Manage episode 304613364 series 1019973
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.
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’s 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.
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Where we are:
- Johnny FD – Ukraine / IG @johnnyfdj
- Sam Marks – Ireland/ IG @imsammarks
- Derek Spartz - Venice Beach / IG @DerekRadio
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*Johnny and Sam use all of the above services personally.
- 07:39 – How did you get into the business and what was your inspiration?
- 10:26 – How does this differ from a timeshare?
- 12:23 – How does Pacaso get paid if you do not retain any percentage of the property?
- 14:58 – Can I use my own real estate agent?
- 16:07 – Do you get to look at the property in person?
- 18:13 – Is there a minimum hold on the property you choose?
- 18:59 – How many shares can you buy per home?
- 20:00 – What value are you looking at in purchasing a home through Pacaso as compared to just buying a home?
- 21:32 – What is a property LLC?
- 23:19 – Can you rent the property?
- 26:44 – Can you let a friend or family member use the property?
- 28:47 – Why are you encouraged to not park on the street?
- 30:48 – Can you operate a business from the home?
- 31:29 – What fees does Pacaso charge for maintaining the home?
- 33:43 – Do the homeowners have to agree with what Pacaso assesses?
- 36:24 – Can home owners contact each other directly?
- 38:24 – Can you later buy the house outright if you enjoy the home?
- 40:10 – What is the investment growth of purchasing a home through Pacaso?
- 43:11 – Patreon Question : Can non US citizens purchase homes through Pacaso?
- 44:07 – Patreon Question : What are some locations you are considering both in the US and globally?
- 45:24 – Patreon Question : How has Pacaso handled backlash from the community?
- 48:01 – Patreon Question : Do you provide any additional services that come with the home?
- 51:14 – Johnny and Derek review
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