I realize it's a long explanation, so I'm going to break down the numbers here. I paid $11,000 for the timeshare and paid it off right away, so I paid no interest. My maintenance fees are $237 per year. I get a week of accommodation every two years and a bonus week every year, so basically I can utilize the timeshare for 1.5 weeks per year. My apartment here in Kauai cost $537 for the week using the timeshare as an exchange. But if you were to book it online you would likely pay around $3,000 for a week. So I'm saving $2,500 right there in just one week. And this is my third time using it in 2 1/2 years. If you make sure to use it at places that are normally very expensive, then you can save a lot and get your $11,000 back within maybe five years or so. You then have the timeshare for life and can continue to get big discounts on nice places to stay. And even if I'm not traveling as much at some point in the future, if I just use it to go to Hawaii or somewhere else once a year it will come in handy. So if you use it properly you can end up saving thousands of dollars in the long run. But not all timeshares are the same, make sure to crunch the numbers and read the terms very carefully before purchasing one.
That is a good price & great you paid it all off so no interest. I use to work at RCI the exchange company that trades timeshare units. i=Its good for people that are flexible in their travel meaning will travel not at peak times all the time to high demand resorts. Usually you always get a kitchen that helps save money & units are usually studio or 1 bedroom. It can be a great option for you or you can stay at your home base without the extra RCI fee. Since you travel so much sounds like a good move.
I thought property timeshare was like buying a share of a property that you can only use for an allotted time, because property is shared, and other shareholders should be able to also use the property for an allotted time. However, in your case, it is not a specific property, but any accommodation provider that has a contract with the timeshare-selling company? In this case, you are not owner of a property, but only of an accommodation slot, which a better deal far a traveler. However, I do not understand why maintenance fee is required for the timeshare. Does the main amount of $11,000 you had paid not cover everything?
To equate your timeshare to buying a condo, $11K plus $237/yr (for 1.5 weeks) + $537/week would be similar to paying $381,000 for the room outright, plus $685/mo maint + $2310/mo for the trade up; or in condo terms... $381,000 up front plus $3000/mo in homeowners association fees. Only you can decide if that's a good deal for you. If you had bought a condo, you can swap weeks through a home exchange, but of course you have the flexibility of only paying a 1/35th (1.5weeks/year) portion with your timeshare. Just know that you are obligated for life and maintenance will likely increase. I stayed at that exact place a decade ago (through a hotel booking company). It's beautiful. Enjoy the time in paradise!
If people think they want to get in on something like this... my un-asked for advice :-) would be to buy a timeshare from someone else who can no longer afford the maintenance. You can often buy them resale for peanuts. Then you pick up the annual maintenance and fees on the contract.
I bought a DVC Beach Club timeshare contract in 2002 for $12000. I have stayed over 250 nights at Disney deluxe resorts since then. I have 17 years left on the contract. I can sell my contract today for $19,000. You could never make out like this if you purchased there now, but those of us that bought in the 90's and early 2000's did pretty well.
@@SunshineMichelle what is your yearly maintenance fee? Miami beach time share maintenance fee has gone up so much that it's more than a nearby hotel stay.
Or alternatively, put $11,000 in the SP500, then keep paying in $100 per month for 14 years, and you'll have $80,000. You can then draw out 4% per year so you'll have $3200 to spend on any hotels per year, and this money will never run out. You can also easily liquidate all of it for cash any time. Good luck selling your time share! Sorry to say but you're definitely not coming out ahead on this.
Someone I know works customer service for a timeshare company, and even she agrees it’s a scam. She always feels bad for the ppl trying to get out of their contract. She hates her job.
Research fees and costs and also research what is involved in selling it in the future. The reason you bought it at an abandoned discount is due to so many people unable to sell or get out of the timeshare. It works for you because of your flexibility with traveling but what happens when that changes and you decide to sell it.
No point selling it as resale values are not good if even possible. The breakeven from what he paid with the future discounts is a few years so best to just keep it for ever. A lot of these timeshares were of course hard sells to make it seem you part own a property when the reality is its a glorified discount club on resort rooms.
If you were to take that deed to your bank and try and borrow on the equity in your ownership of that property, they would flat out say "No thank you" - just part of the problem...
It sounds like this was a bad business decision, but legal, so in that sense I would not call it a scam. Good luck Gabriel, I think you are gonna regret this when you reflect back on it down the road.
AI has answered your question: "Las Vegas timeshare scams typically involve high-pressure sales tactics, misleading promises of easy reselling or "free" vacations, and hidden fees, all designed to push buyers into hasty decisions without fully understanding the long-term costs. These tactics prey on impulse, often leading to regret and financial burden, with many buyers struggling to resell or get out of their contracts, making timeshares a risky investment for most people."
Having booked two places in Lake Tahoe and this place in Hawaii over the past 2 1/2 years, definitely no regrets. They've all been top notch and a spectacular deal.
According to the American Resort Development Association (ARDA) and other consumer reports, almost all timeshares lose a significant portion of their value once purchased, with many timeshares reselling for less than 10% of the original purchase price. In fact, over 80% of timeshare owners struggle to sell or resell their units.
I'm not surprised. I doubt that I will try to sell it. If someone offered to buy it back right now for what I paid for it, I'd choose to keep it. When I can get a nice apartment in Hawaii at this price it's worth it.
I was interested in what you were saying about timeshares, Why would you give someone a load of cash and then pay to stay in various hotels and pay maintenance fees, What a waste.
Plus the fees go up and up and you can't stop it. Then you Can't get rid of it for less than another 5 to 7K. All for what did he say? 1 or 2 weeks per year in Vegas?? Wow
Sorry Gabe, even if they gave it to me for free, I dont want it. Only because of the maintenance fee + property tax, which are variables you have no control over. (In fact there are tons of timeshares that are selling for $1 on auction sites). Not sure if my math is right, but you pay $355 every 1.5 years for maintenance. And you just paid $537 for the week you are using. Assuming you had put the 11k in an ETF, your returns are probably $800 to $1200 a year. Lets assume $1k. That is $1892 for a single person for a week (Opportunity cost on ETF $1k + 355 + 537), which brings it to $270 a night. This may barely work out for places like Hawaii (or Bora Bora, Tahiti etc), but not rest of the world. You can slice it and dice it however you want, but these companies are basically selling you a studio or 1 bedroom property for $800k to $1m to 52 owners (based on 52 weeks) AND they are making you pay the maintenance + tax. Its the biggest scam there is.
Dont wanna be the partypooper but there is always some kind of scam with timesharing, amazes me people still fall for that especially you with all your experience. Hopefully I am wrong and you have got an amazing deal!
Everyone I've ever talked to has said to never put any money into a Timeshare anywhere. Why do you think they have companies now that all they do is attempt to try to get people out of their Timeshare? If it were such a great deal why do they offer freebies along with a super high pressure sales pitch in order to get people to purchase? You think the numbers make sense but just wait and see.
@@GabrielTravelerVideosIf you have found it to be working for you then that's great. If it were me and it worked for me, I wouldn't care what anyone else thought and ask for whether they think it's a scam or not.
I love the way you try to justify the scam , the numbers etc 😂😂😂 For a savy traveller, with kyak and airbnb you can find great deals with ahead planning!!!
