In recent years, there have been many “game changers”in the world, defined by people or companies who are reinventing and revolutionizing long established beliefs and practices in certain industries. As an example,the introduction of automobile leasing changed how automobiles were acquired. Prior to the 1980’s, 100% of all automobile transactions were purchases. 100%! Today, nearly 40% of new automobile transactions are leased. A simple, yet great example of a "game changer”.
Another example is the introduction of ebooks versus going to the bookstore and buying a hard copy. Today, over 35% of books are downloaded to our devices, forever changing our behaviors. This too, can be called a “game changer”.
In the vacation home industry we believe our newest offering will become a game changer over the next 12 months. As was the case in the purchase of automobiles or published books, buyers yearn for a departure from the long established process that lacked imagination and innovation of any kind.
There is a similar discontent among buyers of vacation homes today as their choices are to own a second home in a destination they love is limited to buying your own home in that location, with all of the material economic obligations that come with that decision. The hassles that are inherent with owning a home hundreds of even thousands of miles away are substantial.
Another option is to purchase a fractional interest in a property or Private Residence Club ownership offered by the developer of a large project (usually around 50 identical residences) that provides the buyer with perhaps 5 or 6 weeks of access to the fractional residence at a fraction of the cost to buy it outright.
In both these options, the decisions are fraught with risks and/or weaknesses to the underlying model, including massive developer markups, loss on your investment when you want to sell, and the colossal headaches associated with trying to resell your fractional interest down the road in an industry that is solely focused on the buying and selling of whole ownership.
People are looking for a ‘new way’ to own a second home and Lifestyle Asset Group, the recognized leader in vacation home ownership innovation, is offering our version of a “game changer”.
In summary: The Single Destination LLC is a micro version of a ‘fractional-like’ product but the similarities stop there. Only 8 shares are offered in a newly formed Limited Liability Company (LLC) and that LLC acquires a fabulous vacation property in a beloved destination, paying all cash at the closing. The shareholders own 12.5% of this very custom home, cherry picked for the LLC, and incur just 12.5% of the annual costs. Each shareholder enjoys a minimum of 35 nights in the destination they and their family love the most and Lifestyle Asset Group manages the hundreds moving parts associated with vacation home ownership on a 7x24 basis, ensuring that shareholders spend every moment “on vacation” when at the residence and not roaming the aisles of Home Depot on a beautiful weekend afternoon.
The idea for this renaissance came from two undeniable realities present in the vacation home sector:
- The average use of a vacation home by its owners is just over 30 days per year. But they incur 100% of the costs.
- The Fractional and Private Residence Club industry, though solving the issue of 30 days of use only, is haunted by the inability for owners of fractional interests to resale their asset at a later date, often receiving just 35% of their original investment, IF they can sell it all. For many, this is non starter.
Lifestyle Asset Group’s Single Destination Offering solves both matters mentioned above. The 8 shareholders of the LLC contribute 12.5% of the capital needed to acquire the home in all cash and in doing so, enjoy at least 35 nights per year in their most beloved vacation destination. And in regards to the painful experience featured in #2 above, the term of the LLC is 8 years at which time the residence is sold at its highest possible value where shareholders not only receive their original capital back but share equally in 12.5% of increases in the value of the real estate.
Shares are offered under Rule 506(c) of the Securities Act, ensuring this offering meets the regulatory requirements for an investment of this nature but eliminates the need to be attentive to the many onerous and expensive fractional requirements that would fall under any given state’s Real Estate Commission. This is the same process for shares offered under Lifestyle Asset Group’s flagship product called LifestyleOne, LLC, where shareholders own and enjoy a collection of vacation home assets across North America.
Currently, shares in the Single Destination LLC are being offered in the Gulf Coast community known best at 30A that include beach towns such as WaterColor, WaterSound and Rosemary Beach.
Following Lifestyle 30A, LLC (the name of this offering), will come Lifestyle Lake Tahoe, LLC, Lifestyle Miami, LLC, Lifestyle NapaValley, LLC, Lifestyle Los Cabos, LLC, Lifestyle Hawaii, LLC, Lifestyle OuterBanks, LLC and Lifestyle Cape Cod, LLC. Behind those 8 popular destinations are additional offerings in Grand Cayman, Carmel, La Quinta, CA, Turks and Caicos, Chicago and NYC.
This is the new way to own a vacation property in your favorite destination. It is sensible, smart and affordable. It is a “game changer”.
Update: All 8 shares in 30A, LLC have been sold! New Single Destination LLCs coming soon.
Questions? Contact Karla Jones at 800-318-6966 or email firstname.lastname@example.org