We would like to extend a warm welcome to our Equity Platinum Fund investor Deitra.
Deitra and her husband Dennis joined the partnership in 2018 and have since stayed at the Equity Platinum Fund and ThirdHome residences.
We sat down with Deitra to ask about her experience being an investor and how she travels with her husband.
ER: Deitra, please tell us about yourself
Deitra: I have been living in Colorado since 1984. My wonderful husband and I have two incredible daughters who both recently graduated from universities. I am happy to say they are gainfully employed and working full-time.
My professional background is in healthcare and business management. My husband is in the patent business. We are both somewhat retired but now work on projects we deeply care about. Currently, I am managing a grant program.
ER: How did you hear about Equity Residences?
Deitra: We first learned about Equity Residences during our search for a second home.
We were looking for a second home where we could possibly live part-time. We wanted to find that special spot where we would want to return to throughout the year. We are empty-nesters, so we are fortunate to have the flexibility to travel when we want.
ER: Where were you looking for a second home?
Deitra: Many places in the United States, Mexico, Canada, throughout the Caribbean, and Central America. We wanted to experience everything first-hand so that required a bit of travel and time to experience these places.
Believe me, there are so many beautiful places, people, and homes. We were just not able to find that one place we would want to return to again and again.
We were concerned about buying a home then not using it much throughout the year. It was during our search in Colorado where we discovered several different types of ownership programs. These kinds of programs were more like ¼ ownership of one home. It got us thinking in a new way.
We then found Equity Residences during our Colorado research. This program sounded ideal for our needs. We looked into it further and became partners. We joined in September 2018 and how incredible our travels have been since then!
ER: Please tell us about your trips with Equity Residences
Deitra: First, let me say we are thrilled with our experiences over the last year. We took our first trip to the Dominican Republic. We were there thinking: This is fabulous! Who needs Hawaii?
Everything with the home, views, people, and weather were perfect. We went with friends and had a blast. We loved hanging out at the pool, laughing a lot, and going on walks and exploring the entire area. We all agreed that the golf course was the most beautiful we had ever seen. It was an unforgettable experience.
I cannot say enough about the staff at the Cap Cana home. We appreciated the efforts of our Butler, Cook, and Housekeeper. The private chef is highly recommended and we even had a driver to take us around. I am not used to this level of service and amenity which made our stay even more special.
We scheduled another trip right after Cap Cana. This time, we had our eye on Costa Rica for Thanksgiving. We had to change our plans, though. Our daughters are both working full-time and their schedules would not allow this vacation together.
This last summer was our trip to Hawaii. Dennis and I went to Kauai and then met friends at our Mauna Lani residence on the Big Island. Unbelievable! Oh my goodness, what a wonderful spot and experience there as well. The snorkeling, hiking, shopping, golfing, boating was fabulous. Everything so close by and the Big Island Aloha experience was celebrated better than we had ever known before.
ER: You went to Lake Tahoe, next. Tell us about that trip?
Deitra: Yes, in the Fall we had my family reunion at our Truckee home at The Northstar Resort. My large family joined for a week. We have never been able to spend that much time together which turned out much better than I would have ever imagined. The Tree House is luxurious and all about family fun and gave us ample room. Everyone was so grateful and appreciative that we look forward to the next gathering. Another incredible home with a world of exploring and sport opportunities close by.
I just think these places make it easy to create new memories and wonderful experiences together with your family and friends or simply together as a couple. It really has become the best lifestyle investment we have ever made
ER: Sounds like you have an exciting and busy travel schedule!
Deitra: During Thanksgiving week we were in a ThirdHome Penthouse right on the beach in Miami, Florida. Again, a trip where the location and the home were fabulous. Hard not to have a great time and it was more economical for us to use a 4-bedroom penthouse with an affiliate partner than it would have been to use a 1-2 bedroom in the city through VRBO or Airbnb
Also, recently we took a trip with friends to Frisco, Colorado. We love that we can use the program right in our backyard! This presents a great opportunity to get away and having destinations close by. It is a huge plus for us.
This time in our life is very unusual and we can honestly say we are enjoying this phase of it!
We now have so many unique opportunities that we didn’t have before we joined Equity Residences.
There are so many travel opportunities. It is very remarkable and a bit overwhelming when you add up all the homes available through the Platinum Fund, the Villa Fund, Elite Alliance, and ThirdHome.
ER: How did you do your due diligence before investing?
Deitra: We looked at several programs and also spoke with Greg Salley, the Managing Director of Equity Residences. We discovered the Platinum Fund which we found interesting. We liked the locations and homes.
I like investing in future and family lifestyle and my husband is the contract expert. If a contract can pass my husband’s scrutiny, then it will be a yes. He looks at every word and at many angles. I am happy to say the contract passed! We became partners!
ER: A lot of our would-be investors ask us about our credit system. Can you please tell us how you use your credits?
Deitra: Once we joined the Fund, we had 120 credits. That seems to be enough for right now. My husband and I have been fortunate to take advantage of many of these places on short term notice availability.
[ER: We use credits to equalize vacation value across a diversified portfolio of luxury vacation residences.]
Since we can be flexible with our travel times and dates, we were available when the property had openings, so credits were not applied.
You also can use half your credits that you do not use toward the annual fee requirement and still have some credits left over. Whatever we do not use by the year-end will roll over to an affiliate property which can be used the following year.
However, when you look up any home that you are interested in visiting you will see a credit schedule that has specific dates with credits attached to those dates. It’s simple math. Also, Taylor Kudell who is the guest and partner relationship manager is very helpful and responsive to any questions. There is a learning curve in understanding this in its entirety and it is so nice to have a team ready to help you with any questions.
Thank you, Deitra!
We would like to say thank you to Deitra for taking time from her busy schedule to speak with us. We are glad to hear about experiences with our residences. We wish you and yours the very best and look forward to the next time we meet.