141–150 of 161 posts
So, no presumption against the founders here, but what happens if Ancana folds in a few years? Each property’s trust still exists and everyone still owns their shares but they need to find a new manager for the trust? I have pretty much no knowledge of that industry - are there other companies ready to take over management of the property and allocation of dates in a situation like that?
Make it for digital nomads who are willing to pay a monthly fee to build equity on the properties. Offer not just vacation homes but homes that are big enough to have 6-10 people co-working and co-living. Instead of having 4 families splitting a house for 3 months, every participant has the right to live in the house or to rent it out. Create a market for them so that they can trade their shares. Make it easy for peo…
Someone's reinvented timeshares :) Reminds me of when I accidentally reinvented a recruitment company
I'd say we are streamlining the decades-old co-ownership model more than we are reinventing timeshares :)
Make it for digital nomads who are willing to pay a monthly fee to build equity on the properties. Offer not just vacation homes but homes that are big enough to have 6-10 people co-working and co-living. Instead of having 4 families splitting a house for 3 months, every participant has the right to live in the house or to rent it out. Create a market for them so that they can trade their shares. Make it easy for peo…
I was a digital nomad for 2 years. Just got back to SF a month ago. I don't think it's going to become a powerful market soon. It really wears you out.
Individually, yes, I agree that after a while most people will eventually settle down back in their home countries or a place more similar to their native culture.
However, imagine if such a system like a described existed and recent graduates from the US, Canada and Northern Europe went on to live 3-5 years in areas with a lower COL but at the same time allowed them to build equity on a home.
I would suggest looking closely at making shared ownership easier for friends and family, rather than a complex partnership of strangers. We know of people that would buy a vacation home together, but the purchase, management, maintenance and use scheduling is complicated enough to shelve the idea.
I have a buy sell where the partner that wants to exit names their price and the other partner decides if they want to buy the other share at that price or sell their own. And then the remaining party is free to find a new partner or put it on the market.
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…
I've always heard this is a great way to doom a friendship. Are you ever at odds with the other owners? I can imagine if you've planned your summer around a family vacation and the previous guest trashes the place (or breaks something making the place unusable) it could get ugly. Or worse yet, it is no pets and one owner starts bringing their dog.
Some of the issues that get people the angriest have been silly stuff. Like one person using more than their fair share of the storage shed, etc.
Earlier quoted context omitted.
It's hard to believe a timeshare can really compete with keeping the money and then spending it when you want at the resort or hotel you want to spend it at when you want to spend it. "Just say no" seems to be the answer for me.
One area we differ from a timeshare is an Ancana home is an investment in real estate. If the property increases in value, you capture the appreciation and if you decide to sell you make a profit.
Otherwise your best bet is just throw the money in a more liquid, synthetic vehicle like a REIT