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Ask Us: Remaining TIC Fractional Lenders

Where the readers ask and we (the community) try to answer:

Hi, just come across your site, very informative.

I’m trying to find TIC Fractional Lenders for a 3 unit + 1 unwarranted [unit] building in SF. We purchased it last October, have completed our renovations, 2 units will be owner occupied. We’re planning to go to Andy Sirkin to draw up a TIC agreement, and refinance hopefully with cash out. We now have a group loan @ 6.75%, no pre-pay penalty.

I heard Bank of Marin is out of the TIC market. How about Sterling and Circle, any other lenders available? Appreciate any info and recommendation. Thanks!

Best,
M

Thanks for your email and question. At this time we only know of Sterling Bank, and Ron Whitney at Zephyr real estate says that a “7×7 Group” also does Fractional TIC loans. Maybe the readers can provide further insight. Regardless, good luck and thanks for reading theFrontSteps.


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2 thoughts on “Ask Us: Remaining TIC Fractional Lenders”

  • Thaddius La Rue

    March 24, 2009 at 7:03 am

    Yes, 7×7 still has some ways to do fractional lending for you although the rates are better I think that they are more strict with lending restrictions. Their investors want their own inspection on the property too I think. Call Micky over there, he should be able to help. I could be way off.

    Reply
  • Nicki Dyson

    July 24, 2011 at 9:37 am

    Hello, I manage a fractional resort and am interested in finding a fractional TIC lender to refer my buyers to. Any additional information you have for me would be great.

    Our 1/8th fractional interests are re-selling for approximately $40,000.

    Thanks in advance for your time.

    Take care,
    Nicki

    Reply

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