All Forum Posts by: Alaiya Aguilar

@Trevor Ewen 

Thanks, those are good suggestions.

I am currently a partial owner in a large apartment complex in Greensboro, NC but I live elsewhere.  I would love any thoughts you have on what's happening there and especially what you think will be happening there in the next 10 years.  I know it has been one of the slowest markets to rebound after the real estate crash.  I also know there is a lot of construction and planned construction of apartments there.  Are there any companies that are planning to leave or come to the area?  What is the work situation there?  Any thoughts or resources would be much appreciated

@Leslie Pappas 

Hi Leslie,
I had another question for you...

I'm looking for a lawyer who has a lot of experience working with TICs, in particular in title transfers with lenders. Do you have any recommendations for someone?

Just briefly, I used to live in Berkeley and held my TIC interests in a CA LLC. When I moved to OR the accountant here did not file the proper income tax returns in CA for the LLC and unbeknownst to me it was closed. Now, as I try to remedy this I am receiving dire warnings from the TIC management companies about how the lenders can charge me thousands of dollars to do a title transfer. My lawyer here has no experience with TICs and I thought someone with more experience could perhaps be helpful.

Thanks so much,
Alaiya Aguilar

Hello,

I'm looking for recommendations for a really good real estate lawyer in the state of Oregon.  I need one that has a good amount of experience with TICs (tenant in common).

Thanks!

Alaiya

@Michele Fischer oh good goal!  Yes, not sure Ashland is so good for real estate deals but I have some friends who have been rehabbing rentals and i definitely want to ask them more about that.  Let me know if you need any restaurant recommendations, though!  ( :

@Brian Burke 

Thank you.  I appreciate your question breakdown!  With everyone's responses I'm starting to see that there are places for me to really get a lot clearer with the management companies.  And that there are places where I can have some control even given the limitations of that.  Should I have a copy of the deed?  Can I get it from the companies?

@Leslie Pappas 

That's interesting what you said about being able to contact the other owners!  I did ask before but they wouldn't give me the information.  Also, in your first post you asked whether I'd contacted the representative.  I haven't because I just thought of him as a sales person. Can you say more about why you were thinking I should contact him?  He's actually an investor in the better one..

Another question comes to mind...

Can I trust the company's analysis of selling versus refi? I don't think they are bad companies but since the investment didn't turn out anywhere close to the original predictions it makes me wonder if it is better to get out at (almost) any cost rather than hang in for another 10 years.

Thank you!  This is really helpful.

@Elizabeth Colegrove 

Yes, as Adam mentioned a TIC stands for Tenants in Common and are a group of investors put together by a syndicator and run by a management company. The properties are usually large apartment complexes, shopping centers or office buildings. They have a term and are either sold at the end of the term or the owners vote to continue to hold the property. There is little control because there are 20+ owners and the owners can only connect through the management company and are often anonymous to each other.

Thanks for the welcome everyone!

@Lesley Pappas

Yes, the reason I'm raising the question of staying in or not is because on each of the TICs the owners will need to vote on whether to keep the property for another 10 years.  As I have made very little money I hesitate to stay with them but with the NC property I would walk away with so little I might need to stay for another 10.  

Hi,

My name is Alaiya Aguilar and I'm new to BP.  I currently am a part owner in 2 TICs.  One in Salt Lake City, UT and the other in Greensboro, NC.  I've been in them for 8 years and have been unhappy with the lack of control and poor returns.  The North Carolina investment is currently worth about half of what we paid for it.

I am joining BP because it's a great resource for information and I want to educate myself on what's happening in real estate today as I look to the future.

Specifically, I want help figuring out how and when to get out of the TICs with hard real estate lessons learned but with some capital intact! ( The term of the TICs are both up in 2016.)

Thanks and I look forward to "meeting"you!