Second Home Co-Ownership Market Goes Mainstream with Austin Allison, CEO of Pacaso
The idea of co-ownership in real estate is not a new idea. But simplifying co-ownership with many of the legal structure, property management, and logistics headaches solved for—all while making co-ownership opportunities available across the United States and Europe—well, that's new. Oh and did I mention the issues with getting financing—yeh, they're solving that too. You've probably heard of the startup working to make it all possible. It's called Pacaso.
This is an insights-jammed interview with Pacaso Co-founder and CEO, Austin Allison. Austin's leadership has helped Pacaso scale from 30 employees to 300 employees in about a year's time. To date, Pacaso has raised $221 million in equity. Additionally Crunchbase reports Pacaso has raised an additional $1.250 billion in debt financing. Austin's previous proptech and industry experience and expert knowledge shines through as he sheds light on how Pacaso has grown so quickly. We talk about the number of markets Pacaso is in, expansion goals, and something known as "Pacaso Worthy". You'll hear how Pacaso is focusing on customer experience, applying tech to manage logistics, partnering with real estate agents, and scaling operations.
More about Pacaso and Austin Allison
Pacaso is a technology-enabled marketplace that modernizes real estate co-ownership to make owning a second home possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso is the fastest company to reach Unicorn status and now operates in more than 30 top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.
Austin co-founded Pacaso to make the dream of second home ownership a reality for more people after experiencing the profound effect it had on his own life. In 2009, he founded dotloop in his hometown of Cincinnati, a company that created software to seamlessly manage real estate transactions. Zillow acquired dotloop in 2015, and Austin continued to run dotloop as a Zillow executive until 2018.