Timeshares: the good, the bad, and the ugly - Robert Kiyosaki, Kim Kiyosaki, and Tom Wheelwright

  Рет қаралды 50,163

The Rich Dad Channel

The Rich Dad Channel

2 жыл бұрын

A timeshare, often known as vacation ownership, is a commitment to pay for annual trips to the same resort or family of resorts for the rest of one's life. Today’s guests discuss the key factors to a positive timeshare experience.
Henri Moreau, Founder of Timeshare Properties Inc., says, “Timeshares are a lot like marriage, when you’re in a good marriage you’re close to heaven, when you’re in a bad marriage you’re close to hell.” He goes on to give expert tips on how to avoid timeshare hell, and how to find the right timeshare for your lifestyle.
Timeshares can also be set up in a business entity for maximum tax benefits. Tom Wheelwright, Rich Dad Advisor on taxes, says, “There are times you want to own it as a business, from a tax standpoint, if you are using it as a business it’s much easier to show business proof if it’s set up in a business name.”
Hosts Robert and Kim Kiyosaki are joined by guests Henri Moreau and Tom Wheelwright to discuss what a timeshare is, the pitfalls of timeshares, and the tax implications.
Questions for Henri Moreau? www.wmcredits.net
Tom Wheelwright: www.wealthability.com
www.richdad.com/
Facebook: @RobertKiyosaki
/ robertkiyosaki
Twitter: @TheRealKiyosaki
/ therealkiyosaki
Instagram: @TheRealKiyosaki
/ therealkiyosaki

Пікірлер: 126
@RobWilliams007
@RobWilliams007 2 жыл бұрын
Also, Marriot won a lawsuit against California for not allowing people to go to their timeshares during Covid. The state said they were hotels and Marriot argued that these were people’s vacation homes and they won.
@henryandthehorses5085
@henryandthehorses5085 2 жыл бұрын
Me: * pauses the video to watch other videos explaining what a timeshare is * wastes minutes searching for it and goes back to this video * Kim: "so please explain what a timeshare is for those who don't know it" Ah. Thank you, Kim.
@aqua6613
@aqua6613 10 ай бұрын
You must be as impatient and adhd as me 😆 I'm searching info on multiple levels only to find out the entirety was in one source
@gabrielrivera1915
@gabrielrivera1915 2 жыл бұрын
Very informative. I was gifted a timeshare and only pay maintenance fees that are less than $1000 a year, no monthly payments. I'm one of the happy ones, lol
@aqua6613
@aqua6613 10 ай бұрын
That's amazing, I just bought a timeshare for 16k and after that is paid off I'll just have the maintenance fees. As a trucker with no family this combines my work with my business because I can choose to live in my truck and then use all the benefits of the timeshare membership of discounted hotel stays and bonus time to go on vacation while I get paid to deliver loads to the resort destinations. Timeshares really aren't a good fit for certain people and to other people it's a blessing. I hope I can maximize my benefits in this way and since I am an independent contractor I am not tied to a company dictating to me how much or how little I can work. I work until I have enough money to take a break and enjoy my life.
@Murphys_Law9
@Murphys_Law9 9 ай бұрын
Happy until that goes to $3000 per year
@gabrielrivera1915
@gabrielrivera1915 8 ай бұрын
@@Murphys_Law9 possibly but it has been sub $1000 for over 20 years. I suppose if it gets to that high I’d sell
@ekirtsykcul9286
@ekirtsykcul9286 2 жыл бұрын
The first book I've ever read in my life until finished is Second Chance by Robert Kiyosaki. It changes my whole life. I mean my opinion especially my mindset. I've never know if Robert Kiyokasi had a KZfaq channel. If someone asks me about one of a million purposes in my life is "Talking with Robert". Even my English is not good at all. But I hope someday I can meet him personally and talking about everything.
@basha0810
@basha0810 2 жыл бұрын
I hate it when people trash timeshares. I had one for 7 years. It paid for itself. When I decided to sell it a year ago, I almost got what I bought it for. It sold within a week of listing with multiple buyers. The financial advice principles applied pre COVID don't apply anymore post COVID.
