NNNN - triple net Networking

[Paolo Ruggieri]

After cracking the code on traditional single family rentals, I would like to expand and network with NNN investors ... next investment I do is going to be different than the last 30 Residential rental properties in my portfolio. I am specifically interested in acquiring cash a single tenant commercial building that is Vacant (or close to be vacant), add value by renting it to a good credit tenant (ideally with corporate guarantee) and then sell or cash out finance it at a higher value.... with the idea that NNN properties should be almost management free once rented. I also would consider any NNN property where seller is distressed and is looking for quick cash deal. I am sure as everything in life it is easier said than done. It took me many years to master a large residential portfolio only to find out how much day - day involvement is needed even with the best property managers if your residential portfolio is large enough.

I truly enjoy customized complex deal making more than day to day operations so am looking to expand in NNN type deals that Probably fit the part of real estate what I enjoy the most.

Anyone out there that has some experience on NNN deals that wants to network for future mutual benefit relationship?

[Jameson Sullivan]

@Joe Villeneuve I think what he's getting at is he wants higher than a 4-7% return on a tenanted asset which is understandable.

@Paolo Ruggieri I would suggest you find an active CRE broker in your market - one who specializes in retail. Generally these guys are already running around with a handful of developers to whom they bring deals but if you can squeeze your way in you may have an opportunity to develop a site for a credit tenant but don't think for a second that a broker that's worth anything isn't going to know 10x more than you and likely has already developed properties themselves. Buying a house you might be able to force your way into a deal by way of CASH but in CRE it's all about relationships. We represent over 140 National and Regional tenants in my office as well as a handful of preferred developers for each Tenant. You're not going to be able to walk into a CRE office one day and ask for a piece of dirt and a Starbucks deal.