Rebuilding Your Credit After A Timeshare Cancellation
Timeshare Impact on Credit Score, Timeshare Vacations
3 min read
Investing is something we all have a different idea about. Some of us love the idea of investing in the stock market because we naturally understand it and know how to research it and see positive results. Others like to invest in real estate, but they do not have hundreds of thousands to invest. That’s where the timeshare options come into play. You take a property that’s in a desirable travel destination like Las Vegas, Orlando, Key West, San Francisco or something like that. You grab as many weeks or weekends as you can, especially during prime tourist seasons and you rent out the property for as much as possible.
In many cases, investors see a solid profit, especially if they get the perfect times of the year to rent out the property and they would argue that timeshares are in fact a great investment. However, look at the situation they are in, they have a property that is available during the prime time of the year for tourists, meaning hotels are charging far more for a room and that gives these investors a real advantage. Your problem is that you are unable to get that type of a location at that particular time. Some areas may have a longer stretch where you can rent out the location, but peak seasons or especially times revolving around major events are still limited in availability for you to have a chance to capitalize and make money.
The issue isn’t that these timeshares are a bad investment, the problem is that you are not given reliable information on how to invest in them wisely. For example, you meet with a company offering times for Key West. They explain that you can get times down there for January, March, August and September. That seems ideal and you sign up, thinking you can easily rent out the unit and turn a major profit. The problem is that January isn’t peak season, your time in March is before spring break hits, August is slow where as the end of July is extremely popular and September is also slow where October and November are very popular. You were sold the wrong times and cannot get a return on your investment.
See the problem and how your fortune isn’t as lucky as someone else who is investing in these timeshare options? Yes, you can make money investing in these properties and many people do. However, the biggest mistake people make is that they sign up for times that are not desirable for tourists and then it’s nearly impossible to rent out the property, especially for something that could generate enough profit to make it worth your time and money.
How to choose the right company to get me out of my timeshare
We know how stressful timeshare contracts can be. What once sounded like a dream resort package turned into a nightmare. When you don't know where to turn, look to PMG to relieve you of your timeshare burden. We pride ourselves on open, honest, and frequent communication with our clients.
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The timeshare industry has spent a tremendous amount of time and money to delay, confuse and deter you from canceling your timeshare contract. Your team of timeshare elimination experts act as your consumer advocate and will work tirelessly to free you from your timeshare contract, mortgage, and maintenance fee bill.Give it a try