In need of guidance, oh wayward one? Turn to the oracle that is the Ask Curbed SF inbox. We'll burden the masses with your problems, and they, our all-knowing readers, will command thee.
Ellis Act: scarlet letter, or not? Today, a reader who's looking to buy a TIC in Glen Park writes in with a couple questions. The property was Ellis Acted several years ago and is now ready to hit the market. Our inquirer's familiar with the ups and downs of a TIC, but isn't so sure about a property that's been Ellis Acted. A few questions, then:
· if we resell in 4-5 years, what are the implications of an Ellis Acted property in a stable real estate market?
· does it "lower" the perceived value of the property?
· any other negative aspects to be aware of with this type of property? Thoughts?