Your Thoughts On Strip Timeshares?

Time shares

A stupid man I know who lives in Vegas got sucked into buying a timeshare
. It cost him $15,000. He is paying $500. per month payments.

The cruise was not really free since he had to pay the full price for the cruise. I met him on the cruise ship. He had been promised a free cruise for two. His girlfriend left him so he was cruising alone.

I didn't want to know all the details because I have known for many years that it is very hard to sell a time share. Some people just have to let go of their timeshares and forget the money they lost.

He is an old senior who would have been better off just having fun spending his money on lots of cruises and staying at hotels in other cities with the money
he is paying on his Vegas Timeshare.
He is presently working just to pay for the timeshare.

I chose to let go of the friendship because he didn't have time to spend with me when I go to Vegas. He is always working and took me one time to a cheap buffet and used a coupon so I could eat free. LOL.

I prefer to use my time in Vegas for myself since I have my own money to spend in Vegas.lol. LucyR.

 

I'd be interested to know the pros and cons of owning a timeshare property at the Jockey Club.

I see mostly cons to owning timeshares, but I can see some advantages to owning a timeshare at the Jockey Club. But who better to get an opinion of a timeshare on the fabulous LV strip than a timeshare owner?

Anyone here own a timeshare property on the strip?

 

Why not just rent the timeshare's that aren't used by the owners and then you aren't locked into the contract?

We stayed at the Wyndham Resort last summer, was a nice place and fit our purpose for that trip, only paid $95/night for what was basically a 1 bedroom apartment. But no way would I lock myself into one place.

Places come and go, quality of places go up and down.......

 

I own two timeshares, one in Aruba and one in Florida for over 10 years. I’ve had great vacation in the Caribbean, Florida, Hawaii and California. I’ve also stayed in Vegas with my friends. They are not regular gamblers and don’t get comped nights, though I do. I have traded into the Marriott Grand Chateau across the street from Planet Hollywood.
I have no opinion on the Jockey Club because I haven’t visited. Like above posters have noted, do not buy a timeshare after a tour/presentation. You would be paying full freight. Buy from a reseller at a tremendous discount. Also be aware timeshares do not go up in value only down. You have to realize with a timeshare there are annual maintenance fees, they don’t normally go down either.
That being said, you have to determine why you want a timeshare. Do you want an annual vacation that you need to make reservation in advance if you get a float week or do you get a fixed week that you go away? Float weeks require advanced planning.
Check the website below it will tell you all about timeshares soup to nuts. It has sections on various timeshares Vegas included. It’s not a sales site, though members can check for re-sales by other members.
http://tugbbs.com/forums/index.php
Personally, because I can get comped rooms I wouldn't have stayed at a timeshare though the rooms are generally nice.

 

In our younger days we used to build vacations around the presentations. We'd get 3 nights free at one resort, than tie that into another, drive/fly there for 3 nights.

Never Vegas, but we have stayed at some very nice places around the country which we wouldn't have been able to afford otherwise.
Scottsdale, Orlando, Lake of the Ozarks, Padre Island, San Diego and several in northern WI in the summer.
The longest one we ever sat through was 1.5 hours long. In almost every case I just acted like a jerk, told them up front I was there for the free rooms and hell could freeze over before I would buy one. They don't want to waste their time either. The shortest was 20 minutes. She signed our slip and off we went.

 

I am trying real hard to find an advantage, but apparently do not get it. What are the advantages?

 

Consider the Marriott Grand Chateau

I own a Marriott timeshare in Williamsburg Virginia and have used it to trade two times for the Marriot Grand Chateau. It is a great location on Harmon (my opinion, Harmona and the Las Vegas Blvd is the epicenter of the Strip), a block off the strip and across the street from the side door to Planet Ho. The facilitly is excellent and the Marriott systm allows for a lot of flexibility in using it.

 

That's what I'm looking for!

I think the PHo/Cosmo area is the center.

