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From: jlilien@sdcrdcf.UUCP (Joel Lilienkamp)
Newsgroups: net.travel,net.invest,net.misc
Subject: Re: vacation condo Timesharing
Message-ID: <780@sdcrdcf.UUCP>
Date: Fri, 13-Jan-84 14:56:41 EST
Article-I.D.: sdcrdcf.780
Posted: Fri Jan 13 14:56:41 1984
Date-Received: Mon, 16-Jan-84 01:33:42 EST
References: <508@ihnp4.UUCP>
Reply-To: jlilien@sdcrdcf.UUCP (Joel Lilienkamp)
Organization: System Development Corporation, Santa Monica
Lines: 40


When you buy a vacation tymshare condo, how do control who your co-owners
are?  After all, when I go on vacation, I don't want to clean up after the
previous weeks vacation.  Maid services don't necessarily clean up detailed
things.  And what about damage.  Who is accountable, and who repairs.

You mentioned that you can either buy for a fixed period or for life.  Can
you ever buy a slot for all time?  One that you can sell when you want,
and will to your children, and the whole bit.

Do you know what would happen if the time sharing company went belly-up?
I vaguely remember hearing something about some people who lost their
Florida units when such a thing happened, because although they had a
for life time-share, they actually owned the right to use, and not the
condos themselves. (Are regular condos like that, or do you own them?)
The company's creditors claimed the buildings, evicted all tenants
(vacationers I presume) and sold the condos.  Those people who had bought
the time shares were screwed.

And then there's the price.  I have always wondered why so many people
fell sucker to such a deal.  If you are going to pay $23K for your share
of the condo, why not find four or five other people who want a similar
deal, and just buy a regular condo.  A Tahoe condo typically costs between
$60K and $140K (they may go lower, and definitely go higher).  You can
set up a limited partnership, use the condo for your vacations, and rent
it out the rest of the year.  Your maximum risk payments wouldn't be more
than if you bought the condo, plus you get incredible tax benefits along
the lines of depreciation and business expenses (advertising, maids, travel,
etc.)  I was informed by a salesman after asking those questions that I 
was probably not suited for time sharing ownership, and might as well leave
(I guess so the other suckers wouldn't hear the logic of not buying a
slice)

	Joel

P.S.:  If someone tries to get you to buy something because it is soooooo
logical, try this:  "I am a computer scientist.  I have to deal with
logic everyday.  Therefore, when I buy things, I like to make illogical,
irrational, emotional decisions!"  This will at least get you a dropped
jaw, if not a little less pressure from the salesman.