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.