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  1. #1
    Join Date
    Jan 2014
    Posts
    51

    Don't buy what is not built yet!

    My dad bought a holiday flat by the beach for one week for the rest of his life, so he thought. The problem was that the flat was not built yet, so we spent the first five years going to other flats. Also, he bought the flat for life, but every single year there was a "maintenance expense" almost the same value of renting a similar flat.

    So, no time-sharing, please!!

  2. #2
    Join Date
    Apr 2014
    Posts
    50

    Re: Don't buy what is not built yet!

    So actually that was a double scam, I'm sorry to hear about that! Your dad never got the apartment in time and when he did he was charged the the regular hotel or apartment rate? Legislation should be made to prevent this, a real scam!

  3. #3
    Join Date
    Apr 2014
    Posts
    50

    Re: Don't buy what is not built yet!

    Oh man, that is a big bummer. Personally, I have never been a fan of time shares, they always seem like scams to me! Do any of you guys have a time share? What do you think of it?

  4. #4
    Join Date
    Jan 2014
    Posts
    51

    Re: Don't buy what is not built yet!

    It was, my dad was negotiating with the man a lower rate, but it was a lost negotiation to start with because all the deal was a lie. Legislation leaves a void for this giant scams. New deals are always dangerous.

  5. #5
    Join Date
    Oct 2011
    Location
    Amsterdam
    Posts
    15,510

    Re: Don't buy what is not built yet!

    Ya know, I have an old internet business partner from Australia, and that's all he does and he makes millions now. He loves condos in my tourist towns. He will will put in $50,000 pre development as a down payment. It then takes around a year or 2 (Mexico). The loan was for $250,000 (two bedroom condo), and every single time when the condos done, he gets offers from $325,000 to $375,000 a week before its ready. He then lives in it, furnishes it, makes it nice. Sometimes he flips, othertimes he rents it out through an agency for up to $300 a night. The places are always nice, pools, access to the town and beach. Alot of people hate hotels like fisherman and families. He's never lost money ever. But to get the scenerios like this, you gotta pay upfront and not be stifled by having some money tied-up interest-free.

    Are there scammers out there? Yes. But there's also alot of opportunity out there.

  6. #6
    Join Date
    Sep 2014
    Location
    Dallas
    Posts
    35

    Re: Don't buy what is not built yet!

    The best advice is NEVER buying a timeshare anywhere. It is a scam and the so-called timeshare you buy is sold over and over again to other people. It is very difficult to sell your timeshare now and renting isn't in the deal. It will cost you more to buy a timeshare and maintenance fee than to rent a hotel room or a full ownership of a condo. Don't do it. There is good information about timeshare scams: http://www.timesharescam.com/timesha...re-complaints/

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