Very interesting idea, Caleb and team. Having worked closely with Dan on several project in the past, I have confidence this is a well-vetted thought.
My question is this though: if this is functionally distinct from a timeshare, how much liquidity can I reasonably expect in the event that I want to sell? Must I sell to other members, and if so, will I be in direct competition with the core business to fill new developments?
In other words, would I be "stuck" holding on to the deed past a time where I might ideally want to. What are your thoughts around this, and how do you mitigate that concern for buyers like myself?
Thank you!
Patrick
p.s. Great site - to the point, and exactly the information I was looking!
Hi @pahenn, thanks for the great question!
Timeshares are lifetime leases with varying levels of legal clauses making them difficult to sell. Unlike timeshares, fractional ownership is as real as can be. Owners have control to buy, sell, make decisions, etc.
When it's time to sell you'll have a dedicated team at Worldhaus marketing your property to the community that has recently surpassed 300 interested buyers. We're rolling out marketing partnerships and paid marketing in the coming weeks which will dramatically increase the audience.
Commissions from resales and original sales are both central to our business model so there won't be a reason we would ignore a resale seller.
The final, and perhaps most important, resale risk mitigation is the fact that we rent the property by default. While the sale is ongoing you will be receiving rental income checks.
Worldhaus seems like a great solution for Airbnb problems when nomading! The idea of owning a share of a property while being able to live there for part of the year is very exciting and will make my travels more comfortable.
There's a stellar team behind Worldhaus, one that will bring this concept to the greater global digital nomad audience. I'm a fan of businesses that take what would normally be an expense, and turn it into an investment. Looking forward to watching these guys continue to progress!
Just upvoted! I had the pleasure of meeting Caleb at a WeWork in Boston a few months back. He's a really sharp guy, and his vision for the company is awesome - I'm super excited to see where this goes.
@caleb_wursten1 - one question - is there a reason to market this only to digital nomads? As we tell people about it, what are your talking points for why it isn't like a timeshare?
Hi @fran_rogers awesome questions.
Marketing to digital nomads – Since your question we broadened the messaging given many of the folks reaching out don't identify as digital nomads. We're still focusing our sales channels on this audience given the disproportionate pain points they experience as full time short-term renters.
Timeshares – We also added a "Not a timeshare" interactive to the landing page to address this concern. Unlike a timeshare, which is a lifetime lease, fractional ownership is true ownership. Owners have all of the control you would expect with real estate ownership.
I'm having a "I should have thought of that moment" As someone who's been a DN for 8+ years I wish I had this when I started. But hey here we are today. Go Caleb!!
Excellent question @Worldhaus! I have no idea what the most underrated remote work destination is - please share!
Congratulations on your product launch - you are helping so many digital nomads stay productive and happy, everywhere they glow - cheers!
