Timeshares: the good, the bad, and the ugly - Robert Kiyosaki, Kim Kiyosaki, and Tom Wheelwright
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- Опубликовано: 6 окт 2024
- A timeshare, often known as vacation ownership, is a commitment to pay for annual trips to the same resort or family of resorts for the rest of one's life. Today’s guests discuss the key factors to a positive timeshare experience.
Henri Moreau, Founder of Timeshare Properties Inc., says, “Timeshares are a lot like marriage, when you’re in a good marriage you’re close to heaven, when you’re in a bad marriage you’re close to hell.” He goes on to give expert tips on how to avoid timeshare hell, and how to find the right timeshare for your lifestyle.
Timeshares can also be set up in a business entity for maximum tax benefits. Tom Wheelwright, Rich Dad Advisor on taxes, says, “There are times you want to own it as a business, from a tax standpoint, if you are using it as a business it’s much easier to show business proof if it’s set up in a business name.”
Hosts Robert and Kim Kiyosaki are joined by guests Henri Moreau and Tom Wheelwright to discuss what a timeshare is, the pitfalls of timeshares, and the tax implications.
Questions for Henri Moreau? www.wmcredits.net
Tom Wheelwright: www.wealthability.com
www.richdad.com/
Facebook: @RobertKiyosaki
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Reading about people grabbing multi-figures monthly as income in investments even in this crazy days in the market,any pointers on how to make substantial progress in earnings?would be appreciated
You have to have an idea on what you wanna invest in carefully before going in
is really refreshing to see a comment about Christiana Robert I got a chance to benefit from her services a few months ago and it has been a very smooth experience
If only some people would be patient to understand that Bitcoin isn't going anywhere, instead it's taking over the globe, she good
If you ever need an experienced tradr that will show accurate TA then I will sugjest Christianarobert
Also, Marriot won a lawsuit against California for not allowing people to go to their timeshares during Covid. The state said they were hotels and Marriot argued that these were people’s vacation homes and they won.
The first book I've ever read in my life until finished is Second Chance by Robert Kiyosaki. It changes my whole life. I mean my opinion especially my mindset. I've never know if Robert Kiyokasi had a RUclips channel. If someone asks me about one of a million purposes in my life is "Talking with Robert". Even my English is not good at all. But I hope someday I can meet him personally and talking about everything.
Very informative and truthful....I just recently upgraded my TS and this show pretty much accurately addressed the most important things to consider and research. One of the key points about the resell option was that if you purchase a resell you typically will not have access or the ability to use your points to access other destinations and you can only use your home (resell) location. I have had my resort for over 20 yrs and the best advice I could give is that if you want that type of access....start out with the smallest timeshare you can afford without hurting your finances from the developer as they will give you the added points and such. I did that and upgraded over time (20 yrs) 3x. The developer gave me full equity value of what i paid towards the upgrade both times! I like having the ability to have many places to visit so that is why i did not purchase the resell. Lastly, I will state....DO YOUR HOMEWORK & DUE DILLIGENCE! Also, if you can, purchase DEEDED TIMESHARES not club points if you go with the developer. I absolutely love my TimeShare and my family and friends love and appreciate it too. It was a good purchase for me.....but I started small. I got that advice from a person who worked in the TIMESHARE business.....buy super small and (cheap) to get your foot in the door and use it. Also PLEASE REMEMBER TO PURCHASE FROM A REPUTABLE TIMESHARE RESELL OR NOT!! NOT ALL TIMESHARES ARE CREATED EQUAL!! IF YOU DON'T DO YOUR DUE DILLIGENCE....DON"T BE UPSET WITH A POOR OUTCOME!!
Me: * pauses the video to watch other videos explaining what a timeshare is * wastes minutes searching for it and goes back to this video *
Kim: "so please explain what a timeshare is for those who don't know it"
Ah. Thank you, Kim.
You must be as impatient and adhd as me 😆 I'm searching info on multiple levels only to find out the entirety was in one source
Robert Kiyosaki is like the Rich Dad to lot of us. Lot of us we didn't have a "good" dad, and learning from him is like him learning from his Rich Dad.
Very informative. I was gifted a timeshare and only pay maintenance fees that are less than $1000 a year, no monthly payments. I'm one of the happy ones, lol
That's amazing, I just bought a timeshare for 16k and after that is paid off I'll just have the maintenance fees.
