Ever Try to Do a 20% Co-Ownership Sale of a Property

[Katrina Cabral]

Aloha, I have an awesome condo on the beach in Waikiki. I'm trying to figure out what to do with it - and it just occurred to me that it might be an excellent property to sell shares of co-ownership. I'm wondering if anyone has experience with this? Any advice, warnings, tips? Has anyone here ever purchased a property and then attempted to sell shares of it this way? It seems like a possible way to sell a property for more than you might get with a traditional sale. Am I crazy or does this sound like a good idea?

I just received a flyer in the mail for a 20% co-ownership share in a property in Tahoe. The flyer reads,

Benefits of Co-ownership:

Property tax, maintenance, and insurance costs are divided among co-owners.

co-Owners have a fixed vacation schedule allowing them to plan far in advance.

Able to visit up to 75 days each year

Co-owners participate in the appreciation of the asset