You can still use all those other things such as the genius discount on booking.com, I have a Capital One Venture card that racks up points which I then use to pay for flights, etc. This is something that will result in a massive discount one or two weeks out of the year in expensive places. It's not a matter of justifying, if you do the math then after a few years you make your money back and then you can get sweet rooms in expensive places at a hugely discounted price. I'm paying $76 a night for a one bedroom apartment, which is less than a dorm bed on the island. They're $85 at the hostel in Kapaa.
Have you thought about buying a house on a Greek island, put it on Airbnb and use a property service company? You could promote it through your various channels.
I have just read a bunch of reviews of the company that's mentioned. Unfortunately they are very poor, lots of accusations of high pressure sales, being scammed, people out a lot of money and not able to get out etc etc! And they were all told a foreclosure had just become available! As long as Gabe realises the money is basically gone, he can afford the maintenance fee and he's happy with that then fair enough!
I'm sure lots of people get pressured into one and then don't really use it, try to sell it, find they can't get their money back and then are pissed off about it, understandably. But if you actually use it properly then it can work out in your favor and you can save thousands of dollars in the long run.
People that think by spending thousands of dollars are going to save money in the long run are hilarious. A Bonus Week? And they told him it was really worth $22,000 and "only" paid $11,000 😂😂😂
Oh dear... I would have enjoyed to watch a video with the title "I bought a ruin in Greece" so much more... The problem with timeshares is the annual fee, which will rise and you cannot control that rise. I hope your contract just runs for a few years and not a lifetime. Also you didn't count in that you could have invested the $11.000 and gotten some interest in return. So your saving is not that high. (Actually I don' t like the concept of the stock market but like the timeshare concept even less) It is not necessarily a scam but it is a bad deal in the long run. Edit: oh dear..you have it for life..
11,000 is fortunately not that much. It's a loss you can get over. I've lost more on a bad stock market investment, and there were no free nights accommodation.
@GabrielTravelerVideos Not hating bro. I'd love to see Hawaii one day but it wouldn't make any sense whatsoverer budget-wise. Recently seen a travel vlog from the Scottish youtuber Steve Marsh about the Azores. Seems a bit similar and a lot more affordable for Europeans.
@@GabrielTravelerVideos Been to Madeira. Did one of the many Levada hikes. You walk along the old irrigation channels, levadas, that run across the entire island. Really cool. And you really feel that remoteness you know... and Funchal, the capital, is a really charming town.
Well designed scam. Math May work out but see the terms- upfront cash payment, very high cost properties, property availability uncertainty, annual maintenance fees(which keeps on increasing?). This is not for everyone. May ok for a full time traveler like you.
Now redo the math by calculating the holidays you could have afforded if you had put the money in the stock market or even just in simple government bonds... So yes, it is 100% a scam. Not even considering the enormous difficulties you will face when, if not convenient anymore in the future, you will try to resell it.
I forgot to mention it, but they actually lowered it. Originally at the time of sale it was going to be around $800 a year. Then they offered to cut that in half, which was the deal that I accepted. But then my payment this year was only $237 for the year, so I'm actually not sure why it went down, but works for me. I'm sure it's possible it could go back up, but it would have to increase a lot to get in the way of the savings.
Those timeshare booths will tell you anything to get you to The Presentation. The salespeople are hard core because they have less than 1 hour to sell you. Timeshare companies allot 25% to marketing. Having said this we currently own 3 Point Type timeshares. We owned 2 additional Week Type which we recently sold. The points are more flexible bc you don't have to stay a week. You can stay just one day if you want and just use the number of points required for one day. It only works if you travel a lot and can plan ahead.
Room rate was based on timecshare, nxt time you try get a Hawaii room you'll find zero vacany. Traded 3 weeks of your Vegas place for your one week In Hawaii.
Ain’t no way this isn’t a scam Gabe. Sorry Like let’s say you stay in Europe or Asia for 6 months and the rooms are like 40-80 per night, how does this work out then? It’s literally just like they got more expensive now
Not quite sure what you mean, but that sounds like apples and oranges. I can still go to India or Thailand or eastern Europe and get cheap accommodation when I'm traveling there. But if I want to go to Hawaii or somewhere else that's super expensive, which I like to do sometimes, then this way I can get a huge discount. Cheers. 🍺
I dunno, that just feels like trying to justify it to me, like you feel forced to do these “deals” but it’s really just sunken cost fallacy in the end. But you do you. I hope it works out in the end
Forced to do these deals? Again not sure what you mean, if you're referring to the timeshare, the video or something else. Nothing was forced, I bought the timeshare because it seemed like it would work out to my advantage in the long run. And I made a video about it to explain to my viewers why I was paying only $76 a night for a nice apartment in Hawaii, when you can't find a room for less than $300 if you look online.
@@GabrielTravelerVideos that was just figure of speech, ie you’re more likely to go for these expansive places now to justify that investment. The whole thing just screams sunken cost fallacy to me
As I mentioned in the video, one of the reasons I went for it was because of the possibility of apartments in Hawaii for $300 a week. I've been traveling to Hawaii for thirty-five years and love to come back, but it's way too expensive. I can't afford to spend $3,000 a week for accommodation. But this makes it much more doable. We'll see how it works out long term but so far it's looking like it's going to pay off.
Well in your future videos you can tell us your strategy for getting out of your timeshare when you see how annul fees increase each year. I think most timeshares are bad schemes with high pressure sales tactics, with booking problems for desirable locations and times or you are stuck with the same location. Sometimes it is better to buy a timeshare from an individual that want to get out of their timeshare instead of the principal business. I have to admit that resort looked pretty nice though.
Gabriel hate to say this but, you’ve been bamboozled 😢Dude! There are so many negative reviews about timeshare, particularly this company 😢 So you had a little nest egg, pocket itchy and decided to throw it up in the air hoping that it would turn into crystal clear diamonds 💎 Wow! I am shocked that you fell for it. A lot of people complain about the restrictions they don’t tell you about. And trying to sell it is a b…. h! 😢I am surprised your friend didn’t talk you out of it! 😮 Something must have clouded your brain in Vegas to make you believe that story and made you make an impulsive buy. 😢Lastly, you didn’t get a deal, you overpaid! Better off buying an RV or a small plot of land in the desert.
I've been using it for 2 1/2 years now and have stayed at three different places, all of which were extremely nice and for super low prices. I had a two-bedroom condo on Lake Tahoe for a week for $330 total. Those condos cost more than that per night. The math works out, within a few years you can make your money back and then continue to get discounted rates on accommodation for the rest of your life.
It is sad that so few people actually listened carefully to the video and did the math. I watched carefully and did the math and thought for Gabriel Traveler it was a good deal because he has such a low maintenance fee. The average annual maintenance fee for timeshares is about $1200 a year. I like that Gaberial can stay at an apartment type unit a few times a year instead of a small 150 square foot budget motel room. There is a real risk that they could significantly raise the maintenance fees in the future and limit availability and raise the cost of staying at the timeshare. Then the problems start because you legally have to pay the maintenance fees every year and if you don't, they will sue you.
Yes! That is the weak spot, the maintenance could soar and you have to find that money without knowing how much it could be in say 5 years! But if Gabe is happy with the deal and it appears he is and it's his money then so what? Let him do it!
Gabriel, what makes you think you can sell your time share in 5-years, or whenever? You have bought into a roach motel: very easy to get into, but virtually impossible to get out of, unless you are prepared to sell it for cents on the dollar. Also, you have no control over the annual maintenance, which is always going to increase.
