Pacaso Raise's 124 Million Dollars!?!?!
Is it snake oil? Pacaso says it is not a time share company. It tells its clients that they have REAL ownership in their properties. An eighth of real ownership but you own it. Yes you own it with seven other people you don't know. Those people can change at anytime and you have little to no control over it.
A home is a home because it is yours, you own it. You are safe inside its walls and you can not be forced to leave. If you can't stay one more day because the Simpsons are coming to town, or if you cant use it for your wedding anniversary or Thanksgiving because you didn't book that time quick enough, well then its a timeshare. I understand the legal difference that Pacaso worked out, but to me its timeshare.
Well Pacaso raised 124 million in C round funding so somebody believes in it. So ion 2021 will timeshares be the next big thing, or is this like so many other Real Estate trends that crash before they really get started. I remember a few start up Real Estate auction companies that raised millions and never auctioned anything.