Thinking again about purchasing 1M points in fixed weeks and paying to convert and get elite status at an estimated cost of $10K ($8K to HICV and $2K for the units). Would anyone be interested in investing $1000 upfront + $500 each December per 100K annual points with elite benefits? (25% advanced booking savings before 8 months, unlimited upgrades, signature 9 months out, non-signature 12 months out, unit-specific reservations, free point shield)? We'll call it fractional elite ownership.
Assuming it takes a year to complete purchase, you'd pay $1000 now, $500 in December, and get 100K 2016 points in mid-2016. We'd put together some kind of contract - fractional owners would get no refunds for canceling but could drop out at any time and would have the ability to renew indefinitely. If I dissolved the program for any reason, then you'd get your $1000 back plus a refund on any unused points.
I'm on the fence with buying up a bunch of units and doing a conversion - having a few people to go in with me would make it a lot easier. I'd be looking to sell 500K-1000K annual points (if I sold the full 1000K, then I'd just rent additional points for myself at the same $500/100K).
-Scott
OK, I see now - so you owned 2 fixed units and bought 15K points from HICV in June 2014 then 3 more fixed units within 60 days to get Prestige status. The purchase was from corporate (was the sales person Danielle?) and I'm guessing it was a Lake Geneva unit.
ReplyDeleteThen in June of 2015 you traded in the 15K points from HICV for a 45K points Signature unit from HICV and purchased 3 additional points units from Ebay within 60 days to get Elite status - since these points units were purchased within 60 days, you would have gotten points and status even from fixed units. This purchase was from the Myrtle Beach sales department.
You are now bringing over 5 more units (are these fixed or points units?) within your 60 day window.
Can you send a copy of the document from closing authorizing you to bring over fixed units within 60 days? I'm curious what that looks like. The corporate sales person told me that you can only bring over 1 fixed unit at time of HICV direct purchase and 3 within 60 days. Sounds like you brought over 2+3 in 2014 and are attempting 0+8 in 2015? Be interesting to see if you get points for all 8 units.
Thanks for your help walking through this! I think the biggest challenge is that the smallest unit HICV sells now is 45K - a 15K would be ideal for me because even at a retail price of $300/1K points, the price is still reasonable.
-Scott
Did I read you correctly that you paid $17K for the 45K point Signature property (-$6K trade in for 15K property). That works out to $400/1K points for the 15K and $378/1K points for the 45K! I thought HICV retail was $300/1K points!
ReplyDeleteDo you have the name of the Myrtle Beach sales person? I've tried calling many of the resorts directly, and you can only talk to a scheduling person over the phone to schedule a meeting during your visit. The only property we regularly visit is Galveston, which doesn't have a sales office.
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