COMPANY SPOTLIGHT
PACASO
Pacaso co-founders Spencer Rascoff (left) and Austin Allison. Spencer is co-founder and former CEO of Zillow; Austin is founder of dotloop and former Zillow executive.
Company Spotlight: Pacaso INNOVATING SECOND-HOME OWNERSHIP
acaso launched last October to offer people a modern way to
and experience true but hassle-free homeownership. The company brings together and organizes the ownership group; man - ages the legal and financing process; provides the tech tools so owners can easily and equitably schedule time; and manages the home itself. Pacaso homes are owned in an LLC. Many people own second homes with friends. However, DIY LLC ownership—which has been around for decades—is a headache to set up and a hassle to manage, especially when personal relation - ships are involved. Pacaso’s ful - ly managed LLC co-ownership is a technology-enabled real estate ownership solution that removes the interpersonal stress and operational hassle of going at it alone. The mission of Pacaso is to, over time, democratize second home
ownership, a luxury to which mil - lions of Americans aspire but which seemed previously inaccessible, and is more important than ever as peo - ple seek safety, security and seren - ity amid Covid. Co-ownership helps buyers increase their buying power and shop for homes that would be otherwise out of their price range. Pacaso and its real estate agent partners help buyers find the perfect home and set up a professionally managed LLC uniquely designed for co-ownership with integrated financ - ing. Owners can sell in a streamlined way through Pacaso’s marketplace and our network of real estate agent partners without having to build con - sensus among all owners. So far, Pacaso has helped families buy shares of homes in markets like Tahoe, Park City, Palm Springs, and Hilton Head. •
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buy and own a second home. Dotloop co-founder Austin Allison and Zillow co-founder and former CEO Spencer Rascoff started the company, which announced $17 million in Series A financing late last year. Pacaso modernizes the genera - tions-old practice of co-owning a second home, creating a market - place that makes buying and selling easy, and adding professional man- agement and technology to make scheduling dates and owning the home seamless and simple. There are 30 million second homes in the U.S. and Europe that sit unoccu - pied 10 or 11 months of the year, and millions of people who dream of second homes. Pacaso creates a marketplace around this, allow - ing people to buy shares of a home,
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