Podcasts Business Invest Like a Boss 199: Co-Owning a Luxury Second Home with Pacaso CEO Austin Allison

199: Co-Owning a Luxury Second Home with Pacaso CEO Austin Allison

Published: Oct. 14, 2021, 4 p.m.

b'

In this episode, Derek interviews Pacaso CEO Austin Allison about owning shares of luxury vacation homes and how it all works. Then Derek and Johnny catch up and give their thoughts on second home co-ownership. This is more a lifestyle play than a pure investment, but we can see where this would be a great option for many people.\\xa0

Austin co-founded Pacaso to make the dream of second home ownership a reality for more people after experiencing the profound effect it had on his own life.

Pacaso is Austin\\u2019s second startup. In 2009, he founded dotloop in his hometown of Cincinnati, a company that created software to seamlessly manage real estate transactions. Zillow acquired dotloop in 2015, and Austin continued to run dotloop as a Zillow executive until 2018. Austin started selling real estate at the age of 18 and worked in residential and commercial real estate for a decade. Austin enjoys running, mountain biking, and flying. He lives in Napa, CA with his wife Angela and their son.

Listen to ILAB 199 on iTunes here or subscribe on your favorite podcast app.

Where we are:

Sponsor:

Discussed:

Like these investments? Try them with these special ILAB links:

  • ArtofFX \\u2013 Start with just a $10,000 account (reduced from $25,000)
  • Fundrise \\u2013 Start with only $1,000 into their REIT funds (non-accredited investors OK)
  • Betterment \\u2013 Get up to 1 year managed free
  • Wealthfront \\u2013 Get your first $15,000 managed free
  • PeerStreet \\u2013 Get a 1% yield bump on your first loan

*Johnny and Sam use all of the above services personally.

Time Stamps:

  • 07:39 \\u2013 How did you get into the business and what was your inspiration?
  • 10:26 \\u2013 How does this differ from a timeshare?
  • 12:23 \\u2013 How does Pacaso get paid if you do not retain any percentage of the property?
  • 14:58 \\u2013 Can I use my own real estate agent?
  • 16:07 \\u2013 Do you get to look at the property in person?
  • 18:13 \\u2013 Is there a minimum hold on the property you choose?
  • 18:59 \\u2013 How many shares can you buy per home?
  • 20:00 \\u2013 What value are you looking at in purchasing a home through Pacaso as compared to just buying a home?
  • 21:32 \\u2013 What is a property LLC?
  • 23:19 \\u2013 Can you rent the property?
  • 26:44 \\u2013 Can you let a friend or family member use the property?
  • 28:47 \\u2013 Why are you encouraged to not park on the street?
  • 30:48 \\u2013 Can you operate a business from the home?
  • 31:29 \\u2013 What fees does Pacaso charge for maintaining the home?
  • 33:43 \\u2013 Do the homeowners have to agree with what Pacaso assesses?
  • 36:24 \\u2013 Can home owners contact each other directly?
  • 38:24 \\u2013 Can you later buy the house outright if you enjoy the home?
  • 40:10 \\u2013 What is the investment growth of purchasing a home through Pacaso?
  • 43:11 \\u2013 Patreon Question : Can non US citizens purchase homes through Pacaso?
  • 44:07 \\u2013 Patreon Question : What are some locations you are considering both in the US and globally?
  • 45:24 \\u2013 Patreon Question : How has Pacaso handled backlash from the community?
  • 48:01 \\u2013 Patreon Question : Do you provide any additional services that come with the home?
  • 51:14 \\u2013 Johnny and Derek review

If you enjoyed this episode, do us a favor and share it! Also if you haven\\u2019t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!\\xa0

Copyright 2021. All rights reserved. Read our disclaimer here.

'