Talk of The Villages Florida
Page 2 of 4 1 2 3 4
Show 40 post(s) from this thread on one page

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   Investment Talk (https://www.talkofthevillages.com/forums/investment-talk-158/)
-   -   Fractional Share Partner to purchase 2nd home in The Villages (https://www.talkofthevillages.com/forums/investment-talk-158/fractional-share-partner-purchase-2nd-home-villages-314604/)

Iowabuddy 01-03-2021 12:47 PM
Thank you for your perspective. Fractional ownership can encompass anywhere from 2 to 100's of owners. We are seeking 2 (maybe 3) owners total with no AIRBNB rights. We are seeking a partner(s) that takes care of their dwelling and is a good fit for the Villages.

Iowabuddy 01-03-2021 12:53 PM
Not a timeshare
 
Quote:
Originally Posted by retiredguy123 (Post 1881670)
Exactly, and most people know that there is nothing perfect about timeshares.
Wikipedia describes fractional ownership as "Fractional ownership is a method in which several unrelated parties can share in, and mitigate the risk of, ownership of a high-value tangible asset, usually a jet, yacht or piece of resort real estate"

Think aircraft fractional ownership, not timeshare fractional ownership.

CoachKandSportsguy 01-03-2021 12:55 PM
We have friends who did a 50-50 split on a ski condo in NH for 20 years and they use it as well as rent it out. It’s 100% about compatibility / cooperation between parties.

Of course it’s not for everyone as you can read here as most retirees on here are highly risk adverse.

Iowabuddy 01-03-2021 01:00 PM
Most larger private aircraft are owned in fractional ownership situations. (NetJets, Wheels Up, Flex Jet, etc..). Most celebrities own only a fractional share of the aircraft they fly in. It works because the owners are vetted and there is a contract between the owners.

There are people out there that want a second home in The Villages that don't desire to pay for the entire home. Hopefully, this post finds those people and not the naysayers that say this won't work.

eweissenbach 01-03-2021 01:35 PM
Quote:
Originally Posted by Iowabuddy (Post 1881838)
Thank you for your perspective. Fractional ownership can encompass anywhere from 2 to 100's of owners. We are seeking 2 (maybe 3) owners total with no AIRBNB rights. We are seeking a partner(s) that takes care of their dwelling and is a good fit for the Villages.
My understanding is that only up to four people, included on the title, can get resident passes.

tvbound 01-03-2021 04:12 PM
To the OP, have you considered getting a reverse mortgage on your current home, to help finance the purchase of a second home in TV for just yourself? :duck:

Fredman 01-03-2021 10:21 PM
To sum up most of the posts this is a bad idea on too many levels.

manaboutown 01-03-2021 10:31 PM
One thing is for certain and I speak from experience there is absolutely no way I would partner on a house in TV with someone I had not known for years and got along with well. Even in that situation things can unexpectedly go south. If I could not afford to own a second home on my own I would rent.

tsmall22204 01-04-2021 06:09 AM
Bad, bad, bad idea. Too many problems would arise. If you can't afford to live here, don't come here.

airdale2 01-04-2021 06:22 AM
Murphy's law is waiting just over the hill, would you consider a mail order bride? If not its a big NO

Joanne19335 01-04-2021 06:59 AM
Quote:
Originally Posted by Bogie Shooter (Post 1881672)
Can of worms.
I would definitely consult with an attorney. There has to be a contract between the parties as to who is responsible for the upkeep, utilities, deed restrictions, etc. This type of an arrangement makes me nervous. Friends may end up enemies which is the least of your worries. To be honest, I would not do it.

Girlcopper 01-04-2021 07:18 AM
Quote:
Originally Posted by retiredguy123 (Post 1881788)
This idea has so many potential problems, they are difficult to count. Suppose someone, who owns half of the house, decides to use the house as an Air BNB hotel and rent it out on a nightly basis, or rents out individual rooms? Or, decides to sell their half in weekly increments like a typical timeshare? How do you get homeowners insurance for the house? What recourse do you have if the person who owns half of the house refuses to pay the ongoing expenses? Who is responsible for deed restriction violations?
Of course. Thats why you need a legal iron clad contract. All the things you named are common sense.

G.R.I.T.S. 01-04-2021 07:42 AM
Quote:
Originally Posted by Iowabuddy (Post 1881629)
We live in the Orlando are and are seeking one (1) 50% or Two (2) 33% partners to purchase a vacation home in The Villages. Also open to current home owners willing sell a % of their current home.

Fractional ownership is perfect for snowbirds or anyone seeking a second home who doesn’t want to purchase the entire home as they will not utilize it full time. We would agree on usage, with each partner responsible for their share of the cost of the home. We are flexible to the days we would utilize the home, are responsible, clean and pet friendly.

What a perfect way to purchase a home that you’ll not utilize full time! We still work full time in the Orlando are and are desiring a second home we could utilize in The Villages.
We have stayed in one of those properties in Orlando. Neighbors (renters) next door were nightmares. Would be shameful if the villages became like that.

Marathon Man 01-04-2021 08:04 AM
Quote:
Originally Posted by Iowabuddy (Post 1881629)
We live in the Orlando are and are seeking one (1) 50% or Two (2) 33% partners to purchase a vacation home in The Villages. Also open to current home owners willing sell a % of their current home.

Fractional ownership is perfect for snowbirds or anyone seeking a second home who doesn’t want to purchase the entire home as they will not utilize it full time. We would agree on usage, with each partner responsible for their share of the cost of the home. We are flexible to the days we would utilize the home, are responsible, clean and pet friendly.

What a perfect way to purchase a home that you’ll not utilize full time! We still work full time in the Orlando are and are desiring a second home we could utilize in The Villages.
Sorry, but this struck me as strange. Plus, the only posts are looking for money investment. Instincts tell me "hard no".

DIver0258 01-04-2021 08:06 AM
Doesn’t add up.
 
Quote:
Originally Posted by Iowabuddy (Post 1881629)
We live in the Orlando are and are seeking one (1) 50% or Two (2) 33% partners to purchase a vacation home in The Villages. Also open to current home owners willing sell a % of their current home.

Fractional ownership is perfect for snowbirds or anyone seeking a second home who doesn’t want to purchase the entire home as they will not utilize it full time. We would agree on usage, with each partner responsible for their share of the cost of the home. We are flexible to the days we would utilize the home, are responsible, clean and pet friendly.

What a perfect way to purchase a home that you’ll not utilize full time! We still work full time in the Orlando are and are desiring a second home we could utilize in The Villages.
Maybe I’m missing something here 50% + 33% + 33%= 116%. Are we seeking to make a profit, how do you equitably divide the year? In my opinion a problematic situation for all involved.:boxing2::boxing2::boxing2::MOJE_whot::oh dear::throwtomatoes:


All times are GMT -5. The time now is 05:47 AM.
Page 2 of 4 1 2 3 4
Show 40 post(s) from this thread on one page

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
Search Engine Optimisation provided by DragonByte SEO v2.0.32 (Pro) - vBulletin Mods & Addons Copyright © 2025 DragonByte Technologies Ltd.