Rental Property Investor · Catskill, NY · Member since 2018 · 5 posts · 0 votes
I have been looking into property out of my area in other states and stumbled across sale listings for condos where you would own 1/4 or 1/5 of the property and have access to it 13 weeks out of the year for example. Anyone have any experience with this? Pros and cons of it ?
Law firms pay for radio advertisements to get you out of timeshare contracts, if that helps your analysis. There's lots of people talking about STR success, but I don't know of anyone doing it with timeshares.
Law firms pay for radio advertisements to get you out of timeshare contracts, if that helps your analysis. There's lots of people talking about STR success, but I don't know of anyone doing it with timeshares.
Everyone is looking for a cheap way to do what is best done by buying the property and owning it yourself. That is the only way to maximize New Opportunities and minimize the many risks that come with short-term rentals
@Alexandrea Backus Here is an old BP article below (with some good comments below it) that might answer some questions. I personally wouldn't ever invest in these just due to the lack of liquidity involved trying to sell fractional ownership, and would certainly never attempt it as an STR . There is enough to owning/managing an STR owning the entire place yourself without having to figure out profit sharing, calendar management, decorating arguments, etc. with multiple owners that you do not even know. :)
Hey @Alexandrea Backus, I only know of one person doing it the way you describe and that is in Las Vegas during CES.
Companies will book a timeshare for employees during CES at well above the normal rates. Nightly during CES can be over $800 a night and folks pickup a week long timeshare for pennies on the dollar then rent during CES.
That is all anecdotal stories so I have no first hand knowledge, but I do attend CES and it can cost a ton so it is possible.
Otherwise, like everyone has said, pass and get your own place! :)