Avatar's Blog
» Tenant in Common Properties for 1031 Rollovers
Investors with 1031 rollover purchases must deal with strict time constraints set out by the IRS. If the sale and purchase of the suject properties don't conform to the timestables, it can cost them dearly. Recently, I sold an investment residential property and was looking in the Seattle area for a replacement property. Selling the property took less that 48 hours. Properties are selling hot and fast in the greater Seattle market.
Buying a replacement property was another story. The window of opportunity was closing quickly and the only serious option I had was falling through. I needed a backup. I did my research online. I was willing to buy investment property anywhere in the US that seemed likely to increase in value and be manageable as well. That's when I discovered TIC, Tenant in Common properties.
Although TIC has been around for many years, they have only recently (in the past 3-4 years) caught on as 1031 rollover options. Investors are flocking to the idea in droves. And rightly so. I did. TIC offers all the advantages of investment real estate and gives you the opportunity to be part of a larger project without having to manage the building or property at all.
For more info about TIC, email me at gillian@avatarfinancial.com I'll share some of my resources.
