HOW DOES IT WORK?
My 5 Homes is the EASY way to own and enjoy luxury vacation homes
Co-own 1 luxury vacation home with preferred access to 4 other homes
Book your favorite week every year in your Primary Vacation Home
Book up to 12 weeks each year, right on your mobile app
My 5 Homes handles all maintenance and upkeep
in these home?
GET YOUR MOST IMPORTANT QUESTIONS
Yes! As an owner in a My 5 Homeset, you own your proportionate share of an LLC that will wholly own 5 distinct properties. That means it's just like any other asset in your investment portfolio.
There are many ways to finance your purchase at interest rates as low as 1%. Your My 5 representative can walk you through all the details and connect you with a lender we trust.
Not sure the answer here.
No. It's MUCH easier! Because your'e buying an LLC, My 5 is responsible for all real estate acquisitions. Our expert real estate attorneys will review all of the contracts so you have none of the hassles and headaches that come with typical closings.
Easy. Once you're officially an owner, we'll schedule an Introductory Call where we'll open the home calendars to you. You can begin booking reservations online, over the phone, and soon through a mobile app.
Owners may make up to 12 weeks of advanced reservations for each of the next 2 years.
No. My 5 Homes is the evolution of second home ownership. It's simply the smartest way for you to own and enjoy multiple luxury vacation homes...just like each one is your second home.
Most people don't own 5 luxury vacations homes. That's because the cost is extremely high to purchase and maintain the homes in multiple locations, when you won't use them more than a week or two a year. That's why we bring together like-minded people in an LLC so that you can own and enjoy these homes for around 5% of what it would cost to purchase them yourself.
No. Owning real estate with others in an LLC is not new. Owning 5 luxury vacation homes in an LLC with others is new to the U.S. However, it's been practiced successfully throughout Europe for the past decade.
No. Owners in My 5 own interests in an LlC which wholly owns the homes and holds the deeds. This structure protects My 5 owners and gives them flexibility. In a Tenancy in Common, or TIC, each individual involved has deeded ownership.
The total costs are similar to what you would have to pay if you had purchased a second home and had it managed. The difference is, it's shared with the other owners in your homeset.
Costs include property management, maintenance and repairs, taxes, HOA fees, and utilities. Each homeset has its own projected annual costs, and these costs can be offset by putting some of your 12 weeks into the Rental Pool.
My 5 manages all aspects of homeownership, including: full concierge services to help make every stay amazing; selecting and managing the property management company; maintaining the LLC and resolving any disputes between owners; managing the Rental Pool to generate the highest rental proceeds to offset your shared costs; providing opportunities for exchanges with homes in other homesets or with other companies; handling all of the payments and accounting for the properties, including issuing K-1s.
You simply let us know prior to the beginning of every year how many nights out of your 12 weeks (84 nights) of usage you'd like to put into the Rental Pool and we will use the proceeds to offset your shared costs on a quarterly basis. It's done pro rata based on the number of nights you put in to the Pool each year.
For example, if you put half of your nights, or 42 nights, into the Pool and the total Pool is 420 nights, you'll receive 10% of the total Rental Proceeds to be applied against your shared costs on a quarterly basis.
No. It wouldn't make sense for My 5 to hire the best rental management companies only to have internal competition driving prices down. Owners may only rent out their time by placing nights in the My 5 Rental Pool.
$750,000 that includes $23,800 for capital reserve account
Not sure the answer here.
$29,000 is the maximum annual shared cost based on allotting 4 weeks to the rental pool
Yes! And if those weeks get rented, the annual shared costs decrease.
No, we take care of the design and furnishings of all residences so you don’t have to worry about it.
Yes! You can store personal belongings, make requests for specific preferences or likes, etc.