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By now, you know the basics about Pacaso and the benefits of professionally managed LLC co-ownership of a second home. You know that listing Pacaso homes provides you with additive listings and gives clients a new way to access beautiful residential second homes with fewer complications and costs.
Now we want to equip you with everything you need to share the concept of LLC co-ownership with your buyer clients and answer their questions.
The elevator pitch
Here’s a quick way to explain how the Pacaso co-ownership model works:
Pacaso is a new real estate company, founded by the team behind Zillow. It offers a new way to own a great second home for less costs and hassle: professionally managed LLC co-ownership. Pacaso buys an amazing single-family home and creates a property-specific limited liability company (LLC) with a maximum of eight owners. Each home is professionally managed and maintained by Pacaso. Owners use the company’s equitable SmartStay™ system to arrange stays in their turnkey home anywhere from two days to two years in advance. It’s the smarter way to own the amount of second home you’ll use without the hassle of short-term rental.
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 option of finding a for-sale home they would like to co-own, share it with Pacaso, and we may buy half!
… the advantage of buying a higher priced second home because co-ownership lets them stretch beyond what they could afford on their own.
… the ability to own the amount of second home that’s right for them, ranging from 12.5 to 50%.
… carefree ownership of a turnkey second home, with Pacaso taking care of property management, interior design, scheduling and bill paying.
… confidence because when it’s time to resell (after the first year of ownership), they can set their own price, select a listing agent of their choosing and sell using the standard real estate sales process.
Answers to commonly asked questions
Is this a resort timeshare?
No. Pacaso is LLC co-ownership of a true real estate property asset in a residential community with a small group of fellow 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 standard commissions.
Can I get help to finance my Pacaso?
Yes. Pacaso has flexible financing options available for qualified buyers. Or buyers can use other sources such as a HELOC, credit line or cash.
How do I schedule time to use the home?
Pacaso has created the equitable, real-time SmartStay™ system so there are no fixed selection periods. Immediately upon closing, owners can use the Pacaso Owner App to book stays from 2 days to 24 months out.