TIC properties for sale
The most rapidly growing marketplace for 'for sale' listings in Los Angeles is TIC property. What is a Tic in Real estate? They are condo alternatives- having a similar condoesky type of feeling however with more freedom and less rules - owners take an active control of their nonexclusive investment rather than sit passively and miss out on accumulating wealth.
Looking for more of the legal information surrounding TICs and their usage? Andy Sirkin has been labeled the godfather of Tics having literally created the market out of thin air, or at least an incredibly tight San Fransico real estate market!
Better than Renting! Tic Los Angeles
The best place to shop for a Tic is with Compass. Tic Compass is a specialized division of Compass that focuses on Tic sales. It can be tricky to find out about TICs because they are not always all listed on Zillow or Redfin. Many TIC deals are happening off-market, which is why it is important to work with an experienced tic realtor. It might sound counterintuitive to say experienced agents with handling tics when they are so new. While that is true, if you have been involved in tic sales since the very beginning in Los Angeles you would have already have 4 years of experience! So you need an LA TIC OG
#1 is Affordability: TIC Listings Los Angeles
My best advice for browsing TICs is to carefully consider the number of units in the community and the location. The three L's of real estate will never be forgotten. The same is true for tics. One reason millenial buyers love tics is because they can get you access to a better neighborhood. Tics number one benefit is they have affordable pricing.
Well, that's a Drag- tic property taxes
It can be a drag to think about property taxes. Indeed, if you have been rented you have not had to pay property taxes. They are approximately 1.25% of the property value in California. Since a TIC is owned together with co-owners you need to pay taxes. Normally in a condo, each owner would pay their own taxes. With a TIC each owner is responsible for their percentage share of ownership in the building for the property tax bill. Every owner has to pay the property tax bill together. It is essentially the same cost for condos or houses, but if you have been renting you may not be used to paying property taxes. That is why I always say it is slightly more expensive to Own than to rent- for things like maintenance and property tax.
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