I doubt I will sell it. Even if I just go to Hawaii once every year or two, which I like to do, then it will be very useful. If you check the prices of rooms online then you realize spending $500 for a week in a nice apartment is an epic deal.
@@GabrielTravelerVideos My guess is that the time share will work for you as you are always traveling. All time share units are graded for purposes of exchanging rentals at other like properties. Five-star rated time share properties have the greatest rental opportunities, whereas lower rated properties have lesser rental opportunities. What star rating does your time share property enjoy?
People have been known to buy "resale" timeshares for $0 or even get paid to take them. They are forever obligations but I've met people that love their timeshares.
If someone offered me the $11,000 that I paid for it, I don't think I would sell it. I just saved $2,500 on this week in Hawaii. So if you do that 4-5 times then it covers the cost and then you're continuing to get discounts after that. So the math in this case can actually work out to your advantage. But I think it depends a lot on the timeshare, and whether you make full use of it.
@GabrielTravelerVideos I just visited Kauai, got a half-price deal on the room to sit through the timeshare presentation. Maintenance yearly was thousands not hundreds. If your maintenance fee stays low you have a sweet deal after 5 stays.
Rule #1 - NEVER follow street touts, no matter what they're promising. This is like the only way to make a country like Japan dangerous, and especially wouldn't follow one in Vegas. Rule #2 - if something is free, then YOU are the product. Rule #3 - if you dont have the title to the property, then you dont really own anything. Keep an eye on those annual fees, and unfortunately, if you ever hope to get out of this agreement, its going to be incredibly difficult. You might be getting the savings in Kauai, but that 11k is essentially a sunk cost, and you have to think about other opportunities that you could have put the 11k toward - like someone else mentioned just buying a bunch of $VOO and let the dividends reinvest. What exactly do you own now, or did you pay 11k to enter a discount club?
I see in the video that you have a "deed", but it's not clear what that deed goes to in the physical world, so what is someone purchasing if you sell it to them? Sorry to come off harsh, maybe you're calculations are correct, but I'm extremely skeptical based on the story. I've learned so much about travel and get a lot of my travel philosophy from you, so I hope I'm wrong and it works out for you, but I'd have sprinted away from that Vegas tout.
Bingo, opportunity cost is one thing I see so many not recognizing. Every time you part with a chunk of money you've given up the opportunity for that money to make more money.
Funny, I only watched it because I didn't see you as being someone who would want a timeshare in Vegas. Having lots of choices around the world certainly makes it sound appealing, especially if you travel a lot.
Timeshares are never a good financial decision, and that is by design, it's very profitable for those who sell it. I easily found an oceanfront condo in Kauai for this May for under $200/day. so, you're not saving thousands. On the other hand you put down $11k which you could've invested at 10% in the markets so you're not accounting for opportunity costs for your money, plus your out of pocket and maintenance fees. And the biggest problem is that you already committed your money and who knows if you're going to Kauai every year? And who knows if that property will be available when you want to go? And who knows if there will be better deals going on elsewhere? And who knows if you will want to stay in that exact area in Kauai or Vegas of wherever they are located? You get my gist... it's not a good idea to be locked into a situation with your money, and much better to be flexible. Hope i'm making a point 😁 But i'm glad at least you're happy with your purchase.
I didn't buy a timeshare at this property in Kauai. I bought a timeshare at the Grandview in Las Vegas, and that can then be exchanged and used for any available property on their website, which covers dozens of countries around the world. That's why I bought it, because it can be used worldwide. So there's complete flexibility with the time and with the location. You get points which are valid for a few years. So for this timeshare week in 2025 I had twenty points, but this apartment in Kauai only cost thirteen points. So I have seven points left over even after getting this great deal, and I also have two previous weeks leftover at the moment, and you can combine points. It's complicated and I didn't explain everything in full. But if you actually make use of it and don't let your points expire without using them, then it can work out to your advantage.
Timeshares make the most sense when utilized in places like Hawaii. I just closed on Club Wyndham Bali Hai there in Kauai, after buying contracts in Kona and Sedona.
Almost everywhere I travel they try to give me free or discounted tours for time share presentations. I attended once in Las Vegas as well and got free show tickets, never again. A complete waste of time and high pressure salesmen who lock in you in a room. I did attend a tour presentation in Oahu and received a free luau, which was worth it.
Can you tell me your experience? I booked one for LV for Hilton because of a Black Friday deal?? I know I’m not going to buy but curious about your experience
I like the Outrigger resorts - stayed in one on Waikiki for work. Restaurants on premise had good food. We also stayed at Hawaiian Hilton & that was too big. In 1996 we stayed in a Condo in Kapa’a for $80/night & it had a small pool too. Comparably, to North Shore Oahu (off season - you’re in high season) $40/ night at Backpacker for a private room with shared living space.
I have a florida beach timeshare that I actually bought about 14 years ago at a foreclosure auction. Cost me around $300 at the time. I think it was a good value even though my maintenance fees are getting pretty high now ($1000 per year). I still think that it is a good deal as places at the beach are $250 a night or more. I have used some nice bonus weeks and done some good exchanges in the past, but the last 3 years I have just enjoyed an annual trek to the beach. Well except we had to evacuate this year in the middle of the week for a hurricane - ugh. Anyway, I don't mind owning a week as it has been useful for me. Exchanges work if you are pretty flexible with dates. I have found some good stuff including in Kona Hawaii and 3 trips to Lake Tahoe. Only worth while if you actually use the time though. I talked to someone paying for one and he did not use it every year, so for him a total waste..... For those trying to get rid of one, you can usually always give it back to the resort though you will probably lose money doing that.
I commend you Gabriel on writing/shooting this vid. Personally i would comment/reply to everyone on this thread to upscale the algorithm & make it go viral. Then I would do a' Why Not To' vid on same subject..ultimately helping others & paying for this "Timeshare" Option 2) Just rename your title "How I was scammed"................... (if ya haven't been, you've never Actually travelled lol) Cheers
You spent money to be able to spend money. I would probably really get down to hardcore math with all the options before subscribing to something like that.
Life is one big lesson. We all don't need to live it from each other's experiences. We should have the ability to experience it ourselves through our own decisions. He's a smart guy and he feels this is for him so be it. What you experienced or what you've read or heard may not apply to him. I would just like to know the detailed get OUT clause. In case you want to get rid of it. You should look into buying a fixer upper Greek home. I read there are places in Greece like in Italy and other places in Europe with a declining population that are trying to attract people and hence selling cheap fixer upper homes. Catch is you would have to renovate the place but hey it would eventually be your home. Plus the bonus of getting European residency. Allowing you access to Greek Islands all you want.
I stayed in a 2 bedroom airbnb I stay in Las Vegas that cost $90 a night. It has 2 pools and you can walk to the strip in 30 minutes. Near the Rio Casino
this is exactly it, suddenly deals come up that may be much better in terms of price and location and now you're stuck with the stuff you bought, this is the story of all timeshare owners I have talked to.
If anyone can work the timeshare game, it's you since u travel all the time. The only downside I see is that they can call for a special assessment that's beyond your regular maintenance fee, and you'd have to pony up the cash or you'll end up having to walk away from it like many people end up doing. Good luck with it!
I feel like you got a great deal that most people wouldn't get. You just happen to be in the right place at the right time. If you paid the going rate, 22,000 would it be worth it!
