Buying triple net real estate should be approached with the assistance of a broker. In addition to helping you find triple net properties that meet your investment criteria, a broker also performs an in depth financial analysis on prospective investment properties to ensure they would be a wise investment, and helps you acquire property with the least amount of risk and exposure.
So, how does one go about choosing a GOOD triple net property broker? There are thousands of brokers to choose from, and like investment properties themselves, some brokers are better than others. If this is your first time searching for a broker to assist with a triple net property investment, below are helpful tips for hiring a broker that will help you reach your investment goals.
USE A FULL-TIME BROKER
Someone who moonlights as a broker isn’t the one you want advising your investment decisions. Part-time brokers usually work part-time for a reason: either they broker transactions primarily as a hobby, or they haven’t experienced enough success to make brokerage a full-time job. Part-timers often charge a low fee; and they should, because they infrequently offer first-rate investment advice.
CHOOSE A BROKER THAT SPECIALIZES IN TRIPLE NET PROPERTY
If you are targeting triple net real estate, hire a broker that specializes in transactions in the triple net real estate market. Some brokers claim to broker all types of real estate transactions and specialize in none. In many cases, these brokers lack the expertise and resources to provide you with the best chance of finding a property that meets your needs, and acquiring it on the best terms.
SELECT A BROKER THAT USES A PROPRIETARY REAL ESTATE DATABASE
Making the best investment begins with having access to a variety of properties. In most cases, the highest level of access results from working with a broker that uses of proprietary database that contains both on-market and off-market investment properties. On-market opportunities, which anyone can access, represent only a fraction of the triple properties available at any given time.
USE A BROKER THAT IS KNOWLEDGEABLE ABOUT FINANCING
Unless you plan to buy an investment property outright or trade for a property using a 1031 transaction, you will need financing. A broker that is knowledgeable about financing can guide you to the financing agreement—whether it be bank financing, life insurance financing, conduit debt, or a credit tenant lease (CTL) program—that is best for your financial needs and real estate ownership plans.
CHOOSE A BROKER THAT FOCUSES ON BUYER REPRESENTATION
You want to do business with a broker that listens to your needs before proposing potential investment opportunities, not a broker that pushes you to invest in certain triple net properties before your wants and needs are expressed. If you feel that a broker is steering you toward certain properties despite your wishes to the contrary, switching to a different broker is the best option.
NEED A GOOD BROKER?
If you need a triple net property broker that has the characteristics above, call Westwood Net Lease Advisors. Our brokers specialize in representing buyers and sellers of triple net properties in transactions that have minimal exposure and risk. With our proprietary database that contains thousands of on-market and off-market properties, we’ll help you find the right property for your investment goals.