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Forum -> Vacation and Traveling
Raleigh Hotel offering 9 year time share for $90,000.



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amother


 

Post Sat, Jul 19 2014, 11:38 pm
Why would anyone be interested? Am I missing something?

After 9 years you have nothing, so youre putting up $90,000, for use of the house for 9 years, except for Yomim Tovim, at which time they will be renting "your" house out. I doubt theyre offering food, unless you pay lots extra.


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Terms and Conditions:

Each unit comes fully completed and in move in condition, furnished with all furniture and appliances

Price per unit is $90,000 (group discounts available

Payments: deposit of $20,000 at signing of contract and $10,000 monthly thereafter

No additional annual cost involved. Price includes taxes, maintenance, insurance, electric, and gas

The units will be ready for the summer season of 2014

The time share contract includes the use of unit for 9 years including summer and winter use excluding Yomim Tovim

During the winter season the hotel will provide linen and housekeeping *

Closets locks will be available for time share buyer to keep their belongings secured for when they are not there

Final payment must be before occupying the unit

*for a minimal $100 fee per stay
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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amother


 

Post Sun, Jul 20 2014, 1:19 am
If I had $90,000, I would invest it in TenCent Stock (the Chinese version of Google). This is earning right now at least 10% a year average ($9,000 a year). I could take half of the profit and go on vacation with it.

Or I could be a partner in a real estate investment with several other partners in a commercial real estate building and also earn 8% a year and use the profits to pay for vacations.

Timeshares don't pay.
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Mama Bear




 
 
    
 

Post Sun, Jul 20 2014, 9:36 am
thats like paying $10,000 a year for a summer home. tha;ts stupid. buy one for $60,000 and it's yours to keep.
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sushi galore




 
 
    
 

Post Sun, Jul 20 2014, 12:32 pm
Mama Bear wrote:
thats like paying $10,000 a year for a summer home. tha;ts stupid. buy one for $60,000 and it's yours to keep.


Not exactly..... $60,000 will buy you an unlivable hole, basically a small lot. Today a semi livable bungalow will cost a minimum of $175,000. You still need to put in money - kosher kitchen....New flooring...bathroom...as Basics...... The Raleigh timeshare bungalows are brand New, everything included like kitchen appliances ..... food is included and you can use it yomim tovim if you choose to. I still would not go for it for 9 yrs. although I might decide not to stay on in 9 yrs time....
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Rosemarie




 
 
    
 

Post Thu, Aug 07 2014, 3:47 pm
Actually I am wondering the same thing as Mama Bear. Looks like food is NOT included, only housekeeping and linen. And yomim tovim are not included either. I assume that means they want to rent it out those times and if you want it you have to pay extra.
There is another ad in the Torah Times with a second option of 95,000 for 20 years plus 7,000 maintenance each of those 20 years. And I think this option does not include appliances and such.
Really doesnt seem worth it to me. Am wondering who would go for it
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Levtov




 
 
    
 

Post Thu, Aug 07 2014, 7:17 pm
How many bedrooms? can you sublet? My friend is paying$15.000 for a summer in Alpine for a 4 bedroom house. No linen included.
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Rosemarie




 
 
    
 

Post Thu, Aug 07 2014, 7:21 pm
Its only 2 bedrooms. Didnt look very big in the picture of the layout that I saw. Its more like a little cottage than a house. And it seems that they are a few attached together according to the diagram
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amother


 

Post Thu, Aug 07 2014, 7:24 pm
amother wrote:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Terms and Conditions:

Each unit comes fully completed and in move in condition, furnished with all furniture and appliances

Price per unit is $90,000 (group discounts available

Payments: deposit of $20,000 at signing of contract and $10,000 monthly thereafter

~~~~


I looked all over but I couldn't find this. Could you post a link?
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causemommysaid




 
 
    
 

Post Thu, Aug 07 2014, 7:34 pm
time shares are usually not a good investment.

frum ones are even worse.
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Rosemarie




 
 
    
 

Post Thu, Aug 07 2014, 7:34 pm
You can email cottages@raleighhotelny.com for all the info. I don't know how to paste a pdf here or I would paste the pdf they sent me when I asked for more info
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Rosemarie




 
 
    
 

Post Thu, Aug 07 2014, 7:35 pm
causemommysaid wrote:
time shares are usually not a good investment.

frum ones are even worse.

They are not really calling it a timeshare, rather a long term lease. I am not sure who they are targeting with this offer. I was interested until I heard the real terms.
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