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PARTNERSHIP
INVESTMENT PROGRAM*
John
Willis Homes of Florida realizes you have a choice when selecting
a custom home builder. And this is a decision you will live
with for years to come. We combine years of experience, efficient
teamwork and exceptionally high standards to design and build
the perfect coastal home in Florida’s Great Northwest
for you and your family. Our Partnership Investment Program
offers yet another valuable alternative to vacation home ownership.
The
idea of partnership homes has been around as long as vacation
homes have. For a long time, friends have come together to
buy vacation homes. It’s in about the last five years
that a whole industry has sprung up orientated to partnership
homes.
Partnership
owners often finance a partnership investment with an equity
loan on their principal residence. Because it may not make
sense to own 100% of a property you only use a small part
of the time, partnership ownership is quickly becoming more
popular as the smart ownership alternative for vacation real
estate.
Partnership
ownership continues to become more prevalent each year, mostly
because the price, value and convenience make so much sense.
Its use for single-family vacation homes is fairly new - only
a few places in the country offer this option. But there continues
to be a growing demand since there is a demand for real estate
investments that are proportionate to actual use. |
HOW
DOES IT WORK?
Partnership Ownership is similar to any other real estate
investment, except that you are only investing in a portion
of the property instead of the whole property. More common
are quarter shares, where you use the property one week out
of every month, sharing the property with only three other
owners.
BENEFITS
One of the main reasons people invest in partnerships, even
when they can afford the entire investment, is that the responsibility
of ownership is reduced. This makes the second home truly
a vacation, as you can simply go there, and know everything
is in order. The partnership owners are entitled access to
all the amenities in the resort area, while being responsible
for substantially less of the community dues.
WHAT
ABOUT THE USE OF THE HOME?
Each of the partner’s
ownership interest in the home is alloted weeks of use per
year based on the percentage of ownership. Typical ownership
will have thirteen weeks total use - three fixed weeks chosen
each year based on priority and the additional weeks chosen
from the entire pool of remaining weeks, based on your needs.
WHEN
DOES A WEEK OF STAY BEGIN?
Weeks typically begin on Saturday afternoons at 4 PM or later.
This allows the cleaning service to prepare for your arrival.
You should plan on leaving by 10 AM the following Saturday,
or work out other arrangements with your partners.
CAN
I RENT OUT MY WEEKS OF OWNERSHIP?
Yes, many partners elect to rent several of the weeks to cover
a good portion of the annual assessment, as long as this is
a term all partners agree to.
CAN
I SWAP WEEKS WITH ANOTHER OWNER?
Absolutely. Swapping and exchanging weeks is easy - just put
up one or more of your weeks and pick other available weeks. |
CAN
I SELL MY SHARE OF THE HOME?
Yes, of course. You could offer it for sale to your partners
or list the interest with a realtor. The value of your interest
can increase with the value of the property.
WHO
DOES THE CLEANING?
The management company running the association can arrange
the cleaning of the homes or you may handle this as part of
your partnership agreement.
WHAT
JOHN WILLIS HOMES OF FLORIDA PROPERTIES ARE AVAILABLE?
Our Northwest Florida communities: Cypress Dunes, Santa Rosa
Golf Villas, WaterColor and Magnolia Bay Club.
WHO
DO I CONTACT FOR MORE INFORMATION?
You may contact the following individuals for more information:
CYPRESS
DUNES - Santa Rosa Beach
850-622-0145
SANTA
ROSA GOLF VILLAS - Santa Rosa Beach
866-622-5807
WATERCOLOR
- Santa Rosa Beach
Lin Otte - 770-623-1496
MAGNOLIA
BAY CLUB - Panama City Beach
850-234-0031
*
This is not a fractional ownership program. Terms and conditions
subject to change without notice. |
