Co-owing a vacation rental home with friends/family. Good Idea?

[Pete Wilson]

One option I haven’t seen or heard mentioned is home co-ownership/group ownership. Why is that? On the surface, it seems like a great way to get started and lower the barrier of entry!

Prior to Pacaso, my friends and I had an idea to purchase a vacation home as a passive income generator.

Curious to hear everyone’s thoughts on group/co-ownership for real estate. Specifically as a vacation rental.

[V.G Jason]

Quote from @Pete Wilson:

One option I haven’t seen or heard mentioned is home co-ownership/group ownership. Why is that? On the surface, it seems like a great way to get started and lower the barrier of entry!

Prior to Pacaso, my friends and I had an idea to purchase a vacation home as a passive income generator.

Curious to hear everyone’s thoughts on group/co-ownership for real estate. Specifically as a vacation rental.

I keep hearing about this, and it sounds great to people trying to enter the space on paper. However, I think it's one of the most dangerous ways to get in.  There needs to be contractual language about terms of using it, maintenance costs, ownership upon death, selling it, etc. There's just too much that can go wrong. Ownership like these needs usually one voice, having multiple will cause too many issues.