@kevinjohnson3521
@kevinjohnson3521 Жыл бұрын
Yes, depends on price and if the location is desirable. The interest is tax deductible! At the right price, you could rent it out if needed…
@AndreaRoldancpa
@AndreaRoldancpa 11 ай бұрын
Was it Hilton or Hyatt?
@asmith8092
@asmith8092 10 ай бұрын
Very informative and truthful....I just recently upgraded my TS and this show pretty much accurately addressed the most important things to consider and research. One of the key points about the resell option was that if you purchase a resell you typically will not have access or the ability to use your points to access other destinations and you can only use your home (resell) location. I have had my resort for over 20 yrs and the best advice I could give is that if you want that type of access....start out with the smallest timeshare you can afford without hurting your finances from the developer as they will give you the added points and such. I did that and upgraded over time (20 yrs) 3x. The developer gave me full equity value of what i paid towards the upgrade both times! I like having the ability to have many places to visit so that is why i did not purchase the resell. Lastly, I will state....DO YOUR HOMEWORK & DUE DILLIGENCE! Also, if you can, purchase DEEDED TIMESHARES not club points if you go with the developer. I absolutely love my TimeShare and my family and friends love and appreciate it too. It was a good purchase for me.....but I started small. I got that advice from a person who worked in the TIMESHARE business.....buy super small and (cheap) to get your foot in the door and use it. Also PLEASE REMEMBER TO PURCHASE FROM A REPUTABLE TIMESHARE RESELL OR NOT!! NOT ALL TIMESHARES ARE CREATED EQUAL!! IF YOU DON'T DO YOUR DUE DILLIGENCE....DON"T BE UPSET WITH A POOR OUTCOME!!
@princethomas1566
@princethomas1566 2 жыл бұрын
Reading about people grabbing multi-figures monthly as income in investments even in this crazy days in the market,any pointers on how to make substantial progress in earnings?would be appreciated
@tinacruz4430
@tinacruz4430 2 жыл бұрын
You have to have an idea on what you wanna invest in carefully before going in
@andreabratis3025
@andreabratis3025 2 жыл бұрын
is really refreshing to see a comment about Christiana Robert I got a chance to benefit from her services a few months ago and it has been a very smooth experience
@sonyabutler9503
@sonyabutler9503 2 жыл бұрын
If only some people would be patient to understand that Bitcoin isn't going anywhere, instead it's taking over the globe, she good
@hillsamerjackie8084
@hillsamerjackie8084 2 жыл бұрын
If you ever need an experienced tradr that will show accurate TA then I will sugjest Christianarobert
@jojo90s4
@jojo90s4 2 жыл бұрын
Thanks for the video and information on timeshare
@dkhil208
@dkhil208 2 жыл бұрын
Awesome show. All true.
@BLDigitalenterprises
@BLDigitalenterprises 2 жыл бұрын
Great Show 🙂 Guys i learned a lot
@ejh_x2
@ejh_x2 2 жыл бұрын
Thanks Rich Dad Radio!
@Spiritman371
@Spiritman371 5 ай бұрын
Straightforward conversation. I appreciate the information shared
@insidethecomputer
@insidethecomputer 6 ай бұрын
Great discussion Robert! Always buy on the secondary market, NEVER from the developer. Timeshares that originally cost $30,000 can be purchased for $1,500. Just make sure there is good management and LOW maintenance fees. Timeshares are not real estate. There are some very sorry people out there.
@Daniel-lv2vv
@Daniel-lv2vv 2 жыл бұрын
They have real estate reits on the stock exchange. They legally have to pay out the monthly rent to shareholders minus expenses. You also get to enjoy the ups and downs of the real estate market with them. No headaches with bad tenants. No repairs No depreciation. And Your shares can be bought and sold by a click of the button. Not weeks or months.
@Chillingworth
@Chillingworth 2 жыл бұрын
Those steampunk glasses are awesome
@danimal5918
@danimal5918 2 жыл бұрын
The legendary Robert
@kasiadobija
@kasiadobija 2 жыл бұрын
Cool glasses Robert!
@pinned_bytherichdadchannei8650
@pinned_bytherichdadchannei8650 2 жыл бұрын
Thanks for watching Send a direct msg right away WhatsApp✚15044461929
@MultiDynamic
@MultiDynamic 2 жыл бұрын
Financial education is pillar of elite people, middle class people need to learn from them to convert liability to assets for financial freedom !
