All Forum Posts by: Adwaita Ray

@Eamonn McElroy

What I would like to accomplish is to reduce the liability risk that comes with TIC. The liability of lawsuits in a TIC makes every co owner responsible and can affect an owner not limited to that particular property. However in a Property LLC , the liabilities are limited to the LLC right ?

So if there is a way to combine both , then we can get the benefits of the TIC - shared ownership, fractional loans, rights to property income, resale of ownership share + benefits of the LLC - eliminate liability risk extending beyond the property.

Is this even possible ?

I'm going for my first investment in SFR with a few friends. I was wondering which would be better - to create a Property LLC or have Tenancy in Common agreements ?

Can I buy a property , and then create an LLC and then sell the ownership share to my friends through TIC ? Can they be done together LLC as well as TICs ?

How does the liabilities work if it’s together ?

I'm going for my first investment but I wanna do it with a few of my friends. I intend to buy an SFR property, and then create an LLC with shared ownership or set up having Tenancy in Common agreements after its bought .Does making an LLC help or having Tenancy in Common agreements make more sense ? Or can I have an Property LLC and issue Tenancy in Common agreements where each shareholder will have equal share in property as well as the LLC? TIC would help me in allowing shareholders to leave when they want . I believe the liabilities of both are different? Can I have a property LLC with TIC agreements for each shareholder and have all the liabilities be the responsibility of the LLC and not the TIC agreement holders?