Home ownership can be wonderful and satisfying—but also expensive. Unexpected repairs, broken appliances, and damage from weather events can create financial headaches for any homeowner if you aren’t prepared for them. That’s why Plum recommends that anyone owning a vacation home have a reserve fund available to handle unexpected expenses, and avoid financial stress. 

North Carolina is known for its wide variety in landscapes: pristine coastline, bustling cities, and prolific lakes. However the “Old North State” is most identifiable by the Blue Ridge Mountain Range that wraps around the northwest of the State. The mountains and surrounding rolling hills provide ample real estate and make North Carolina a great state to co-own a mountain house.

Understanding and establishing operating agreements is an important early step in co-ownership. While tenancy-in-common and joint tenancy are often used, Plum believes an LLC offers the best method for protecting the interests and needs of co-owners. An LLC’s operating agreement provides a framework to address the myriad of issues that can arise during ownership. 

Think about the best place that you’ve worked. What made it stand out? What did the company value? Was workplace wellness emphasized? Regardless of your answers, Plum strives to be that place for our employees. That is why we lean on our values and rituals to cultivate a positive and supportive work environment. Our values are rooted in these 5 key principles: Be You Authentically, Less is More, Openness and Transparency, Get the Job Done Right, and Missionaries not Mercenaries. These values are then played out in our two rituals: Wellness Wednesday and Team Week.

Buying a vacation home is almost never easy, or very affordable. At Plum, we operate with the mission of making it both of those things. If you are interested, follow these steps to work your way through the process. And don’t worry, we will be there with you every step of the way!

People have long used co-ownership and fractional ownership to make vacation homes more affordable, efficient and accessible. The concept of vacation home co-ownership is particularly popular in the U.S. right now as over 2 million co-owned vacation houses exist across the country.

Owning a vacation home creates new tax situations for most people. In the case of a co-owned vacation home, the same principles apply except in a few situations. You can effectively learn how to manage your taxes in a co-owned vacation home by following these principles.

Owning a vacation home creates new tax situations for most people. In the case of a co-owned vacation home, the same principles apply except in a few situations. You can effectively learn how to manage your taxes in a co-owned vacation home by following these principles.

The episode welcomes Plum Founder and CEO, Matt Williamson. Williamson’s latest venture is Plum, a platform to make vacation home ownership more accessible through co-ownership. Plum is currently closing on its $1.5 million pre-seed round and is also hiring a Head of Engineering and a Senior Ruby on Rails Developer.

This iHeartMedia podcast interviews our CEO, Matt Williamson on their latest episode of CEOs to Know. This interview dives into co-ownership, his background as a serial entrepreneur, and everything you need to know about Plum Co-Ownership.

Plum’s platform guides users through every step of the co-ownership journey, from forming LLCs and creating operating agreements to managing the day-to-day logistics of shared property ownership.

Triangle startup Plum has made headlines recently for opening a $1.5 million pre-seed funding round. Described as “the easy button for co-owning vacation homes,” Plum is a software platform that helps potential property co-owners to find one another and then buy and own properties together. At an open house Thursday night, potential customers got a chance to meet with Plum CEO Matt Williamson in person. Here’s what happened.

A Durham-headquartered startup, Plum, led by a Triangle-based serial entrepreneur, seeks to simplify the process of buying a second home for groups of people. 

Successful co-ownership of a vacation home starts well before any real estate is purchased. Each potential co-owner should clarify their goals to ensure all of the group members are on the same page about the new property.

Many of you have used Uber and Airbnb, so the sharing economy has been in your life. Co-ownership is a wonderful extension that allows you to afford and use a vacation home of your dreams.

A concern many people have when it comes to co-owning a vacation house is how much time each owner will have at the property and whether they will get enough time to make it worthwhile.  The best way to alleviate this problem is by establishing a system before buying the house and incorporating it into an ownership agreement.

When there is a problem at a co-owned vacation house, each of the owners would contribute to paying for the fix. However, the logistics of organizing this payment make it difficult to rely on for most expenses and make the job of the house treasurer much more difficult.

When you dream about owning a vacation home, perhaps the last thing you think of is a maintenance schedule. While co-ownership of a vacation home allows you to use your vacation dollars efficiently, it also increases the need for a maintenance schedule.

A co-owned vacation home is less susceptible to break-ins, trespassing and vandalism due to the increased use of the property by the different owners.  But there are times when no one is around, so it is prudent to install a security system to protect your well-earned investment.  Knowing the vacation property is protected provides ease of mind when you are at your primary home.

Homeowners understand the need for home insurance to protect them from the expense of damage due to natural causes, fire, or theft, and to provide liability coverage for service professionals and other visitors to their home. Co-owners of a vacation home need coverage for the same reasons, but they need to ensure that they obtain coverage that fits their unique ownership setup.