All Forum Posts by: David Perque

Quote from @Lyndsay Zwirlein:

Quote from @David Perque:

I'm looking for a service/platform/forum where I can express interest in market(s) and can potentially match up with other buyers that are interested in being a co-owner (likely of an LLC) on a higher end property.

I'm not interested in Pacaso where I'm shelling out a premium for 1/8 share of a $4MM+ house - restricted from any rental income and basically paying hefty fees for calendaring and interior design services.

I'm interested in filling out a form that says I'm interested in Vail, CO (for example), open to 1/2 to 1/4 ownership of a Condo/SFH, have a budget of $500K (cash/finance) and generally need at least 3bedrooms. Yes/No on STR, we can figure out the calendar, rules on selling, etc. Basically do all the Pacaso stuff, but for just a few parties and simplify the whole thing. In a nutshell, I'm able to get my family into a much nicer home for our vacations and in exchange, may not have all our preferred dates every year, but all expenses are split. This seems like a bigger market than Pacaso's, but what do I know.

Obviously establishing the LLC and purchasing homes prime for joint ownership is Pacaso/Ember's "bread and butter" and allows them to already have the home so timing isn't as critical on closing, etc. And they don't have to have all the share's spoken for so they are essentially floating the debt until shares are sold.

Any ideas? This feels like something a Zillow could spin up relatively quickly given the data they have.

Check out fractional.app. They are doing something similar. Recently spoke with their leadership team - super impressive group & great concept. 

 Thanks. I checked it out, but still trying to figure out real proposals (not samples). 

I'm looking for a service/platform/forum where I can express interest in market(s) and can potentially match up with other buyers that are interested in being a co-owner (likely of an LLC) on a higher end property.

I'm not interested in Pacaso where I'm shelling out a premium for 1/8 share of a $4MM+ house - restricted from any rental income and basically paying hefty fees for calendaring and interior design services.

I'm interested in filling out a form that says I'm interested in Vail, CO (for example), open to 1/2 to 1/4 ownership of a Condo/SFH, have a budget of $500K (cash/finance) and generally need at least 3bedrooms. Yes/No on STR, we can figure out the calendar, rules on selling, etc. Basically do all the Pacaso stuff, but for just a few parties and simplify the whole thing. In a nutshell, I'm able to get my family into a much nicer home for our vacations and in exchange, may not have all our preferred dates every year, but all expenses are split. This seems like a bigger market than Pacaso's, but what do I know.

Obviously establishing the LLC and purchasing homes prime for joint ownership is Pacaso/Ember's "bread and butter" and allows them to already have the home so timing isn't as critical on closing, etc. And they don't have to have all the share's spoken for so they are essentially floating the debt until shares are sold.

Any ideas? This feels like something a Zillow could spin up relatively quickly given the data they have.

Quote from @Sam M.:

Pacaso's criteria for buying your property is pretty steep. Also, they are looking at homes appraised in the top 5% of home markets (>$3MM minimum). So if you have a $2MM home, they will not be interested.

Why can't you just setup an LLC and put that home in the LLC. Then have the real estate agent market 1/8 (or whatever fraction you choose) to buyers. If it is an established STR then you have it set-up operationally.

I mean, you can, but Pacaso does all that for you. I would think doing all that work and then figuring out a fair scheduling process between 8 total strangers to share your home might be a little more complicated that you think. I mean, I just got an email for a service to take my trash out to the curb on trash day - there's a market for every service.