$14000 up front, $240//yr... the interest that you could have earned on the $14k...hmmmm... in 15 years you will be even! My cousin bought a camping timeshare... he could never get a site, but as a cash customer, i had no problem on the same weekend.
I paid $11,000, not $14k, that was the initial offer. Pretty sure the numbers on this work out a lot better than interest, as long as I actually make use of it on a regular basis.
@GabrielTravelerVideos I wish you good luck. My wife's family had timeshare on Cape Cod and PV, Mexico. It all seemed pretty shady to me. Two tricks they use, increasing "maintenence fees" and increasing limits on use. I am subscribed to your channel.
Problem is not buying one. Problem is trying to use it and selling it. Impossible to get rid of it and using it to its worth. 😩😂 you are just tied to coming back to Hawaii to make it worth your purchase 🤡 even former timeshares sellers have said that it’s a scam. 🤡
Very nice!!!....enjoy your Hawaiian vacation Gabriel.....I watch almost all of your videos .....and I want to thank you for sharing .....and get ready for Tasmania or New Zealand !!......
Think of it this way. If someone says, I got half off for a week at XZY resort, you know they got a good deal. If, on the other hand, it take a convoluted paragraph to explain why something is a good deal, it probably isn't.
I live at your favourite island in Thailand on Koh Phayam and paying 115$ a month for a single small room with a small fridge at a hostel here on the island. That’s 1400$ a year😅 we have kitchen in the clubhouse and shared toilets and showers but that’s okay for the price. Too be honest I’ll think it’s similar in standard that you had here last time. Just paid 700$ cash for rent until July 1. 1400$ a year is half of what you pay for yearly maintenance so am not sure if you did a good deal? Am normally a couple of months in Norway but mostly here on KP and use my thiny room as a base for travel around in Asia! I can get you the same deal as I live here I know the right people to know😉 Edit Forgot to mention I have front/sea view from my hammock a step from my room 😎
Sweet. Yes, there are always cheaper options. That's why I go back and forth from more expensive countries to cheaper ones, to balance things out. I'm not ready to live on a Thai island but it's good to know that it's an option, or Greece or Mexico, etc.
This guy is swimming in so much TH-cam money that he has lost all sense of care and reality that us common, hard-working folk need to have to make ends meet - so he goes and throws his spare change at something like a timeshare. Goes to show how the rich people live!
I have to pay for hotel rooms to be able to travel and make these videos. This was basically just an advance payment on future accommodation, which can save money in the long run. $11,000 sounds like a lot, but I spend anywhere from $1,500-$2,500 on accommodation every month, depending on which country I'm in. ✌️
A lot of negativity in the comments. Not everything is a scam. Sounds like it’s working out well for you. Not sure why so many don’t understand that a mix of travel experiences is sometimes needed. Sure, India, etc is exciting but sometimes it’s nice to have some down time in a “manicured” resort area.
Get a players card for MGM, go gamble a little bit once in a while, doesnt have to be much, and they will send you comped rooms like crazy. But each to their own.
Hmm, I am sorry Gabriel, but I am unconviced. What if they increase the maintenance fee drastically? My elderly parents bought a timeshare in their 50s on the island of Arran in Scotland. They were allowed to swap weeks for elsewhere too. By the time they hit their 70s the maintenance fee was astronomical, they werent well enough to travel there and it was almost impossible to sell. Even in the years they used it, after the first few years the maintenance fee could easily have been used to fund a nice week away sonewhere eise. It would have been better to invest the money, let it grow and then take 4 percent a year from it . I would always take independent financial advice before going into this sort of arrangement. Sorry to be a party pooper, , and I hope you do enjoy your luxury stays - you deserve a break from budget accommodation every now and again. 😊
@GabrielTravelerVideos I hadn't watched all the video when I said that, the fact you can choose from many locations does mean it appears to be a reasonable option. Also you got it cheaper.
I realize it's a long explanation, so I'm going to break down the numbers here. I paid $11,000 for the timeshare and paid it off right away, so I paid no interest. My maintenance fees are $237 per year. I get a week of accommodation every two years and a bonus week every year, so basically I can utilize the timeshare for 1.5 weeks per year. My apartment here in Kauai cost $537 for the week using the timeshare as an exchange. But if you were to book it online you would likely pay around $3,000 for a week. So I'm saving $2,500 right there in just one week. And this is my third time using it in 2 1/2 years. If you make sure to use it at places that are normally very expensive, then you can save a lot and get your $11,000 back within maybe five years or so. You then have the timeshare for life and can continue to get big discounts on nice places to stay. And even if I'm not traveling as much at some point in the future, if I just use it to go to Hawaii or somewhere else once a year it will come in handy. So if you use it properly you can end up saving thousands of dollars in the long run. But not all timeshares are the same, make sure to crunch the numbers and read the terms very carefully before purchasing one.
That is a good price & great you paid it all off so no interest. I use to work at RCI the exchange company that trades timeshare units. i=Its good for people that are flexible in their travel meaning will travel not at peak times all the time to high demand resorts. Usually you always get a kitchen that helps save money & units are usually studio or 1 bedroom. It can be a great option for you or you can stay at your home base without the extra RCI fee. Since you travel so much sounds like a good move.
Seems like in your case not wanting to travel at peak times you can save some good cash.
I thought property timeshare was like buying a share of a property that you can only use for an allotted time, because property is shared, and other shareholders should be able to also use the property for an allotted time.
However, in your case, it is not a specific property, but any accommodation provider that has a contract with the timeshare-selling company?
In this case, you are not owner of a property, but only of an accommodation slot, which a better deal far a traveler.
However, I do not understand why maintenance fee is required for the timeshare. Does the main amount of $11,000 you had paid not cover everything?
To equate your timeshare to buying a condo, $11K plus $237/yr (for 1.5 weeks) + $537/week would be similar to paying $381,000 for the room outright, plus $685/mo maint + $2310/mo for the trade up; or in condo terms... $381,000 up front plus $3000/mo in homeowners association fees. Only you can decide if that's a good deal for you. If you had bought a condo, you can swap weeks through a home exchange, but of course you have the flexibility of only paying a 1/35th (1.5weeks/year) portion with your timeshare. Just know that you are obligated for life and maintenance will likely increase. I stayed at that exact place a decade ago (through a hotel booking company). It's beautiful. Enjoy the time in paradise!
If people think they want to get in on something like this... my un-asked for advice :-) would be to buy a timeshare from someone else who can no longer afford the maintenance. You can often buy them resale for peanuts. Then you pick up the annual maintenance and fees on the contract.
A good way to see if a timeshare is a scam is to ask, “is this a time share?” If the answer is yes, then it is a scam.
🤣🤣🤣
I bought a DVC Beach Club timeshare contract in 2002 for $12000. I have stayed over 250 nights at Disney deluxe resorts since then. I have 17 years left on the contract. I can sell my contract today for $19,000. You could never make out like this if you purchased there now, but those of us that bought in the 90's and early 2000's did pretty well.
@@SunshineMichelledon't be a sucker, lady.
@@SunshineMichelle what is your yearly maintenance fee? Miami beach time share maintenance fee has gone up so much that it's more than a nearby hotel stay.
Sadly, I feel this is true.
I can’t believe a smart guy like you fell for it.
This place is way too BIG ! ?
Is this real?...i cant believe this
Gabe - You are just about the last person I can imagine buying a time share!
Lol, I had to read the headline twice to make sure I wasn't seeing things.
