Learn about a real estate strategy that allows units to be bought and sold like condos (without city approval). TIC stands for “Tenants In Common” and is a way to hold title when two or more people co-own. With Tenants in Common ownership the interest of each co-owner is distinct, and can be separately sold, transferred, or willed to heirs. With Tenants in Common, you own a fraction of the whole property.
What does this mean for YOU as an investor? If you take two side-by-side identical apartment buildings, one has been converted to condos, the other is owned as TIC, you would not be able to see the difference. They look the same and day-to-day operations are the same. In a TIC, a buyer purchases a share of the actual property and a private tenancy-in-common agreement gives the buyer the exclusive right to occupy a specific unit. Each buyer has a loan and is responsible for their share of the property tax. AND this strategy…Does not require city approval (to be verified in your city).
What else? Every have an issue dividing a lot? Why wait for city approval if a TIC agreement can manage co-ownership of the lot?
Find out more about how this strategy is changing things in large markets like San Francisco, Los Angeles and other large metropolitan markets.
Meet Lyssa Paul, an expert in TIC opportunities. She is a licensed attorney with a real estate practice focused in common, co-ownership, condominium conversions and shared ownership matters.
Lyssa will cover:
Join Us! Get the inside scoop on TIC’s! Register at www.WRENmonthlymeeting.com
At WREN meetings you meet prospective partners, mentors. You gain access and deal flow and the necessary resources that will foster your business development. We care about your success.
The Women’s Real Estate Network (WREN) means that you are part of an unstoppable force of women real estate business thinkers. We create an environment where women in real estate thrive and excel! We attract amazing female real estate professionals, flippers, lenders, syndicators and developers who want to empower and collaborate with other women and learn from each other.
If you have any questions please email [email protected]