RIV for a former naysayer

[Sandisw]

I thought I’d update everyone on my plans to become a RIV owner as many of you have followed along as I considered it.

A month ago, said never, Would not even consider buying resale if it was cheap. Didn’t make sense.

Then I took my DD 23 to DVC meeting so she could get her free gift card, Soft sell since guide knew I was already DVC. Things came up that got me thinking and could it make sense. Came home, went over things, and realized that if I could sell one of my BWV, it could work out really well...kids all now owners with member perks, and a contract lasting 28 years longer for them

Today, my BWV 150 contract was sent to ROFR! After selling price and commission, I am making a profit of around $53/point over what I paid 6 years ago (Around $55/point)

Given that, the $500 incentive and an additional $750 we are getting for my DD CM discount, my net cost will be close to $120/pp for the new 130 points we will buy. We decided to reduce the 20 because I am getting 2019 points..had used most of them already in my BWV..so won’t impact us for several years as we will still have 780! Given this, the resale value became so much less of an issue...lol

Now I am also adding the kids to my August UY SSR contract as well..which, until today, forgot it was bought post resale restrictions for member benefits, so the add on ended up being the only way to do it..but thanks to @KAT4DISNEY for the idea!

Given my retirement and plan to visit Disney a lot, including solo trips, having a chance at tower studios or SV studios is a good thing.

Granted, this situation is unique, I know, but did want to share that what started out as a no way situation, turned out to be a very good thing for my family!

Ill update once we actually make it all happen because I have to coordinate getting everything into one membership.

 

[clayfolks]

Congrats! Great idea!!

 

[Jenniebee]

That is great! It worked out awesome for you! Still get direct benefits, plus a longer contract, and you made money on your old contract. It really does not get better than that.

 

[SecondEventuality]

That's great news on selling! Congrats! Yeah, the resorts that are expiring 2042 are basically at the apex right now for selling. I really wish we were younger and could look at longer contracts, because, personally, I love the Riv and wish we could buy it!

Sounds like a great plan!

 

[RivShore]

Congrats, Sandisw!! And Welcome Home!

 

[bobbiwoz]

Congratulations! Enjoy your newest DVC home!

 

[Bellecruiser]

Great news for you! I am so happy for you.

 

[Marionnette]

Congratulations! You and I are at similar crossroads in our lives, right down to the number of adult children, their ages and the size of our BWV contracts. I’ve been following your thought process with great interest. However, I’m still not sold on RIV and I just love BWV too much to let it go. I think you made a good decision for yourself and your kids are very lucky to be the beneficiaries of your generosity. I hope you have many happy years of ownership.

 

[Sandisw]

Congratulations! You and I are at similar crossroads in our lives, right down to the number of adult children, their ages and the size of our BWV contracts. I’ve been following your thought process with great interest. However, I’m still not sold on RIV and I just love BWV too much to let it go. I think you made a good decision for yourself and your kids are very lucky to be the beneficiaries of your generosity. I hope you have many happy years of ownership.

The good news for me, which helped, is I still own BWV, 150 points. Had I only had one, it would have been a much harder decision or I would have sold one of my SSR contracts...but then the financially picture would have been different!

 

[Ms.Minnie]

Congratulations, I hope you enjoy your new home for many years to come.

 

[Sandisw]

Update for those interested. I officially added on today..135 points.

I called Member Administration about the coordination of getting my current SSR contract with the same owners as my RIV will be. Since I had already started the process with First American..did not want to tackle the transfer on my own and worst the $475..that I could go ahead, add on Rivera with the new owners, and that MA will just hold closing it officially until the transfer of my SSR contract with the new names finishes.

First American has been great and said knowing that we are doing this..they are the one that works with Disney..they will push things along for us.

We should have the points in the account very soon! We are not financing and using Disney Visa. Disney allows a buyer 30 days to pay off the contract and will coordinate the charges to the cards when I want. They can submit no more than $10 K to a card at one time. However, that $10 K can be done, within credit limits, more than once, allowing an entire purchase to be put on CCs in those 30 days.

Last, I asked about the incentives and rumor of RIV going up. The additional point incentive that is being offered right now is what is going away. The price of $188 is not changing, as of right now, We took the cash and not the points. I believe today is the last day for that. I did confirm that any new incentives coming out would not be better than what I can getting for my 135 and was told no.

 

[Sanwich]

Last, I asked about the incentives and rumor of RIV going up. The additional point incentive that is being offered right now is what is going away. The price of $188 is not changing, as of right now, We took the cash and not the points. I believe today is the last day for that. I did confirm that any new incentives coming out would not be better than what I can getting for my 135 and was told no.

Thanks for following up with an update. It’s good to know the price isn’t increasing (at least for now).

 

[sethschroeder]

If you 100% are sold on RIV no point in waiting. I can't see them making anything cheaper. The only changes I can see would be to the sold out property prices or resale restrictions.

Be following along as everyone has their first stay! Really exciting to be at the new resort with skyliner.

