I agree with @Bruce Woodruff and @John Underwood. Makes no sense to me. Now, if I could sell them half interest at a super inflated rate. Something like 110% of appraised value, well then I still don't think I would do it...
If you are looking to sell your STR, this may be an option. From what I've seen, they pay top dollar for homes, way more than comps in the area.
Ok, got it.....you have to be looking to sell though. I thought maybe there was some angle.....
Not really an angle -- but being an STR owner you already have a product that is staged and in a desirable location, so you may be able to market as a Pacaso home and get top dollar. We were considering the option but ended up going another route. We are now reconsidering with other properties and wanted to see if anyone else has pondered the same.
Pacaso's criteria for buying your property is pretty steep. Also, they are looking at homes appraised in the top 5% of home markets (>$3MM minimum). So if you have a $2MM home, they will not be interested.
Why can't you just setup an LLC and put that home in the LLC. Then have the real estate agent market 1/8 (or whatever fraction you choose) to buyers. If it is an established STR then you have it set-up operationally.
Pacaso's criteria for buying your property is pretty steep. Also, they are looking at homes appraised in the top 5% of home markets (>$3MM minimum). So if you have a $2MM home, they will not be interested.
Why can't you just setup an LLC and put that home in the LLC. Then have the real estate agent market 1/8 (or whatever fraction you choose) to buyers. If it is an established STR then you have it set-up operationally.
I mean, you can, but Pacaso does all that for you. I would think doing all that work and then figuring out a fair scheduling process between 8 total strangers to share your home might be a little more complicated that you think. I mean, I just got an email for a service to take my trash out to the curb on trash day - there's a market for every service.