Hi All,
Today’s tip of the day is avoid timeshares.
Timeshares are real estate investments, usually a single house or condo unit, that is owned by a number of investors. Each investor may personally use the property during designated weeks, which are usually sold in units of two weeks.
Timeshares are bad investments for several reasons. First, the unit price – say two weeks for $10,000 is more expensive on an annual basis than you’d pay for the entire apartment. Second, maintenance fees are usually involved. These are junk and go straight to the developers pocket. Third, developers tend to default a lot because timeshares are junky and people usually figure it out. Fourth, its hard to sell your units if you get tired of them. Don’t believe me, check ebay.
Best,
James
