WHAT IS A TIMESHARE?

Рет қаралды 66,385

4 жыл бұрын

What is a timeshare? How are they structured and how do they work? We talk about different types of timeshares, fixed weeks vs variable weeks, and talk about one pro and one con.
1:43 - Deeded ownership
2:14 - Leased ownership
2:46 - Right to use
3:37 - Fixed vs variable weeks
4:56 - Benefits adding flexibility
6:20 - A pro and a con
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Episode 24
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EXPLORE INFORMED is a travel show where we dig into the details of travel, investigate an interesting topic, or attempt to answer a common question -- all with the goal of hopefully learning something new so that next time we go exploring, we go better informed.
We hope to provide information, advice, and education in the form of travel tips, travel hacks, travel essentials, and even travel warnings or things to watch out for - so you can explore the world a little smarter.
Please Note: Unless otherwise noted, I am NOT being paid or reimbursed to talk about specific travel brands (e.g., airlines, hotel chains, tour operators). My intent is to simply offer my true, honest opinion based on what I know, research, read, etc.

Пікірлер: 150

@ExploreInformed 2 жыл бұрын

Hi everyone. Thanks for watching. For the record, I do not own a timeshare nor am I advocating you buy one. I am aware of the issues with them (was once a Dave Ramsey fan, etc.). I myself was curious about how they are structured legally so I did some research and made this video.

@jerrypie 3 жыл бұрын

I'm just here because Dave Ramsey made a video roasting time shares and I had no idea what it was

@ExploreInformed 3 жыл бұрын

Hi Jerry - Yes, I'm aware he's not a fan. I'm not sure I am either, but i was most interested in how they work from a legal / property view so I decided to investigate. Thanks for watching!

@OscarRodriguez-hc5pp 3 жыл бұрын

Loll same

@arminass1681 3 жыл бұрын

Same

@randyhoffmann7426 3 жыл бұрын

Lol literally just got done watching Dave ramseys video on this. Also why I'm here. Hahaha

@TheBerts87 3 жыл бұрын

If u do not plan to travel multiple times a year or if u do not plan to rent out ur timeshare do not get one. U will hate it and bash it when it's very convenient. I have 2 one to rent and one for me and family to use when we vacation.

@bigo3248 3 жыл бұрын

Biggest mistake I made in my life signing up for a timeshare. Please people don't make the same mistake as I did I came on here just to let people know that it's a big mistake

@daisyyd 3 жыл бұрын

What timeshare did you sign with?

@crystalxu4275 3 жыл бұрын

big O How can I get out of my timeshare?

@bigo3248 3 жыл бұрын

@@crystalxu4275 start complaining to them that you're not happy whit them. You need to build up completes first. Its still hard to get out but that's you're first step

@crystalxu4275 3 жыл бұрын

big O thanks！so you Did get out your Timeshare?

@bigo3248 3 жыл бұрын

@@crystalxu4275 im paying Wesley Financial Group less than the timeshare to get out. They told me it take up to a year and 18 months. I just started it not long ago

@thewhitewolf58 4 жыл бұрын

Sounds like an overly complicated way of someone making money off of a property

@ExploreInformed 4 жыл бұрын

Do you mean from the developer's point of view?

@fanbat 3 жыл бұрын

Siege gang

@amyy9752 Жыл бұрын

Timeshare were very popular in the 80s and 90s, before we had the internet to look for deals. They were especially popular for families, because you’re typically staying in condos with kitchens and multiple bedrooms. My parents own 10 weeks of timeshare, including Disney and Marriott. It’s a lot of work to book the dates you want and locations you want. There are many condos on Priceline and Hotwire now for about the same or lower than maintenance fees for a timeshare.

@MissRazna Жыл бұрын

just curious, for all that effort and money wouldn't it be better to just make your living space better? why burn all that gas to go on ten weeks of vacation every year. that seems absurd. there is no way vacation is more fun than being home unless your home completely sucks.

@chocolatechipslime Жыл бұрын

@@MissRaznavacation is so much fun, I’m someone that likes to see new places and experience new things, I also don’t like to stay in one spot for too long so I’m always going somewhere, it’s just in my roaming nature. Being at home for too long makes me bored.

