Has anybody had any success with using their timeshare strictly for income purposes? I yes, what timeshare...

Question

... are you involved in? Do you have any advice for somebody who wants to buy his own timeshare strictly for income purposes?

Answer 1

While it is hard to make money on Timeshare their is a better way to buy a timeshare other than from a timeshare resort. Resale is where you will find timeshare for cheap if not being given away. Now obviously some that are being given away are not going to be easy to make money on. I have owned timeshare in past and have sold for what I paid. I owned a Manhattan Club platinum membership that I bought 5 years ago for $28k and sold it for $30k. After the fees of now using it a couple of those years I figure I broke even. This is a very hot property and it sold on www.buyatimeshare.com in 8 days. Took a little while to get thru closing but in the end it was done and i was happy.

I have heard people that own the Manhattan club actually can make money on renting them but I never gave it a try.

I don't think timeshares are evil like the poster above I just think you need to be wise with your decision before jumping in. Also make sure you hare flexible with your time because the time you want to go is not always going to be the time that is available

Answer 2

If you want to buy a timeshare do it for the right reasons.

This system makes vacation home ownership possible for many people who cannot afford a second home or who otherwise would not be able to enjoy such resort facilities.
It is important to remember that purchasing timeshare should NEVER be viewed as a financial investment with the expectation of gaining a profit in either reselling it or renting it to someone else. Timeshare is an investment in lifestyle, in future holidays, in family time together, and when viewed that way it can be a good investment indeed.


INVESTMENT AND RESALE

Many promoters paint glowing pictures of the investment potential and ease of resale of the units in their development. Responsible people in the industry, however, DO NOT promote or sell time-sharing as an investment because time-share units are usually DIFFICULT to rent or resell. This situation may change in time, but for now, because of the building boom in new time-sharing developments, markets have not been established for renting or reselling time-share units.

Answer 3

My advise to ANYONE considering buying a timeshare for ANY reason is: RUN for your life. You can't GIVE them away.