Montecristo Villa 8

I would like to meet on-line the other people who own this particular Villa. I have already met one person but would like to share info with others. Marlene and Dave Macbeth

Hi: We own Villa #11. 2 weeks - May 16-31st. We are using Redweek again this year with no success. I have lowered my rental fee for week #20; May 16-24th.

Have you had any luck with Redweek??

Mark & Marilyn Granby Los Angeles

markg99 wrote:

Hi: We own Villa #11. 2 weeks - May 16-31st. We are using Redweek again this year with no success. I have lowered my rental fee for week #20; May 16-24th.

Have you had any luck with Redweek??

Mark & Marilyn Granby Los Angeles

Mark

No luck here either, I ended up renting a week in June to a co-worker for my 2 week maintance fee. I am planning on selling my 2 weeks in June. I feel tied down and it's hard to find a dog sitter for 16 days.

carlos villa 13 6-1/6-16

Hi Mark and Marilyn, I just happened to see you responded to my posting. I guess I don't look frequently enough. I rented last year and this year. Two of the couples I rented to last year went again and I think I added one other couple. The last week of April I am trying to trade through Registry Collection for a week in Tahoe at Christmas. So The end result has been positive for me. I own the month of April which this past 2 years has included Easter week. I rented last year and rented for a little more this year so I did pretty well. If you are trying to get what they tell you to rent them for, you will not get your place rented.

One of the owners of Villa 13 has done even better than that but he is using another source and I think his wife is a travel agent so that always helps. We use our floating weeks in July and will be in Cabo this year from the 1 st to the 15 at Montecristo.

Regards, Dave and Marlene Macbeth

markg99 wrote:

Hi: We own Villa #11. 2 weeks - May 16-31st. We are using Redweek again this year with no success. I have lowered my rental fee for week #20; May 16-24th.

Have you had any luck with Redweek??

Mark & Marilyn Granby Los Angeles

My wife and i were invited to listen to a presentation to purchase a fractional ownership at Pueblo Bonito. The sales guy, Dirk Meyer, mentions that we could purchase an ownership interest in a house for $112K, using a 0%credit card and financing it with mortgage lender. So, in essence we get in with 0 down. The rental income will more than offset the mortgage payments, commissions and fees. What have been your experience? Would you do it?

Thanks,

Ari

I own a fractional ownership in villa #10. I have seen villa #8 and it has an obstructed view. They built it too low, so you see the villa's roof in front of you, when you're in the pool, and not the ocean. Make sure you look at it before you do anything. We were given the same spiel. Until the golf course is built, it is very hard to break even with rental income. The upside is once it's built it will hopefully be worth the price.

We purchased Villa 8 when Montecristo was just a vision. We own the month of April and 2 floating weeks during the summer. We have been able to rent our unit in 2005 and 2006; 2005 was rented at about 350 /day and 2006 for 425 per day. We have been very successful in making enough to cover our maintenance fees plus a little but I wouldn't bank on covering the payments to a 112K mortgage. We have used our unit the two floating weeks of July every year; this year I rented to my brother and friends for 2K for the week and donated 1 week to a local charity. If we don't get any of April rented, we will probably go down for a while. I had one inquiry thus far on Vacation Rental By owner. One of my regular rentors is not able to come this year but is hoping to come next year.

How many weeks are they selling for 112K and what is your maintenance fee?

Marlene Macbeth

arip2 wrote:

My wife and i were invited to listen to a presentation to purchase a fractional ownership at Pueblo Bonito. The sales guy, Dirk Meyer, mentions that we could purchase an ownership interest in a house for $112K, using a 0%credit card and financing it with mortgage lender. So, in essence we get in with 0 down. The rental income will more than offset the mortgage payments, commissions and fees. What have been your experience? Would you do it?

Thanks,

Ari

Villa 9 is the one with the obstructed view. We have a clear shot of the ocean while we are in the pool. The villa which blocks villa 9 is off to the left of our villa.

micheleh41 wrote:

I own a fractional ownership in villa #10. I have seen villa #8 and it has an obstructed view. They built it too low, so you see the villa's roof in front of you, when you're in the pool, and not the ocean. Make sure you look at it before you do anything. We were given the same spiel. Until the golf course is built, it is very hard to break even with rental income. The upside is once it's built it will hopefully be worth the price.

Dirk offered us 2 weeks for 112k. OK. So, assuming that the rental income sucks and that we are stuck with the house. Another attractive feature of the deal is that we were given 4-6 weeks stay at the Registry Collection. Have you used that and how easy is it to use that?

I also notice that there is quite a few people that are trying to sell their Montecristo. Perhaps, it would be a better deal if I buy through them. But then again, I may not get the 4-6 weeks stay at Registry Collection.

Thanks,

Ari

Ari, I don't think I'd buy it unless you have the cash to support it. Plan on having enough extra Cash in January to pay the maintenance Fees. I'm actually considering selling mine since its somewhat of a financial burden, but it looks like I'd lose a lot of money at this point. Definitely don't believe what they tell you to rent them for. That part is a scam! ~Dave

arip2 wrote:

Dirk offered us 2 weeks for 112k. OK. So, assuming that the rental income sucks and that we are stuck with the house. Another attractive feature of the deal is that we were given 4-6 weeks stay at the Registry Collection. Have you used that and how easy is it to use that?

I also notice that there is quite a few people that are trying to sell their Montecristo. Perhaps, it would be a better deal if I buy through them. But then again, I may not get the 4-6 weeks stay at Registry Collection.

Thanks,

Ari

Whether you are using RCI or Registry Collection you have to plan in advance. We tried to rent a place in Tahoe at North Star during Christmas but none were ever turned in so we never got to try it out. I think Registry collection is just getting started and maybe don't have a full inventory. We have used RCI with Sunset Beach before we had Montecristo and were successful. We also use it with a Hilton timeshare we own in Vegas.