@timelessmusicfamilymusic9175 3 жыл бұрын

I don't like an on going bill that I may or may not ever use. I like to on vacation & pay the bill in full when it's all over. Pay only what I 'actually use'. Plus, I don't like going to the same place over & over again.🏖

@GFHVB4 3 жыл бұрын

Just book a hotel room and walk away with no obligation. Timeshares are a total scam.

@henryesp9284 2 жыл бұрын

You clearly don't know how it works. Timeshare in the long run works out much better than hotels. With hotels you are getting hit with inflation. Why rent your hotel when you can own it for alot less

@amyy9752 Жыл бұрын

Maintenance fees go up, as well.

@persona5305 Жыл бұрын

or airbnb.. you won't be obligated to pay maintenance fees etc.

@sakshamduggal4847 4 жыл бұрын

Thanks for the valuable information. 🙌

@ExploreInformed 4 жыл бұрын

Thanks for watching Saksham

@paulmaartin 3 жыл бұрын

You endure the presentation and then you enjoy the free shit.

@AsilEroom1 3 жыл бұрын

I stayed in a former family member's timeshare in Mexico. It was actually very nice and we had an enjoyable time. The only thing is we were highly encouraged to go to the free welcome breakfast which was an intense timeshare selling meeting. We stuck to our guns saying no, got our free breakfast and a discount to use on a local attraction. That part sucked. The rest of the resort was beautiful and the service was amazing. I know that's not everyone's experience though.

@mariemetelus5261 2 жыл бұрын

I’m trying t get it I don’t know how does work f Mexico

@chrisorr8601 2 жыл бұрын

Surely it's just easier to look around in the area, and just rent a villa/apartment for the same week each year. Because that way you probably won't be dealing with a corporation, and you can build a rapport with the owner and maybe get discounted rates if you book regularly

@ronaldcastrovega5618 3 жыл бұрын

Im here because of Dave Ramsey. Information is more powerful than money, and if a guy with the credibility of Dave says that this industry is BS, then you'd better learn their pitch in order to avoid getting scammed

@duggygee6387 3 жыл бұрын

Very good analysis. Slight correction about 52nd shares. 52nd shares have 51 owners (1 week set aside for annual maintenance).

@ExploreInformed 3 жыл бұрын

Ah, that's helpful. Thanks!

@greggulf7185 3 жыл бұрын

While sitting through a timeshare sales presentation, lovely unit only 17K, I then googled the complex and found a similar unit for one dollar from a desperate seller..oh and do some quick math on the cost of maintenance fees over the years

@alicea5 3 жыл бұрын

If you can share, how much is the annual maintenance fee for that complex? I would understand if the unit was luxurious and everything about the unit is top modern edge technology and decoration, but for a regular unit...I would just book a cheap hotel for the night and be on my way. I am beginning to feel that timeshare is only for the “rich” middle class.

@philliam111 3 жыл бұрын

I'll save y'all 9:01 .. It's a scam

@shah.n2099 3 жыл бұрын

Wdym

@aw2584 2 жыл бұрын

It's like renting a hotel room but you do it once and then are forced to do it forever, keep paying for it whenever you go use it or not, also fees, maintenance etc. Stack up and keep growing and you're stuck basically having money disapearing from your account for nothing. If one doesn't think it's a scam just show him or her how tons of people put their timeshares for sale for 1 dollar... And yet no ones buying lmao thankfully most people aren't that stupid when they have a chance of googlijg this stuff instead of being pressured at some sales pitch. If you ever go to a meeting of this sort, just remember.. Getting a hotel for a week once a year will cost you less. And you can travel around the world a week per year instead of being forced to go to this one specific place because you must pay for it lmao.

@DestinationTimeshare 3 жыл бұрын

Great information explaining timeshares. They certainly can be a good way to travel for those that know how to use them. They take work and a lot of research to get the most value from them. Unfortunately many people buy them after sitting in on a 60 minute sales pitch and don't do the research needed to decide if it is the right product for them. Thanks for the thorough explanation about timeshares!

