Looking to diversify......

[BeesKnees]

They are also timeshares that do not rent out very well. You can avoid most of the issues by educating yourself. If you like Gatlingburg Bluegreen might be a good option for you. The Wyndham resort is nice but I don't like it's location. BG has a resort up the mountain in Gatlinburg and one toward apple valley in Pigeon Forge. Wyndham's near the interstate is a little nicer, but not in a nice a location IMO. Gatlinburg is also not that difficult to trade to. The westgate property is likely the nicest overall at present.

No. I don't mean a timeshare. I mean buying an actual property.

 

[Doug7856]

If you are not too particular about where you go, this can still work. But, for peak-period travel, Wyndham is really more effective used internally rather than through RCI---particularly since the global trade power revaluation from last year.

At least for the next few years we plan to use Wyndham. Our settlement was just completed and we are waiting for Wyndham to transfer our membership, but I understand that there are several RCI weeks banked that we will need to use over the next year (assuming they transfer with membership). Looking forward to exploring our options and planning our Wyndham vacations!

Thanks for your many comments on Wyndham, they really helped us evaluate the Wyndham products.

 

[Dean]

No. I don't mean a timeshare. I mean buying an actual property.

It's a great time to buy if you can afford it and if you don't have to rely on the rental to float it. We should actually close tomorrow on a condo in HH in a beach front complex. A big step and I'd be lying if I said I wasn't apprehensive about how things might go.

 

[BeesKnees]

It's a great time to buy if you can afford it and if you don't have to rely on the rental to float it. We should actually close tomorrow on a condo in HH in a beach front complex. A big step and I'd be lying if I said I wasn't apprehensive about how things might go.

Yeah, it is a big step. The idea is to buy one get it paid for, buy a second and let the first help with the second, then buy a third that is exclusively for us. We are at a really good place financially. The only think mucking up the works is the plan is also to purchase the land we will build our retirement home on and, like you said, I can't put myself in the situation where I must have rental income to pay for it.

Timeshares are much less risky but I'd love to have some income producing properties before we retire.

 

[Brian Noble]

We are thinking of buying an actual property that we rent when we aren't using it.

My uncle owns a rental home (in Orlando). If he had it to do over again, he wouldn't go that route. It's a lot of work, for surprisingly little return. If you are buying a retirement (or vacation) home for yourself, and thinking about recouping a fraction of the costs through rental, that's one thing. But, it is *very* hard to make money at it---not an investment.

 

[Dean]

Yeah, it is a big step. The idea is to buy one get it paid for, buy a second and let the first help with the second, then buy a third that is exclusively for us. We are at a really good place financially. The only think mucking up the works is the plan is also to purchase the land we will build our retirement home on and, like you said, I can't put myself in the situation where I must have rental income to pay for it.

Timeshares are much less risky but I'd love to have some income producing properties before we retire.

Sounds like a risky plan. Personally I'd only consider such a situation if I were in the business and lived local. I doubt returns will match mutual funds over the long run, esp if you are doing long distance landlording or using a management company. There are an awful lot of costs to a such an ownership that you don't think much about until you have to pay them. I'd do the one and see how it goes and make sure it's going to work out before you proceed with multiples.

 

[MarshallMoore6]

We recently bought a Marriott in Phoenix. We bought it on the resale market for a great price. We traded our studio room in the Phoenix in the summer for a studio in Hawaii. The Hawaian resort is right next to the new DVC property.

Some money went to Interval but a great trade.