This page is purely for educational purposes and contains answers to some of the most frequently asked questions that we are asked. If you have a question that is not contained within this section and are in need of an answer, we invite you to contact GRAATIFY directly.
What does GRAATIFY do and does GRAATIFY buy and/or own the home?
GRAATIFY helps our clients form an LLC with a cohort of like-minded individuals, who then purchase, own, and operate the property together. This makes co-ownership available to almost anyone and provides virtually unlimited access to vacation property located almost anywhere. Unlike some co-ownership companies who own properties thus dictating the "rules of engagement" with their co-owners, GRAATIFY does not buy or take an ownership position in a property. We are here to serve you along with your cohort of co-owners. YOU are our client! We work hard for YOU and rely on referrals to your friends and family as our greatest compliment.
Is GRAATIFY involved with the purchase transaction?
Absolutely! GRAATIFY is involved throughout the process acting as your advisor which includes everything related to forming the co-owner cohort, providing access to GRAATIFY's Preferred Partner Professionals network (that includes agents, attorneys, accountants and property managers) to providing valuable advisory services throughout the buying process. Post closing, GRAATIFY oversees scheduling usage, repairs and routine maintenance.
What other client-related services does GRAATIFY provide?
GRAATIFY handles the following services: 1. Entity formation (setting up an LLC, filing of paperwork, obtaining an EIN, and issuing K-1s, etc), 2. LLC Operating Agreement (GRAATIFY's governance model will align co-owners with operational scenarios such as ownership transfers, voting procedures, repairs, and expenses), 3. Banking (GRAATIFY will create a bank account for the LLC and supports deposits, rental distributions, expense withdrawals, and a reserve for the property), 4. Property closing (GRAATIFY's real estate agent partner will work through the due diligence process, and assist in successfully closing the property), 5. Personal touch concierge services including event planning, catering, providing a personal chef, arranging boat or other sport rentals, tours, etc... for those special occasions.
How many co-owners are allowed?
While we generally see cohorts of 2-3 co-owners, and sometimes larger cohorts of 7-8, we have found that the most manageable (meaning less problems over the long run) are those in which the cohort consists of not more than 5 co-owners.
How much does GRAATIFY charge?
At GRAATIFY we believe that you should only pay for the services that you value. Our base advisory fee equals 3.5% of the purchase price (or professional appraised price) of the vacation home property and goes from there based on the additional services that you and your cohort select. We offer a menu of services utilizing a cost-plus approach for our management services. Unlike some companies who use marketing gimmicks to disguise their fees, we do not sell "memberships" nor do we require owner-investors to become "certified" in order to become a co-owner of luxury vacation property. Upon executing our base advisory services agreement, GRAATIFY will provide a fully detailed listing of any and all additional services that GRAATIFY can provide and the cost-plus structure related to those services. The bottom line is that you only pay for the services you require. We work for YOU!