Tweet
A little background and then my question
I recently attended a Wyndham sales presentation at Bonnet Creek (orlando) I went with a friend (we got a free stay) She is an owner and I presume got the free stay and other credits for our agreement to attend a 90 minute sales presentation. Well....4 hours later my wife and I gave up and bought a small points package (154000 points every other year) for a lot of money ($14000), at a very high interest rate (19%).
The next morning we woke up, realized what we had done and started the cancel process. Finally we have received our downpayment back and we are out of the deal. 
The fact is, however, we like the resort, its within a 3 hour drive from of our home, we will use it, but it just cost too much. So I started doing the homework that I should have done before. Long story short.....I bought 385000 annual points on ebay for a dollar (closing costs paid by the seller) My only cost was the resorts transfer fee (3 deeds at 125/deed) and 2 months advance maintenance fee. I think the only way I could have done better would be to buy just 1 large contract. That way I would have had only transfer fee. But I would probably have to pay closing costs (about $500)
Here's are my questions..... Bonnet Creek is a super facility and Wyndham has others almost as nice in Orlando. If I use some of my points to reserve a week there, how easy would it be to rent this week to cover a portion of my fees? (or several weeks to cover all my fees). Is there a profit potential doing this? How easy is it to rent a 5 day week (no weekend) vs. a full 7 day week. And do 2 bedroom units rent better than 1 bedrooms? How about 3 bedrooms?
My botton line question is: Does anyone here have experience renting timeshare weeks in Orlando? and what advice can you give me?
Looking ahead and assuming I can rent this stuff, I am considering buying additional points (lots of additional points) with the thought of building a resort rental empire. Any Thoughts??
I recently attended a Wyndham sales presentation at Bonnet Creek (orlando) I went with a friend (we got a free stay) She is an owner and I presume got the free stay and other credits for our agreement to attend a 90 minute sales presentation. Well....4 hours later my wife and I gave up and bought a small points package (154000 points every other year) for a lot of money ($14000), at a very high interest rate (19%).
The next morning we woke up, realized what we had done and started the cancel process. Finally we have received our downpayment back and we are out of the deal. The fact is, however, we like the resort, its within a 3 hour drive from of our home, we will use it, but it just cost too much. So I started doing the homework that I should have done before. Long story short.....I bought 385000 annual points on ebay for a dollar (closing costs paid by the seller) My only cost was the resorts transfer fee (3 deeds at 125/deed) and 2 months advance maintenance fee. I think the only way I could have done better would be to buy just 1 large contract. That way I would have had only transfer fee. But I would probably have to pay closing costs (about $500)
Here's are my questions..... Bonnet Creek is a super facility and Wyndham has others almost as nice in Orlando. If I use some of my points to reserve a week there, how easy would it be to rent this week to cover a portion of my fees? (or several weeks to cover all my fees). Is there a profit potential doing this? How easy is it to rent a 5 day week (no weekend) vs. a full 7 day week. And do 2 bedroom units rent better than 1 bedrooms? How about 3 bedrooms?
My botton line question is: Does anyone here have experience renting timeshare weeks in Orlando? and what advice can you give me?
Looking ahead and assuming I can rent this stuff, I am considering buying additional points (lots of additional points) with the thought of building a resort rental empire. Any Thoughts??
Comment