Founder's Story - Reinventing Vacation Real Estate: How Nikolaus Thomale and Myne Homes Makes Global Ownership Easy | S2 Ep. 159

Episode Date: December 16, 2024

On this episode of the Founder’s Story, guest host Vanessa Antonio interviews Nikolaus Thomale, who explains how Myne Homes is closing the gap between the dream of owning a second home and the reality that very few people do. They discuss the barriers—affordability, underutilization, and complexity—and illustrate how Myne’s fractional co-ownership model overcomes them. Nikolaus clarifies how this differs from traditional timeshares, and details the resale process. The conversation wraps with a look at Myne Homes’ growth, the possibility of a future IPO, and how interested buyers can easily get started.Key Topics & Discussion PointsThe Desire vs. Reality of Second Home OwnershipUnmet Demand: According to Nikolaus over half the population dreams of owning a second home, yet fewer than 2% do so.Three Main Barriers:Affordability: Luxury vacation homes have a steep price tag, particularly in prime European locations.Underutilization: Second homes typically sit empty up to 80% of the year, wasting resources.Complexity: Managing property from afar—across different jurisdictions, tax regimes, and languages—deters many would-be buyers.The Myne Homes SolutionFractional Co-Ownership: Up to eight individuals share ownership of a high-end property, making it attainable at a fraction of the cost.Full-Service Management: Myne Homes handles everything from maintenance and furnishings to property management and owner storage, ensuring a seamless experience.Proven Track Record: With over €100 million worth of homes sold and desirable European destinations such as Mallorca, Tuscany, and the Alps in its portfolio, Myne Homes helps owners enjoy premium properties without hassle.Buying from the U.S., UK, and BeyondGlobal Accessibility: Non-EU citizens, including those from the U.S. and UK, can invest in Myne Homes shares, circumventing many complex entry barriers into European real estate.Resale Made Easy: Owners selling their fraction can do so just like selling traditional real estate. Myne Homes supports the process, and many sellers have experienced appreciation for their investments.Not a Timeshare—Real Co-OwnershipOwnership of Property, Not Just Time: Unlike timeshares, Myne Homes buyers own a fraction of real estate.Hassle-Free Group Ownership: Think of co-owning with friends or family, but without the interpersonal complexities. Myne Homes manages all the logistics.Interest Rates and Market ConditionsA Model That Endures: The fractional model appeals in both low and high-interest-rate environments. When interest rates rise, purchasing a whole second home becomes even less attainable, making the Myne model more attractive.Looking Ahead: Potential IPO and Mission-Driven GrowthLong-Term Vision: Myne Homes addresses a massive €4.9 trillion market of underutilized second homes.Possible Public Listing: While future steps depend on market timing and the company’s maturity, an IPO could be on the horizon as Myne Homes scales.Getting Started with Myne HomesSimple, Digital Onboarding: Interested buyers can browse available properties at www.myne-homes.com.Immediate Enjoyment: Ownership can be completed in a matter of days, enabling new owners to start planning their first stay almost right away.Resources & MentionsMyne Homes Website: www.myne-homes.comDestinations: Mallorca, Tuscany, the Alps, and other top European holiday spotsContact Myne Homes: Inquire online, request a viewing, or speak with an agent for personalized guidanceOur Sponsors:* Check out Indeed: https://indeed.com/FOUNDERSSTORY* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com* Check out Vanta and use my code FOUNDERS for a great deal: https://www.vanta.comAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Good day and welcome to the Founder's Story. I am Vanessa Pánez, your host. Today we are going to have Nicolas Tomale, who is the founder and CEO of Minehomes, the leading European platform for co-ownership vacation homes. Nicolas, welcome. Vanessa, thanks for having me. Our pleasure. So Nikolas, my first question for you would be more than 50% of the population dreams of owning a second home, but only as little as 2% do. Why is that? Well, that's a really good question, because it's probably

something that we've all experienced, right? You spend time at a really nice place, your vacation maybe with family and friends. And at some point, somebody comes up with this idea of maybe owning a second home there at this place and really staying there a lot more time. And a lot of people do and less than 2%, as you rightfully mentioned, actually turned this dream into reality. And that's mainly for three reasons. Number one is affordability, right? A dream home, a second home, especially like three, four bedrooms right next to the sea, that has become really, really expensive and most people simply can't afford them. And the second reason is that these homes then actually

sit empty 80% of the year. So underutilization of these places is a really big issue. That means the waste of economical, ecological, and socio-economical resources. So a lot of people who can afford actually don't want to because of this underutilization. And then there's a third reason that basically puts the rest of them off, which is complexity and all the headaches that go ahead with owning a place in a different place, away from home, maybe a different jurisdiction, different tax environment, language, cultures, which is just like adding so much stress and complexity to the actual dream of a second home. That's just three of the reasons why there's as little as 2% actually turning the dream into a reality. Basically, what we are hearing is there's a lot of pros and cons for owning as well a second home. So being the founder and CEO of Minehomes, what does Mine do to solve this problem? And how does your company work? Well, MIND actually simplifies ownership significantly.

