What a joke. Can’t people add. This company is buying houses. Marking them up 30% or more and selling snake oil. Good for the legal business. Airbnb should jump in also.
All these creative manipulations would end badly. I am not buying any more new rentals… waiting… CASH is king… contrarian to current consensus view that cash is worthless because of Fed printing.
Meanwhile, I am crushing it with long term rentals in Eldorado county. There is gold in them thar hills.
Glad you are open about it. I get an impression on this forum that bay area real-estate is cheap and poised to grow. One can never be wrong with Real Estate in Bay Area. Why? Because Bay Area is a chosen land (by the God himself) and the laws of economics and finance do not apply to the bay area. Unfortunately, I am not sure the people who make such claims have bought any overpriced rental in Bay area for themselves.
I think SF condos are under priced currently. But rent control, liberal policies and high HOA fees are scaring away investors.
Heard an ad for them today on Pandora.
They are selling a big lie. They think that people will actually believe that fractional ownership is as easy as renting a house or staying at a hotel. I have friend with a fractional ownership in Puerto Vallarta. He bought one month at a beach front hotel 20 years ago when he was drunk. Still can’t rid of it. Never goes there. Now has two kids and divorced. Meanwhile the whole hotel became a gay party spot… not a place to take young kids.
I don’t see the point with Airbnb an option. Just rent when you want to use it. Pick any location you want vs locking into one location. I guess they are selling appreciation from ownership, but who knows how sellable a fractional ownership is.
And if you count yearly fees you have to pay to the time share and other costs to do an exchange, you might as well book a hotel on priceline at cheaper rate at location and timing of your choice.
I personally think fractional ownership is worth less than the some of the parts. Pacaso is trying to convince a few fools the opposite.