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| Pacaso was inspired by ex-Zillow exec Austin Allison’s experience buying a second home, where he found traditional ownership costly and complicated. From that experience came Pacaso — a tech-enabled marketplace offering co-ownership of luxury homes with professional management and flexible usage. This article explores how Pacaso works, the story behind its creation, and how it makes owning a luxury second home easier, more convenient, and enjoyable. |
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What is Pacaso?
By combining innovative technology, thoughtful design, and professional property management, Pacaso allows more people to own and enjoy a second home in an easier, smarter way — without the stress and responsibilities of traditional ownership.Pacaso is a technology-enabled real estate marketplace that reimagines second home ownership by making it more accessible, flexible, and manageable. Pacaso’s business model is based on LLC co-ownership, allowing multiple parties to co-own a luxury second home, each purchasing a portion of the property that fits their lifestyle.How does Pacaso work?
Buyers co-own luxury Pacaso vacation homes through an LLC structure. Owners purchase a share that fits their needs — typically from 1/8 to 1/2 of the home — while Pacaso manages all the logistics, including maintenance, scheduling, and day-to-day management.This approach allows buyers to enjoy a turnkey, fully furnished vacation home at a fraction of the cost and hassle of full ownership, while still building potential equity in a desirable property. Whether it’s a mountain retreat, lakeside escape, or coastal getaway, Pacaso makes second home ownership more flexible, accessible, and stress-free.Who are the Pacaso founders?
Pacaso was co-founded in 2020 by Austin Allison and Spencer Rascoff, two seasoned real estate tech executives on a mission to make luxury second home ownership more accessible. Together, they combined their expertise to create a co-ownership model that makes second homes more attainable, manageable, and enjoyable.In 2014, several years before Austin came up with the idea for Pacaso, he and his wife purchased a second home in Lake Tahoe. For Austin, co-founder and CEO of Pacaso, owning a second home had long been a dream—but making it a reality was financially challenging and logistically complex.“We were like most families who aspire to own a second home but could not easily afford it at the time,” he explained. “The only way we could make it work was to rent it out when we were not there. We felt privileged to own the home, but the stress and hassle of managing a rental to help pay the mortgage was burdensome.”This experience planted a seed in Austin’s mind: there had to be a simpler, more flexible way for families to enjoy second homes without the typical financial and management headaches. That idea would eventually grow into Pacaso, a company now redefining what it means to own a second home.How did Austin Allison build his real estate career?
Austin grew up in Cincinnati in a working-class family. His father was a carpenter, and Austin was entrepreneurial from a young age — his very first venture involved building and selling birdhouses to families in his neighborhood. That early curiosity about creating and selling something tangible would foreshadow his future in business and real estate.Not long after, Austin’s interest in real estate began to take shape. He bought his first house at just 17 and earned his real estate license a year later, showing an early knack for understanding property and transactions.As his ambitions grew, Austin founded his first company, Dotloop, in Cincinnati. Dotloop, a platform that streamlined real estate transactions, quickly gained traction and attracted attention from industry leaders. Its success culminated in an acquisition by Zillow Group, where Austin worked closely with then-CEO Spencer Rascoff, gaining invaluable experience in scaling tech-driven real estate solutions.This combination of entrepreneurial spirit, early real estate expertise, and experience with innovative tech would later become the foundation for Pacaso, a company aiming to transform the way people access and enjoy second homes.What sparked the idea for Pacaso?
It was before the acquisition of Dotloop that Austin purchased his second home. Even while running a successful business, buying a full second home outright was a stretch, and the financial burden of owning another property was significant.Austin and his wife were thrilled to have a special place in a location they loved, a retreat where they could make memories and escape the everyday. Yet, the experience highlighted a gap in the market: second home ownership was complex, expensive, and often out of reach for many families.“I felt like I’d achieved a dream,” recalled Austin, “and I wanted to make that possible for more people.” That desire — to make owning a second home simpler, more affordable, and more accessible — became the seed for what would later grow into Pacaso, a company redefining the second home experience for families everywhere.How did Pacaso’s business model take shape?
