CFAH

Nope, that’s not a typo. A Potrero Hill TIC is currently on the market for $100,000. Before you call your agent, however, you might want to read all the notes:

“Listing is for a 1/6 (TIC) ownership interest in this Potrero Hill single-unit home. Other 5/6 ownership positions are held by related family members of seller. Occupany [sic] by 1/6 buyer will most likely not be an option.”

Please tell us we shouldn’t be filing this one under trends. And for once, we’re going to take a pass on the housewarming. (And most likely, so will the “buyer”…)
∙ Listing: 249 Texas – $100,000 [MLS]

Comments from Plugged-In Readers

  1. Posted by ph dude

    As an added bonus, one of the tenants of the house, [name removed by editor] is a registered sex offender.
    http://www.meganslaw.ca.gov

  2. Posted by SocketSite

    Quite honestly that last comment just caught us by surprise.
    We are trying to confirm/clarify with the listing agent and will provide an update as soon as we have any new information.

  3. Posted by godzillow

    While you are at it, ask how a TIC set up can exclude possesion. I think I must have missed that day of law school.

  4. Posted by Binkomonster

    You. Have. Got. To. Be. Kidding. 100K to help subsidize the ‘family’ that’s living there? Wow. New business model gets created every day doesn’t it. Heh. Take your 100K ask and ***** it.

  5. Posted by drwende

    It looks like they’re looking for an investor to pick up a share of their costs. Some of the wackier real-estate-investing gurus recommend this method of getting financing: the 1/6th share non-resident investor gets to hope for continued appreciation so that s/he can make a profit by later selling that share back to the family.
    Whether it’s legal as a TIC (or a good idea), I haven’t the foggiest notion.

Comments are closed.

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