IIt’s one thing to own a gorgeous mansion as your primary residence, but adding a second or third home takes things to another level. Pacaso, an innovative platform for luxury second home ownership, tries to make it easier for you. Pasaco is built around group ownership – but in a new way.
Pacaso offers shares in luxury single-family homes, allowing for up to eight buyers, while streamlining the entire homeownership process. Unlike traditional co-ownership, every Pacaso share means actual ownership of the actual property rather than the old system of giving you a certain amount of residence time each year.
Pacaso creates a real estate LLC for each home and handles all the selling details for the group of owners. At closing, the co-owners obtain 100% ownership of the house. Pacaso retains no shares.
The idea is to avoid both the hassle of traditional home ownership and messy traditional timeshare situations. You can own part of a $10 million cottage in Colorado or a $10 million beachfront stunner in Malibu — the kind of home you might not otherwise be able to afford — for around $1.5 million. With everything completely turnkey.
Perhaps the most exciting benefit of Pacaso’s ownership program is that the company takes care of all furniture, repairs, utilities, and property management. Even tour planning is simple and fair with a mobile app. You never have to personally coordinate with your co-owners. Each house also has a dedicated house manager to help coordinate trips and provide peace of mind that the house is being taken care of.
Pacaso may not be reinventing the wheel, but its point of difference certainly commands attention. And money. Co-founded by former Zillow executives Austin Allison and Spencer Rascoff in 2020, the startup recently reached a valuation of $1.5 billion after raising $125 million from investors.
The company’s collection of property offerings spans the globe in 30 of the world’s most desirable vacation spots. This means Park City, Vail, Palm Springs, Malibu, Napa, Tahoe, Miami and recently some new locations in Spain.
Here are some of the homes Pacaso is currently selling:
$2,638,000 for 1/8 ownership
The newly remodeled home overlooking Shadow Mountain is available for purchase. There’s an open floor plan ideal for entertaining in this stunning five-bedroom home just off Aspen’s popular Main Street.
$974,000 for 1/8 ownership
Owners of this three-bedroom beachfront home enjoy dreamy ocean views and a true California lifestyle. With a modern aesthetic and a spacious patio to enjoy the seaside, this dream home is elegantly designed for the holidays.
Jackson, Wyoming and Pacaso
$1,379,000 for 1/8 ownership
In an area known for its impeccably modern estates designed to put nature first, this Jackson Hole dream home is an architectural masterpiece. The five-bedroom mansion has a large living room and a water feature to complement the Grand Teton views.
$715,000 for 1/8 ownership
This Sonoma County wine community has long been a hidden gem compared to its much busier Napa neighbors, but the homes are very stately. Pacaso’s Healdsburg home features contemporary finishes and a huge pool overlooking wine country.
$1,742,000 for 1/8 ownership
This five-bedroom home on the Vail Golf Course is the pinnacle of mountain living. With natural stone walls and multiple roaring fireplaces, owners enjoy a spacious mountain retreat with modern conveniences and state-of-the-art finishes.