Individual loans make TICs more attractive

As the first owners of individually-financed TICs get settled into their new homes, the Chronicle looks again at where we are in the process and what lies ahead.

"Paul Walker, president of FIL Consulting, says he is working with four other lenders interested in making individual TIC loans. These lenders refused to be identified for two reasons. One, "There's a stigma associated with TICs. People perceive it as evicting renters," he says, even though renters sometimes become homeowners by buying into a TIC. Two, the demand for such loans outstrips supply at this point. One lender said, "We already have a stack of loan applications. We don't need a semi truck dropping off more," says Walker."