Quote:
Originally Posted by Rajoo
It is almost impossible to lose money on real estate if purchased prudently upon resale, unless one is hit hard by bad timing such as a prolonged recession. Resale of time shares on the other hand begin at 50% of original cost and then gets lower and lower since people simply cannot make the monthly payments. Put away $50 a week and you can stay in great hotels most anywhere for a week's vacation and pay for the flight.
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Congrats. That was a discussion totally devoid of rancor and insults.
Here in Central Florida, there at one time were timeshare resale outlets, mostly close to Disney. They came out about 5 years after I quit the business. And they lasted until Florida shut them down for fraud. (A lot of them were taking money and handing over useless paper for a week that might not exist.)
The problem with timeshare resales today is the impossibility of getting financing. You want a Resort World week, you have to pay the full cash price up front. Resort World is very nice, although it is located just off hwy 192, the most congested tourist trap of all time. I wouldn't buy there, but in the late 80s I used to sell it. Kissimmee, Orlando and the Reedy Creek district were practically different worlds from today.
Wanna invest in real estate in Central Florida, go with housing, especially rental housing. People are STILL moving in at record rates. Housing is very high in demand. And forget any pretense at zoning. They are building neighborhoods all over the place, high rise apartments, duplexes, etc and they don't care that those neighborhoods are putting thousands of cars on the already crowded roads there already, (hence the roads constantly being under construction.)
I'm so glad I moved away in 2003.