Fractional Ownership vs Time Share in Thailand, Suggestions?

[Dannywla51]

Having a diverse portfolio, as I own my home in USA and Issan free and clear as I have no debt on both locations. I was hoping to buy into a high end fractional ownership or timeshare as I am only 53 years old.

My objective is to have the option to stay at a high end time share (Marriot in Phuket) or purchase a fractional ownership property as Centara and others resellers in Thailand allow you to purchase into there property.

Was hoping someone had experience other than those that are Youtubed on there websites. Cost and annual cost associated with your experience and your overall views if that was a wise investment, or better to pay as you go.

[johnnyk]

My 2 satang is fractional ownership=timeshare with lipstick. Timeshare is owning nothing save a piece of paper saying you can use it x weeks a year for y years. Pretty well unsellable down the road if you change your mind.

Fractional is often similar, lots of conditions and restrictions. Don't fall for the horsepoop about earning rental returns. Creative accounting will ensure you don't make anything. Example, easy for owner/management to let maintenance and servicd contracts to in-laws etc at grossly inflated rates.

Pay as you go.

[KittenKong]

"Suggestions?"

Only one: don't.

[Delight]

Co -owners in a condo have legal protection .

There is no provision in Thai law for any kind of fractional ownership.Any agreement will have no protection in Thai law.

The requirement to pay maintenance is not legally enforceable -so many fellow 'owners 'will simply not pay.

Those who chose to pay will then have to pay more.

Distress all the way

[patongphil]

Only one response to this - RUN RABBIT RUN.

[bocceball1]

Years ago I bought a timeshare. Bought it as a resale on the internet (check out the internet for timeshare resales). I bought a 2 bedroom lockoff unit (actually two units ....a one bedroom and a sudio) for $750 (not a typo.....Seven Hundred and Fifty dollars!) at the Sheraton Bouganvilla in Puerto Vallarta. Annual maintence fee was $500/year. Also paid an annual fee to join RCI (About $100) so could trade my timeshare with ones from all around the world.

Have to say my experience wasn't bad as I used it every year (or traded it for somewhere else) and didn't pay a whole lot for it.....so my daily cost for 2 bedroom unit in a resort was about $75/night.

As I said, I bought my timeshare years ago (about 10) so what the resale market is like now or annual costs ....I don't know...check out redweek.com (I used to use that site to rent out my timeshare when I wasn't going to use it.)

[Pikeybkk]

run and sold by scumbags

[Sharp]

Run forest run !!!!

[PattayaPhom]

As expected, the usual dribble from those with no knowledge of either product. Timeshare if RCI is offered gives the opportunity to holiday in some of the most fantatsic places for a fraction of the normal cost, this is taking into account service fees etc. Sking at Whistler for $500 etc etc etc. Fractional ownership is more suited if you indeed believe you want to stay at the same apartment each year.

[bocceball1]

I'm going to do something very few have done so far. Answer your questions.

Cost....This is the key! As pointed out earlier you can go to presentations or buy through a sales office and pay FULL price...problem is you'll pay some exorbitant price

[bocceball1]

Got cut off. As I was saying

Cost....pay full price ...way to exorbitant ...best way to go is to buy on the resale market (check the internet)...can get Cheap (less than a thousand dollars and as low as $100 ....checkout the resales on Redweek.com)...this is a one time outlay...best to get at least a one bedroom.

Annual fee.....this is another key.....want to buy into a place with annual fees of less than $500 ...why? because this fee represents what you'll be paying for your one week vacation...(You can stay in some cheap hotel for $50/night or a Really nice one bedroom with kitchen (save on eating out) for $75- $80/night)

Every now and then the timeshare charges for extraordinary expenses....can be as high as $1000 for this one time charge....usually for some disaster that causes extensive property damage...rarely happens but it does....you can pay or just walk away and what are you out .....only what you paid for the unit (hopefully you bought as a resale for less than $1000 so ...chump change)

As for all the negative posts....I can only guess they have never bought a timeshare before or they paid the full market price (ouch ....what a rip off).

Also as pointed out above if you own a timeshare you can join RCI or International Interval. (whichever your timeshare belongs to)...And as pointed out you can trade your one week at your timeshare for any of these others....Trading preference is given to those units that are in High demand areas during High Season (sometimes called redweeks).

Good Luck ........timeshares are not that bad of a deal if you buy cheap and do your research.

[KittenKong]

Good Luck ........timeshares are not that bad of a deal if you buy cheap and do your research.

But there's the rub. Several people on here have rightly pointed out that if you can buy something you want at a knockdown price then it might be worth having. The same would also apply to a condo or a house etc. You dont need to be Warren Buffet to know that.

But in Thailand (and elsewhere) none of them are probably worth having at the full price.

[bocceball1]

Good Luck ........timeshares are not that bad of a deal if you buy cheap and do your research.

