Tuesday, March 11, 2014

How To Get Rich - Avoid The Time Share Trap

Have you ever heard of a time share real estate investment ?

Do you think the wealthy invest in time shares ?

Truth is the wealthy stay as far away as possible from time share promoters !

What Is A Time Share

Time share real estate investments are products that are sold to unwary individuals that want to vacation in style. Quite often these scams are promoted to vacationers and involve some pretty high pressure sales tactics.I have seen them try to sell these for as high as $25,000.00 .Beware !

Basically, when you purchase a time share, you buy a 1 week per year use of a condo unit. Along with this you are required to pay an annual maintenance fee which can be very high. Once you buy one of these, it will be virtually impossible to sell to someone else. This is because there are so many time share resales on the market and some for as little as $99.00 . There is absolutely no real value to most time share units.

Listen But Never Sign

It can actually be a very interesting experience listening to what these promoters have to say. They will always get you hooked with a free offer of some kind. But never ever ever give them your credit card number or sign anything to get your freeby. If you do, be prepared for a huge negative surprise when you get home.

Also, if you agree to listen to their presentation, be prepared to waste at least half a day of your vacation. This is usually how long they persist until they give up and give you your freeby. Remember, nothing is really free. You will be spending your valuable vacation time to get this freeby.

What To Do

First, you must be able to recognize one of these scams when you see one. Time share promoters often phone people at their homes promising a free trip of some sort. Either a free stay at a resort or a free cruise. Also, while vacationing, you are bound to see many time share promoters enticing tourists with free stuff. I have seen free spa treatments, free theme park passes and have even seen straight cash. If something is being promoted as free, you can be sure a time hare promoter is near by. Beware.

It is possible to get your free stuff without buying anything. But be prepared to spend a half day listening to their sales pitch and enduring many attempts at them getting into your wallet. Some even get downright angry when you insist you just want your free stuff.

If you just want to enjoy a relaxing holiday, simply say no to the free stuff. Remember, in this world we live in, nothing is really free.

Vacation real estate investing should be left to the experts. Every country has different rules, therefore it is generally an area to stay away from. Rent your place while on vacation and invest your money back home in investments that you really understand.

As always, I welcome your comments and suggestions for future topics.

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