@pinned_bytherichdadchannei8650
@pinned_bytherichdadchannei8650 2 жыл бұрын
Thanks for watching Send a direct msg right away WhatsApp✚15044461929
@KevinSolway
@KevinSolway 2 жыл бұрын
$200 per night (maintenance) doesn't include the cost of the actual timeshare. If you include that, you might be paying $1000 per night.
@deathlarsen7502
@deathlarsen7502 2 жыл бұрын
exactly. these guys are charlatans.
@kevinjohnson3521
@kevinjohnson3521 Жыл бұрын
Depends on the price that you buy it at!
@ericeverson5956
@ericeverson5956 2 жыл бұрын
Hilton has a hotel/condo's in Batumi, Georgia right next to the soccer stadium:)
@judithbermudez22
@judithbermudez22 Жыл бұрын
I've worked for a timeshare for quite some time, so there's a few things I can say about it ..the good, the bad and the ugly
@kevinjohnson3521
@kevinjohnson3521 Жыл бұрын
Tell me more!
@wheresmymoneyat2482
@wheresmymoneyat2482 11 ай бұрын
do tell...
@CryptoVin
@CryptoVin 2 жыл бұрын
Time shares used or new are a waste of money. Glad I watched this to confirm my beliefs.
@mattkelly9186
@mattkelly9186 2 жыл бұрын
This video was good but can you make a video to talk about the new Bitcoin futures etfs using fake sell orders to keep the price low its like they have been doing to precious metals for years.. starting to think you guys cant see it..
@emmafuentesbaltazar8801
@emmafuentesbaltazar8801 2 жыл бұрын
Godbless
@pinned_bytherichdadchannei8650
@pinned_bytherichdadchannei8650 2 жыл бұрын
Thanks for watching Send a direct msg right away WhatsApp✚15044461929
@cosasinteresantes1785
@cosasinteresantes1785 2 жыл бұрын
Robert Kiyosaki is like the Rich Dad to lot of us. Lot of us we didn't have a "good" dad, and learning from him is like him learning from his Rich Dad.
@yvetteepstein1002
@yvetteepstein1002 2 жыл бұрын
How are fees in perpetuity not "unconscionable" and thus a reason to get out of the contract?
@AndreaRoldancpa
@AndreaRoldancpa 11 ай бұрын
Same way taxes arent unconscionable it's a cost related to holding an asset
@jaimebanks7942
@jaimebanks7942 Жыл бұрын
Hi, can an already purchased timeshare with a deed be changed to a business? or is it stuck as my "personal asset" forever?
@kevinjohnson3521
@kevinjohnson3521 Жыл бұрын
Can be done!
@ruud4508
@ruud4508 2 жыл бұрын
Today they pulled George gammon's "The Rebel Capitalist" channel. It's about to hit the fan, anytime now.
@johnpalmer3911
@johnpalmer3911 2 жыл бұрын
Maintenance fees always go UP!
@collinstevens4610
@collinstevens4610 2 жыл бұрын
Love your glasses. What are they?
@anthonycastaneda9649
@anthonycastaneda9649 2 жыл бұрын
the hell with that, i said no once when i was in las vegas, some sell man was trying to sell me a timeshare, kind of bullying people there i think the timeshare was diamond, but i dont regret it and i definely say no a hundred times, these is a scam scam scam!!!!
@KevinSolway
@KevinSolway 2 жыл бұрын
If a timeshare is shared by 52 owners, the cost of a timeshare shouldn't be more than $3000.
@rosellibadia7872
@rosellibadia7872 2 жыл бұрын
I have 2 wks a yr too.
@pinned_bytherichdadchannei8650
@pinned_bytherichdadchannei8650 2 жыл бұрын
Thanks for watching Send a direct msg right away WhatsApp✚15044461929
@georgeowen87
@georgeowen87 2 жыл бұрын
Hi guys, have you seen that in the UK you are no longer permitted to offset mortgage payments as expenses as part of a real estate investment company! Thoughts?
@lubosimaboshe
@lubosimaboshe 2 жыл бұрын
awesome show
@howardfitness2029
@howardfitness2029 2 жыл бұрын
They have these all over Orlando
@violetlightburst
@violetlightburst 6 ай бұрын
Built on swampland ...
