Real Estate Company Owner Robert Tweed Talks About NNN Leases
Robert Tweed, San Marino resident, got involved in real estate early in his adulthood. In fact, he bought his first rental property when he was just 22 years of age in Toronto, Canada. He purchased a second rental there a few years after. Robert Tweed used passive income from these properties to move to Los Angeles in 1987. This is where he truly got experience with sourcing and flipping real estate that had gone into foreclosure.
Robert Tweed Has Knowledge on NNN Leases
Robert Tweed has immersed himself into the world of real estate and in the last several years has gained experience with NNN leases. This is defined as when an individual, group, or business entity purchases property and pays for not only the rent of that property, but also the insurance, maintenance, property taxes, and more beyond that. Robert Tweed deals with such situations frequently and asks that tenants sign a triple net lease in order to account for the greater responsibility that comes with this type of undertaking.
Robert Tweed and the Three Categories of Triple Net Leases
According to Wikipedia, net lease has to do with a lease structure in which the lessee or tenant is required to pay part or all of the more common expenses involved in owning real estate. There are three categories that go along with this: insurance, maintenance, and property taxes. In most instances, a tenant will not have anything to do with those “extras” unless their landlord asks that they have renter’s insurance as a condition of their lease.
On the plus side, rent that’s collected under the net lease will be a net of expenses, and it tends to be less than rent that’s charged under a gross lease. It’s highly unlikely that anyone who owns an apartment will be in this situation, but it’s incredibly common within the commercial real estate market.
Other Types of Net Leases
Real estate brokers such as Robert Tweed deal with net leases all the time. In addition to NNN leases, there also are single net, double net, and bondable triple net leases. It’s important to talk over your options with a real estate professional like Robert Tweed so that you can determine what the best choice is for your unique situation.
Robert Tweed has led a successful venture in his more recent work with 1031 tax-deferred exchanges. He takes great pride in assisting clients through this process so that they can make efficient transactions with real estate properties.
TFS Properties, Inc.
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