Ari

What was the status of the golf course's when you visited?

carlos

RCI has disappointing places to trade for in our opinion. I hope they get better. Meantime we see no value in renewing our $250 menbership fee for less than desirable destinations. As it relates to Dirk Myer and company --many misrepresentation by the sales staff at Montecristo Estates.

The golf courses were "over hyped" at the time we purchased in May, 2005. None of this has come to fruition to date. Only now are we hearing about the construction getting underway and new homes being built.

The rental proscpects have been dim using Redweek- I am sorry to report. I had to give away my Villa for 1 week last may at $200 a night. You cannot even rent a decent room anywhere for that amount , much less this fabulous piece of property called Montecristo Estates.

Too much over building in Cabo with many 6 star properties for us to compete against.

We love the Villa we own, but get a little tired of all the hype out of sales crew at Pueblo Bonito.

Just a final on Maintainence fees. High but we knew this going into the deal. The biggest problem is the prospect of renting our units at a reasonable rental rate for the time we do not want to occupy. It's almost an impossible task. We own 2 weeks but only prefer one week in Cabo. DECENT RENTAL INCOME ON THIS INVESTMENT IS A "PIPE DREAM" TODAY.

Mark & Marilyn Granby Villa # 11 Own May 15-31st each year.

markg99 wrote:

RCI has disappointing places to trade for in our opinion. I hope they get better. Meantime we see no value in renewing our $250 menbership fee for less than desirable destinations. As it relates to Dirk Myer and company --many misrepresentation by the sales staff at Montecristo Estates.

The golf courses were "over hyped" at the time we purchased in May, 2005. None of this has come to fruition to date. Only now are we hearing about the construction getting underway and new homes being built.

The rental proscpects have been dim using Redweek- I am sorry to report. I had to give away my Villa for 1 week last may at $200 a night. You cannot even rent a decent room anywhere for that amount , much less this fabulous piece of property called Montecristo Estates.

Too much over building in Cabo with many 6 star properties for us to compete against.

We love the Villa we own, but get a little tired of all the hype out of sales crew at Pueblo Bonito.

Just a final on Maintainence fees. High but we knew this going into the deal. The biggest problem is the prospect of renting our units at a reasonable rental rate for the time we do not want to occupy. It's almost an impossible task. We own 2 weeks but only prefer one week in Cabo. DECENT RENTAL INCOME ON THIS INVESTMENT IS A "PIPE DREAM" TODAY.

Mark & Marilyn Granby Villa # 11 Own May 15-31st each year.

Hey Mark & Marilyn,

It is a shame you feel the way you do...timeshare sales personal are probably on an even keel with patent leather white shoe used car sales guys...I won´t include women used car sales folk in that lot. Remember you are in Mexico where anything goes...besides the good old Mex govenment is artificially keeping the prices of RE sky rocketing along with the L A yupes and all of us who keep buying here. There are many other parts of Mexico to buy property

Montecristo is a beautiful location and the Villas are sensational...my wife and I own two for a month...however we never bought with closed eyes thinking we were going to make a killing in real estate in a fractional ownership situation. It is what it is...a chance to own a nice piece of real estate at a fraction of the real cost. So get over it and enjoy what you bought...life is short and you are not getting any younger. Try the Mayan in San Jose if you want cheap golf...it is not a Cabo del Sol but it´s also not $380.00 per round with a taco at the turn.

Mark & Marilyn

I was lucky, this year we where able to rent our 2 weeks in June for 5000.00. We also own a Presedential which is what we plan to use this year. RCI is a Joke for Montecristo owners, as is the Registry, they never seem to have any thing of quilty available. We purchased our unit for 2 reasons 1. awesome location, price and the quility of the home. 2. My children now have an awesome place to vacation at no cost to them. If one day the golf courses are built then it should be easier to rent or sell these units. I hope all on this board have great vacations.

carlos

carloss27 Mark & Marilyn

I was lucky, this year we where able to rent our 2 weeks in June for 5000.00. We also own a Presedential which is what we plan to use this year. RCI is a Joke for Montecristo owners, as is the Registry, they never seem to have any thing of quilty available. We purchased our unit for 2 reasons 1. awesome location, price and the quility of the home. 2. My children now have an awesome place to vacation at no cost to them. If one day the golf courses are built then it should be easier to rent or sell these units. I hope all on this board have great vacations.

carlos[/Q

I think you should be pleased with your rental price. Was it 2 weeks for 5K or 5K per week. Marlene Macbeth

2 weeks for 5K

Ari

We own villa 13 from June 1-16, our maintance fees are 2450.00 a year. we have rented the first week for the past 2 years for 2500.00 this year we rented the 15 days for 5600.00. This pays are fees and give us extra monies for other vacations. If i am not wrong the fees are in the 4000.00+ for new owners, it may be hard to recoup your costs with maintance fees that high right now. I hope when the golf coures are built the rents will increase.

carlos

carloss27 wrote:

Ari

We own villa 13 from June 1-16, our maintance fees are 2450.00 a year. we have rented the first week for the past 2 years for 2500.00 this year we rented the 15 days for 5600.00.....

carlos

Carlos, What sites have you found to be the best for renting Montecristo? Have you had any success using Redweek? Thanks, ~Dave

P.S. Maintenance Fees are 4K+ now for 2 weeks.

Ari

To be honest with you the place that I have had more luck is Craigslist, I have had 1 response from Redweek but i had it rented through craigslist first, this is in 3 years. I also have an executive suite at sunset which I do get inquiries for.

Carlos