DVC T &C Personal Use - Only Thread to Discuss.

[Brianstl]

Is there a good tool to use to convert a percentage of ownership in an individual unit into a point total?

 

[Sandisw]

Is there a good tool to use to convert a percentage of ownership in an individual unit into a point total?

Not really because it is completely dependent on what is part of each unit and they differ by resort and even within resort.

For example, at BPK…they declared the 202 resort studios in two units…101 in each, Unit 11 and Unit 12.

So, the % of ownership would be based on that and total points for those rooms. There is no standard way. But, you’d have to try to find each of the filed documents for the declarations on the comptroller site, assuming you are talking WDW.

Once you find what you are looking for you can go from there, but you’d still have to be able to know point totals.

If one has actual points, you can look at the deed, find the %, and unit and then figured point totals for that unit.

But it wouldn’t tell you how many contracts were sold attached to it since contracts are all different sizes.

 

[mkatsy]

I am pretty sure regardless of what state the court foreclosure auction is in, that you don't pay any additional interest. Your winning bid covers all the interest in fees for the property in the auction.

oh its quite possible, I know very little about this process.

 

[Brianstl]

Not really because it is completely dependent on what is part of each unit and they differ by resort and even within resort.

For example, at BPK…they declared the 202 resort studios in two units…101 in each, Unit 11 and Unit 12.

So, the % of ownership would be based on that. There is no standard way. But, you’d have to try to find each of the filled document for the declarations on the comptroller site, assuming you are talking WDW.

Once you find what you are looking for you can go from there.

I am just trying not to figure out how many points these contracts are that Palm Financial (Disney) has foreclosed on are.

 

[mkatsy]

I am just trying not to figure out how many points these contracts are that Palm Financial (Disney) has foreclosed on are.

If you’re looking for the points, the only way I have found is to type the name of the default owner into the comptroller and open up the original deed.

 

[Sandisw]

I am just trying not to figure out how many points these contracts are that Palm Financial (Disney) has foreclosed on are.

There is some way to figure points out by deed tax when I contract is sold and maybe it has that.

But it’s not something that I ever look at. Others might be able to help.

 

[Cyberc1978]

I looked up one of the major players LLC on the comptrollers website, and jesus there was many transactions.

Its a nice little side hustle they have going and I certainly understand why Disney would want to stop them and other LLC'

I think if only the LLC' hadn't done this in such a large scale, then Disney might not have cared. But the LLC' got greedy and here we are.

 

[VGCgroupie]

"Deed Doc Tax" is at a rate of $0.70 per $100 = 0.70%. So you can take the Deed Doc Tax amount and divide by 0.70% to calculate the purchase price. Not sure how to figure out total points off the deed tax though

 

[Brianstl]

"Deed Doc Tax" is at a rate of $0.70 per $100 = 0.70%. So you can take the Deed Doc Tax amount and divide by 0.70% to calculate the purchase price. Not sure how to figure out total points off the deed tax though

I am sure all resellers/point renting brokers have all that information on the points each unit has because they are loaded with ex DVC employees. It is a rigged game..

 

[Sandisw]

I am sure all resellers/point renting brokers have all that information on the points each unit has because they are loaded with ex DVC employees. It is a rigged game..

It can be determined in official documents that are filed. You can also request that information from DVC if you are interested as that information is part of the resorts records since that was used to determine total points for that resort that could be sold.

It’s not secret information.

 

[mkatsy]

It can be determined in official documents that are filed. You can also request that information from DVC if you are interested as that information is part of the resorts records since that was used to determine total points for that resort that could be sold.

It’s not secret information.

The bank/borrow status of each of our contracts is private information. There is no public access point, you would need someone with log in credentials to the DVC system to give you that status.

 

[Sandisw]

The bank/borrow status of each of our contracts is private information. There is no public access point, you would need someone with log in credentials to the DVC system to give you that status.

I was referring to the brokers knowing how many points are in a unit so they can calculate how many points might be in that specific contract based on % showing in the foreclosed contract.

Anyone has access to that and that is what was asked about.

There was an insinuation that those who might have worked at DVC have access to information that we don’t. This particular information is not secret.

 

[mkatsy]

I was referring to the brokers knowing how many points are in a unit so they can calculate how many points might be in that specific contract based on % showing in the foreclosed contract.

Anyone has access to that and that is what was asked about.

There was an insinuation that those who might have worked at DVC have access to information that we don’t. This particular information is not secret.

