Episode #5
When multifamily owners no longer want to operate and manage their apartment buildings, what options do they have? Owners ask me, “What can I buy that will improve my quality of life?” This episode explores one answer to that question.
Today we have a special guest, Glen Kunofsky. Glen and his team are the leading investment advisors in the Triple-Net (NNN) property space, nationally.
Triple-Net properties are, in their purest form, investments which require no day-to-day management. If you are an investor who is interested in learning more about these assets, this episode is a great primer. We cover many of the basics, speak about the transition from management intensive buildings to those that are management free, and other considerations surrounding this type of real estate. Ironically, by hearing us talk about what NYC properties are not, you actually get a fuller view of the intricacies of owning in NYC.
As a bonus, we are also joined by a long time owner of NNN properties, Art Weigold. He adds a real world perspective that I thought would be really useful for listeners. This is a unique episode that I had a great time with, and it addresses a topic I get questions about all the time.
In this show, we discuss:
- Learning the ropes of the “owner occupancy” rule for NYC apartment buildings
- What are NNN properties, why do they exist and how do they work?
- Who are the sellers of NNN properties? How do they come to market?
- Why NNN properties can be part of estate planning?
- How do you evaluate buying a NNN building?
- How do NNN investments compare to multi-tenant retail?
- Why should you evaluate your “return on equity”on an annual basis?
- Ideas on how technology will change the use of retail and other real estate types
INTERESTED IN BUYING YOUR OWN NYC APARTMENT BUILDING?
LOOKING TO SPEAK WITH PETER DIRECTLY?
