Pacaso: Own a Luxury Second Home for Less

Owning a second home is a dream for many people, but cost is often a barrier. Beyond the financial hurdles, maintaining a second home from afar or renting it out to help pay the mortgage can be a burden.

Pacaso, launched in October 2020, is a real estate service that strives to change all that. Pacaso brings together buyers to coown a second home, and then provides ongoing management to simplify the experience.

“Pacaso exists to make second home ownership possible for a broader audience,” says CEO Austin Allison, who co-founded Pacaso after achieving his personal goal of owning a second home.

A recent Pacaso survey found that nearly half the people who wish to own a second home either can’t afford one or can’t justify the purchase of a home they’ll use infrequently. Pacaso enables buyers to purchase the amount of ownership they’ll actually use, starting at ⅛, and gain access to the luxury market at a price point they can afford. Unlike a timeshare, Pacaso’s offering is true real estate ownership of a single-family home, and resale is streamlined.

While co-ownership of real estate is nothing new, Pacaso simplifies the process and removes potential friction. “We create a property LLC for each home, find and vet co-owners, and handle all the sales details,” says Allison.

Pacaso offers a curated collection of turnkey homes in popular second home markets. For Los Angeles County buyers, a Pacaso could be just a short drive away.

The company has luxury properties in Palm Springs, up the coast in Malibu and throughout the state. Each home is outfitted with everything owners might need, and a design team selects high-end furnishings and custom artwork. Once the home has been sold, Pacaso transitions to a management role and handles bill payment, repairs and ongoing maintenance.

Owners schedule time in their home throughout the year using Pacaso’s app, which distributes reservations equitably according to ownership percentage.The company is rapidly adding , with plans to expand internationally.

Learn more at pacaso.com.