But there's the rub. Several people on here have rightly pointed out that if you can buy something you want at a knockdown price then it might be worth having. The same would also apply to a condo or a house etc. You dont need to be Warren Buffet to know that.

But in Thailand (and elsewhere) none of them are probably worth having at the full price.

I agree. But the key is figuring out the right price point. Regarding condo's or house's for me I look at the cap rate or return the property should give if its not an owner occupied . As for Timeshares the price point basicly comes down to what you would be paying per night for exercising the use of the timeshare.

I'm not sure who the "several people on here " who "have rightly pointed out that if you can buy something at a knockdown price then it might by worth having" as most have been negative regarding the idea at all of buying a timeshare.

As to paying full price.....your comment of "none of them are probably worth having at full price " is conservative as in my mind NONE are POSITIVELY not worth full price.

[KittenKong]

I'm not sure who the "several people on here " who "have rightly pointed out that if you can buy something at a knockdown price then it might by worth having" as most have been negative regarding the idea at all of buying a timeshare.

Well, in this thread there was just you but in other threads other people have said similar things. And of course they are right. If you can get a resale timeshare you want at a huge discount (probably because it is being sold out of desperation), then why not? I would do the same. But that doesn't help the OP who appears to be thinking of buying a full-price new timeshare from a promoter/developer.

[pancakeman]

Good thing Danny and Booceball signed up just to discuss timeshares and a certain website that keeps being mentioned.

[bocceball1]

Good thing Danny and Booceball signed up just to discuss timeshares and a certain website that keeps being mentioned.

And what did you sign up for? Just to say nothing? contribute nothing?.....well...that's what it looks like in reading your past posts....oh well ....each to their own;

[tingtong]

for a short stint i was working for a timeshare in Phuket, sale side...back in 2002.

all i can tell you, it felt a scam, both as the work ( make up story, pull in ppl who hardly a qualified lead) and the product and service both.

i left the place after 2 weeks, and so did 90% of the workers in the same period.

things may or may not change since, i honestly dont know.

but i think with discount hotel booking websites, one can book pay-as-you-go, your time, your days, and often very great prices.

[trajan]

my aunt has Marriott timeshare and she loves it...when she doesnt stay in her home resort, she trades for Marriott Rewards points and stays in hotels around the world....sometimes she trades for other resorts.... (I think she got it second hand, but not sure)..its a lot more cost effective than paying as you go because good hotel and resort nightly stays keep going up faster....

BUT think a good timeshare (from a quality reputation place like Marriott) is good only if you take a long(ish) vacation every year (in high quality resorts, not budget places)

anyway, she has a better life than me as she doesnt work much anymore...just enjoying life with friends...

Edited September 9, 2013 by trajan

[Asiantravel]

As expected, the usual dribble from those with no knowledge of either product. Timeshare if RCI is offered gives the opportunity to holiday in some of the most fantatsic places for a fraction of the normal cost, this is taking into account service fees etc. Sking at Whistler for $500 etc etc etc. Fractional ownership is more suited if you indeed believe you want to stay at the same apartment each year.

but also has its critics

Consumers Complain Of RCI Timeshare Scams

http://www.timeshareconsumerbureau.com/19/category/rci%20timeshare%20scam/1.html

Edited September 12, 2013 by Asiantravel

[bocceball1]

As expected, the usual dribble from those with no knowledge of either product. Timeshare if RCI is offered gives the opportunity to holiday in some of the most fantatsic places for a fraction of the normal cost, this is taking into account service fees etc. Sking at Whistler for $500 etc etc etc. Fractional ownership is more suited if you indeed believe you want to stay at the same apartment each year.

but also has its critics

Consumers Complain Of RCI Timeshare Scams

http://www.timeshareconsumerbureau.com/19/category/rci%20timeshare%20scam/1.html

Good article about RCI scams. By the same token its not saying that timeshares, in and of themselves, are a rip off (although,personally I believe they are if you pay anywhere near full price.....buy used and at a super discount, OK!). Also with regard to exchanging timeshares maybe RCI has some scams ....I, personally never had a problem exchanging my unit because it was prime time, penthouse, 2 bedroom, primo!....Exchanged my timeshare for great places, all around the world during prime times (did have put in my request at least 8 months out)....

So if RCI is a rip off , then maybe its best to look for cheap timeshares that are a part of International Interval's.

Just my take.

[menorah]

run and sold by scumbags

Being a Pikey you must certainly know all about scumbags, or is that a gross generalisation also !

Like any commodity there will always be honest vendors along with dishonest characters. As mentioned further down the thread, there are advantages to offers with RCI assuming you want to alternate location sometimes.

Research is key to minimising bad experience and I suspect there are many satisfied customers across the globe but 'good news' rarely sells newspapers.

[Langsuan Man]

Seriously, in a country that has some of the most archaic and foreigner unfriendly property laws someone would consider a fractional or time share here.....boggles the mind