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Lynette Fenical
Member since 2026 · 1 post · 2 votes

I am new to Bigger Pockets. I joined because eventhough I have been a residential real esate agent for 7 years, I want to guide my investor clients better. I live in the Bay Area and am a home owner and landlord. I recently helped a client buy a gas station with convenience store that was absolute NNN. I was impressed that he could recieve rent checks with no landlord obligations, with land appreciation, and accelerated deprciation. I hope to learn more real estate investing tips on this site.

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  • Jules Aton
    MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
    2mo

    Hi and welcome! 

    0Reply
  • Gabriel Chham
    New to Real Estate · San Diego, CA · Member since 2020 · 23 posts · 7 votes
    2mo
    Welcome Lynette! I’m in SoCal. Happy to connect.
    0Reply
  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · Sarasota, FL · Member since 2017 · 5k+ posts · 3k+ votes
    2mo

    Lynette, welcome to BiggerPockets. Being both a residential agent and a landlord gives you a useful perspective because you already understand transactions, tenants, and how properties operate.

    One thing I'd dig into before getting too excited about the "rent checks with no landlord obligations" side of NNN properties is the after-tax return. Commercial properties can be strong candidates for cost segregation because qualifying components may be depreciated over shorter recovery periods instead of the entire building over 39 years.

    But accelerated depreciation is only part of the story. You also need to determine whether you can actually use the losses. Rental activities are generally passive unless an exception applies, and qualifying as a real estate professional plus materially participating can change that treatment. Since you already work in real estate, I’d have a CPA look closely at whether your agent activity and rental involvement could position you for REPS rather than assuming the cost-seg deduction automatically offsets your other income.

    A hands-off NNN investment may be attractive operationally, but I'd compare cash flow, lease strength, tenant credit, remaining lease term, future CapEx responsibilities, and the usable tax benefit before choosing it over another rental strategy.

    Happy to connect!

    [email protected]941-914-7779
    INVESTOR FRIENDLY CPA®4.9242 Reviews
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  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 716 posts · 259 votes
    3w
    Quote from @Lynette Fenical:

    I am new to Bigger Pockets. I joined because eventhough I have been a residential real esate agent for 7 years, I want to guide my investor clients better. I live in the Bay Area and am a home owner and landlord. I recently helped a client buy a gas station with convenience store that was absolute NNN. I was impressed that he could recieve rent checks with no landlord obligations, with land appreciation, and accelerated deprciation. I hope to learn more real estate investing tips on this site.

    @Lynette Fenical, I can see why that gas station deal caught your attention. An absolute NNN lease can be very appealing, especially for someone who's used to handling the responsibilities that come with residential rentals. One thing I'd always want to look at closely, though, is what the lease actually says about the owner's responsibilities, even when the property is advertised as having very little landlord involvement.

    I'm a real estate attorney, broker, and investor in Maryland, and I've worked with property owners where the details of an agreement became much more important once something unexpected happened. With commercial properties, I'd be particularly interested in how the lease handles repairs, insurance, tenant obligations, and what happens if the tenant stops paying or leaves. Those details can make a big difference in how hands-off the investment really is.

    I enjoyed reading about your experience, @Lynette Fenical. Being both an agent and a landlord gives you an interesting perspective, and I think it's great that you're exploring other types of investments for your clients. Commercial leases and real estate transactions overlap with my work, so I'd be happy to stay connected and exchange perspectives.

    [email protected]240-266-0291
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