@ExploreInformed 3 жыл бұрын

So true!

@AndreaRoldancpa 3 жыл бұрын

Yes! I wish more people knew about the resale market instead of being grifted by the developers.

@DestinationTimeshare 3 жыл бұрын

@@AndreaRoldancpa Sadly the developers pray on the uninformed. Some find out in time to rescind their purchase, but many others do not. Resale is the best way to get into timeshare, and for pennies on the dollar!

@alicea5 3 жыл бұрын

Exactly! I heard people were either pressure or the sale pitch make it sounds so easy/aggressive that people thought it was right for them. There r KZfaq videos on how to survive timeshare sale pitch/presentation and how people are lured in.

@matthewmelanson2686 2 жыл бұрын

It’s legalized fraud

@s_s_rsh Жыл бұрын

Here after jon olivers video about timeshare

@zachg9065 2 жыл бұрын

My thoughts on timeshares is that they are a scam, you will grow tired of going to the same place over and over, and you can’t go any time you want! If you want out of a timeshare, then good luck, you can’t give them away!

@michellewashington6264 2 жыл бұрын

Hilton is a little different because you can use any of there hotels around the world 🌎

@michellewashington6264 2 жыл бұрын

But you are right you can always pay to go to any hotel you want anytime you want to.

@nestam6844 3 жыл бұрын

I am here because dave ramsey hates them apparently

@ThePeterDislikeShow 3 жыл бұрын

Me too! If not for Dave Ramsey I'd have never known what a timeshare was!

@alicea5 3 жыл бұрын

I actually I think Dave rant because they r biting his butt now.

@tanpham7411 2 жыл бұрын

@@alicea5 Nah, he’s been ranting on them for years and years. It’s nothing new.

@jeremiahhedeen3879 2 жыл бұрын

Maintenance fees????

@chrismanlawe2528 2 жыл бұрын

Just curious, can you charge people to use your share of the timeshare?

@blakeker Жыл бұрын

You can rent it out

@jerardocontreras1572 4 жыл бұрын

Are you from Texas? I know the Alico building in that picture frame

@ExploreInformed 4 жыл бұрын

Hi Jerardo - I am! Live in the DFW area and went to school in Waco. How about you?

@zamzam2k467 3 жыл бұрын

@@ExploreInformed omg I went to AJMoore high school in waco!!! ( Found my lost cousin @explore informed!!!!

@mynamejeff8401 3 жыл бұрын

TSTC

@jerardocontreras1572 3 жыл бұрын

@@ExploreInformed I was born and still live in Waco!

@MohammadAli-yu6xn 3 жыл бұрын

Thank you sir

@fedechan9409 3 жыл бұрын

This sounds like rent with extra steps

@ExploreInformed 3 жыл бұрын

Ha, fair point

@lebomohlala8846 2 жыл бұрын

Yes, renting with extra unnecessary steps. Just book a hotel for that time and when you done check out and go home, contract and paperwork free.

@desmondhughes9143 6 ай бұрын

Thank you

@mateodemateus5444 7 ай бұрын

Is anyone trying get out timeshare? Can any share any experience with me?

@clarkcrosby9787 3 жыл бұрын

is timeshares the same as tidelines

@ExploreInformed 3 жыл бұрын

I’m not sure what you mean. Sorry!

@lajaech 4 жыл бұрын

Thanks!

@ExploreInformed 4 жыл бұрын

You bet!

@busimo 3 жыл бұрын

Why not use airbnb instead?

@ExploreInformed 3 жыл бұрын

Many people do. I'm not advocating for it and would never buy one. I was curious about the legal structure and how they function.

@puppetsland2206 3 жыл бұрын

I use tradeblock

@ashleyking2603 Жыл бұрын

They have companies to get you out of timeshares. If you were interested in buying one here’s your sign.

@Psst.Haylie.Said. 3 жыл бұрын

I am getting a time share for free. My fiance and I travel a lot and are getting it for a resort 2 hours from home. So we feel we would use it a lot. We can also use it at different locations.

