The elevator pitchPacaso is a real estate service founded by former Zillow executives. It offers a modern way to buy and own a luxury second home for significantly less cost and removes the typical hassles of homeownership. Pacaso buys amazing single-family homes in top locations and creates an LLC for each home. Buyers purchase the amount of ownership that meets their needs, starting at one-eighth. Each home has a maximum of eight owners, and when the home has been fully sold, Pacaso does not retain any ownership. Pacaso professionally manages the home, handling home design, cleaning, maintenance, bill payment, repairs, LLC oversight, taxes and more. Owners use the company’s equitable SmartStay™ scheduling system to book stays in their turnkey home anywhere from two days to two years in advance.
What makes Pacaso unique?Pacaso gives buyers:
- The opportunity to own a second home for dramatically less cost and management hassle than whole second home ownership.
- The capacity to buy a higher-tier second home, because co-ownership lets them boost their purchasing power.
- The flexibility to own the amount of second home that’s right for them, ranging from 1/8 to 1/2.
- The option to find and share a listing they would like to co-own — if it meets our criteria, we may partner with them to buy half!
- Effortless ownership of a turnkey second home, with Pacaso taking care of property management, interior design, scheduling and bill payment.
- Confidence in a streamlined resale. After a year of ownership, owners can set their own price and tap into Pacaso's active marketplace of buyers, enjoying any equity gains. On average, Pacaso shares resell in less than 10 days, with a 10% gain, on an annual basis. Based on Pacaso 2021 national resale price data as of Q3 2021.