TIC (Tenant In Common) Conversions

What can anyone tell me about TIC conversions? If I buy a four-plex for $1200000 (San Francisco) and resell as TIC units for $599,000 each, (other than knowing the comp prices), what do I need to know? Anyone had experience with this kind of transaction? wink oh oh

Comments(2)

  • 64Ford16th June, 2004

    You may want to post this in the "commercial" section of this website. I know some folks there have done this. AS I recall, they basically just had to hire an attorney to draw up legal papers to convert.

  • cjmazur16th June, 2004

    Went as far as starting the DD w/ the city/an atty and shopping a property. Co-investors decided to buy a SFR.

    does take some homework.

    The juicery way to go is condo conversions, then the 4-plex would have 4-titles that can be sold.

    There's a huge waiting list, but some loop holes.

    Good luck.

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