Austin co-founded Pacaso to make the dream of second home ownership a reality for more people after experiencing the profound effect it had on his own life. Pacaso is Austin’s second startup. In 2008, he founded Dotloop in his hometown of Cincinnati, a company that created software to seamlessly manage real estate transactions. Zillow acquired Dotloop in 2015, and Austin continued to run Dotloop as a Zillow executive until 2018.

Links:

Austin on LinkedIn

The Pacaso Backstory

Connect & Invest with Jake:

Follow Jake on Twitter: https://twitter.com/jwurzak

Take the Hospitality Investing Masterclass: https://learn.jakewurzak.com/

Learn How to Invest with DoveHill: https://bit.ly/3yg8Pwo

Topics:

(00:00:00) - Intro

(00:02:31) - Austin’s career in RE

(00:08:54) - Building DotLoop

(00:25:52) - Selling the business to Zillow

(00:28:33) - The future of RE agent commissions

(00:34:09) - Building Pacaso

(00:41:05) - Raising capital for the business

(00:48:43) - Revenue opportunities

(01:01:45) - Market selection

(01:05:18) - Master-plan resort communities

(01:10:48) - International markets

(01:14:12) - Most common objections 

(01:15:43) - Challenges in seasonal markets

(01:16:55) - Financing in a co-ownership structure

(01:18:42) - What is your favorite hotel?