 

[Sandisw]

If you 100% are sold on RIV no point in waiting. I can't see them making anything cheaper. The only changes I can see would be to the sold out property prices or resale restrictions.

Be following along as everyone has their first stay! Really exciting to be at the new resort with skyliner.

Yes! Like I shared, the more we talked with the kids...well me..DH just had to agree to my plan...the more it was decided that this resort worked for all of them and for us.

But, while VGF is my favorite, I enjoy staying in different places. Every time I stay at one, I say, Yeah I like it here! I have been at BWV, SSR, and VGF this year. Have BLT, Poly and CCV booked for trips through March. Hoping for nights in RiV In May or June and we will see!

 

[Dizzydizney]

@Sandisw congrats! We did something similar. We purchased in May, with good incentives (don't remember what they were, but DH crunched the numbers). We did two 100 pointers with DD on deed (not married yet). We, too sold a small BWV contract (I think we made more than $70 pp than what we paid) but still have plenty of BWV points. Sold our SSR points (never stayed there, and paid top $$ pre-sale, but still made $10 pp more than what we paid). I was having some buyers remorse when the skyliner broke down...thinking I made a mistake. However, we visited recently and got to take a few rides. Wow, I am really, really delighted with how wonderful it is. Now that I've ridden on it, I understand the concept more. And I am happy to report that it really doesn't have a bad affect on the International Gateway. They have added lots more security checkpoints and lots more turnstiles. Plus only 10 people getting off at a time really isn't that big a deal. We still try to get there before the boat when walking over from BoardWalk though...those boats really hold lots of people.
I'm not really concerned about the resale rules. I won't live long enough....the expiration date for Riviera is way longer than mine!! I am hoping to get 25 years or so out of it!
Very excited for our first stay.....make sure to make your reservations as soon as your points are loaded.

 

[Sandisw]

@Sandisw congrats! We did something similar. We purchased in May, with good incentives (don't remember what they were, but DH crunched the numbers). We did two 100 pointers with DD on deed (not married yet). We, too sold a small BWV contract (I think we made more than $70 pp than what we paid) but still have plenty of BWV points. Sold our SSR points (never stayed there, and paid top $$ pre-sale, but still made $10 pp more than what we paid). I was having some buyers remorse when the skyliner broke down...thinking I made a mistake. However, we visited recently and got to take a few rides. Wow, I am really, really delighted with how wonderful it is. Now that I've ridden on it, I understand the concept more. And I am happy to report that it really doesn't have a bad affect on the International Gateway. They have added lots more security checkpoints and lots more turnstiles. Plus only 10 people getting off at a time really isn't that big a deal. We still try to get there before the boat when walking over from BoardWalk though...those boats really hold lots of people.
I'm not really concerned about the resale rules. I won't live long enough....the expiration date for Riviera is way longer than mine!! I am hoping to get 25 years or so out of it!
Very excited for our first stay.....make sure to make your reservations as soon as your points are loaded.

Yup. They said they will be in by noon tomorrow. We had to wait today for my DD to send her CM ID to process her discount,

And, we just got the paperwork from title company for transfer of SSR, so that is moving along quickly!

 

[CarolMN]

Congratulations! Happy for you (and just a little bit jealous).

 

[kboo]

Update for those interested. I officially added on today..135 points.

I called Member Administration about the coordination of getting my current SSR contract with the same owners as my RIV will be. Since I had already started the process with First American..did not want to tackle the transfer on my own and worst the $475..that I could go ahead, add on Rivera with the new owners, and that MA will just hold closing it officially until the transfer of my SSR contract with the new names finishes.

First American has been great and said knowing that we are doing this..they are the one that works with Disney..they will push things along for us.

We should have the points in the account very soon! We are not financing and using Disney Visa. Disney allows a buyer 30 days to pay off the contract and will coordinate the charges to the cards when I want. They can submit no more than $10 K to a card at one time. However, that $10 K can be done, within credit limits, more than once, allowing an entire purchase to be put on CCs in those 30 days.

Last, I asked about the incentives and rumor of RIV going up. The additional point incentive that is being offered right now is what is going away. The price of $188 is not changing, as of right now, We took the cash and not the points. I believe today is the last day for that. I did confirm that any new incentives coming out would not be better than what I can getting for my 135 and was told no.

Congratulations!

 

[Sandisw]

Update #2. Well, the new incentives came out and adding on to 175 worked out to be a fantastic deal and it lowered our price per point about $13 so we went for it,

Points loaded, rooms for June and September booked! Paperwork for SSR transfer was sent..took about 10 days for closing company to do that...sent back already, and so new deed with kids as owners should be complete next week !

Happy Halloween to me! It is ironic too because 27 years ago my DD who is a Disney CM was born! So now I get to celebrate not only her birthday, but getting new points!

 

[SecondEventuality]

It was SO COOL to see Riviera tower studios as an option in RAT just now! So tempted to do a quick "couples only" trip next year! I totally can't wait for RIV!!!!