How to Explain Second Home Co-ownership

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For many of your second home clients, co-ownership will be a new concept. They’re probably familiar with timeshares, and they may know friends or family members who’ve bought property together. But they’re relying on your real estate expertise to help them understand what makes Pacaso’s co-ownership model different. Here’s a helpful reference you can use to explain the benefits of Pacaso’s fully managed LLC co-ownership offering to your buyer clients.

The elevator pitch

Pacaso 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 sell their ownership with a local agent, enjoying any equity gains.

Answers to clients' commonly asked questions

Is this a timeshare?No. Pacaso is LLC co-ownership of a single-family home, not a condo or resort hotel unit. It is a true real estate asset in a residential community with a small group of co-owners. The value of the owner’s real estate property asset moves in line with the whole-home market, and owners can sell at a price of their choosing. Does this work like a regular real estate transaction?Yes. The legal forms and closing process will be largely the same as a standard home purchase. Local agents (like me) partner with Pacaso and receive commission when our buyers close on a sale of a Pacaso.Can I get help to finance my Pacaso?Yes. Pacaso offers buyers access to a competitive-rate mortgage for up to 70% of their home’s purchase price. Buyers can also use other funding sources such as a HELOC, credit line or cash.How do I schedule time to use the home?Owners book stays using the Pacaso app, designed to make scheduling easy and equitable based on your amount of ownership. You can schedule stays throughout the year, anywhere from 2 days to 24 months in advance, and there are no fixed selection periods.If your clients have additional questions, you can direct them to our Buyer FAQs, or contact us and we’ll be happy to help

Pacaso, explained: An elevator pitch for your clients

The elevator pitch

What makes Pacaso unique?

Answers to clients' commonly asked questions

3 ways to increase inventory in tight markets

5 big ways Pacaso is unlike a timeshare

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