And we specialize in fractional ownership of luxury vacation homes, meaning up to eight people share such a home. Imagine a two million home like the place right behind me, which you could now own one eighth of for as little as 250k, which makes it a lot more affordable for a lot more people. And mine handles everything from property management, from maintenance, through owner storage of personal items. We fit these properties out till the teaspoon, as we say, and it's really like being able to access this place and own it for a fraction of the cost. We have sold more than 100 million worth of homes across thought after

destinations all across Europe, like on Mallorca and the Tuscany, the Alps, and it's just like incredible to see how this ownership of a second home becomes affordable and effortless for a lot more people so they can enjoy all the perks of owning a premium second home without the hassle. That is very impressive. Nikolaus, can you tell us, can people from the United States or from the UK buy in Europe? Yeah, absolutely. So we are a European company.

Our destinations that we service and that we operate in are all across Europe. And it is absolutely possible for people from outside of Europe. So for example, the US or the UK to actually invest in a mine share or multiple shares. And it's actually something that makes it easier for especially people who are not from Europe originally, because you can imagine investing today in a

different jurisdiction, in a different country, with a different language, is probably even more stressful and complex for someone from the US. And since Brexit, the same thing goes for the UK, unfortunately. And since Brexit, the same thing goes for the UK, unfortunately. There's even barriers to entry, especially for people who are not from the EU. In some destinations, you can't really buy without being a EU citizen, which mind solves as well, because buying a share, a fractional ownership of a home like that is actually possible for US citizens or UK citizens as well. That's good to know.

Thank you. So if people bought a share, for example, like two years ago, and now they want to sell their share, how does that process work and do they sell it like a whole homeowner? Yeah, it's absolutely the same thing as just selling your home home. Yeah, it's absolutely the same thing as just selling your home home. It's maybe just very much easier than selling your home home, right? So you sell your share and since you own a fraction of the real estate, one-eighth or one-quarter, you sell that share as you would sell the whole home and you set your own price.

We can support you with that. And as properties appreciate, it's just like traditional real estate. The price of these shares goes with the market of course. We have done a lot of successful resale transactions in the past with owners seeing 10% average appreciation on their share sales. And so we really see that also the secondary market is something that is thriving and based on the simplicity of the transaction makes it a very effortless thing to do as well.

I'm sure many will appreciate that you could sell it like faster, easier than selling like a traditional home. So, Nicolas, how is mine share different from a timeshare that many of the people know about? Yeah, well, especially in the US and in the UK, you might have heard of timeshares, concept of the past. And I think the main difference is really that mine is co-ownership and not timesharing. You own a real fraction of the property, it's real estate, and not just time that you're owning. Think of buying with friends or with family, just without the hassle, because you don't need to know the other owners.

This is something that mine manages for you as well as the whole experience from start to finish, by finding the right properties, checking whether they are like legally properly built and so on, technically property built, to furnishing, paying the bills, maintaining the home and everything around that. This is all covered and owners simply enjoy their stays without worrying about the hassle.

So talk to me about the interest rates. Like does this model work in both low and high interest rate environments? Absolutely. We see mind thriving in all interest rate environments. We have been started in a low interest rate environment and we actually see a lot of interest and increased demand even in high interest environments. Because over the last two and a half years, you have seen even less people being able or wanting to afford a second home because of the higher interest and fractional ownership or co-ownership are just making a lot more sense

as well. We have sold more than 100 million in real estate across 20 markets with our owners booking more than 10,000 stay nights over the last couple of years. And this is really something that high rates couldn't stop, but actually where high rates became a tailwind rather than a headwind. Yeah. Thanks for sharing, Nicolas. Now, we'd like to hear about your exit strategies as the founder of Mine.

Is an IPO on the horizon for you? Vanessa, to answer this, I think we all have to have a glass, have to be able to look into a glass bowl in the future. But yeah, I mean, we think this is a product and a company that definitely has the potential to go public when the timing is right. And that means right in terms of the market and for the company. We're driven by the search for better, but when it comes to hiring, the best way to search for a candidate isn't to search at all.

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That's vanta.com slash founders. We are a very mission driven company and the goal is to make home ownership and second home ownership accessible to more people and connecting families with unused second homes. Just as M&B for example, connected travelers with empty bedrooms, right? And this is a huge, huge opportunity. We talk about a 4.9 trillion euro asset class in Europe alone, second homes, as I mentioned before,

being extremely underutilized, and this massive gap to close between the people that dream of owning a second home and those who actually do. This is something that we believe really is a great vision to aspire, a great mission to work on. And yeah, when the timing is right and the market is right, we might also bring the company public. Well, we look forward to Minehomes' promising future, Nicolas.

So how can we get started with Minehomes? You can basically just come to our website www.mine-homes.com. You can just browse and find beautiful properties all across Europe. And if you want, since it's a completely digital process, you would be an owner tomorrow and spend your first holiday in one of these properties and a couple of days or weeks from now. Of course, there's also possibilities to talk to our agents who can also offer you a viewing at the at the site and and and walk you through the process. We're here to help. That is so exciting. Now all of us wants to buy a second home.

Thank you so much for joining us. The founder story Nicholas. That is so exciting. Now all of us wants to buy a second home. Thank you so much for joining us. The founder story, Nicolas. Thank you, Vanessa.