As a trucker with no family this combines my work with my business because I can choose to live in my truck and then use all the benefits of the timeshare membership of discounted hotel stays and bonus time to go on vacation while I get paid to deliver loads to the resort destinations.
Timeshares really aren't a good fit for certain people and to other people it's a blessing. I hope I can maximize my benefits in this way and since I am an independent contractor I am not tied to a company dictating to me how much or how little I can work. I work until I have enough money to take a break and enjoy my life.
Happy until that goes to $3000 per year
@@Murphys_Law9 possibly but it has been sub $1000 for over 20 years. I suppose if it gets to that high I’d sell
@@gabrielrivera1915 You'll only be able to sell for 0.
I hate it when people trash timeshares. I had one for 7 years. It paid for itself. When I decided to sell it a year ago, I almost got what I bought it for. It sold within a week of listing with multiple buyers. The financial advice principles applied pre COVID don't apply anymore post COVID.
Yes, depends on price and if the location is desirable. The interest is tax deductible! At the right price, you could rent it out if needed…
Was it Hilton or Hyatt?
Straightforward conversation. I appreciate the information shared
Great discussion Robert! Always buy on the secondary market, NEVER from the developer. Timeshares that originally cost $30,000 can be purchased for $1,500. Just make sure there is good management and LOW maintenance fees. Timeshares are not real estate. There are some very sorry people out there.
Time shares used or new are a waste of money. Glad I watched this to confirm my beliefs.
They have real estate reits on the stock exchange.
They legally have to pay out the monthly rent to shareholders minus expenses.
You also get to enjoy the ups and downs of the real estate market with them.
No headaches with bad tenants.
No repairs
No depreciation.
And
Your shares can be bought and sold by a click of the button.
Not weeks or months.
Great Show 🙂 Guys i learned a lot
Awesome show. All true.
Financial education is pillar of elite people, middle class people need to learn from them to convert liability to assets for financial freedom !
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I've worked for a timeshare for quite some time, so there's a few things I can say about it ..the good, the bad and the ugly
Tell me more!
do tell...
A blessed day to you brothers and sisters. (We are all called to be family in Christ!🙂) Family, JESUS CHRIST THE LORD DIED FOR OUR SINS, HE WAS BURIED, AND HE ROSE AGAIN THE THIRD DAY!💯🔥🙂 Jesus (the SON OF GOD) LOVES US ALL!💯🙂 Peace and love to you all in the name of the Lord Jesus!🙂
the hell with that, i said no once when i was in las vegas, some sell man was trying to sell me a timeshare, kind of bullying people there i think the timeshare was diamond, but i dont regret it and i definely say no a hundred times, these is a scam scam scam!!!!
How are fees in perpetuity not "unconscionable" and thus a reason to get out of the contract?
Same way taxes arent unconscionable it's a cost related to holding an asset
Thanks Rich Dad Radio!
$200 per night (maintenance) doesn't include the cost of the actual timeshare. If you include that, you might be paying $1000 per night.
Depends on the price that you buy it at!
Thanks for the video and information on timeshare
If a timeshare is shared by 52 owners, the cost of a timeshare shouldn't be more than $3000.
Godbless
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This video was good but can you make a video to talk about the new Bitcoin futures etfs using fake sell orders to keep the price low its like they have been doing to precious metals for years.. starting to think you guys cant see it..
Timeshares straight up sound like a bad idea from anyone who has ever talked to me about it
As a timeshare owner (for over 20+ yrs) I can only respond that...1) I agree it isn't for everyone, 2) Educate yourself on the pros and cons for your situation 3) Not all timeshares are the same (Apples to apples and not Apples to oranges) meaning there are luxury timeshares compared to not luxury timeshares. A decent managed timeshare will typically be better than a hotel or unknown AIRBNB/RENTAL in my opinion.
Those steampunk glasses are awesome
For the first time I have heard timeshare, its time to google more!
I read someplace that some timeshares prohibit renting it out to someone else.
The legendary Robert
I HAVE BEEN MAKING LOSSES TRADING MYSELF... I THOUGHT TRADING ON DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET...CAN ANYONE HELP ME OUT OR AT LEAST ADVICE ME ON WHAT TO DO.
Lack of trading, discipline is the primary reason for trade losses, it is estimated that nearly 80-85% of intraday traders end up lossing money in the stock market experiencing loss is also part of the game but that doesn't mean you should blow your trading account.