Theres big news....then theres this bombshell...😮...what on earth has happend?...cant be real
The problem is the maintenance fee. They will soon raise it from $237 to $1000, so this is where the scam is.
He's the first person that says it's worked out for him. Fact they have to entice you to sell it. Tell me all I need to know.
You went to see David Copperfield and your money magically disappeared!
Haha. 😛🍺
hahahahahahahahahahaha
went to Vegas in 2008 and saw the same hotel tour at Grandview. we successfully escaped and got to see the Blue Man Group for free.
Just wait till you try and get out of it. That's when the real fun begins.
💯
Or his dues go from 237$ to 550$ then 800$ and he dropped 11,000$ already. Maybe it will work but I wouldn't touch it with a 20 foot pole
Marriage, Time Shares, WHEN ⁉ will MEN LEARN ⁉
If you put the $11,000 in the SP500, after 10 ten years with 10% yearly return you'd have $30,000.
Or alternatively, put $11,000 in the SP500, then keep paying in $100 per month for 14 years, and you'll have $80,000. You can then draw out 4% per year so you'll have $3200 to spend on any hotels per year, and this money will never run out. You can also easily liquidate all of it for cash any time. Good luck selling your time share! Sorry to say but you're definitely not coming out ahead on this.
That's how much his yearly fees will be by that time too
Someone I know works customer service for a timeshare company, and even she agrees it’s a scam. She always feels bad for the ppl trying to get out of their contract. She hates her job.
This feels a bit like a timeshare sales pitch. Just less aggressive than regular ones and we don’t get a free meal or massage.
Scamm and no way out cancel it ASAP.
Research fees and costs and also research what is involved in selling it in the future. The reason you bought it at an abandoned discount is due to so many people unable to sell or get out of the timeshare. It works for you because of your flexibility with traveling but what happens when that changes and you decide to sell it.
No point selling it as resale values are not good if even possible. The breakeven from what he paid with the future discounts is a few years so best to just keep it for ever. A lot of these timeshares were of course hard sells to make it seem you part own a property when the reality is its a glorified discount club on resort rooms.
If you were to take that deed to your bank and try and borrow on the equity in your ownership of that property, they would flat out say "No thank you" - just part of the problem...
There is no ownership on any kind.
Crazy part is that's 20% down on a house or condo. Which he could rent out and also get appreciation. Who knows either way. Hope he is happy
They're all set up like this paying for life no way out no matter how high fees get.
It sounds like this was a bad business decision, but legal, so in that sense I would not call it a scam. Good luck Gabriel, I think you are gonna regret this when you reflect back on it down the road.
AI has answered your question: "Las Vegas timeshare scams typically involve high-pressure sales tactics, misleading promises of easy reselling or "free" vacations, and hidden fees, all designed to push buyers into hasty decisions without fully understanding the long-term costs. These tactics prey on impulse, often leading to regret and financial burden, with many buyers struggling to resell or get out of their contracts, making timeshares a risky investment for most people."
Mark Twain once said, “It's easier to fool people than to convince them that they have been fooled”.
Having booked two places in Lake Tahoe and this place in Hawaii over the past 2 1/2 years, definitely no regrets. They've all been top notch and a spectacular deal.
For the love of all things holy...A time share?!?! Really? Man, I thought only senior citizens still fall for that scam, I guess not.
According to the American Resort Development Association (ARDA) and other consumer reports, almost all timeshares lose a significant portion of their value once purchased, with many timeshares reselling for less than 10% of the original purchase price. In fact, over 80% of timeshare owners struggle to sell or resell their units.
I'm not surprised. I doubt that I will try to sell it. If someone offered to buy it back right now for what I paid for it, I'd choose to keep it. When I can get a nice apartment in Hawaii at this price it's worth it.
@@GabrielTravelerVideosu need use a RCI u can swap you weekend . Plus on RCI t give a good price for travel .
I was interested in what you were saying about timeshares, Why would you give someone a load of cash and then pay to stay in various hotels and pay maintenance fees, What a waste.
Plus the fees go up and up and you can't stop it. Then you Can't get rid of it for less than another 5 to 7K. All for what did he say? 1 or 2 weeks per year in Vegas?? Wow
U can can rent , if a hotel or resort is good u can make a money too!
Sorry Gabe, even if they gave it to me for free, I dont want it. Only because of the maintenance fee + property tax, which are variables you have no control over. (In fact there are tons of timeshares that are selling for $1 on auction sites). Not sure if my math is right, but you pay $355 every 1.5 years for maintenance. And you just paid $537 for the week you are using. Assuming you had put the 11k in an ETF, your returns are probably $800 to $1200 a year. Lets assume $1k. That is $1892 for a single person for a week (Opportunity cost on ETF $1k + 355 + 537), which brings it to $270 a night. This may barely work out for places like Hawaii (or Bora Bora, Tahiti etc), but not rest of the world. You can slice it and dice it however you want, but these companies are basically selling you a studio or 1 bedroom property for $800k to $1m to 52 owners (based on 52 weeks) AND they are making you pay the maintenance + tax. Its the biggest scam there is.
Time Share - Hotel California - 🎵🎶you can check out any time you like but you can never leave🎵🎶🎵🎶
I believe Las Vegas flood control tunnels are much cheaper to live in than a time share.
I must say I`m a bit surprised about this timeshare stuff Gabe.
Dont wanna be the partypooper but there is always some kind of scam with timesharing, amazes me people still fall for that especially you with all your experience. Hopefully I am wrong and you have got an amazing deal!
He explained the deal
Everyone I've ever talked to has said to never put any money into a Timeshare anywhere. Why do you think they have companies now that all they do is attempt to try to get people out of their Timeshare? If it were such a great deal why do they offer freebies along with a super high pressure sales pitch in order to get people to purchase? You think the numbers make sense but just wait and see.
It's been 2 1/2 years and is working out pretty well. I think some timeshare offers aren't as good of a deal.
@@GabrielTravelerVideosIf you have found it to be working for you then that's great. If it were me and it worked for me, I wouldn't care what anyone else thought and ask for whether they think it's a scam or not.
When you want to sell it let me know. I’ll only make you pay me $5000 to take it.
I love the way you try to justify the scam , the numbers etc 😂😂😂
For a savy traveller, with kyak and airbnb you can find great deals with ahead planning!!!
don't listen to him Max! Cults get a bad rap!
You can still use all those other things such as the genius discount on booking.com, I have a Capital One Venture card that racks up points which I then use to pay for flights, etc. This is something that will result in a massive discount one or two weeks out of the year in expensive places. It's not a matter of justifying, if you do the math then after a few years you make your money back and then you can get sweet rooms in expensive places at a hugely discounted price. I'm paying $76 a night for a one bedroom apartment, which is less than a dorm bed on the island. They're $85 at the hostel in Kapaa.
99% of the time share are a big scam and never in favor of purchaser.😢
Charlie Sheen likes winners 🏆. If Gabe is of the 1% then he's a winner 👆
he got the 1 percent?
Interesting ! It’s the maintenance fees on my timeshare that have doubled !
Have you thought about buying a house on a Greek island, put it on Airbnb and use a property service company? You could promote it through your various channels.
I have just read a bunch of reviews of the company that's mentioned. Unfortunately they are very poor, lots of accusations of high pressure sales, being scammed, people out a lot of money and not able to get out etc etc! And they were all told a foreclosure had just become available! As long as Gabe realises the money is basically gone, he can afford the maintenance fee and he's happy with that then fair enough!
