Paradise Destination Club
Seemingly a near perfect financial model from a real estate perspective, Paradise Destination Club has six questions in their FAQ section that they consider to be of "utmost importance" pertaining to member's security on their membership deposit.
How many of your homes have a mortgage?
No Paradise Destination Club properties have a mortgage - zero debt properties.
What are your total monthly mortgage payements?
Paradise Destination Club has Zero Mortgage Payments.
How many of your homes are leased?
None! Paradise Destination Club homes are not leased.
What are your total monthly lease payments?
Paradise Destination Club has NO lease payments.
What other indebtedness does the club have, ie. notes to stockholders, etc.?
None. The only indebtedness the club has is the upkeep of the residences which is more than 100% covered by the annual dues.
Do you ever rent your homes?
Paradise Destination Club never allows rental in a Club Home.
Paradise "researched some of the top Private Residence Clubs" to compare their offering to others, comparing against Club A (Exclusive Resorts), Club B (Unknown), Club C (Unknown), and Club D (Private Escapes).
President Michael Dignam writes "We are sure you will be totally satisfied with PDC's quality procedures to make your every vacation a memorable one. In fact, we guarantee it."
Although the overall structure of the club is unclear, it appears that the young destination club worked around exchanging properties, a model that has been hotly debated as to the validity of being branded as a destination club. Likely, the club planned to offer members access to these shared properties in exchange for a membership deposit, using these new funds to purchase properties for the club itself. This type of structure has been used several times in the destination club sector, but none have been able to ever successfully implement the model.
To learn more about Paradise Destination Club, please visit the club's quick links found to the right or request a free copy of our Destination Club Guide.
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