The Right Time For Today’s Market
(Fort Collins, CO) Lifestyle Asset Group presents two smart and sensible multi-million-dollar Cape Cod and Nantucket luxury vacation home ownership offerings at the right time for today’s market. These properties are easily accessible by car and brief ferry ride, especially important today.
During these challenging and uncharted times families can safely and securely enjoy creating lifetime memories in the controlled environment of a luxury vacation home they have an ownership interest in versus hotel or short-term rental used by many. This is not fractional real estate or timeshare ownership.
Since 2013, Lifestyle Asset Group has been the pioneer of an innovative ownership model where a small group of like-minded investors owns, debt-free, a luxury second home with each investor only paying their share of the purchase and ownership costs.
Lifestyle Asset Group’s real estate partnership offerings (through exclusive LLCs) bring like-minded partners together to collectively own magical vacation homes for the fraction of what it would cost to own it outright. For example, in the Cape Cod offering an investor can purchase 4 weeks per year with one week in May, 2 weeks in July, and one week in August. With a $515,000 contribution, the investor receives 16.45% equity ownership.
David Drescher of Des Moines was the first buyer in the brand new $2.6 million-dollar waterfront Cape Cod property in beautiful Chatham. “My wife and I have a long history with Chatham and the Cape. We’ve rented there for years since it wasn’t practical to own a home there while living in the Midwest. When I saw the opportunity Lifestyle Asset Group offered, we became very interested. I researched the unique structure and understood how well it worked.” Drescher purchased a one-sixth interest which gives him a total of two dedicated weeks in July and September.
“What appealed to us was we could purchase the weeks we wanted. In addition, having local professional property management was important,” explains Drescher. “The seven to eight-year exit strategy also made sense for us with probability to get capital back.” Having the flexibility to exchange their weeks for other Lifestyle Asset Group properties and the international Elite Alliance vacation home network also held strong appeal.
Todd Machnik, co-owner of Today Realty a long-time Cape Cod brokerage weighs in. “The Lifestyle Asset Group ownership model makes perfect sense for our high-end properties. Being able to invest in the specific weeks you want and share maintenance and operating expenses works perfectly for a luxury vacation home. Not having to pay for the entire home plus annual costs appeals to our buyers,” Machnik explains.
Sellers of luxury vacation homes can also benefit from the Lifestyle Asset Group model. “To the reluctant seller, we provide a solution that was previously not available. The owner can now retain an equity interest in their beloved home instead of selling it, have us bring in partners, and no longer be burdened with 100% of the home maintenance and expenses,” explains Richard Keith, Sr. Partner at Lifestyle Asset Group.
The seller retaining an ownership percentage is the plan for the Martha’s Vineyard property located in Aquinnah, (formerly Gay Head) an exclusive area where Jackie Onassis once owned an estate. The 4,000 square foot water view home’s five-star pedigree includes Holmes Hole Builders of Martha’s Vineyard and the New York-based architectural firm of Kureck|Jones.
This allows an investor to own an equity percentage in a $6 million property for as little as $450,000. “Most families are very busy and no longer have the time to spend ten weeks on the Vineyard,” notes Mark Jenkins, a broker at Wallace & Co. Sotheby’s International Realty.
“Two weeks is perfect for them which is why this form of ownership is so desirable.” The seller was impressed by the innovation of the business model. He loves the house and is retaining a percentage ownership,” Jenkins adds.
Each Lifestyle Asset Group LLC has a defined exit strategy, so all partners know exactly how they are getting their investment back, and when. After approximately seven to eight years from the initial closing, the property is sold, the initial capital investment capital is returned, and appreciation shared. Lifestyle Asset Group has assets currently being offered from Maui to Los Cabos, Mexico to St. John USVI and other luxury vacation destinations throughout the United States, including drive-to destinations like Aspen, CO.
About Lifestyle Asset Group
Since 2013 Lifestyle Asset Group has created exclusive real estate partnerships for families to affordably own distinctive properties in exceptional destinations and cherish transcendent experiences together. Lifestyle Asset Group currently has 85 shareholders and more than $90 million in assets currently being offered. https://www.lifestyleassetgroup.com/
