Large Polynesian Contract

[skier_pete]

I have NO idea, but is it possible that someone bought those points with the intent to rent them out rather than use them? Would a place like David's buy a bug chunk of points like that to rent for Bungalows? On the other hand could it be a couple of people who went in on the points together?

That doesn't seem likely. It's a HUGE investment that would take you YEARS just to break even (I'm too lazy to calculate but if you make even $8 a point, it would take 20 years to break even.)

Seems to me anyone that wants one of those bungalows for a week is someone with more money than sense. Wouldn't surprise me that they would also finance. Agree that it'll be a hard contract to sell if they ever do, but often people with that much disposable income don't worry about such things.

 

[disneynutz]

That doesn't seem likely. It's a HUGE investment that would take you YEARS just to break even (I'm too lazy to calculate but if you make even $8 a point, it would take 20 years to break even.)

Seems to me anyone that wants one of those bungalows for a week is someone with more money than sense. Wouldn't surprise me that they would also finance. Agree that it'll be a hard contract to sell if they ever do, but often people with that much disposable income don't worry about such things.

There are many company and corporate DVC owners who use the GV's as a company perk or write-off.

Bill

 

[Friendlyadvice2]

Just for reference, the contract referred to in the first post is not a fixed week deed. It's your standard issue 1,000 point August UY contract. It closed in mid-Feb, but was recorded this week (fairly normal recording time). I haven't seen anything filed yet with 5 fixed weeks.

 

[KAT4DISNEY]

Someone remind me again - what's the highest number of points a member can own?

Per VGF documents it was at a limit of 4,000 at a single resort and 8,000 aggregate over all DVC resorts.

 

[Friendlyadvice2]

There are many company and corporate DVC owners who use the GV's as a company perk or write-off.

Bill

One HUGE flaw with our tax system.

 

[Dean]

One HUGE flaw with our tax system.

Not necessarily. To legally write it off they'd have to use it exclusively for business related purposes, they couldn't legally use it personally and for business and also write it off. It's really no different than expensing an expensive meal from a company standpoint, at least for some companies.

 

[Muckbeast]

Those Polynesian bungalos are pretty sweet. I guess we all have to talk to this guy if we want to make a reservation.

 

[rsimon]

I'm still waiting for the 1000 point VIP club to be announced.

We gave up on the 1000 point VIP club that has been "talked" about for a few years now. Decided to sell off some points and build a house in Orlando realizing we were paying for a house with the cost of the points each year.

 

[DVC Doctor]

I saw a 2,000 OKW contract for sale several years ago. It took a long time to sell. I personally can't imagine any CM selling a 1,000 non fixed contract to someone without recommending g breaking it up into 250 or 500 point parts.

 

[huggybuff]

There's an 1100 point contract for Aulani up on the Timeshare Store site right now for $113,300. Ouch.