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Tonya W. Kenon |
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How Can I Exit My Tenant-in-Common Investment?
Tenant-in-common (TIC) investments were a popular investment choice for retirees during the early 2000s. These commercial property investments were supposed to be low risk and provide a moderate return on retirement savings. Multiple investors pooled their resources and purchased an industrial, multi-family, retail, or office asset. The hands-off management structure seemed alluring and the TIC structure offered a tax shelter from real property gains if the owner purchased the asset through a 1031 Exchange. Unfortunately, many of the TIC investments failed to meet expectations. One of the common flaws in these risky TIC deals is the non-existent exit strategy. When a TIC loan matures, it needs to be refinanced, or paid off in full; however, lenders are no longer willing to lend to the TIC ownership
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