Trading timeshares is a tricky game, but if you play your cards right you can actually make money from it. By making the correct trades you can actually profit on timeshare trades, but you need to know the tricks of the game. To earn money on timeshare trades, pay attention to the following:
Most importantly you will need to trade up from your timeshare. The reason for this is that you need to cover your maintenance fees and still have room for profit. The higher up your trade from what you own the larger the profit margin between your rental price and your maintenance fees. For example, if you trade your timeshare in 'bums-ville-nowhere' for the Marriot in St. Thomas, you will more than likely have more than $1,000 gap between the rental value and your maintenance fees. The key to doing this is to book far in advance and check what is available regularly. Often people cancel their reservations and if you check daily for what is available you can often scoop up a fantastic property. Once you have traded up for a reservation you just need to market that week correctly and then you will turn a significant profit. Marketing weeks can be tough, and you will make the most money by targeting an audience (people who are likely to use the resort, ex. post ads at golf clubs for a golf resort in Cancun), or by having a timeshare rental professional do the job for you. If you employ a timeshare rental professional who takes a portion of the rental, you may still be better off as they usually market the rental for more than you can. The only important key of course is to ensure that when exchanging timeshares you trade up in order to cover your maintenance fee.
Look For More Weeks Often
Owning one week can give you the use of additional weeks at a significant discount. Most home resorts have a last minute (90 days or less) booking option that will offer you additional weeks for a small sum. You can market these weeks for usually at least twice what you paid. In addition most timeshare exchange companies such as Resorts Condominium International (RCI) and Interval International also have bonus week programs. These are generally labeled "hot deals" or "last minute deals" and offer you extra weeks for as low as $199. These weeks for $200 and under can generally be marketed for up to $1,000, so they offer fantastic profit margins. The great part of marketing and renting extra bonus weeks is that they do not even count against your week. Consider marketing the great timeshare deals that they get as well. One way to market these weeks is to post ads on community boards or your workplace If all goes well with your trading up, exchanging and renting, consider purchasing additional timeshare weeks in order to rent more weeks annually and make more money.