We invested with FRPL finance. The organization went into CCAA and they reorganized as Northwynd. Now they are offering timeshares in their Hawaii property (at a discount) to help finance. Are there other investers in this that can give some advice - or anyone else that can offer advice.
Northwynd - formerly FRPL
- Thread starter jeans
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My thoughts are that if they couldn`t manage their first business properly you should stay as far away as possible.
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QUOTE (jeans @ Oct 18 2010, 03:13 PM) We invested with FRPL finance. The organization went into CCAA and they reorganized as Northwynd. Now they are offering timeshares in their Hawaii property (at a discount) to help finance. Are there other investers in this that can give some advice - or anyone else that can offer advice.
I would recommend never giving them another dollar for any reason. I truly believe their business plan is fundamentally unsustainable due to both the seasonality of their product and huge discount for buying "used" where you receive exactly the same product as those customers buying new.
You may or may not get your existing $ back, but don`t throw good money after bad.
My opinion only,
Michael
I would recommend never giving them another dollar for any reason. I truly believe their business plan is fundamentally unsustainable due to both the seasonality of their product and huge discount for buying "used" where you receive exactly the same product as those customers buying new.
You may or may not get your existing $ back, but don`t throw good money after bad.
My opinion only,
Michael
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- 13,879
Timeshares come with hefty annual maintenance fees of up to $1000/week. Most time shares - even some even at $1 purchase price - are overpriced.
Timeshares make sense only in the after market / heavily discounted market for folks that like to stay at the same place year after year and/or travel a lot and thus, like to trade.
For anything else God invested money as it can be used to trade !
Timeshares make money for the developer and the sales channel .. rarely for the "investor". But hey, 2 out of 3 parties happy ain`t too bad !!
Timeshares make sense only in the after market / heavily discounted market for folks that like to stay at the same place year after year and/or travel a lot and thus, like to trade.
For anything else God invested money as it can be used to trade !
Timeshares make money for the developer and the sales channel .. rarely for the "investor". But hey, 2 out of 3 parties happy ain`t too bad !!
- Joined
- Jan 29, 2008
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- 1,025
QUOTE (ThomasBeyer @ Oct 20 2010, 10:05 AM) Timeshares come with hefty annual maintenance fees of up to $1000/week.
Or much, much more. Some timeshares have fees of over 3000 per week, especially in island economies (like Hawaii) where everything is more expensive. I wouldn`t invest money with them to let them sell timeshares to others, I certainly wouldn`t buy a timeshare from them myself.
If you`re actually interested in purchasing a timeshare, you should buy it on the used market, and get the same thing for 90% less. Actually, you can probably get a better resort with stable management for 90% less.
Best resource on the web for those interested in timeshares is found at www.tugbbs.com
Michael
Or much, much more. Some timeshares have fees of over 3000 per week, especially in island economies (like Hawaii) where everything is more expensive. I wouldn`t invest money with them to let them sell timeshares to others, I certainly wouldn`t buy a timeshare from them myself.
If you`re actually interested in purchasing a timeshare, you should buy it on the used market, and get the same thing for 90% less. Actually, you can probably get a better resort with stable management for 90% less.
Best resource on the web for those interested in timeshares is found at www.tugbbs.com
Michael
QUOTE (jeans @ Oct 18 2010, 03:13 PM) We invested with FRPL finance. The organization went into CCAA and they reorganized as Northwynd. Now they are offering timeshares in their Hawaii property (at a discount) to help finance. Are there other investers in this that can give some advice - or anyone else that can offer advice.
Thanks everyone!
Thanks everyone!