I'm sure lots of people get pressured into one and then don't really use it, try to sell it, find they can't get their money back and then are pissed off about it, understandably. But if you actually use it properly then it can work out in your favor and you can save thousands of dollars in the long run.
@@GabrielTravelerVideos it seems you are the last man standing ☺️
Plus the designer was trapped in the 80's😂😂😂
Only High Rollers can drop 11 thousand on the Whim!
People that think by spending thousands of dollars are going to save money in the long run are hilarious. A Bonus Week? And they told him it was really worth $22,000 and "only" paid $11,000 😂😂😂
The math is pretty simple. When you can save $2,500 on one week of accommodation, you can make back the $11,000 pretty quickly.
Oh dear... I would have enjoyed to watch a video with the title "I bought a ruin in Greece" so much more...
The problem with timeshares is the annual fee, which will rise and you cannot control that rise. I hope your contract just runs for a few years and not a lifetime. Also you didn't count in that you could have invested the $11.000 and gotten some interest in return. So your saving is not that high. (Actually I don' t like the concept of the stock market but like the timeshare concept even less)
It is not necessarily a scam but it is a bad deal in the long run.
Edit: oh dear..you have it for life..
I’d have preferred it if he had bought a house in a Greek village. 😅
11,000 is fortunately not that much. It's a loss you can get over. I've lost more on a bad stock market investment, and there were no free nights accommodation.
So in short: If you pay a ridiculous amount of money you can stay in ridiculously expensive places. Ok check!
Pretty much.
@GabrielTravelerVideos Not hating bro. I'd love to see Hawaii one day but it wouldn't make any sense whatsoverer budget-wise. Recently seen a travel vlog from the Scottish youtuber Steve Marsh about the Azores. Seems a bit similar and a lot more affordable for Europeans.
The Azores look amazing, I really want to go there, also Madeira.
@@GabrielTravelerVideos Been to Madeira. Did one of the many Levada hikes. You walk along the old irrigation channels, levadas, that run across the entire island. Really cool. And you really feel that remoteness you know... and Funchal, the capital, is a really charming town.
This guy claims to be a budget traveller 😂
I mentioned this before and got pulled to pieces people protecting
I hope you are kidding about buying a timeshare in Las Vegas.
Well designed scam. Math May work out but see the terms- upfront cash payment, very high cost properties, property availability uncertainty, annual maintenance fees(which keeps on increasing?). This is not for everyone. May ok for a full time traveler like you.
You could stay in a lot of hotel rooms for 11 grand for many years.
In India or Thailand or Turkey, yes. But if you like to go to Hawaii, it will run out pretty quick.
Honestly i cant believe you fell for this Nobody and I mean nobody should buy a time share never never
Now redo the math by calculating the holidays you could have afforded if you had put the money in the stock market or even just in simple government bonds... So yes, it is 100% a scam. Not even considering the enormous difficulties you will face when, if not convenient anymore in the future, you will try to resell it.
At least it’s only 11K. People are investing hundreds of thousands in disastrous deals.
That same $11k would have bought 0.5 Bitcoin at the time he purchased the timeshare that would now be worth $50k 😉
Hey Gabe, are there any constraints preventing them from jacking up the annual fees?
I forgot to mention it, but they actually lowered it. Originally at the time of sale it was going to be around $800 a year. Then they offered to cut that in half, which was the deal that I accepted. But then my payment this year was only $237 for the year, so I'm actually not sure why it went down, but works for me. I'm sure it's possible it could go back up, but it would have to increase a lot to get in the way of the savings.
Those timeshare booths will tell you anything to get you to The Presentation. The salespeople are hard core because they have less than 1 hour to sell you. Timeshare companies allot 25% to marketing. Having said this we currently own 3 Point Type timeshares. We owned 2 additional Week Type which we recently sold. The points are more flexible bc you don't have to stay a week. You can stay just one day if you want and just use the number of points required for one day. It only works if you travel a lot and can plan ahead.
Room rate was based on timecshare, nxt time you try get a Hawaii room you'll find zero vacany. Traded 3 weeks of your Vegas place for your one week In Hawaii.
Ain’t no way this isn’t a scam Gabe. Sorry
Like let’s say you stay in Europe or Asia for 6 months and the rooms are like 40-80 per night, how does this work out then? It’s literally just like they got more expensive now
Not quite sure what you mean, but that sounds like apples and oranges. I can still go to India or Thailand or eastern Europe and get cheap accommodation when I'm traveling there. But if I want to go to Hawaii or somewhere else that's super expensive, which I like to do sometimes, then this way I can get a huge discount. Cheers. 🍺
I dunno, that just feels like trying to justify it to me, like you feel forced to do these “deals” but it’s really just sunken cost fallacy in the end. But you do you. I hope it works out in the end
Forced to do these deals? Again not sure what you mean, if you're referring to the timeshare, the video or something else. Nothing was forced, I bought the timeshare because it seemed like it would work out to my advantage in the long run. And I made a video about it to explain to my viewers why I was paying only $76 a night for a nice apartment in Hawaii, when you can't find a room for less than $300 if you look online.
@@GabrielTravelerVideos that was just figure of speech, ie you’re more likely to go for these expansive places now to justify that investment. The whole thing just screams sunken cost fallacy to me
As I mentioned in the video, one of the reasons I went for it was because of the possibility of apartments in Hawaii for $300 a week. I've been traveling to Hawaii for thirty-five years and love to come back, but it's way too expensive. I can't afford to spend $3,000 a week for accommodation. But this makes it much more doable. We'll see how it works out long term but so far it's looking like it's going to pay off.
Well in your future videos you can tell us your strategy for getting out of your timeshare when you see how annul fees increase each year. I think most timeshares are bad schemes with high pressure sales tactics, with booking problems for desirable locations and times or you are stuck with the same location. Sometimes it is better to buy a timeshare from an individual that want to get out of their timeshare instead of the principal business. I have to admit that resort looked pretty nice though.
The resort looked 50 years old and uninspiring. It had a weird vibe
The fees tripled in many cases
@@horseplop9 yes I don't believe his annual fee is only $200, usually $1000
@@gmcenroeso basically you're calling Gabe Traveler a liar. He said his fees decreased from 400$ to 237$. Read his comment
@@BigBillyBowden Never called him a liar, he could be mistaken about the fees.
Gabriel hate to say this but, you’ve been bamboozled 😢Dude! There are so many negative reviews about timeshare, particularly this company 😢 So you had a little nest egg, pocket itchy and decided to throw it up in the air hoping that it would turn into crystal clear diamonds 💎 Wow! I am shocked that you fell for it. A lot of people complain about the restrictions they don’t tell you about. And trying to sell it is a b…. h! 😢I am surprised your friend didn’t talk you out of it! 😮 Something must have clouded your brain in Vegas to make you believe that story and made you make an impulsive buy. 😢Lastly, you didn’t get a deal, you overpaid! Better off buying an RV or a small plot of land in the desert.
I've been using it for 2 1/2 years now and have stayed at three different places, all of which were extremely nice and for super low prices. I had a two-bedroom condo on Lake Tahoe for a week for $330 total. Those condos cost more than that per night. The math works out, within a few years you can make your money back and then continue to get discounted rates on accommodation for the rest of your life.
