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Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

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Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#11

Post by rblack44 »

atlasunshrugged wrote: post #6

Can you help me understand the key difference here between this and Pacaso (I think from one of the Zillow founders)? https://www.pacaso.com/

Very similar model. We are currently operating in different markets (US vs. Mexico) and are targeting different properties (Pacaso is going after ultra luxury homes). We also have slightly different approaches to splitting up the properties. Pacaso only sells 1/8 shares for all properties, where we also offer 1/4 or 1/10 shares for certain properties based on demand. On the properties side we partner with developers in addition to acquiring existing homes so we are able to sell interest in homes that are not yet built, where Pacaso is only going after existing homes.

Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#12

Post by dragonwriter »

As someone who has sat through several of them (and has bought a few), this is exactly, almost word-for-word (right down to the references to the complaints about the rest of the industry) the elevator pitch for every timeshare/vacation ownership scheme ever.

> Unlike a timeshare, Ancana owners own a real asset (the property) versus a block of time.

Like literally every timeshare/vacation ownership scheme I’ve seen other than in places where there are legal constraints (like Mexico’s limits on foreign ownership of certain real property) that get in the way involves deeded fractional ownership of specific real property. This is, again, false differentiation.

The only thing somewhat novel here seems to ve the limitation to no less than eighth shares and the initial high-demand date guarantee (obviously the former being key to permitting the latter.)

Another real point of differentiation is that (at least from your pitch, and people that have these features tend to highlight them in their basic pitch) is you don't seem to have a relationship with a network of exchange properties besides the deeded property, which is great for people who want to spend 6+ weeks a year, every year, in the same vacation spot, but less so otherwise.

Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#13

Post by outside1234 »

Jorge1o1 wrote: post #8

What inspired you guys to go with such a long time window? Most of the timeshares I know are like 2 weeks out of the year, but here it looks like you get (for most properties) almost 3 months!! Do people really take 3 month vacations? And even if you broke it up into what seems like a more manageable vacation (something like a month max) that’s still 3 vacations a year! Also, are the prices on your site the entire pr…

It will be interesting to see what the remote first movement does to this. You could certainly see someone from Seattle spending 3 months in Mexico between Jan 1 and April 1 as a "working vacation"

Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#14

Post by rblack44 »

ghostly_s wrote: post #5

Why are you describing timeshares as if it's some sort of innovation?

I understand the confusion, but we are definitely not a timeshare. With Ancana you own real property, not a block of time. You have the flexibility to book stays throughout the year vs. annual bookings with timeshares. And if you ever want to sell your interest in an Ancana home, you can do so just like a normal home. If the property has increased in value, you capture that appreciation. With timeshares you are forced to sell your "time" back to the resort at highly discounted rates, not at market value.

Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#15

Post by devoutsalsa »

Jorge1o1 wrote: post #8

What inspired you guys to go with such a long time window? Most of the timeshares I know are like 2 weeks out of the year, but here it looks like you get (for most properties) almost 3 months!! Do people really take 3 month vacations? And even if you broke it up into what seems like a more manageable vacation (something like a month max) that’s still 3 vacations a year! Also, are the prices on your site the entire pr…

Digital nomads.

Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#16

Post by dragonwriter »

ghostly_s wrote: post #5

Why are you describing timeshares as if it's some sort of innovation?

That's how you sell timeshares, by describing your particular implementation as innovation, often by explicit misrepresentation of the existing ones or implicit misrepresentation of yours (describing others maintenance/management fees as expensive and/or hidden while you have and do not highlight your own fees of the same kind being a common example of the latter.)

Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#17

Post by hifriends »

My family owns 1/4 of a vacation house through an LLC. Some issues that come to mind are:

- Can an owner rent out their time? Who gets the rent money? How much is reserved for maintenance because renting will incur higher maintenance costs.

- What happens if one owner can’t carry their weight on taxes or insurance? Our house is beach house so insurance is ridiculous — we rent it out during the summer to cover it and use the house during the rest of the year.

- What if there are disagreements about how much to invest in the house for upgrades, maintenance, etc?

- Is there a system through which owners can buy or trade time with other owners?

- If you need to sell, how do you do that?

- What happens if one owner passes away and their share is now owned by multiple people?

Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#18

Post by rblack44 »

outside1234 wrote: post #10

How do you handle the situation where one owner refuses to make any investment in the property or doesn't pay for investments / costs?

This is a great question and we think one of the real advantages of our model. Because each co-owner owns an independent share of the home, they are protected if one of the other co-owners defaults on their payments. Ancana assumes responsibility in this case and if necessary we will take over the fraction and find another co-owner to purchase. The terms are laid out in the contract each co-owner signs

Re: Launch HN: Ancana (YC S21) – Fractional ownership of vacation homes

#19

Post by robertlagrant »

dragonwriter wrote: post #16
ghostly_s wrote: post #5

Why are you describing timeshares as if it's some sort of innovation?

That's how you sell timeshares, by describing your particular implementation as innovation, often by explicit misrepresentation of the existing ones or implicit misrepresentation of yours (describing others maintenance/management fees as expensive and/or hidden while you have and do not highlight your own fees of the same kind being a common example of the latter.)

I think it's unfair to critique by pattern matching. "What's wrong with this model" is what should be focused on.
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