Just to be clear, I NEVER planned to buy at a presentation. I'd buy a resale.

JC for instance can be had for next to nothing with $550 in maint fees.

For the record, I've been to TS presentations before and wouldn't even consider buying that way. $20K? I don't think so.

Anyway, I guess there aren't any JC or PT owners on here so oh well. I will check out the Marriott Grand Chateau tho'. That doesn't seem too far from the action.

 

One suggestion: never buy at a presentation. Buy from the after market.

 

Roooight.

 

I became an owner of a Polo Towers Villa though necessity. Several years ago my mother bought a Villa at Polo Towers and fell behind n the payments. Myself and a friend took over the payments.

I like it for those occasions when when are going to stay in Vegas for 5 days or more or I'm going with my in-laws who are looking to keep it as cheap as possible. It's nice to have your own kitchen and just have a little room to spread out.

We belong to Interval international and have exchanged into some nice places in Aruba, Williamsburg, San Antonio, and Orlando. In view view a timeshare may be worth it if you like to travel frequently.

 

It is a great thing to get into IF you have the extra income to spend, are in a stage of life where you can travel frequently ie mid 20's-40's or retirement age 65- Dust. Other than that it is a hassle my parents bought into one 5 years ago and now are asking why the hell they did it in the first place. The Marriot Vacation Club concept is great. Good value if you have a home property with low fees and a low buy in. With the Marriot vacation club you can stay at any marriot hotel for very little cost but the cost is the points debuction from your marriot rewards card/credit card. So in the end it is up to you. Hope this helps

 

Call me a liar or a bs-er if you want

But a a guy I know down the street from me owns at least 60 timeshares .He just keeps buying them all over the place in high class properties. He runs a business where he rents these out besides his other business. I havent asked him lately how he's doing ,but a few years back he was struggling to keep up and was juggling credit cards to stay afloat. He's gone a lot, he plays golf all over the place at these timeshares. I guess he makes money if theyre all rented consistantly.

 

Timeshares inevitably become a prison of sorts. Your overall cost will be way more than staying at a hotel with comparable accomodations, and it's always the same four walls. Eliminates the feeling of being on vacation.

 

Sometimes this true, however not always.

I have owned a timeshare for 6 years, not in Vegas. I have a Excel sheet, tracking what I paid for it, including maintance fees, over what a hotel would cost me out of pocket for each of my stays. It has already paid for itself, and is still worth quite a bit of money if I decide to resell it. I bought a timeshare that I knew would stay in high demand through Disney, something somebody always wants. If you do buy, make sure it is something that you can sell should your situation change. The Hilton and Marriott ones sound like a good idea, I would avoid the Jockey Club....

 

It's like a Corolla v. an AMG Benz; both will get you around ...

Bad time-share stories come from those who don't do their homework, don't know what they want, buy on impulse and don't understand the math. Like any other consumer purchase, caveat emptor is in order. We have a number of friends and family members who have had great experiences with their investment and couldn't be happier.

We stayed at PT many moons ago. It was fine. We've done several stays with at some of the hotelier-branded properties, and those have been great. JC just always looked like a backwater to me.

It'd be leery about a tied-to, down-market property in Vegas, or maybe anywhere that wasn't on a kick-ass beach or ski hill.

But the bottom line is, to the OP: book a tour and run the numbers.

 

Not sure how I missed this thread. My info may be a little too late for the OP.

I own two weeks at Jockey Club in Las Vegas.

To give you a little background, I have done 3 timeshare presentations in my life. One in Florida that my Mother in law got us roped into (she ended up purchasing, Stupid move) The second was in Branson, Mo. (we did it for the free steak dinner. The Prime Rib was the best I've ever had) I also did one at the Polo Towers 15 years ago. It paid for our second trip to Vegas. Stayed at the Tropicana 2 nights and never bought a thing.

