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Re: WALK AWAY FROM TIMESHARE (by Charles G.):

jayjay wrote:

Chuck, wow, it must be nice to be that rich :o).

chuckg21 wrote:

jayjay wrote:

Chuck, I'd be curious to know what he paid for his 12 Marriott platinum weeks and what his yearly maintenance fees are? I can't even imagine :o).

The cost is expensive, no two ways about it. At the time, he probably paid $28,000 per week, which is a enormous sum of $336,000. However, this guy seemed to be pretty wealthy since he was shopping for a second home for use in the summer in the $1.5 million range. He thought that the 12 weeks at the five starr Newport resort was the better spend then the $1.5 condo, which was not nearly resort quality. Of course, I'm not in that financial category. The fees are about $700 per week, so this guy is shelling out over $8,000 per year, but he said he just wanted the summer escape to the beach and he's happy as a lark. However, he can still trade these weeks for Hawaii or trade for points if so chooses. I also met a dentist who told me that he had 26 Marriott weeks at various properties. I am sure that he bought some of them resale because he was the one that told me about Redweek.

Chuck

Your right, the guy was loaded! I am definitely not even remotely in his league. He said that his back ground was in finance and he had always held the belief, that buying a time share was nonsensical. However, he said he crunched the numbers and for him it made sense and then went on to purchase the 12 weeks. I learned that it largely depends on each persons financial position and how they plan to use the investment. I am more puzzled when I learn about someone who hasn't even used the timeshare that they purchased or they still don't understand how to use the applicable point program. For those people, they probably didn't know what they were getting into. Chuck