I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs cathie wood.
Maintenance fees always go UP!
Cool glasses Robert!
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time shares have always been absolute garbage specially in these times with so many apps and websites out there that you can rent places for a fraction of the price when you need it
Bitcoin is the feature investing in it now is the wesest thing to do now especially the current rise
Despite all the economic crisis this is the right time to start up an investment
Stock are good but crypto is more profitable
wanted to trade crypto but got confused by the fluctuations in price
That won't bother you if you trade with a professional like Mr Williams
Yeah
My first Investment with Mr Williams earned me profits of over $24,320 US dollars and ever since then he has Been delivering
The most expensive impulsive buy
Join the movement Wall Street Silver! We have over 160,000 members on reddit and cover the market!!!
Hi, can an already purchased timeshare with a deed be changed to a business? or is it stuck as my "personal asset" forever?
Can be done!
They have these all over Orlando
Built on swampland ...
What time is the crash?
Hi guys, have you seen that in the UK you are no longer permitted to offset mortgage payments as expenses as part of a real estate investment company! Thoughts?
Tom it was a bliss for me too. mine is in Waikiki beach.
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Love your glasses. What are they?
I have 2 wks a yr too.
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Congratulation to you Robert for holding BTC. Today is a great day!
Hilton has a hotel/condo's in Batumi, Georgia right next to the soccer stadium:)
Timeshares are a scam, always have been. Well within reason. You really have to know what you're doing, so you don't get screwed.
Always good informations! Thank you and your glasses are really cool!
I thought I was the only one who thinks Robert's glasses are cool. Lol
@@socialpublisher123 :-)Maybe the glasses are a note on invest :-)
ATH today. Yeah got 10 days left. Keep writing books and let the traders predict the market!
Yea when's this October market crash coming? I'm still waiting.
Where ypu going?
Timeshares are the biggest ripoff ever. If it weren't for absolute shark salespeople, no one would go for the horrible math/non-logic of paying someone multiple thousands 💰for the privilege of paying maintenance fees💵 to stay somewhere for a week or two 🤦♀️ Plus having to sit through those awful high-pressure update meetings every year and leaving your children unasked for debt.
They always use these feel good stories to get you thinking what a great thing it would be
awesome show
Thanks much. Great video.
I LOVE YOU SIR BUT WHY DO YOU PREACH OLD BITCOIN WHEN YOU COULD PREACH XRP, THE STANDARD?????!!??!!!
Today they pulled George gammon's "The Rebel Capitalist" channel. It's about to hit the fan, anytime now.
Timeshare salesman are not honest one guy on RUclips laughing at how tricked people and sold 40k .
Mr Kiyosaki, have you ever considered a Presidential run?
The lady who pays 3K a month should let it go into foreclosure. Do the math. 3K X 12 months is 36k a year X 7 years = $252,000 back in your pocket at the end of 7 years in exchange for a bad credit rating for 7 Hmm. Give me the money
im sorry but why does she get a bad credit rating
@@phuocnguyenlethanh2439 because Foreclosure affects your credit negatively.
There is no such a thing as a good time share. Worst product in the vacation industry. I would not even call it an asset or a liability. It's nothing, it's furgacy...fairy dust
Robert: what's 15 percent mean?
Kim: interest rate on their loan
Robert: 😲
😂😂😂❤
If you need the tax deduction, why does it matter?!?!
Oh, you do not understand
The price that you buy it at is most important
Usury laws - ha. There are credit cards out there charging like 49%.
NOTHING GOOD HERE, run away, This is the biggest scam you will experience, and is one SCAM that you could pass onto your children
All I got out of this is that time shares are garbage and Airbnb is better
Star atlas, the next axie infinity. Mini game out in dec, easily 20x moon
They lovvee fees.
Does Kiyosaki has any children
I see absolutely no benefit in a timeshare.
Timeshare sale your time vacation on there conditions and very expensive way forever. They do this legally so is hard for you to do anything. They are been Training to get you sing a contract using even your family. This I horrible 😤.
RIP OFF
Also why does this guys face look like a Minecraft character
Good day Rich Dad, please I want to know more about crypto trading and want to be mentored as well.Thank you
Bitcoin just broke ATH and you're putting out a body about timeshare? 😳