by Margaret Jackson
Real estate is a great way to build wealth, but not everyone can afford to plunk down hundreds of thousands of dollars to purchase a rental property.
That makes fractional real estate ownership — or buying a percentage of a property — an attractive alternative to owning it outright. The cost of the property is split between multiple shareholders, who also share the profit and the cost of upkeep.
Owners of fractional properties usually pay a fee to a real estate management company for taking on the duties of a landlord. Those duties can include renovating the property, marketing it and finding renters, signing contracts, filing taxes and day-to-day administrative duties.