Co-ownership with Vetted Partners
In this new era of the sharing economy, people are comfortable leveraging innovative technology to vet fellow co-owners, create transparency and security in financial transactions, and communicate clearly to manage their vacation home together.
In fact, more than 40% of the people we engage with are seeking to form a group with people they meet through Plum.
Case Study: Jenn Summe’s Beach House Group
Jenn is an entrepreneur and a mom who wanted to by a beach home, both as a place to build memories with her family, and as a means of diversifying her investment portfolio with real estate.
As she explored the possibilities, she and her husband, Jeff, realized that they could secure a larger home on the coast with higher rental incomes if she partners with 3 other co-owners. Jenn and Jeff felt comfortable with Plum’s PlumCertfied background check to keep them safe, built a Proposal in Plum’s Co-ownership Marketplace, and assembled a group to buy a beach home.
Learn from Jenn’s experiences with Plum CoOwnership by watching this customer interview.
Best Practices for Forming or Joining a Public Group
Plum has invested hundreds of hours in research and direct client engagement, and we’re happy to share a few best practices.
1. Start by Exploring the Plum Co-ownership Marketplace
It’s good to start by just going to the Plum Marketplace and observing what’s there already. What is a Proposal? What types of preferences and rules do people tend to express? What locations are you attracted to?
2. Consider Getting PlumCertified Right Away
Our PlumCertified process keeps everyone secure by taking people through a background check, a soft credit pull (740+), and a verification of liquid assets. This way, we can introduce you to other PlumCertified members, and everyone knows that it’s safe to chat because you’ve all met the same criteria.
There’s no requirement to get PlumCertified to explore the marketplace, or to even request conversations, but you’re much more likely to get matched if you can show your credentials up front. As a matter of policy, every Member of a Group must be PlumCertified before they can proceed through our Co-ownership process.
Click here to get PlumCertified.
3. Build a Proposal… It’s Free!
It costs nothing to dream. Our Proposal Builder makes it easy to build a proposal, including location, budget estimates, and a first pass at the preferences for the house (such as the pet policy, or desired amenities, such as a hot tub). You can have a professional proposal designed in less than 10 minutes!
Click here to start a Proposal.
4. Let Your Plum Concierge Help with a Plum Jam
Getting that first conversation to happen can feel a little awkward. That’s why our Concierges are ready to help facilitate your meetings (which we call Plum Jams). Plum has platformed all of the steps involved in co-ownership and can guide you and your group to co-ownership success. Get in touch with us and we’re more than happy to help.
Get Help with Co-Ownership
Plum’s friendly concierges are here to answer questions about co-ownership. Drop us a line and let us help you on your co-ownership journey!