For background and context, I already own a 217 pt Aulani (subsidized) contract from 2019. This year I rented out points from it for the first time and noted that it was easier than I thought to rent out (@ $18/pt to me). I decided to run some numbers on the spreadsheet.
What was going through my mind: 1. how long to break even by renting out? (A: 11 yrs for the referenced big contract and 10 yrs for my current one); 2. how many years left on the contract from the time I take ownership? (A: 38); 3. how many years after break even do I have on the contract? (A: 27). 4. how much return on initial capital cost if I rented out all 27 years? (A: 2.37x). ***
DVC is NOT an investment*** and this is NOT investment advice.
I agree there is a lot of value in 40 (even 38) years of subsidized dues...add the oft-overlooked fact that other "cheap currency" (as you put it) aren't nearly as popular to rent out in the 11-month window compared to Aulani. Talk about added value!
Anyways, the above is all just speculation and me thinking out loud. That said, would you ever consider buying a subsidized Aulani contract to defray the cost of other contracts and annual dues? If yes, can you see yourself crossing over and start "investing" in subsidized Aulani contracts and take profit over a long period of time?
My answer for the first question is "yes" because it is organic and a way to defray cost within DVC ecosystem. For the second, it is probably "no" (i'm pretty sure $60K in TSLA will probably outperform but I can't have as much fun with stock). So ***DVC is NOT an investment*** remains a first principal.