@rosellibadia7872
@rosellibadia7872 2 жыл бұрын
Tom it was a bliss for me too. mine is in Waikiki beach.
@pinned_bytherichdadchannei8650
@pinned_bytherichdadchannei8650 2 жыл бұрын
Thanks for watching Send a direct msg right away WhatsApp✚15044461929
@michaelstarr1285
@michaelstarr1285 2 жыл бұрын
What time is the crash?
@karonwilliams6302
@karonwilliams6302 2 жыл бұрын
A blessed day to you brothers and sisters. (We are all called to be family in Christ!🙂) Family, JESUS CHRIST THE LORD DIED FOR OUR SINS, HE WAS BURIED, AND HE ROSE AGAIN THE THIRD DAY!💯🔥🙂 Jesus (the SON OF GOD) LOVES US ALL!💯🙂 Peace and love to you all in the name of the Lord Jesus!🙂
@RobWilliams007
@RobWilliams007 2 жыл бұрын
Usury laws - ha. There are credit cards out there charging like 49%.
@kingdavid3441
@kingdavid3441 2 жыл бұрын
I HAVE BEEN MAKING LOSSES TRADING MYSELF... I THOUGHT TRADING ON DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET...CAN ANYONE HELP ME OUT OR AT LEAST ADVICE ME ON WHAT TO DO.
@judgehood4858
@judgehood4858 2 жыл бұрын
Lack of trading, discipline is the primary reason for trade losses, it is estimated that nearly 80-85% of intraday traders end up lossing money in the stock market experiencing loss is also part of the game but that doesn't mean you should blow your trading account.
@gyakeeferrum7981
@gyakeeferrum7981 2 жыл бұрын
I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs cathie wood.
@WallStreetSilverOfficial
@WallStreetSilverOfficial 2 жыл бұрын
Join the movement Wall Street Silver! We have over 160,000 members on reddit and cover the market!!!
@cryptobag3073
@cryptobag3073 2 жыл бұрын
Congratulation to you Robert for holding BTC. Today is a great day!
@420driven
@420driven 2 жыл бұрын
I LOVE YOU SIR BUT WHY DO YOU PREACH OLD BITCOIN WHEN YOU COULD PREACH XRP, THE STANDARD?????!!??!!!
@theawakened2245
@theawakened2245 2 жыл бұрын
The most expensive impulsive buy
@jimromero1121
@jimromero1121 2 жыл бұрын
The lady who pays 3K a month should let it go into foreclosure. Do the math. 3K X 12 months is 36k a year X 7 years = $252,000 back in your pocket at the end of 7 years in exchange for a bad credit rating for 7 Hmm. Give me the money
@phuocnguyenlethanh2439
@phuocnguyenlethanh2439 2 жыл бұрын
im sorry but why does she get a bad credit rating
@jfarm30
@jfarm30 2 жыл бұрын
@@phuocnguyenlethanh2439 because Foreclosure affects your credit negatively.
@vinaybichave2156
@vinaybichave2156 2 жыл бұрын
For the first time I have heard timeshare, its time to google more!
@ericeverson5956
@ericeverson5956 2 жыл бұрын
Thanks much. Great video.
@mikedmann7487
@mikedmann7487 2 жыл бұрын
ATH today. Yeah got 10 days left. Keep writing books and let the traders predict the market!
@wanderingdoc5075
@wanderingdoc5075 2 жыл бұрын
Yea when's this October market crash coming? I'm still waiting.
@T.M1999
@T.M1999 2 жыл бұрын
Where ypu going?
@DemetriPanici
@DemetriPanici 2 жыл бұрын
Timeshares straight up sound like a bad idea from anyone who has ever talked to me about it
@asmith8092
@asmith8092 10 ай бұрын
As a timeshare owner (for over 20+ yrs) I can only respond that...1) I agree it isn't for everyone, 2) Educate yourself on the pros and cons for your situation 3) Not all timeshares are the same (Apples to apples and not Apples to oranges) meaning there are luxury timeshares compared to not luxury timeshares. A decent managed timeshare will typically be better than a hotel or unknown AIRBNB/RENTAL in my opinion.
