Stepdad has given me the okay to put $23M worth of equity to work. I'm looking at NNN. Can you help me?
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[{"id": "igyeevu", "text": "Uhhhh....", "replies": [{"id": "igyehkt", "text": "Glad someone said it", "replies": [], "depth": 2}, {"id": "ih00gz1", "text": "Can\u2019t possibly go tits up", "replies": [], "depth": 2}, {"id": "ih061ku", "text": "Eeeeeeekkkkk!!!", "replies": [], "depth": 2}, {"id": "ih1unwy", "text": "I think the way I wrote this post has you guys all triggered, I apologize I'll redo the post since you guys are all triggered that's my bad.", "replies": [], "depth": 2}], "depth": 1}, {"id": "igyen2l", "text": " Nice troll post mate. Give me your stepdads number. I don\u2019t want his money, just to make fun of him for yoloing $23M", "replies": [], "depth": 1}, {"id": "igyeolb", "text": "What's the worst that could happen?", "replies": [], "depth": 1}, {"id": "igyeygy", "text": "90 hours in 7 days in 13 hours/ day. If you had done that from the time you posted the last comment like this you\u2019d be halfway there.", "replies": [{"id": "igz7s1o", "text": "You're absolutely right, back then I was tasting the waters but now I'm committed", "replies": [{"id": "ih1d6a7", "text": "OP, what do the waters taste like?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "igykfzr", "text": "I think that conference was BS and probably a scam.  Join NAIOP and attend conferences, learn more.\n\nIf Onofrio was really printing money like that he. wouldn't be selling you a book.\n\nSaying \"NNN\" I think just applies to Industrial/Retail/Office real estate.  Try understanding one of those markets first.  You have a decent size checkbook but it would be surprisingly hard to diversify your assets due to not enough money.\n\nJust getting your first loan to buy one small asset as someone unexperienced will be extremely difficult.  So you might try working on that first?  Even if you go 50% LTV...\n\n&amp;#x200B;\n\nupon further inspection, Cardone is a well known bullshit artist / fake entrepreneur - https://www.youtube.com/watch?v=bCRj22g5sVc", "replies": [{"id": "igz87cn", "text": "I have my stepdad and other investors I met to cosign on the loans. What I'm concerned with now is finding deals and knowing what a good deal looks like", "replies": [], "depth": 2}, {"id": "igz8euh", "text": "Hey you're right about the types of \"NNN\", if you're savy in NNN can you share some recommended resources?", "replies": [{"id": "igzd2wh", "text": "Do you even know what NNN means?", "replies": [{"id": "ih67t3b", "text": "LOL", "replies": [], "depth": 4}], "depth": 3}, {"id": "ih4aryx", "text": "My point was more that NNN is an oversimplified way to refer to these property classes.   Don't fixate so much on NNN and instead focus on an asset class that you like.  Leases are going to be NNN or Gross with many variations and intricacies on that.  For example, you can charge your tenant reserves for roofing, painting, asphalt sealing, management fees, etc. or you could not, it would still be a NNN lease.  A gross lease with a base year is going to be functionally the same as a NNN lease.  Many NNN leases have a cap on how much the expenses can go up for a tenant in a given year.\n\nThis Intro to RE Finance course from NAIOP might be helpful for you to begin understanding how underwriting an acquisition would work.  This is the main industry trade organization.\n\n[https://learn.naiop.org/products/basic-real-estate-finance-course](https://learn.naiop.org/products/basic-real-estate-finance-course)", "replies": [{"id": "iis6gyc", "text": "Yes I\u2019ve been learning that the terms of the lease is a very important aspect. \nIn terms of asset classes I\u2019ve heard that Grocery Anchored Tenants, Industrial - distribution and manufacturing are good. \nWhat are your favorite? \nThanks a lot for the resource! I\u2019m going to take the course ASAP", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "igze8aq", "text": "The only one who wins in his deals is him.\nSource: have friends that have lost millions on his deals while got his money and walked away", "replies": [], "depth": 2}], "depth": 1}, {"id": "igyto6i", "text": "Where did you get the other $8MM-$13MM in the last six months? https://www.reddit.com/r/CommercialRealEstate/comments/s3el0n/my\\_stepdad\\_owns\\_a\\_property\\_worth\\_1015m\\_want\\_to/", "replies": [{"id": "igz7zhh", "text": "We got an unsolicited offer of $23M on his property", "replies": [], "depth": 2}], "depth": 1}, {"id": "igzhtc2", "text": "Grant Cardone is a moron.", "replies": [{"id": "igzw38i", "text": "Shhhh don\u2019t tell anyone but I\u2019m going to teach you how to become rich in real estate..", "replies": [], "depth": 2}, {"id": "ih50msb", "text": "I 10X that statement!", "replies": [{"id": "ih53wtx", "text": "He deleted the post \ud83d\ude02", "replies": [{"id": "ih54v8d", "text": "I 10X that deletion.", "replies": [{"id": "ih56a27", "text": "Let him fail. That\u2019s how you learn. I\u2019m not a proponent of buying properties in cash. But he should find a value add residential or commercial and flip it or rent it.