Fractional Ownership beach house in NJ

[Ben Dubinski]

Does anyone have experience with purchasing a fractional shares of a vacation home? There is a duplex on the beach with a 10 week share, offered for $145k. 3 bdrm, 2 bath 1000 sq feet. A very nice looking home that based on the location, if sold as one entire property would likely be well over $1MM.

How does financing this work? Will it likely appreciate over time, perhaps in the hopes of selling for a gain, to then buy our own single family vacation home?

Also the potential rates for renting out weeks for short term vacation rentals at this property would be very high. Our family has rented in the same town, but not nearly as close to the beach, for $5200/ week in the past couple years.

I feel like this is a great early entry into owning a beach vacation home without the exorbitant pricetag and maintenance worries. What might I be missing?