@brickstudiolillyalexander8902
@brickstudiolillyalexander8902 2 жыл бұрын
Always good informations! Thank you and your glasses are really cool!
@socialpublisher123
@socialpublisher123 2 жыл бұрын
I thought I was the only one who thinks Robert's glasses are cool. Lol
@brickstudiolillyalexander8902
@brickstudiolillyalexander8902 2 жыл бұрын
@@socialpublisher123 :-)Maybe the glasses are a note on invest :-)
@carlexus3133
@carlexus3133 11 ай бұрын
They lovvee fees.
@superabundace8907
@superabundace8907 2 жыл бұрын
Star atlas, the next axie infinity. Mini game out in dec, easily 20x moon
@VishalLandge
@VishalLandge 2 жыл бұрын
Does Kiyosaki has any children
@key11207
@key11207 2 жыл бұрын
time shares have always been absolute garbage specially in these times with so many apps and websites out there that you can rent places for a fraction of the price when you need it
@YacDiesel
@YacDiesel 2 жыл бұрын
Mr Kiyosaki, have you ever considered a Presidential run?
@louish.9414
@louish.9414 Жыл бұрын
Timeshare salesman are not honest one guy on KZfaq laughing at how tricked people and sold 40k .
@MariaGarcia-je9pu
@MariaGarcia-je9pu 2 жыл бұрын
Bitcoin is the feature investing in it now is the wesest thing to do now especially the current rise
@stclinton5630
@stclinton5630 2 жыл бұрын
Despite all the economic crisis this is the right time to start up an investment
@mralex8734
@mralex8734 2 жыл бұрын
Stock are good but crypto is more profitable
@harryc7156
@harryc7156 2 жыл бұрын
wanted to trade crypto but got confused by the fluctuations in price
@mrmichael2263
@mrmichael2263 2 жыл бұрын
That won't bother you if you trade with a professional like Mr Williams
@harryjackson4813
@harryjackson4813 2 жыл бұрын
Yeah My first Investment with Mr Williams earned me profits of over $24,320 US dollars and ever since then he has Been delivering
@abelucas3037
@abelucas3037 2 жыл бұрын
Timeshares are a scam, always have been. Well within reason. You really have to know what you're doing, so you don't get screwed.
@UVCindy
@UVCindy 2 жыл бұрын
Robert: what's 15 percent mean? Kim: interest rate on their loan Robert: 😲 😂😂😂❤
@kevinjohnson3521
@kevinjohnson3521 Жыл бұрын
If you need the tax deduction, why does it matter?!?!
@kevinjohnson3521
@kevinjohnson3521 Жыл бұрын
Oh, you do not understand
@kevinjohnson3521
@kevinjohnson3521 Жыл бұрын
The price that you buy it at is most important
@zacharyzero
@zacharyzero 2 жыл бұрын
Also why does this guys face look like a Minecraft character
@localresident6783
@localresident6783 2 жыл бұрын
RIP OFF
@darwin123dj
@darwin123dj 9 ай бұрын
Timeshare sale your time vacation on there conditions and very expensive way forever. They do this legally so is hard for you to do anything. They are been Training to get you sing a contract using even your family. This I horrible 😤.
@zacharyzero
@zacharyzero 2 жыл бұрын
All I got out of this is that time shares are garbage and Airbnb is better
@user-yj8hi2fl5x
@user-yj8hi2fl5x 2 ай бұрын
NOTHING GOOD HERE, run away, This is the biggest scam you will experience, and is one SCAM that you could pass onto your children
@Kam-Dios-
@Kam-Dios- 2 жыл бұрын
I see absolutely no benefit in a timeshare.
@hassandenisbaba2556
@hassandenisbaba2556 2 жыл бұрын
Good day Rich Dad, please I want to know more about crypto trading and want to be mentored as well.Thank you
@crazyprayingmantis5596
@crazyprayingmantis5596 2 жыл бұрын
Bitcoin just broke ATH and you're putting out a body about timeshare? 😳
@gfolgore80
@gfolgore80 Жыл бұрын
There is no such a thing as a good time share. Worst product in the vacation industry. I would not even call it an asset or a liability. It's nothing, it's furgacy...fairy dust
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