It is sad that so few people actually listened carefully to the video and did the math. I watched carefully and did the math and thought for Gabriel Traveler it was a good deal because he has such a low maintenance fee. The average annual maintenance fee for timeshares is about $1200 a year.
I like that Gaberial can stay at an apartment type unit a few times a year instead of a small 150 square foot budget motel room.
There is a real risk that they could significantly raise the maintenance fees in the future and limit availability and raise the cost of staying at the timeshare. Then the problems start because you legally have to pay the maintenance fees every year and if you don't, they will sue you.
Yes! That is the weak spot, the maintenance could soar and you have to find that money without knowing how much it could be in say 5 years! But if Gabe is happy with the deal and it appears he is and it's his money then so what? Let him do it!
Gabriel, what makes you think you can sell your time share in 5-years, or whenever? You have bought into a roach motel: very easy to get into, but virtually impossible to get out of, unless you are prepared to sell it for cents on the dollar. Also, you have no control over the annual maintenance, which is always going to increase.
I doubt I will sell it. Even if I just go to Hawaii once every year or two, which I like to do, then it will be very useful. If you check the prices of rooms online then you realize spending $500 for a week in a nice apartment is an epic deal.
@@GabrielTravelerVideos My guess is that the time share will work for you as you are always traveling. All time share units are graded for purposes of exchanging rentals at other like properties. Five-star rated time share properties have the greatest rental opportunities, whereas lower rated properties have lesser rental opportunities. What star rating does your time share property enjoy?
@@GabrielTravelerVideos Can you bequeath it in a will?
@@EvaOwen Yes, you can. But whoever is bequeath the time share property will have to pay the annual maintenance fee.
Don't do it Ava, it's a never ending nightmare @@EvaOwen
People have been known to buy "resale" timeshares for $0 or even get paid to take them. They are forever obligations but I've met people that love their timeshares.
Get your self a good lawyer man and get out of it or maybe not but what if you don’t want it anymore can you just walk alway from it?
If someone offered me the $11,000 that I paid for it, I don't think I would sell it. I just saved $2,500 on this week in Hawaii. So if you do that 4-5 times then it covers the cost and then you're continuing to get discounts after that. So the math in this case can actually work out to your advantage. But I think it depends a lot on the timeshare, and whether you make full use of it.
@ hey if you enjoy the use of it I’m happy for ya Mahalo
@GabrielTravelerVideos I just visited Kauai, got a half-price deal on the room to sit through the timeshare presentation. Maintenance yearly was thousands not hundreds. If your maintenance fee stays low you have a sweet deal after 5 stays.
Rule #1 - NEVER follow street touts, no matter what they're promising. This is like the only way to make a country like Japan dangerous, and especially wouldn't follow one in Vegas.
Rule #2 - if something is free, then YOU are the product.
Rule #3 - if you dont have the title to the property, then you dont really own anything.
Keep an eye on those annual fees, and unfortunately, if you ever hope to get out of this agreement, its going to be incredibly difficult. You might be getting the savings in Kauai, but that 11k is essentially a sunk cost, and you have to think about other opportunities that you could have put the 11k toward - like someone else mentioned just buying a bunch of $VOO and let the dividends reinvest. What exactly do you own now, or did you pay 11k to enter a discount club?
I see in the video that you have a "deed", but it's not clear what that deed goes to in the physical world, so what is someone purchasing if you sell it to them?
Sorry to come off harsh, maybe you're calculations are correct, but I'm extremely skeptical based on the story. I've learned so much about travel and get a lot of my travel philosophy from you, so I hope I'm wrong and it works out for you, but I'd have sprinted away from that Vegas tout.
Bingo, opportunity cost is one thing I see so many not recognizing. Every time you part with a chunk of money you've given up the opportunity for that money to make more money.
@@sbkpilot1So, using your logic people should not travel. Instead they should invest that money and sit happily ever after in their basements.
Do you need any serfs to work the land, Mr Baron?
Funny, I only watched it because I didn't see you as being someone who would want a timeshare in Vegas. Having lots of choices around the world certainly makes it sound appealing, especially if you travel a lot.
Timeshares are never a good financial decision, and that is by design, it's very profitable for those who sell it. I easily found an oceanfront condo in Kauai for this May for under $200/day. so, you're not saving thousands. On the other hand you put down $11k which you could've invested at 10% in the markets so you're not accounting for opportunity costs for your money, plus your out of pocket and maintenance fees. And the biggest problem is that you already committed your money and who knows if you're going to Kauai every year? And who knows if that property will be available when you want to go? And who knows if there will be better deals going on elsewhere? And who knows if you will want to stay in that exact area in Kauai or Vegas of wherever they are located? You get my gist... it's not a good idea to be locked into a situation with your money, and much better to be flexible. Hope i'm making a point 😁 But i'm glad at least you're happy with your purchase.
I didn't buy a timeshare at this property in Kauai. I bought a timeshare at the Grandview in Las Vegas, and that can then be exchanged and used for any available property on their website, which covers dozens of countries around the world. That's why I bought it, because it can be used worldwide. So there's complete flexibility with the time and with the location. You get points which are valid for a few years. So for this timeshare week in 2025 I had twenty points, but this apartment in Kauai only cost thirteen points. So I have seven points left over even after getting this great deal, and I also have two previous weeks leftover at the moment, and you can combine points. It's complicated and I didn't explain everything in full. But if you actually make use of it and don't let your points expire without using them, then it can work out to your advantage.
Not my cup of tea timesharing.
Timeshares make the most sense when utilized in places like Hawaii. I just closed on Club Wyndham Bali Hai there in Kauai, after buying contracts in Kona and Sedona.
Almost everywhere I travel they try to give me free or discounted tours for time share presentations. I attended once in Las Vegas as well and got free show tickets, never again. A complete waste of time and high pressure salesmen who lock in you in a room. I did attend a tour presentation in Oahu and received a free luau, which was worth it.
Can you tell me your experience? I booked one for LV for Hilton because of a Black Friday deal?? I know I’m not going to buy but curious about your experience
Fuzzy math.
Timeshares can be a great deal if you know what you're doing. Gabe Traveler knows what he's doing.
I like the Outrigger resorts - stayed in one on Waikiki for work. Restaurants on premise had good food. We also stayed at Hawaiian Hilton & that was too big. In 1996 we stayed in a Condo in Kapa’a for $80/night & it had a small pool too. Comparably, to North Shore Oahu (off season - you’re in high season) $40/ night at Backpacker for a private room with shared living space.
You are living the (american) dream Gabe, at a ...discount!...
😟 I can't watch....
👺OH YE IF LITTLE FAITH! 🤯
yes they scam you saludos
I have a florida beach timeshare that I actually bought about 14 years ago at a foreclosure auction. Cost me around $300 at the time. I think it was a good value even though my maintenance fees are getting pretty high now ($1000 per year). I still think that it is a good deal as places at the beach are $250 a night or more. I have used some nice bonus weeks and done some good exchanges in the past, but the last 3 years I have just enjoyed an annual trek to the beach. Well except we had to evacuate this year in the middle of the week for a hurricane - ugh. Anyway, I don't mind owning a week as it has been useful for me. Exchanges work if you are pretty flexible with dates. I have found some good stuff including in Kona Hawaii and 3 trips to Lake Tahoe.
Only worth while if you actually use the time though. I talked to someone paying for one and he did not use it every year, so for him a total waste.....