\n\nBuy it cash. Learn. And flip.", "replies": [{"id": "ih56n9q", "text": "Eh, 24Mil is an expensive lesson.  And these people don't learn.  They just try to make it up in the next scam.", "replies": [{"id": "ih58suw", "text": "This is why I\u2019m glad I came from nothing. Still worth nothing. Working my way up strategically while learning lessons daily in every business decision I make.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "igzjadd", "text": "&gt;I'm looking at NNN. Can you help me?\n\nlmao. did a bot write this?", "replies": [{"id": "ih03tbm", "text": "It\u2019s not even a pointed question. Person hasn\u2019t even contacted a broker. Doesn\u2019t even know what NNN means. No deal on the table crazy if he really got the money to do something like this. I\u2019d be terrified.", "replies": [{"id": "ih1df6a", "text": "The hilarious part of all this is, he's going to leave this conversation saying \"*yeah...what the fuck ever....just a bunch of losers on Reddit....pretending they know shit about real estate....I'll show those idiots\"*.\n\nP T Barnum was spot on.", "replies": [], "depth": 3}], "depth": 2}, {"id": "ih67xcd", "text": "Navel News Network", "replies": [], "depth": 2}], "depth": 1}, {"id": "igzo7zj", "text": "I\u2019m curious about what else he said at the conference that has you interested in other CRE besides MF, didn\u2019t know he was into other asset types.", "replies": [{"id": "ih1dgkv", "text": "&gt;didn\u2019t know he was into other asset types.\n\nSuckers.", "replies": [], "depth": 2}, {"id": "ih1ugt3", "text": "Grant Cardone is all about Multi Family but when I learned about Matt's Story I knew I wanted to do NNN", "replies": [], "depth": 2}], "depth": 1}, {"id": "igzt23r", "text": "23 mill...that\u2019s a lot of cabins", "replies": [], "depth": 1}, {"id": "ih0115w", "text": "I\u2019ll answer any question you have and give you honest direction, but I want to know two things:\n1. How old are you\n2. What do you do for a living", "replies": [{"id": "ih21yhx", "text": "1. Sixteen\n2. He\u2019s an \u201centrepreneur\u201d if you consult his Instagram bio", "replies": [], "depth": 2}], "depth": 1}, {"id": "ih01upj", "text": "LOL. You are either too young, too naive, or a troll.\nDo you stepfather a favour and go get a real estate education or work experience before you burn his property, if anything you are saying is actually true.", "replies": [], "depth": 1}, {"id": "ih1d4k5", "text": "Don't even know where to start.\n\n(So I won't).", "replies": [], "depth": 1}, {"id": "ih1k26b", "text": "As soon as I read \u201cGrant Cardone\u201d I knew this was gonna be bad\u2026", "replies": [], "depth": 1}, {"id": "ih2gc27", "text": "Congrats\n\nFastest way to learn is to lose your own money on deals. \n\nOnce you got your feet wet doing that, then you use other peoples money", "replies": [{"id": "ih2jzpl", "text": "Watch Matt Onofrio's interviews he did it with no money... This is inaccurate, besides I plan to work with banks. They will not risk their money", "replies": [{"id": "ih334ol", "text": "No money means someone else\u2019s money. \n\nIf you plan to do that, let them know they will most likely lose their money and also make sure you file properly with the SEC. \n\nMaybe less then .001% of commercials building owners would be willing to carry with no money down. \n\nIf you find one, good luck.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ih2jz26", "text": "Why are you asking us for free help? For many of us, knowledge is our job. If you want to learn real estate, you can pay for the education and work for the experience. At this point, you don\u2019t seem educated enough to recognize the answers even if they were thrown in your face.\n\nEDIT: Matt Onofrio seems to have brokers doing the heavy work for him. He is the marketing piece. His start was through knowing people (surgeons) and connecting the dots. He put deals together by connecting professionals to people with money. I HIGHLY doubt he himself is worth $150MM. The company\u2019s portfolio might have a sale value that high, but what\u2019s their true equity and how much is debt? If you believe that they really own $150MM you\u2019ve fallen for his marketing. Oh and he\u2019s probably paying his partners a ton since they are doing most of the heavy lifting.\n\nCompanies with $150MM probably have more than  13 staff.", "replies": [], "depth": 1}]