@ExploreInformed 3 жыл бұрын

Just be aware of the mandatory fees and some of the common challenges with selling / offloading

@amyy9752 Жыл бұрын

You’ll be responsible for paying maintenance fees that usually add up to renting a week through websites. The main place we’ve seen our timeshare is worth it is ski resorts, but it’s hard to get the week you may want. You have to set timers to book exactly 10 months before, or whatever the rules are.

@lisak1355 7 ай бұрын

You'll soon realize it's the worst decision you've ever made. It's something you can never get out of, and it's dept that's inherited.

@Psst.Haylie.Said. 7 ай бұрын

@@lisak1355 we ended up not thank God

@MrSoloDev 3 ай бұрын

Nothing in life is for free

@simeonjoy3948 3 жыл бұрын

Your video really helped me to understand timeshare

@ExploreInformed 3 жыл бұрын

Thanks for the feedback, and for watching!

@kiddor909gmail 3 жыл бұрын

I saw a timeshare in Brookings Oregon thats $40k plus hoa fees of $397/mo. Does that mean we pay the 40k or do we share that with others.? Is the monthly fee something I'd have to pay every month, or just when I'm there? Is it common to only get one week per year? Because if so it'd be cheaper to rent a 5 star motel. It doesn't list times available. Do we pay all property taxes or is that shared? Thanks so much

@matthewmelanson2686 2 жыл бұрын

Do ur own research dumbass

@chocolatechipslime Жыл бұрын

A time share to go to a city with some of the worst weather in the country, don’t seem like a good idea to me

@karlamejia-miranda8798 8 ай бұрын

Pretty sure the 40k is probably the totality of your mortgage part as a timeshare holder. But agree Oregon has lots of snow and rain and it can prevent you from actually enjoying being there on vacation.

@jonathanalinei7673 2 жыл бұрын

Can u time share a major business like Disney or universal studios

@ExploreInformed 2 жыл бұрын

Disney does have a timeshare unit I believe, or at least it's Disney branded.

@sachinkumargupta7880 Жыл бұрын

Last week tonight explaining/roasting timeshare. It contains a lot more that you need to know - kzfaq.info/get/bejne/eMpilcV51Ly1g4E.html

@kylernez171 3 жыл бұрын

Guys, guys, guys! I just got an idea. Two words that could solve all our housing problems. Time share!

@bettyechols6405 2 жыл бұрын

How would that work? You have a house 1 week a year

@rapolas.b 3 жыл бұрын

👍

@CrimsonFox36 3 жыл бұрын

Sounds like a great deal!

@ExploreInformed 3 жыл бұрын

Can be for some people - just has to work with your lifestyle. Thanks for watching!

@bruhsauce644 3 жыл бұрын

@breakfastinbath4017 3 жыл бұрын

Your an idiot

@frances7858 2 жыл бұрын

@@breakfastinbath4017 you're* lol

@vineshmuniandy425 2 жыл бұрын

You got got

@nurhanakcam5491 2 жыл бұрын

Work

@tiearascott972 2 жыл бұрын

I feel bad wen they offer this for deals and stil gotta say no lol

@MissRazna Жыл бұрын

timeshares seem like a scam immediately upon hearing about them

@realtalkchannel1275 3 жыл бұрын

Dave ramsey says timeshares are bullshit

@geo865833 2 жыл бұрын

And they are.

@Mariam-qd9yf Жыл бұрын

I’m here to see what armie hammer second job actually is. First job is eating people.

@bettyechols6405 2 жыл бұрын

Hotels...

@CesarJoel94 2 жыл бұрын

It’s a scam , period.

@maymalibiran6332 Жыл бұрын

@CANCELMEE 10 ай бұрын

Sounds like a scam to me

@chocolatechipslime 3 жыл бұрын

Sounds like a bunch of crap

@rubyhill2584 Жыл бұрын

Scammers scammed

@alicea5 3 жыл бұрын

U did a little reading and research? Ha😆. You should never be educating people when you do “little” research. If u can tell us this much, give yourself some points you have done a lot of reading/research!

@ExploreInformed 3 жыл бұрын

Thanks for watching and providing feedback!