Tips on Timeshares

by | BiggerPockets.com

Traditional real estate investors don’t typically look at timeshares as a good investment, but people still buy them. You can’t go to a resort area today without running into a free breakfast for listening to a brief pitch about some hotel or development. That said, Kiplinger Magazine just put out a guide for What You Need to Know About Timeshares.

1. Time shares are still a lousy investment.
2. Selling agents may be of little help.
3. Financing is a last resort.
4. Trading spaces can be a headache.
5. A slice of a condo can be better than no condo at all.

Basically, if you read the full article you’ll find information like:

“There’s a glut of unwanted time shares. Sell today and you can expect to get back only 30% to 50% of what you paid” OR “consumers have filed many complaints with the Better Business Bureau about companies that charge up-front fees and then fail to sell the properties”

I say – Save your money. Invest in some real property and get a true equity stake worth something. Book your vacations ahead of time, and avoid the free buffet breakfast at all costs.

About Author

Joshua Dorkin

Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of How to Invest in Real Estate. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. Today, BiggerPockets is the premier real estate investing website online with over one million members and reaching over 70 million people with the message of financial freedom through real estate investing. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. Read more about Joshua’s story in 5280 and Inc.com.

1 Comment

  1. Great points Joshua. You’re right, buying timeshares through the resort are very poor investments and owners looking to sell their properties are going to run into a lot of different problems if they don’t choose the right company to help them sell. They’re already going to be losing about 50% of whatever they spent and to add to the trouble, there are a tons of dishonest resale companies online looking for upfront fees without providing any results. Anyone looking to sell their timeshare should look for a company with licensed brokers who won’t charge anything until the property is sold. If time is not an issue, some people choose to go and try to find buyers on Ebay or Craigslist on their own but sometimes weight of the annual expenses don’t allow for such patience.

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