Rental Income $400,000 per 1/4 share - Fractional Home, Fractional Home LLC
Share Ownership of a La Quinta, California Golf Home
The McGeehan and McGregor-deVere families share a deep affection for La Quinta, a place often referred to as “the gem of the desert.” Mike and David, both passionate about golf, along with their families, enjoy the breathtaking desert mountains, relaxing by the pool, and dining outdoors on their patio.
This led them to establish a limited liability company (LLC) to purchase an ideal vacation home in La Quinta, CA.
About the Home Search
- 4 bedrooms | 4.5 bath Home
- $1.2MM to $1.8MM range (roughly $400k per share)
- Golf Property
The families are searching for an investment that will quickly start earning rental income and have the most significant long-term value. Purchasing at a below-market price is a goal in this investment.
The home usage will be split four ways for approximately 13 weeks per family.
This area has major events all year, like PGA golf in January, tennis in March, and Coachella in April, the best times to rent out properties. The goal is to use local real estate agents to find people to rent to.
La Quinta recently updated their rental rules to a minimum of 30 days. According to people in this market, including realtors, houses can be rented for about $15,000 or more per month.
Recently, the group experienced a fantastic weekend of property viewings. Their agent, Kris Maddock, presented them with several properties that captivated their hearts. Thrilled by what they saw, they are seeking two more investors to join this promising venture. Their objective is to finalize the purchase of a house, chosen by consensus, within the first quarter of 2024.