What are TICs and what's
so special about them?
Tenants In Common
Tenants in common co-own a property together, and are allocated a percentage of the property that makes up their individual unit.
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What does that mean?
This means that you can buy a fraction of a property with others under a special TIC contract. This allows for you to sell or leave your portion of the property to someone else, without needing to involve the rest of the owners.
Why are TICs so hot right now?
TICs are rental communities converted to home-ownership communities. These new communities are offered at 15-20% below market rate, due to the limited financing options available today. These communities are developed with everyone in mind for a harmonious community lifestyle.
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L.A. TICs for Sale
What's the difference between
TICs and Condos?
TIC Guru:
Meet Andy Sirkin
Andy Sirkin is a real estate attorney who specializes in fractional ownership. He has paved the way for TICs since the 1980s when he bought his first property with his friends in San Francisco. They created a community together and he wrote the TIC Agreement for this community. Now, he write almost all the TIC Agreements here in Los Angeles.
What is a TIC Agreement? The TIC Agreement is the contract between all owners in a TIC Community that convey the rules of the community much like CC&Rs or HOA Docs in a condo. This agreement details how the community will handle taxes, maintenance, rules, and disputes. The TIC Agreement is what frames the community and keeps it together through its lifetime.
Fractional Loan
Today, TICs can only be financed through fractional loans. These loans allow each TIC buyer to qualify independently and sign an individual note. Each note is secured by a deed of trust covering only that owner's percentage.
Lenders
Currently there are two lenders who offer fractional loans: Sterling Bank & National Cooperative Bank. As TICs become more popular, more lenders may offer fractional loans.
Financing Options
Sterling Bank and National Cooperative Bank offer ARMs for TIC Financing. You must have at least a 10% down payment.
Note: 30 year fixed rate loans are not offered at this time.
TIC Masterclass
Online Video Tutorial
Want to learn about TICs and
how they came to Los Angeles?
Want to know the process
In purchasing a TIC home?
Tune In for the TIC Masterclass, taught on a weekly YouTube series brought to you by Lauren Biedenharn.
Meet: Lauren Biedenharn
Trusted, Tech-Savvy Real Estate.
Lauren Biedenharn Is your perfect partner when finding your new home and lifestyle. With a background In the arts and technology, she has a unique touch In her service to find and achieve your next real estate milestone. She has been a pioneer In new types of ownership from TICs, to tokenized ownership and blockchain technology.
Lauren has created a platform for any first-time homebuyer to learn and prepare for their first purchase through their medium of choice. Lauren Is continuously posting new Information, fabulous house tours, and cutting edge technology virtually on social media, YouTube and In person with her clients and followers. Follow Lauren on her everyday adventures for Insider tips and fun!
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