Scott
I inquired about converting a property I was going to buy of of eBay this week and I was told that new policy is you need to buy the same number of points from developer to transfer in a unit. In the past I paid much less then that to convert. They told me if my unit was worth 110,000 points I would need to pay 21,000 to convert. Have you heard that yet?
There have been discussions for a very long time about how to stop people from using resale units to get status in HICV. This appears to be their solution. I expect this policy to endure.
ReplyDeleteSo essentially points based units go up in value and fixed week units go down. I'd think this will generate a lot more ROFRs due to HICVs influx of fixed point units being sold for next to nothing. This is a great strategy for HICV to increase inventory at low cost.
ReplyDeleteMoney.
ReplyDeleteLike any business there will be good times and bad. Right now HIVC management perceive the market to be good and for this reason they have gone on a timeshare buying binge. This is great for their current base since we will have more available product to use.
For them it puts them in a high debt, tightening cash flow due to rehabbing expenses on these new properties and vulnerability to market slow down.
Yes we do not provide that much income to the company as far as sales but we pay maintenance fees and keep the cash flowing.
With out us cleaning up the over flow of customers who want out you will see a spike in maintenance fees not being paid which endangers fundamental financial stability of the organization.
When the economy grows soft and sales drop off the edge there will be opportunities and they will bend their new rules.
Just need to be patient and wait for the crushing debt to bring a little financial pain, i.e. common sense, to management.
Personally, I am in no hurry and look at this as a long term project.