COLORADO — Kauai real estate executive Chad Pimentel is helping grow the state’s luxury second home market and has recently joined the Lifestyle Asset Group as a joint venture Partner, Hawaii.
Lifestyle Asset Group creates exclusive real estate partnerships for families to affordably own luxurious second homes in exceptional destinations. Through an LLC structure, Lifestyle Asset Group assembles a small group of member/investors who share equally in the purchase costs and operating costs, providing the opportunity to own and enjoy a multi-million-dollar home.
Each LLC has a defined exit strategy in 6 to 8 years, wherein the property is sold, the initial capital investment capital is returned, and appreciation shared. Lifestyle Asset Group has 85 shareholders and more than $70 million in assets currently being offered from Maui to Aspen to St. John USVI and other luxury vacation destinations throughout the United States and the Caribbean.
“I’m excited about the innovative business model that Lifestyle Asset Group has developed and used successfully for five years,” Pimentel said. “It’s the perfect solution for buyers who want to own a luxury vacation home in Hawaii but will likely use it for a limited amount of time each year.”
He said the ability to share in the acquisition and operating costs is very appealing, and it is also a great option for sellers who wish to retain an ownership stake in their home, or have been unable to attract the solo buyer in a traditional sale.
“The exit strategy in place is huge for buyers. They know when they will get their initial investment returned, plus their share of appreciation,” he said.
Since 2013 Lifestyle Asset Group has created exclusive real estate partnerships for families to affordably own distinctive properties in exceptional destinations and cherish transcendent experiences together.
Richard Keith, co-founder and Senior Partner said bringing Pimentel on board at Lifestyle Asset Group is a move that compliments the group.
“He understands and appreciates our vision in bringing a smart and sensible second home partnership model to the Hawaiian Islands, a destination which may well present the highest potential for our offering in the entire world. He is liked and trusted by all and we are very fortunate to have him as a joint venture partner,” Keith said.
Pimentel’s extensive sales and investment experience in both securities and real estate position him to lead Lifestyle Asset Group’s continued expansion into Hawaii’s luxury second home market. Lifestyle Asset Group is a rapidly growing innovative industry disruptor of luxury second home ownership.
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Nothing more than a glorified time share whose end game will be a disaster for many! How do these Real Estate brokers/sharks make their money? What are the fees to the so called owners? Who is the Manager of the LLC? Who is the manager of the property and who oversees the fees for cleaning/repairing etc.? What happens when the market turns down and the values deflate? Be careful! This is wrought with a “time share” opportunity mentality for stupid money!
Greed