Let’s talk about Astoria, Oregon - a place where outdoor enthusiasts, retirees, and families are buying homes in a coastal community setting. Fun fact: The city was named after John Jacob
All About Fractionals
Dated: May 28 2020
Are you looking to increase profit for a family vacation? Are you one of the many who are looking to revamp the modern-day vacation? Are you one of those individuals who take frequent holidays every year? If all your answers to these questions are YES, then you need to know the more about fractional ownership.
So this is how it works. Fractional ownership is a type of ownership of a vacation home or apartment or a resort development shared among friends or family similar to splitting the purchase price of property among friends while keeping the benefits equally. This is managed by a real estate development, and a realtor can be a single entity such as an individual seller or prospective buyer/s. Arrangements between each owner are made based on the allocated usage based on the timetable. The properties involved in the fractional ownership can either be located at the coasts, your preferred golf course, or anywhere where tourists mostly flock. These properties can either be luxury homes, townhomes, cabins, or cozy condo.
Fractional ownership is far better than Timeshare in so many ways. With fractional ownership, a portion of the property is owned by you which gives you a better chance when the property appreciates and a longer number of weeks’ to stay every year with full use of available facilities and other perks. In business, part-owner pays the monthly or annual dues and in return, they will receive a percentage share or more commonly known as the fractional interest of the asset from the management.
Getting ready to start?
Talk to a fractional expert.
Determine the type of fractional ownership you would like to own.
Deciding on your purpose.
Make sure you have a legal entity set up.
Consider the location of the property.
Check if the property is a good value for your money.
After thorough research, make certain that the company or the individual you are investing from, has an established reputation for your security.
Check if the program for a rental is in order and if it can get you an income.
Will you regain the lost vacation time during this pandemic? Possibly with Fractional Ownership.
Read more of our informative blog posts, we add new articles about real estate on the Oregon Coast every week.
Meet Taj Richardson: I have lived on the Oregon Coast since 1994. I graduated from Nestucca High School in 1996. After several years in college and traveling, I made my way to Lincoln City in 2003. I ....
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