Hello, my name is Eric Packer.
I joined Lifestyle Asset Group in Aug 2019, after spending over twenty years managing a small fee-based investment firm in Wellesley, MA that also offered financial planning services to our clients.
Occasionally clients asked if it was a good idea to buy a second home in their favorite vacation community. The question I always asked was how many weeks a year they and their extended family would realistically use this vacation home. The answer was always “maybe two to three weeks a year.”After reviewing with them all the benefits and the responsibilities/hassles, they typically decided to not buy a second home and would continue to rent every summer a luxury private home in their favorite vacation community instead.
We had a small office in Vineyard Haven, Martha’s Vineyard in a suite of offices that included a real estate firm. We would talk with the agents about the number of multi-million dollar luxury vacation homes that were on the market for years and for the seller to cover costs, they would rent the home for $10,000 to $20,000 a week.
We thought of the idea of bringing together a small group of investor/owners to collectively buy one of these homes, sharing the expenses while having several weeks a year to use and have it professionally managed. In our research, we learned about Lifestyle Asset Group, who since 2013 have been offering this mode lof shared ownership and usage and decided to not reinvent the wheel but to join them as a JV Partner.
In our research, we learned about Lifestyle Asset Group, who since 2013 have been offering this model
of shared ownership and usage and decided to not reinvent the wheel but to join them as a JV Partner.