Oh yes, I misunderstood. I usually just go look up the original deed and it’s on the bottom… no math

 

[mkatsy]

Looking through the foreclosure purchases yesterday I noticed an interesting pattern. If I were buying contracts to resell I would purchase a mix of use years because 99% of my customers only want one use year and I would need to accommodate them to make the sale. Most people are not going to accept a second use year. But that’s not what I saw. I saw $200,000 purchases of a single resort in a single use year, by a single LLC. now why would someone do that?

 

[Mouseforward]

Looking through the foreclosure purchases yesterday I noticed an interesting pattern. If I were buying contracts to resell I would purchase a mix of use years because 99% of my customers only want one use year and I would need to accommodate them to make the sale. Most people are not going to accept a second use year. But that’s not what I saw. I saw $200,000 purchases of a single resort in a single use year, buy a single LLC. now why would someone do that?

I would assume a strip/rent/ flip buyer would want BWV / BC deals. Where a straight flipper would want the best selling contracts like VGF

Someone who rents would not care about use year as much - you would just need 2-3 use years to space and plan out walks.

$200,000 is on average 1,500 points - what resort?

 

[mkatsy]

I would assume a strip/rent/ flip buyer would want BWV / BC deals. Where a straight flipper would want the best selling contracts like VGF

Someone who rents would not care about use year as much - you would just need 2-3 use years to space and plan out walks.

$200,000 is on average 1,500 points - what resort?

Saratoga it just dawned on me that they may have a hoard of the other use years and were restocking the one that was running low. The sheer volume of these sales is eye opening.

 

[Mouseforward]

Saratoga

So we can assume 2k + points - obviously not 11 month spec renting

Cooperation looking for cheap perks for employees would be my guess.

 

[DonMacGregor]

Looking through the foreclosure purchases yesterday I noticed an interesting pattern. If I were buying contracts to resell I would purchase a mix of use years because 99% of my customers only want one use year and I would need to accommodate them to make the sale. Most people are not going to accept a second use year. But that’s not what I saw. I saw $200,000 purchases of a single resort in a single use year, buy a single LLC. now why would someone do that?

Just in case Meemaw Esther in Omaha wants to join the corporate retreat next spring in that Poly bungalow. For a month.

 

[Sandisw]

Looking through the foreclosure purchases yesterday I noticed an interesting pattern. If I were buying contracts to resell I would purchase a mix of use years because 99% of my customers only want one use year and I would need to accommodate them to make the sale. Most people are not going to accept a second use year. But that’s not what I saw. I saw $200,000 purchases of a single resort in a single use year, by a single LLC. now why would someone do that?

Except the strip and flip model is not going to work like before because of the cap on rental income to dues.

As I posted, transferred points are not owned so there are no dues against them.

If an owner is already attached to 8000 points and gets transfer, they will still be capped at the cost of dues for the 8000.

That prevents the owner who get the points from receiving additional income…which, from what I read over the years is one of the big benefits of the strip and flip…move points to rent from other memberships and recoup the cost of buying as best you can.

The other part is that potential rentals on joint ownership will impact what an owner can do on their personal membership that may not include the joint owner.

ETA: given an owner can’t claim they paid anything for transferred points, because it’s not allowed, they can’t claim any rental income against them.

It’s why the more I think about this, the more I think it was a great way to do it to deal with those renting thousands of points.

 

[Cyberc1978]

Except the strip and flip model is not going to work like before because of the cap on rental income to dues.

As I posted, transferred points are not owned so there are no dues against them.

If an owner is already attached to 8000 points and gets transfer, they will still be capped at the cost of dues for the 8000.

That prevents the owner who get the points from receiving additional income…which, from what I read over the years is one of the big benefits of the strip and flip…move points to rent from other memberships and recoup the cost of buying as best you can.

The other part is that potential rentals on joint ownership will impact what an owner can do on their personal membership that may not include the joint owner.

ETA: given an owner can’t claim they paid anything for transferred points, because it’s not allowed, they can’t claim any rental income against them.

It’s why the more I think about this, the more I think it was a great way to do it to deal with those renting thousands of points.

I know we all have ideas of how the new renting policy should work, and also what should and shouldn’t be allowed.

But we ALL know Disney IT and most of it isn’t because of how awesome their systems are. I would need to either hear an official statement or see some action.
I know it’s probably a fat chance that they tell us anything. However renters on SoMe would probably be a good indicator when some action has been taken.
Unless of course the rental companies have some sort of NDA in their rental contracts?