Tag Archives: Houses into Corporations

Pacaso Is Turning Houses Into Corporations : Planet Money : NPR

Brad Day and his neighbors in California’s Sonoma Valley have noticed a real estate startup is turning houses in their community into limited liability corporations. A group has formed to oppose the company’s moves. Day’s favorite sign reads, “The Pacaso house is the big one on the right with no soul.”
Brad Day

The company was co-founded by a Napa resident, and it converts houses into LLCs. Pacaso then sells shares of these corporate houses to multiple investors. Gardner Googled Pacaso, and, sure enough, the house on their cul-de-sac was on its website. The company had named the house “Chardonnay” and was now selling investors the chance to buy a one-eighth share of it for $606,000.

Source: Pacaso Is Turning Houses Into Corporations : Planet Money : NPR