New to BP and Commercial Investing (NNN)

[Joe Odell]

I wanted to introduce myself and try and connect with some of the other motivated and like minded people here on BP. My name is Joe Odell and I live in the middle of nowhere North Platte, Nebraska, population 26k. Smack dab between Denver, CO and Omaha, NE, about 265 miles to either city. 
Although I'm new to commercial investing I do have a background in residential real estate, I was a broker for several years in the Fort Collins area of Northern Colorado. As I said I'm new to commercial real estate, but if there is anything I can do to help anyone, in any way, I'm here to assist.

I'm turning 40 next month and I'm tired of trading my time for money, life is to damn short. I've been busting my *** to get a nice pile of cash built up the last several years to start investing. I recently came across Bigger Pockets, it reminded me how much I loved real estate. After my epiphany that every financial independent/wealthy person I know owns real estate, and a bunch of it, I've been set on a new path. I've been reading everything I can get my hands on, binge streaming Bigger Pockets podcast, and doing anything else I can think of to grow my knowledge base. I think I've narrowed my focus down to Triple Net Leasing (NNN) across the nation. Any tips, warnings, or knowledge from experienced commercial investors would be graciously appreciated.

I guess I'll bring the short novel to a close, I'm sure everyone quit reading at North Platte, NE. Thank you for taking the time to read, and I look forward to connecting.

Joe Odell

[Mark H. Porter]

Hi, I live in North Myrtle Beach and do both STR beach houses as well as commercial investments in STNL and class A and B strip malls. I am the principal, not a broker.

One thing I've learned on NNN deals is those three letters can be interpreted many ways, especially when in a multi-tenant scenario. If perfect, all the landlords expenses are paid for but digging into leases reveals caps on certain expenses (property tax, insurance) or CAM, or certain parts of it, can be excluded from one tenant but added to another.

Make sure you have your attorney complete analysis of the leases prior to the end of due diligence.  I haven’t gone through a deal yet when we didn’t find something that raised our eyebrows.