Fast forward to ten years later. I had been going to Vegas at least once a year, every year. (sometimes 3 times a year) Keep in mind that around 2006, there was no City Center, or Cosmo. And hotels like Westward Ho, Frontier and Stardust were starting to disappear. I was seeing an overall increase in hotel rates. I was also seeing my $50-$75 per night budget was getting me less and less.

I started looking at Jockey Club and Carriage House timeshares on eBay. On one of my visits, I took the time to check out both. I didn't do a presentation, I just walked in and told them I was thinking of purchasing a unit second hand and wanted to look. Both places were very helpful.

Right about this time, the Cosmo construction was being announced. Jockey Club owners couldn't get rid of their units fast enough. So, I bought one week. I paid closing costs, title transfer and that years maintenance fees. (less that $1k) But I also received 1 of the carryover weeks for the unit and 1 free exchange week with RCI (plus a one year membership to RCI)

When all was said and done, I used 21 days of vacation for $1k. That's $48 a night. No taxes, No resort fees, and it's paid up front.

About a year later, I purchased another week. This time I only took over the maintenance fees. The previous owner paid all closing costs. This second unit was purchased to use now and perhaps sell at a profit later. There was a lot of confusion about the Cosmo construction and while it does eliminate any view for the South rooms, the Jockey Club makes every attempt to put it's owners in the North rooms facing the Bellagio Fountains. (the South rooms are given to the people who just book on a nightly basis)

I did my homework before purchasing. I had a map of the property and knew which units where on the North and which were on the South. Both of my weeks are North side. One is in April and the other in November. I've stayed at Jockey Club an average of twice a year since 2006/2007 and have only had a South facing room once.

Even though my weeks are for April and November, I can exchange them for any other time, or allow them to carry over until the next year. I have only used the assigned week once. That was the April week. (I took my parents and put them in that room, just to guarantee the nice view of the Bellagio Fountains) Also I don't have to use the whole week at once. I can use one day, or three days, or the whole week.

I will probably end up selling one of the weeks eventually, but I don't see myself ever being without one.

I have become accustomed to the Jockey Club. We do occasionally use some free offers to extend our trips, but I have yet to find a hotel that I feel as comfortable at, as JC. The kitchen and living room give you enough space that you don't feel cramped. The extra things like free wifi, popcorn and free DVD library are also a nice bonus. (when your gambling losses start to mount) Or, free shuttle to grocery store and outlet malls.

I can be on the Cosmo Casino floor in less than five minutes from any room at the Jockey Club. The same goes for the Strip.

I guess for me, it locks in a price that I am comfortable paying, for a place that I feel offers value. I am also able to pay my maintenance fees quarterly, so $135, four times a year and my room is taken care of. I haven't had to search for the best prices or be concerned with blackout dates. In fact, I haven't had to think twice about my hotel for years.

Sorry for the long post. I would be happy to answer any questions the OP (or anyone) has.

 

I just don't see the need to own a time share in Las Vegas when for the price they're asking you can buy your own condo and own it outright.

 

We have a timeshare through the Marriott Vacation Club...and a few years ago it changed from having 2 weeks at exclusively the Grande Chateau in Vegas to getting the equivalent amount of points per year. This allows us to stay at any Vacation Club property in the world...so we dont have to go through the hassle of "trading" another owner weeks.

Some properties are "cheaper" and require less points so we can get more than 2 weeks and some cost more points so we get less.


I broke down the total price over 50 years (initial purchase price and the annual fees) to a per night cost, amortized and adjusted it to future equivalent values, and I felt it was a reasonable price...so we got it.

 

You must not have read my post (I know it was long and boring)

When you remove the actual maintenance fees that I have paid, I have about $500 invested in my timeshare. How can I buy a condo for $500. Or how can I finance a Condo for a payment of $540 per year?

Even if a retail timeshare costs $15,000, plus the $540 per year in maintenance, how does this get me a condo?

No way in the world would I buy one retail. But, if someone is serious, they could find one for pennies on the dollar.