For anyone who has ever dreamed of owning a multi-million-dollar vacation home in a luxury resort area in the United States or abroad, a San Francisco-based start-up firm claims it’s now possible–even if you’re not a multi-millionaire. Pacaso, founded in 2020 by former Zillow executives Austin Allison and Spencer Rascoff, offers “the modern way to buy and own a second home.” After identifying a home to purchase, Pacaso sets up an LLC to acquire the property, then sells eight equal shares of it to interested buyers. Each share ranges from $250,000 to $1,000,000 and over, plus monthly service fees. All homes are furnished and include linens, kitchen essentials like dishes and cookware, paper products, and even basic toiletries. Owners can then use an app to schedule their vacation time of up to 44 nights per year, with a maximum of 14 days at a time. Currently, Pacaso offers luxury homes in …
Dream of Luxury Vacation Home Ownership Morphing Into Nightmare for Some Local Neighbors in California
September 17, 2021
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Business & EconomyCaliforniaCompaniesLocal Newsluxury homesNorthern CaliforniaPacasoRegional-Local NewsUSvacation home
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