What Is Tenant In Common
Ownership?
"Tenant
In Common (TIC) Ownership" is designed for “1031 Exchangors”.
Sellers, of income-producing property or investment-held property
who are disposing of their “Relinquished Property” can acquire as
their “Replacement Property”, a percentage or part ownership in a
high quality “Real Estate Investment”, known as Tenant In Common
(TIC) Ownership. Tenant In Common property owners collectively own a
piece of real estate in which the title (deed) is held individually
by each owner. This is not a form of a partnership, corporation, or
LLC. As a Tenant In Common Owner, you enjoy the same bundle of
rights of ownership, as if you owned the entire property.
Tenant In Common (TIC) Ownership allows "1031 Exchangors" as well as
"Private Investors" the ability to participate in ownership in a
high quality "Real Estate Investment" with as little as $250,000.00
of capital.
How Can Tenant In Common
Ownership Benefit You?
Because of the required
Forty-Five (45) Day "Identification Period" restriction and a lack
of solid investment properties available, this form of ownership can
benefit you immensely. Whether you are in need of a Replacement
Property to complete a Real Estate Exchange or are just looking for
a good Real Estate Investment. Tenant In Common (TIC) Ownership can
be what the doctor ordered. Some advantages of this form of
ownership include;
- Fractional ownership in a
high quality “Real Estate Investment”
- Can be used as a back-up
Replacement Property to be identified in an Exchange
- Can be closed in a timely
manner to meet the “1031 Exchangors”, One Hundred and Eighty (180)
Day “Exchange Period” clock
- Allows for the flexibility
in capital size with a minimum investment of $250,000.00
Tenant
In Common (TIC) Ownership can allow for a percentage of ownership in
a high quality "Real Estate Investment", with the potential to
generate a steady income stream (cash flow), equity build-up, tax
benefits, and appreciation.
How Does R. J. GULLO &
CO., INC., Fit Into This Process?
You have recognized our name as
being a National Qualified Intermediary Company For Real Estate
Exchanges providing our Services nationwide for 30 years and have
been known as pioneers in the Exchange arena.
Our tradition continues
through our Tenant In Common (TIC) Ownership Program. We give “1031
Exchangors” and “Private Investors” the opportunity to participate
in ownership, in a high quality "Real Estate Investment". R. J.
GULLO INVESTMENT CO., INC., acts as the "TIC Sponsor" of each Tenant
In Common (TIC) Ownership Program that we offer. We are not Brokers
just trying to sell you properties. We select our properties with
great care and because we often learn about property opportunities
before they become available to the public, we are able to select
properties that offer the greatest potential. We have developed a
national alliance to provide for a consistent and reliable source of
Replacement Property that is always available to fit the needs of
our clients. Our success depends on our knowledge and 25 years of
experience.
How Many Owners Are There
In A Particular Property?
Our Tenant In Common (TIC)
Ownership programs typically are structured with as few as five
owners depending on the property. Investors have the opportunity to
participant with a minimum capital investment of $250,000.00.
How Do I Receive My Share
Of The Properties Cash Flow And Who Handles The Day-To-Day Management Of
the Property?
Through a Property Management
Agreement with the (TIC) owners, R. J. GULLO MANAGEMENT CO., INC., will
be hired to handle the day-to-day property management activities.
The Management Company will receive the monthly rent from the
tenants of the property, pay out the approved expenses as well as
the mortgage payment and forward each (TIC) owner’s pro-rata share
of income to them on a monthly basis. The Property Management
Company maintains an on-going relationship with our Tenants In
Common (TIC) Owners throughout the term of ownership assuring them
the highest level of professional service.
How Do I Sell My
Ownership Interest?
A projected holding period will be
pre-determined but could change in the future depending on market
conditions in which we have no control over. An owner who would like
to sell their ownership interest before such time, must first offer to
sell to other owners of the property.
If I Die, What Happens To
My Ownership Interest In The Property?
Your heirs would receive a
stepped-up basis for tax purposes meaning they would inherit the
(TIC) ownership interest at its fair market value and all the income
taxes that were deferred from your Exchange transaction would be
forgiven. Like any other property, your ownership interest would
pass in accordance with your Last Will and Testament.
Our Bottom Line!!!
If you are a “1031 Exchangor” or
“Private Investor” and would like to take advantage of the Real Estate
Investing Opportunity of the 21st Century, let one of America’s leading
authorities hold your hand through this process. Call Russell J. Gullo,
CCIM, CMIA, CEA, at 1 (866) R J Gullo (754-8556) to learn about our “Current
Offering”.
Take That First Step...
Call Us Today.
*This material is for
informational and educational purposes only. No intention is being made
as an offer to sell, or a solicitation of an offer to buy any TIC
Investment. An Investment in a TIC Property may only be made pursuant to
a Private Placement Memorandum.
