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Who can benefit from Real Estate Joint Ownership? March 19, 2010

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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Hello real estate investors and professionals

First and foremost the Joint Ownership model allows the average family or investor the opportunity to participate in purchasing a vacation or investment property.   www.azjointownership.com

Families can now benefit from the depressed real estate prices in the US and sunbelt locations such as Arizona, Florida, Nevada, California and other user friendly warm weather states.

Predictions 2010: Real Estate

Other obvious people or groups that can benefit from working with a Joint Owner model are parties attached to the vacation home property market, this would include; real estate agents, teams and brokerages, individuals, lenders, developers, and investors to name a few.

As an example, the net worth of a median Canadian household in 2005 was $148,400 with only 3% or 415,000 of Canada’s 13 million households could be classified as high net worth in 2005.

Therefore 12,500,000 potential vacation home purchasers or the 95% of the possible vacation home buyer market cannot purchase a vacation or second property by themselves! That is just the Canadian vacation home buyer market!

AZ Joint Ownership, LLC, works with all the above interested parties enabling purchasers to leverage their capital and also creating the opportunity for the real estate service industry to increase their sales by providing Joint Ownership packages, mentoring and consulting for their clients.

We have developed an in-depth Joint Ownership investment and acquisition model that allows prospective buyers to finally move forward on their desire to buy an investment or vacation home while the current real estate market opportunity exists.

What is vacation home & real estate joint ownership?

Joint ownership is a partnership in the ownership of (Title To & Equity In) a house. 
This is NOT time share or fractional ownership……

Typically the ownership is split between multiple vacation home investors, with the each investor/partner having equal shares or some combination of interest in the real estate investment.

As with other shared-equity plans, the idea behind vacation home joint ownership is that it is a way for people to own vacation or investment real estate properties who otherwise would be unable to purchase a property without taking on a large mortgage or incurring substantial debt.

Why Joint Ownership?

Although most people understand the responsibility that is included with larger purchases of a secondary residence or vacation home, there are some people who find they would not use the asset on a full time basis. For those people who are looking to find value in simplifying certain aspects of their lives, Joint Ownership will provide ownership & use of an asset while reducing the responsibility of management and cost of ownership. Benefits of Joint Ownership include ease of convenience, hassle free ownership, and cost savings.

The key to any Joint Ownership arrangement is to have everything in writing, even if you intend to partner with family or ‘best’ friends, the proper agreements puts everything up front in writing so there are no issues or misunderstandings later on after the honey moon period of purchasing a vacation home.

Things like cleaning after use, repairs for broken items, usage, third party usage, smoking rules, pet rules and consequences, usage calendars, book keeping, etc. all have to be documented and signed off by the partners. These docs can even be registered on title if need be.

We have spent 3 years creating and refining the model, agreements and templates and this is what we offer in our Turn Key package.

If anyone would like more information on creating a Joint Ownership group to purchase a vacation property or would like to partner with us to increase your real estate sales please contact us.

Happy house hunting!

Michael Kuhbock
Email: mkuhbock@azjointownership.com

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