PacasoReviews of pacaso.com

Our family was looking into a vacation property. We didn't need or want a 365 home. What we did want is a large really nice home in a location that allowed us to lure friends and family to gather. We didn't want the obligations associated with second homes either, such as management, upkeep, bills etc. Pacaso offered exactly that

My wife and I had many questions while we were considering a Pacaso second home investment: financing, scheduling, LLC particulars and community acceptance. The staff were very very friendly, responsive and forthcoming in fielding all of our questions/concerns. We were intrigued by the home ownership model and ultimately decided to make an investment in a Malibu beach home. So glad we did! The property is even more beautiful in person: tastefully decorated and well appointed in terms of in-home amenities. We are very happy with our purchase, and we may consider an additional Pacaso investment in the future.

Great first experience thank you so much

We have been extremely impressed with Pacaso so far! The staff is exceptional.

UPDATE: Over 2 months after Pacaso said they would contact me to discuss my issue - still nothing. Of course, didn’t expect them to do anything. Seller beware. —————/ I had the most terrible experience trying to sell my home to Pacaso and I would like to warn other owners to think carefully before you consider selling through Pacaso. I wanted to sell my second home through Pacaso because I thought I could command a higher sale price (given there are 7 other shared owners) and the idea of Pacaso revamping the place with new furniture sounded appealing. However, I had poor experience with Pacaso and it’s structure as we got deeper and deeper into the deal. First, Pacaso makes each seller retain at least one share of the 8 shares in the property when it is sold. As an owner, it is quite a very costly transaction that does not really make economical sense. 1) You pay capital gains tax when you sell the property. 2) You are required to buy back 1 share at a big premium above the price you sold the property at (since it includes all the fees + furniture etc) 3) You then pay a monthly fee for holding your share (I calculated the 1/8 share monthly fee to be not too much lower than the fees I paid owning the property outright). Second, Pacaso changed critical terms in the purchase agreement the day of signing - they sent me an initial purchase agreement in the morning and when non-critical terms were amended later in the day, other CRITICAL term changes were suddenly snuck in without making me aware of these changes. This was shocking to me given we had been back and forth on those critical points for over a week prior. Read the contracts carefully and do not let down your guard when dealing with Pacaso, particularly Alex Levy, the acquisitions representative, whom I was a working with. Third, I lost significant rental revenue by pursuing a sale agreement with Pacaso. I wrote to Pacaso stating that a renter wanted to pay over $50,000 to rent my home for a couple months and I asked whether I should lock this in. Instead, they said I couldn’t delay the sale by that long and that they wanted to complete the purchase. 2 days after we SIGNED the sale agreement, Pacaso’s leadership team cancelled the deal (the day before the 3% deposit was to be transferred!). Yes, they cancelled a SIGNED purchase agreement after we spent 6+ weeks negotiating and after they asked me to forgo the $50,000 in rental income. I just could not believe they would do this and they told me I had no right to any lost income or to the deposit or any compensation, since the deposit was not yet transferred. I felt extremely taken advantage of and was given the run around for 6+ weeks. It was an emotional rollercoaster dealing with Pacaso and I would not recommend pursuing a deal with them unless you are a very desperate seller. After Pacaso pulled the plug on our signed deal, I felt disheartened. However, the week later, I decided to see what would happen if I put the property on the open market. Fortunately, I was able to sell the property for over 25% more than Pacaso signed to purchase it for. My assumption that I could get a higher price from Pacaso was wrong. All in all, it turned out to be a blessing in disguise that Pacaso broke up our marriage on the eve of our wedding date. I’m writing this review because I did hours of research on Pacaso and could not find many seller reviews, except the one on their website, which sounded very appealing. I’m hoping my review can help prepare other sellers who may consider dealing with Pacaso.

If it wouldn’t have been for Shea

There was a MIX UP ON PACASO'S PART WHEN BOOKING MY FIRST STAY. IT WAS HANDLED AFTER ME MAKING A BIG SCENE BUT WITHOUT MUCH APOLOGY OR COMMUNICATION. I FELT LIKE THERE WAS NO ONE WHO WAS REALLY IN CHARGE OF THEIR ERROR. Otherwise, everything and everyone was lovely.

There was a lot of overpromise when they were selling us and a very poor delivery. Thing promissed from occupation dates canceled twice and still not ready without a final date, we were promised also to be part of decoration and furnished, didnt happen either, were trying to install bigger bins for storage, didnt happen either and so on….