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Is this really the world's worst investment?

by Jack Gordon
7 replies
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Probably. But I'm buying a timeshare anyway. It is right in the heart of the Las Vegas strip. Sleeps 6 comfortably (two bedrooms, two full bathrooms, a big living room with pullout couch and a full kitchen).

I get pretty much any seven days I want every year. It is an easy walk to the Bellagio or Cosmopolitan or Planet Hollywood or City Center and the monorail.

However, I'm not the guy who got suckered into the presentation, then succumbed to the hard sell and had to take out a loan for that $50k slice of heaven.

I am buying it from that guy.

For $1k.

Plus $557 in maintenance fees, every year until I decide to dump it on the next guy.

Hopefully for at least $2k.

That's a 100% ROI folks. Listings for comps all over the internet range from $3500 - $20k.

Wish me luck.

Not with the timeshare. That's a no-brainer.

At the tables.

And no. You cannot stay with me unless you look like Christina Hendricks or are buying the beer.

Peace out.

And Happy Thanksgiving.
  • Profile picture of the author Tom Addams
    I've never bought a timeshare, but that sounds like a pretty great deal, Jack. We stay at the MGM when in Vegas and that, coupled with everything else, adds up. So sounds great. Incidentally: one of my favorite places in the world. I always go for a week and stay for 3!

    GRM
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    • Profile picture of the author lanfear63
      A company offered the wife and I, 2 nights free hotel accommodation in San Antonio if we attended a Time Share promo where they would try to sign us up.

      I am a master at not buying anything under pressure and it was expensive for what you got anyway. So, we went through it all and enjoyed our free weekend in San Antonio.
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    • Profile picture of the author Jack Gordon
      Originally Posted by Get Rich Methods View Post

      I've never bought a timeshare, but that sounds like a pretty great deal, Jack. We stay at the MGM when in Vegas and that, coupled with everything else, adds up. So sounds great. Incidentally: one of my favorite places in the world. I always go for a week and stay for 3!

      GRM
      It really is amazing how expensive it gets there. $200ish/night for the room (in any joint that treats you like lesser royalty at a minimum...), plus $25ish resort fee/night, plus 12% room tax/night, plus food, entertainment, cab fare, hookers, blow... it all really adds up. That doesn't even include the stupid tax (you know, gambling)

      $557/week flat is a screaming bargain. I am VERY excited.about this

      Originally Posted by lanfear63 View Post

      A company offered the wife and I, 2 nights free hotel accommodation in San Antonio if we attended a Time Share promo where they would try to sign us up.

      I am a master at not buying anything under pressure and it was expensive for what you got anyway. So, we went through it all and enjoyed our free weekend in San Antonio.
      Yeah... we get solicited for that all the time too. My wife and I consider ourselves to be frugal to the extreme. I can't imagine anything that would convince us to pay that kind of money for something like this.

      Having said that, we actually are going to be sitting in one of those presentations in exchange for the free room in Orlando in April. So ask me then how well we did.

      P.S. The big difference between Vegas and Orlando is that I go to Vegas a couple of times a year anyway. Not so with Orlando...
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  • Profile picture of the author HeySal
    You do realize that whether it remains a good investment or not will be determined by whether you bought my e-report on "Making Your local Casino Work for Your Portfolio" (which I will get right to writing). The return on your investment, as it stands on its own, will be determined on how well you are able to sell that book to prospective time share buyers, and if you are affiliated with the book.

    Nice chat. I love holidays.
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  • Profile picture of the author laurencewins
    I used to run telemarketing rooms to get people to attend timeshare presentations and I can tell you that $1000 is perfect money when, as you say, usually it is much more expensive. It's great if you holiday a lot and want to try out different places as well as your own.
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  • Profile picture of the author sbucciarel
    Banned
    Really a bargain and I love Las Vegas. Stayed in a timeshare there once with other people who owned those days. It was a great time and very close to the strip ... walking distance.
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    • Profile picture of the author Jack Gordon
      Originally Posted by HeySal View Post

      You do realize that whether it remains a good investment or not will be determined by whether you bought my e-report on "Making Your local Casino Work for Your Portfolio" (which I will get right to writing). The return on your investment, as it stands on its own, will be determined on how well you are able to sell that book to prospective time share buyers, and if you are affiliated with the book.

      Nice chat. I love holidays.
      I'll try my best, but we'll have to coordinate on timing, as I am planning to create my own WSO on how to save millions a day in Vegas (by NOT gambling).

      Yeah, it is only one page long. But the value proposition is out of this world.

      Originally Posted by laurencewins View Post

      I used to run telemarketing rooms to get people to attend timeshare presentations and I can tell you that $1000 is perfect money when, as you say, usually it is much more expensive. It's great if you holiday a lot and want to try out different places as well as your own.
      I know that those things are tough to sell, but I really didn't expect to find something like this for so close to free. My wife is interested in the concept of vacationing in different places, but honestly I can justify this one on my business needs alone.

      Originally Posted by sbucciarel View Post

      Really a bargain and I love Las Vegas. Stayed in a timeshare there once with other people who owned those days. It was a great time and very close to the strip ... walking distance.
      I love Vegas too. In fact I just stayed in this place last month (as a renter), and that was what got me interested in looking it up. When I saw this unit for sale on the aftermarket I had to grab it.

      I am there at least twice a year on business, but would love to bring my family. This is going to be the perfect excuse to do that.
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