Erik Throm
sfrealestate.bsky.social
Erik Throm
@sfrealestate.bsky.social
4 followers 0 following 17 posts
San Francisco Real Estate Agent
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🌟 Long-Term Benefits:
Holding onto a TIC can build substantial equity and provide rental income opportunities. It’s a strategic investment for those looking to grow their real estate portfolio over time. #LongTermInvestment
❌ When to Avoid TIC:
If you plan to live in the property short-term or prefer a hassle-free buying experience, TICs might not be the best choice. They require a longer commitment and come with unique challenges. #HomeBuyingAdvice
👤 My Experience:
I recently helped a client purchase a top-floor TIC in the Mission for an incredible price. They bought it in cash, securing a brand-new garage and excellent amenities—a true steal! #ClientSuccess #RealEstateStories
💰 Why Cash Buyers Love TICs:
Cash buyers can secure TICs at a discount and avoid financing hassles. They also have the flexibility to rent out units, maximizing their return on investment. 🏘️ #CashBuyers #RentalIncome
💼 Investment Potential:
Many TICs come with condo conversion plans, allowing for future equity gains. Investors can benefit significantly if the property appreciates or successfully converts to condos. #PropertyInvestment
🔄 Converting to a Condo:
Converting a TIC to a condo is complex in SF—moratoriums, waitlists, red tape, and high costs make it a lengthy process. T.I.C. offers a legal workaround to split ownership without full conversion. #RealEstateChallenges
🏢 Condo vs. T.I.C.:
• Condos: Easier to finance, quicker to sell, typically higher demand
• T.I.C.s: More affordable, potential for higher equity, longer selling time
Choose based on your financial situation and long-term goals. #CondoLife
📈 Market Insights:
San Francisco’s real estate is unique with historic Victorian and Edwardian buildings. TICs often arise from splitting these large homes into multiple units, offering a blend of classic architecture and modern affordability. 🏠 #SFRealEstate
⚠️ Not Ideal For:
• Short-Term Buyers: Those planning to sell within 2-4 years
• First-Time Homebuyers: If you’re not ready to commit long-term
• Buyers Needing Flexible Financing: Due to limited lender options
#HomeBuyingTips
👥 Ideal Buyer Profiles:
• Budget-Conscious Buyers: Those priced out of condos
• Long-Term Investors: Buyers looking to hold and potentially convert
• Cash Buyers: Individuals who can purchase without relying on traditional financing
#Homebuyers #InvestorTips
✅ Advantages of T.I.C.:
• Lower Entry Cost: More affordable than condos
• Potential for Equity Growth: Possibility of condo conversion
• Ideal for Investors & Cash Buyers: Great for long-term holds and those purchasing without financing
#Investment #RealEstateInvesting
⏳ Selling a T.I.C.:
TICs take longer to sell than condos—expect up to twice the time. Lower demand can mean TICs remain on the market for 60 days or more, so patience is key. #RealEstateMarket
💸 Cost Benefits:
TICs typically sell for 20-25% below market value compared to condos. This makes them an attractive option for buyers looking for more affordable entry into SF’s competitive market. #AffordableHousing
🏦 Financing a T.I.C.:
Banks are cautious with TICs. Only a few lenders in SF offer TIC loans, and historically, rates were higher with limited options. However, things have improved—30-year fixed loans are now more accessible! 💰 #MortgageTips
📜 Ownership Structure:
A TIC agreement outlines your percentage ownership of the building and grants exclusive rights to occupy your specific unit. This means shared ownership of common areas and joint responsibility for the property. #PropertyOwnership
🔍 What is a Tenancy in Common (T.I.C.)?
Similar to a condo, but instead of owning just the interior, you own a share or percentage of the entire building. For example, in a three-unit TIC, each owner holds a 33% stake. 🏢 #HomeBuying
🏡 Thinking about buying a home in San Francisco?
Noticed a lot of T.I.C.s (Tenancy in Common) on the market? Let’s dive deep into what a T.I.C. is, who it's ideal for, and whether it’s the right fit for you. #SanFrancisco #RealEstate #TIC