Let'sGo

I've been seriously considering joining a DC. One that interests me the most is Equity Estates. I keep hoping to gain some further info from this webiste, but the posts for Equity Estates are few and far between. Are there any members on this website who could provide me with some feedback. Any feedback advice would be of value.

Kagehitokiri

welcome to the forum Let'sGo

EE Member

I have been an EE Member since inception of the Fund. EE accepts new members through a private offering of securities, and information on the website is restricted only to members and guests to preserve the securities law exemption which enables EE to sell memberships (the non-equity clubs don't have these restrictions). If you contact EE directly through the website, they will give you a temporary login information for the web site and any other information you desire.

As for some general feedback, here is my experience -- I was fairly exhaustive in researching different destination clubs and other similar options. I was looking to purchase an apartment in New York City and as my wife and I considered the cost relative to our limited usage, we started looking for alternatives. We looked at several DC's as well as a hotel option (the St. Regis residences in NYC) and a one-destination club (the Philips Club in NYC) -- as we looked at the options compared to EE, the benefits became obvious to us. We took a little bit of a risk by commiting to invest more than 6 months before the first property was opened, but have been thrilled in the 18 months since. What we bet on in investing was:

- that EE's smaller membership relative to other DC's (in particular Exclusive Resorts) would create more of a family atmosphere between the club and members, more member "input" into new destinations;
- We would not have problems sending non-family members or other unaccomapnied guests (for me, the ability to send unacompanied clients was important) -- EE has also allowed us to donate unused nights to charity (a nice tax deduction);
- Ability to share a share or invest through an LLC -- we ultimately decided to buy a full share as a family, but a close friend was allowed to invest through his company and another friend bought a half share to test the waters -- he may want to upgrade to a full share in the future;
- Fair exit options -- EE has a 1 in 1 out policy rather than the much more common 3 in 1 out;
- Availability would not be a problem -- it has never been a problem;
- that EE would be able to generate a significant investment return rather than the typical DC Haircut upon exit. Several EE investors are successful real estate developers and hospitality industry vets -- EE leverages that expertise when they look to buy properties. They are not looking to buy in the same way that another DC would (for example, EE would never buy in a "Trump" building because it makes no sense as an investment to pay for that name. Instead, they use their real estate expertise to be opportunistic about the properties they buy -- for example the apartment in New York on 57th street and 3rd avenue is absolutely spectacular, a great location (1 block from Bloomindales, a short walk to all of the high-end shopping), but it is not on Fifth Avenue or Central Park (both mature real estate neighborhoods and very pricey) -- it is in an area which has become very hot since EE purchased the property, and that fact is reflected in an appraisal (EE does annual appraisals on all of their properties) which has shown an incredible jump in value in year 1, and oh by the way Oprah bought the penthouse for $7 MM). Exclusive Resorts never would have purchased that property, but because EE is investing for their members, they thought it was a good deal at the time. It is by far EE's most popular location. EE is also seeing some pretty amazing investment opportunities with the relatively shaky economy -- it helps to be a cash buyer who can close within days for the right opportunity.
- that all properties would be unique "trophy" properties. The Manhattan Condo is 3 bed/3 bath 1550 sft . The Turks Oceanfront Condo (not damaged by Hurricane Ike) is an absolutely spectacular 4 bed/4 bath 4500 sft lower penthouse with 1100 sft of outdoor terraces. I have also traveled to Beaver Creek and Deer Valley -- both spectacular.

That's a thumnail. We've been actively traveling with EE since April 2007, we have spent approximately 40 nights in EE properties and have been thrilled with the investment so far.

Kagehitokiri

welcome to the forum EE Member.

terrific first post. :thumbsup:

g50

We just joined and are very excited to get started. Looked into all of the destination clubs and EE is by far the best deal.

Kagehitokiri

welcome to the forum g50.

bravejoe

We have been EE members since late last year, and have been thrilled with the properties and the SERVICE. Personal travel concierge service has made family travel much easier. My wife loves the fact that our customized grocery order is waiting at the property (and put away) when we arrive...with no upcharge for the groceries.

The PTC's and local hosts work on dinner reservations, event tickets, tee times , directions, etc., etc. If some detail is not up to snuff, they make it right as a priority. For example, we did not have reserved beach chairs as requested, and the PTC and local host immediately went to other vendors until they made it happen for us.

The EE motto is to exceed expectations, and they have succeeded with us.

DC4MS

Please post some mini (or full) reviews of the Equity Estates properties that you have visited in a new thread and link any pics you may have and we are glad you joined our forums.

Let'sGo

I was hoping to see further posts on the Equity Estates properties... anyone out there?

3DH

Hi Let'sGo... while it's probably the feedback you are asking about, the admin did post a review of the Turks property with some photographs from a visit he made last month... you can find it here.

As to other members... with a relatively small member base, as of yet, and no way of reaching members to tell them directly about this site, it is likely that actual member reviews will be hard to come by! That said, keep fingers crossed, as it seems we are getting new DC Forums members daily! Hopefully, more EE members will find us!

__________________
"Boutique" is better! Another extremely satisfied LUSSO member!

Let'sGo

I have seen the excellent review of the Turks and Caicos property. I knowits's one of the most popular.

I'm am working with EE and have been impressed with the serviced I have received so far. I am close to joining. If I do, I guess I will have to make an effort to post some reviews.

mcone3

We have been members for about a year now and this is the first investment we have made with a destination club. I cannot think of a better time to be investing in resort real estate. Luxury resort real estate has proven to hold value and not go through the sharp price declines in a shifting market and appears much safer than the stock market these days.

We have been to the properties in New York, Deer Valley and Turks & Caicos and the "wow" factor is HUGE! All properties far exceeded our expectations and the local concierge services were invaluable at all locations. We have actually been on the site for the home that is to be built in Cabo San Lucas, Mexico and all indications are that this could be THE flagship property in the portfolio!

The administration staff with Equity Estates has always been attentive, courteous and professional. Planning vacations has never been so easy! We're looking forward to making many more happy family memories at our Equity Estate residences!

Let'sGo

Thanks MCONE3. I have just joined and look forward to my first trip to Naples over Thanksgiving. So far, I have had a very positive experience with the administrative staff.

I agree it's a great investment. Considering what's going on in the Financial world, leaving your money in the banks could be a risk..... I said this to my lawyer and he said- tell me about it. I had money in Lehman Brothers.