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In this episode, I sit down with Alan Fruitman—broker, author, and triple net property expert—to dive deep into the lesser-known world of NNN investing. Alan shares how these investments offer truly passive income with none of the headaches of traditional real estate, and why they’re a perfect fit for seasoned investors looking to simplify their portfolios.
We cover everything from ground leases and 1031 exchanges to what really drives cap rates—and why the biggest risk isn’t tenant failure, but choosing the wrong location. If you’ve ever wanted a “set it and forget it” real estate investment, this episode will change how you think about wealth preservation, tenant control, and cash flow.
Episode Highlights:
[0:00] – Introduction
[1:12] – Who actually buys triple net properties—and why
[2:04] – What “triple net” really means (and why most leases don’t qualify)
[5:16] – Why Starbucks may have a strong brand but weak leases
[7:24] – Understanding ground leases and their tax implications
[9:01] – What landlords can do if a tenant doesn’t maintain the property
[12:25] – Franchise vs. corporate tenants: which is better and when
[14:49] – Why a tenant leaving can be a good thing
[16:06] – How rent escalations and lease renewals are typically structured
[17:29] – What to look for (and avoid) in a lease
[19:35] – Due diligence tips for assessing tenant credit
[20:39] – How cap rates vary depending on risk profile
[23:15] – The impact of rising interest rates on triple net values
[25:11] – Why most NNN deals are all-cash—and who that strategy fits best
[26:54] – Why triple nets don’t usually see distress, even in downturns
[28:14] – What Alan’s book teaches about this asset class
[29:09] – Why location still trumps everything—even with national tenants
[31:44] – How to get started looking at NNN deals the smart way
[34:03] – A compelling case for why triple nets deserve more attention
5 Key Takeaways
Triple net is one of the only truly passive forms of direct real estate ownership.
Not all NNN leases are created equal—many exclude major responsibilities like roof or structure.
Cap rates are driven by location, tenant credit, and lease term—not just the brand name.
Ground leases offer instant equity, but less depreciation—ideal for equity-focused investors.
This is a strategy built for mature investors seeking simplicity, not forced value-add plays.
Links & Resources:
1031tax.com – Alan’s platform for nationwide triple net property brokerage
The Triple Net Property Book (Amazon) – Learn NNN fundamentals in 2 hours
Call Alan directly: 1-800-454-0015 to discuss your goals or request a free copy of the book
Free daily property list sign-up available at 1031tax.com
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