For those trying to get rid of one, you can usually always give it back to the resort though you will probably lose money doing that.
Cup of tea and time too watch some Gabe ❤️
I commend you Gabriel on writing/shooting this vid. Personally i would comment/reply to everyone on this thread to upscale the algorithm & make it go viral. Then I would do a' Why Not To' vid on same subject..ultimately helping others & paying for this "Timeshare"
Option 2) Just rename your title "How I was scammed"................... (if ya haven't been, you've never Actually travelled lol) Cheers
You spent money to be able to spend money. I would probably really get down to hardcore math with all the options before subscribing to something like that.
Life is one big lesson. We all don't need to live it from each other's experiences. We should have the ability to experience it ourselves through our own decisions. He's a smart guy and he feels this is for him so be it. What you experienced or what you've read or heard may not apply to him. I would just like to know the detailed get OUT clause. In case you want to get rid of it.
You should look into buying a fixer upper Greek home. I read there are places in Greece like in Italy and other places in Europe with a declining population that are trying to attract people and hence selling cheap fixer upper homes. Catch is you would have to renovate the place but hey it would eventually be your home. Plus the bonus of getting European residency. Allowing you access to Greek Islands all you want.
Don't worry Gabe, call Wesley Financial Group to exit your time share! MOAR GREECE!😁
it's not a scam , but it's not value for the money. You could have invest your money and get a better return!
I stayed in a 2 bedroom airbnb I stay in Las Vegas that cost $90 a night. It has 2 pools and you can walk to the strip in 30 minutes. Near the Rio Casino
this is exactly it, suddenly deals come up that may be much better in terms of price and location and now you're stuck with the stuff you bought, this is the story of all timeshare owners I have talked to.
If anyone can work the timeshare game, it's you since u travel all the time. The only downside I see is that they can call for a special assessment that's beyond your regular maintenance fee, and you'd have to pony up the cash or you'll end up having to walk away from it like many people end up doing. Good luck with it!
Yea, Gabriel Traveler, go fer whatcha know, and thank for the info.. very nice views . I really like the seeing. Bravo brother man..
I feel like you got a great deal that most people wouldn't get. You just happen to be in the right place at the right time. If you paid the going rate, 22,000 would it be worth it!
$14000 up front, $240//yr... the interest that you could have earned on the $14k...hmmmm... in 15 years you will be even! My cousin bought a camping timeshare... he could never get a site, but as a cash customer, i had no problem on the same weekend.
I paid $11,000, not $14k, that was the initial offer. Pretty sure the numbers on this work out a lot better than interest, as long as I actually make use of it on a regular basis.
@GabrielTravelerVideos I wish you good luck. My wife's family had timeshare on Cape Cod and PV, Mexico. It all seemed pretty shady to me. Two tricks they use, increasing "maintenence fees" and increasing limits on use. I am subscribed to your channel.
Problem is not buying one. Problem is trying to use it and selling it. Impossible to get rid of it and using it to its worth. 😩😂 you are just tied to coming back to Hawaii to make it worth your purchase 🤡 even former timeshares sellers have said that it’s a scam. 🤡
Very nice!!!....enjoy your Hawaiian vacation Gabriel.....I watch almost all of your videos .....and I want to thank you for sharing .....and get ready for Tasmania or New Zealand !!......
Foreign viewers are probably baffled at the title
That timeshare reminds m3 of my home long tim4 back in Santa Clarita.
Such a lovely place.🎉
Think of it this way. If someone says, I got half off for a week at XZY resort, you know they got a good deal. If, on the other hand, it take a convoluted paragraph to explain why something is a good deal, it probably isn't.
I got a one bedroom apartment in Hawaii for 85% off. 😎🍺
23:33 do you know exactly what that area is meant for. And no it’s not for makeup. 😅
How much is the annual maintenance fees?
$237 USD.
@@GabrielTravelerVideos That's pretty good. Some of my friends are paying over $500/yr.
Will go up oiver time as that's their short term business model
I live at your favourite island in Thailand on Koh Phayam and paying 115$ a month for a single small room with a small fridge at a hostel here on the island.
That’s 1400$ a year😅 we have kitchen in the clubhouse and shared toilets and showers but that’s okay for the price. Too be honest I’ll think it’s similar in standard that you had here last time.
Just paid 700$ cash for rent until July 1.
1400$ a year is half of what you pay for yearly maintenance so am not sure if you did a good deal?
Am normally a couple of months in Norway but mostly here on KP and use my thiny room as a base for travel around in Asia!
I can get you the same deal as I live here I know the right people to know😉
Edit
Forgot to mention I have front/sea view from my hammock a step from my room 😎
Sweet. Yes, there are always cheaper options. That's why I go back and forth from more expensive countries to cheaper ones, to balance things out. I'm not ready to live on a Thai island but it's good to know that it's an option, or Greece or Mexico, etc.
This guy is swimming in so much TH-cam money that he has lost all sense of care and reality that us common, hard-working folk need to have to make ends meet - so he goes and throws his spare change at something like a timeshare. Goes to show how the rich people live!
Gabe works harder than me, you, and Patel combined! 😀
I have to pay for hotel rooms to be able to travel and make these videos. This was basically just an advance payment on future accommodation, which can save money in the long run. $11,000 sounds like a lot, but I spend anywhere from $1,500-$2,500 on accommodation every month, depending on which country I'm in. ✌️
Enjoy it and maybe share some time with the gardeners there.
Oh man.. this is crazy
A lot of negativity in the comments. Not everything is a scam. Sounds like it’s working out well for you. Not sure why so many don’t understand that a mix of travel experiences is sometimes needed. Sure, India, etc is exciting but sometimes it’s nice to have some down time in a “manicured” resort area.
Looking at the outdated 1970s dusty decor I would not even pay $76 a night for that. I am not looking for a crash pad when I travel.
I think it is a good deal how you bought it and how much you travel Hawaii looks like a great place to be in the winter lucky you
Get a players card for MGM, go gamble a little bit once in a while, doesnt have to be much, and they will send you comped rooms like crazy. But each to their own.
Oh dear.
Sweet Deal 😎
Hmm, I am sorry Gabriel, but I am unconviced. What if they increase the maintenance fee drastically? My elderly parents bought a timeshare in their 50s on the island of Arran in Scotland. They were allowed to swap weeks for elsewhere too. By the time they hit their 70s the maintenance fee was astronomical, they werent well enough to travel there and it was almost impossible to sell. Even in the years they used it, after the first few years the maintenance fee could easily have been used to fund a nice week away sonewhere eise. It would have been better to invest the money, let it grow and then take 4 percent a year from it . I would always take independent financial advice before going into this sort of arrangement. Sorry to be a party pooper, , and I hope you do enjoy your luxury stays - you deserve a break from budget accommodation every now and again. 😊
Timeshare? NNNOOOOO Gracias My Friend
Problem I see in the future is when the terms of the maintenance costs increase, or the deals on accommodation change & become less attractive.
I'm afraid that they saw you coming Mr Traveler ! From another country .... I hope I'm wrong .
I hear radio commercials all the time from a law company that gets people out of their timeshares, for a handsome fee I'm sure
But you also have to buy air fares every time, which adds to the cost.
I'm paying for airfare already to get to wherever I'm going. ✌️
@GabrielTravelerVideos I hadn't watched all the video when I said that, the fact you can choose from many locations does mean it appears to be a reasonable option. Also you got it cheaper.