After leaving Zillow Group, this kernel of an idea started to develop. Austin and Spencer began brainstorming ideas for startups that would combine their shared passions for real estate, travel and tech innovation. They gravitated toward the concept of making second home ownership more achievable for more people, of “right-sizing” ownership by allowing people to buy only the amount of a home that they’ll actually use, and enabling true ownership with far fewer hassles. Austin believed that a co-ownership model would not only lower costs for owners, it would create a more sustainable housing market in vacation home communities. By consolidating multiple owners into one higher-priced home, these buyers would not be competing for much-needed middle-tier inventory. When Austin discovered that most second homes are vacant 10-11 months each year, he also felt confident that co-owned homes, with a small owner group, would help keep second homes occupied year-round, bringing more consistent economic activity to local businesses. Co-owners purchase the amount of home that meets their needs, and Pacaso handles all the management and maintenance — while communities benefit from invested owners who support local businesses. It was the better way of owning a second home that Austin had imagined was possible.Why is the company called Pacaso?
The story behind our name reflects the spirit of innovation at the heart of Pacaso. In case you’ve noticed the nod to a famous artist, it’s intentional.We are inspired by Pablo Picasso’s revolutionary thinking and the way he challenged artistic norms in the early 20th century. Picasso didn’t just create art — he reimagined how people could see and understand it, co-creating cubism, which brought together individual elements to form an entirely new and innovative whole.That approach resonated deeply with how we envisioned second home ownership. Just as Picasso combined pieces to create something bigger and more meaningful, Pacaso brings together multiple owners to create shared opportunities for owning a second home. By combining resources and rethinking traditional ownership models, we make it possible for more people to enjoy the benefits of a vacation home while reducing financial and logistical stress.“We chose the name Pacaso as a tribute to Picasso’s legacy of innovation, creativity, and challenging the status quo — values that continue to guide how we approach second home ownership today.”Watch the video to hear from Austin and learn more about the origin of Pacaso.How do I start my second home journey with Pacaso?
Pacaso was created to make buying and owning a second home simpler, more accessible, and more enjoyable. Whether you’re dreaming of a mountain retreat, a lakeside escape, or a coastal getaway, Pacaso co-ownership lets you experience the benefits of a vacation home without the full financial burden or management headaches.Explore our listings of Pacaso vacation homes, and discover how easy it can be to find a home that fits your lifestyle. With Pacaso handling all the management and maintenance, you can sit back, relax, and enjoy every minute of your vacation.The Pacaso Story FAQs
01: What is Pacaso?
Pacaso is a tech-enabled real estate company that reimagines second home ownership. It allows multiple people to co-own a luxury second home through an LLC co-ownership model, making ownership more flexible, manageable, and accessible.
02: How does Pacaso work?
Buyers purchase a share of a home that fits their needs — typically from 1/8 to 1/2 of the property. Pacaso handles all management, maintenance, scheduling, and logistics, so owners can enjoy a fully furnished, turnkey vacation home without the stress of traditional ownership, while still building potential equity.
03: Who are the Pacaso founders?
Pacaso was co-founded in 2020 by Austin Allison, former founder of Dotloop, and Spencer Rascoff, former CEO of Zillow. Together, they combined their real estate and tech expertise to create a more accessible, modern approach to second home ownership.
04: How is Pacaso different from traditional second home ownership?
Unlike buying a full property outright, Pacaso allows co-ownership, so families can enjoy a second home at a fraction of the cost, with all maintenance and management handled by Pacaso. This reduces financial and logistical stress while still providing true ownership.
05: How does Pacaso make second home ownership more accessible?
Pacaso makes second home ownership easier and more convenient by allowing buyers to purchase just the portion of a home they need. Co-ownership means all maintenance, scheduling, and property management are handled by Pacaso, so owners can enjoy their vacation homes without the stress and responsibilities of traditional ownership.
06: What inspired Pacaso’s founders to challenge the traditional model?
Austin Allison’s experience buying a second home highlighted the financial and management challenges of traditional ownership. He and Spencer Rascoff saw an opportunity to create a simpler, smarter model that reduced hassle, lowered costs, and increased accessibility.
07: What does “right-sized ownership” mean at Pacaso?
“Right-sized ownership” means buying only the portion of a home that meets your needs, rather than the full property. This allows owners to enjoy the benefits of a second home without the full financial burden or management responsibilities of traditional ownership.
