Pay cash. Avoid bank debt. Remove risk. This is the essence of our real estate partnership model.
The concept of “collective ownership” grew out of two seminal experiences: the successful launch and management of a former luxury destination club, and the Great Recession beginning in 2007-2008. These two experiences led our executive team to spend more than two years working extensively with advisors, doing comprehensive research, and ultimately reinventing the concept of shared luxury vacation-home ownership.
Here are the ground rules: The partners in the LLC own the real estate outright. Lifestyle Asset Group has no ownership interest in any of the homes. We manage all the moving parts and operate each LLC on behalf of the partners, so you can enjoy every minute of your vacation. This is how, even if another real estate downturn were to occur, your capital is fully backed by the hard assets in the LLC, owned by you and the other partners of the LLC and not by the bank.
Early in the development of our model and its offerings and services, we led a wide array of surveys, tests and focus groups to learn exactly what your peers were looking for in a vacation home type of experience. The results were overwhelmingly consistent and became the seven fundamental principles of our company:
We understand the logistics of destination travel, and it shows. Our travel planners and local hosts know what it takes to make your travel hassle-free and your experiences as perfect as they can be. Our occupancy modelling and reservation policies are tested, proven, simple, and lead the industry in availability.
When it comes to managing your properties, one word sums it up — transparency. As a real estate investor and LLC partner, you’ll receive annual financial statements so you know where your annual fees are going and how your assets are performing.
At Lifestyle Asset Group our mission is simple. To make sure your real estate investment provides you with a lifetime of memories and the strongest prospect for future profitability.
Charlie Salcetti is an owner in LifestyleOne as well as an investor in Lifestyle Asset Group. Over the past 30 years, Mr. Salcetti has owned and operated MGP Real Estate, a commercial real estate investment and management company in the Washington DC area specializing in office, flex and industrial product. As the father of four and grandfather of two, he was looking to invest in a flexible shared vacation ownership program that would accomplish his family’s expanding travel plans. As a past owner of several timeshare and vacation membership organizations, he was attracted to the Lifestyle Asset Group shared ownership vacation model. Mr. Salcetti is a CPA with a BSBA from Georgetown University.
Ms. Stewart is an investor in Lifestyle Asset Group and a retired certified public accountant. During her 20-year career, she was a principal in a for-profit business entity that provided mental health and therapy services to children through eleven health care clinics throughout Arkansas. She served as CFO and CEO of this organization before selling the business in 2006. Ms. Stewart has an undergraduate degree in accounting and an MBA. My decision to invest in LAG was motivated by what I considered low risk opportunity to travel in style to some of my favorite destinations while participating in the upside potential of shared real estate ownership.
Mr. Evans is Founder and Chief Executive Officer of the SFI Financial Group, Inc. Chairman of the Evans/Gilruth Foundation (a non-profit Foundation dedicated to use of technology to solve education and health issues); a Board Member of TrioMed Innovations Corp. (a biotech/anti-microbial company), Pyng Medical Corp. (a trauma “saving lives in seconds” company), The Solution Design Group, Inc. (a capital and revenue management software company); and BioRaft, Inc. (a biochemical laboratory safety company); Advisory Board Chairman of Pixel/Epsilon (a homeland security and breakthrough ultrasound company), iCVn, Inc. (a cash tracking homeland security company), Ex-RAD, Inc. (a radiation amelioration company), a former Board Chairman of EOTech, Inc. (an optics sighting company) and Board Member of ART Inc. (an advanced materials company) and Board Member Emeritus of Altarum (a $75M/per year health care and educational non-profit Institute). Mr. Evans was the Chairman of the White House Cabinet Council on Technology Commercialization, a former Member of National Research Council Applications Board, former Head of NASA Commercial Technology and former Senior Executive at the White House, NASA, the Nuclear Regulatory Commission and the ACTION Agency (Peace Corps and Vista). Mr. Evans holds a B.A. in Economics from Colby College and a J.D. from Cornell University.
Mary Smith has been President and majority owner of IMA, Inc. for 31 years and Access Health, Inc. for 8 years (both located in Bossier City, Louisiana). Ms. Smith was selected by the U.S. House of Representatives’ Policy Committee to serve on a panel to help discover and prioritize future insurance and employee benefits issues. She has also acted as a key resource to former and current congressional members such as Senator Bob Dole, Senator John Breaux, Senator Bennett Johnston, and speaker of the House Newt Gingrich. Mary Smith is also a current advisor to Louisiana Senators Robert Adley and Dr. Bill Cassidy. Ms. Smith has been associated with the executive team at Lifestyle Asset Group since 2004. With experience in former vacation club models, she strongly believes in the Lifestyle Asset Group business model and the team’s ability to execute their vision.
Mr. Woodland has over 30 years of experience as an entrepreneur in the pharmaceutical marketing industry. He is currently president and chief executive officer of two firms, Communications Media Incorporated (CMI) and Compass, Inc., specializing in pharmaceutical media planning and buying.