Yes, the trust remains in place and the legal rights of all the owners are unaffected. The co-owners can simply find another property management company. Even in the event Ancana is still in business but the co-owners are unhappy with our service for whatever reason, they can vote to drop Ancana and hire another company of their choosing
Yes! We have started focusing on areas that appeal the most to US buyers (Cabo, Tulum, Puerto Vallarta, etc). Most of our marketing to date has been geared towards the Mexico market but we are starting to reach out to US buyers as well!
Really love this idea. We started Ancana to make this opportunity available to everyone, even if they didn't have a group of people they knew who wanted to co-own a home. But there is absolutely room to tailor a product for people who already have a group and just don't want to deal with the overhead of setting up the fractional model and ongoing maintenance. We're going to look into this, thank you for the feedback!
Curious why you think this is awful. The order rotates each year so for a home sold in 1/4 fractions, every owner would get 1st choice once in a 4 year period. Then it starts over again. All buyers pay the same rate, the priority selection rewards people who buy first, it's a benefit for moving fast.
We are contemplating a snake draft system if we decide to allow people to schedule more than 1 priority date each year. So if you go last on your 1st choice, you'd get 1st pick on your 2nd choice. Does that seem more fair from your perspective?
A lottery is an interesting concept, but it's only really equitable over a long time horizon. What if I got a bad luck fo the draw 3 years in a row? Scheduling is hard, and we are constantly looking for ways to improve so we really appreciate the feedback!
Is there any pre-draft conversation between owners or is it all an arms-length thing where each owner just starts seeing dates disappear on the calendar in Ancana?
Seems like with a good group of co-owners who understand each other’s intentions, they might plan around each other somewhat for mutually agreeable outcomes. E.g. if Owner 1 just wants a lot of time in the place in shoulder seasons for mild weather but Owner 2 specifically wants certain fall dates for an anniversary, the first owner could (inadvertently) screw the second owner if that wasn’t communicated.
Love the creativity! Fortunately (or maybe unfortunately from your perspective), Ancana creates the LLC for each home so people can't game the system. We do allow people to buy more than 1 share of any home, so that would get you access to additional dates.
In terms of rentals, we 100% agree. Some of our rentals are in communities that have their own short-term rental rules. But in other properties we let the co-owners decide if they'd like to allow rental of the property when it's not in use. In this case the rental income could defray the monthly costs or go straight to the owners.
There is a sublte but important difference between how you can book time in an Ancana home vs. a timeshare. With Ancana you have the flexibility to book stays throughout the year, anywhere from 2 days to 1 year in advance. With timeshares you are typically locked into a block of time and oftentimes the same dates year after year. But this is great feedback on how we can further differentiate ourselves, thanks!
Love some of these ideas! We are getting a lot of interest from digital nomads looking at this not just as an investment in a vacation home, but as a remote office for a few months a year. We are looking at how we can better serve that market, would love to chat as it seems like you've been thinking about this for a bit. Shoot me an email ([email protected]).
Many of the homes are big enough spaces to use for coworking, but not always ideally furnished as such. It could be interesting to tailor some homes for this exact use case. Interesting.
The rental rules depend on the property. Some of our homes are in communities with rules governing short term rentals. For the others, we leave it up to the owners to decide as a group whether to allow renting the home when not in use.
We definitely see an opportunity for people to trade time in different homes. With the affordability of many of our properties, we think some people will buy shares in a few homes and bounce around. Anyway, would love to get in touch and pick your brain
demand for this model of ownership is exploding. From a buyer's perspective there is no functional difference between the primary and secondary market. It is certainly more liquid than a timeshare and in most cases easier to sell than an entire home given the lower upfront and maintenance costs
We want people to use the home! Our goal in founding Ancana was to open up the vacation home market to more people. We see these homes as places to make lifelong memories with friends & family. A net benefit of our model is that your home is an investment - if you decide to sell and the property has increased in value, you capture that appreciation. There are other companies that make it possible to invest in a REIT-like vehicle, but that's not our focus :)
The fractional ownership model is taking off, look at Pacaso's success in the US. Just as there is strong demand for the primary sale, the secondary market will also likely see a a big uptick.
An owner is free to sell anytime after owning the property for a year. You can list this like any other real estate holding. We can also assist in the sale if you'd like to tap into our growing network of interested buyers
