Why you shouldn't invest in a timeshare

Yes, its true. The famous PT Barnum originated this saying, meaning that there will be many gullible people in the world. There is another saying-a fool and his money are soon parted. Please do not fall for the pie in the sky concerning timeshares. It is a bad investment and is almost impossible to get rid off.

WHAT THEY DON'T TELL YOU

When you get a call from a sales representative inviting you to get a free dinner or a free stay at one of their prestigious timeshares, politely say no and hang up. Unless you are a strong willed person, you are getting set up in what can be a eternal nightmare for you and your family. I have a friend who takes a vacation staying in a free timeshare every year. He enjoys its benefits and all he says is NO! They, constantly, call him because he supplies them with a list of leads. If you can do that, more power to you, but if you don't want to be harassed and can't say NO, run from a timeshare.

If you have accepted an invitation, the first thing the sales representative will do is smile and greet you. Then, he will set you up by getting some common ground with you. One example is-" Oh, you're from New York? I lived there for 20 years. Are you familiar with the trade towers? I used to work there!" It is a fact in sales, that the more they talk to you, the better chance there is of you opening up and trusting them. Don't fall for that trick. Don't be rude, just smile, nod and say-Ok, show me what you have!
Then, they will have you on a 1 hour presentation. Afterwards, you say that you are not interested. Be prepared, because a salesman doesn't take NO for an answer, If he did, he/she would starve to death. They will most likely tell you of its tax benefits. Cool, you think, but what they don't tell you is the ridiculous maintenance fees that you have to pay each year and it goes up! We had to pay $1,000 one year because of some "much needed improvements!"
Take time to read the fine print, because not everything that glitters is gold. They will tell you that you can sell it for a profit and if not, you can rent it. Well, think about it-With the high maintenance fees, that's all your rent is good for. No profit, just tit for tat! Oh, and the good part, your timeshare will go on to the next generation. In other words, if you die, your children will inherit your timeshares with its cost and maintenance fees.

SELLING A TIMESHARE?

Don't make me laugh. It is,almost, impossible to get rid of it. There are timeshares on EBAY that are going for $1.00 and guess what? Nobody's is interested. Thinking of donating it to a charitable cause? Forget it, it is not profitable for them. We had a timeshare which we, thank God, got rid of but at a loss. The only consolation is a good tax deduction, but when we think about how we saved our children from the curse of the timeshares, it was well worth it.

Want to hear something funny? When I was approached for a timeshare, they had me stay at a nice place on the Oceanfront with its beautiful scenery free of charge. When I signed the dotted line, I could stay every year looking at the back of a building-WOW! Great deal, huh? So, please be careful, unless you are like my friend who says No and provides them with a list of people and enjoy his stay in a free timeshare-Run from it. Another alternative to staying in a timeshare is to look for a nights stay in the internet, or just walk in and ask them what is the price for a one night stay. Timeshares are in trouble and are offering the public a stay in their place. Any comments, feel free to leave your inputs.