Financing NNN Deals, with Miguel Jauregui

Welcome to the CRE Clarity Podcast with Jeremy Goodrich. In this episode, we delve into the net lease investment space with expert guest Miguel Jauregui. From mastering tenant selection to navigating the current lending landscape, Miguel shares valuable insights you don’t want to miss out on.

Learn more about Miguel and his story at creclarity.com!

“Some of those Amazon-proof businesses are where people want to be today.”

 

01:04

Miguel is specialized in the net lease asset class. He’s drawn to this asset class because of its lower management responsibilities and long-term stability. 

 

Miguel explains some hurdles new investors should understand about the net lease investment space.

• Understand the lease and the tenant.

• Choose tenants with a strong credit profile and high FICO score.

• Be prepared for a potential vacancy if you’re investing in a single-tenant property.

“The state matters. The city matters. It's something that you have to consistently consider because you're gonna see different cap rates in different places.”

 

11:34

Miguel is a debt expert. He shares his best advice on putting together the best debt stack for a property.

• Location matters. Don't solely base your decision on the tenant.

• Always run your deals through a financing professional, especially in today's volatile lending market.

• Build a strong profile and have a well-organized PFS.

“The bank is in the business of doing loans, not declining loans. They need to do loans, so be transparent with them.”

 

21:45

Toward the end of the episode, Miguel talks about how to navigate the lending process. The key is to be transparent with the lenders. Hiding any issues can ruin your long-term relationship with them.

 

There are still a lot of opportunities in today’s market. View high interest rates or potential vacancies as opportunities to find value and negotiate favorable terms. 

 

Miguel thinks that the market may be near its bottom. He anticipates market stabilization and potential improvement as interest rates decrease.

About our guest, Miguel Jauregui

Miguel has over ten years of real estate experience, developing his career from an analyst to his current role leading the capital markets team. Before joining SAB Capital, Miguel worked as a CRE Relationship Manager for Wells Fargo, as a Director of Investment Sales for Besen Partners, and was the NYC Co-Lead for Greysteel. In these roles, Miguel worked in multiple areas of the industry where he monitored over $170 million of real estate assets, brokered over $200 million of deals throughout New York City, and created relationships with capital market partners to support and educate his investor clients properly. 

Mentioned in the show:

1. His LinkedIn

2. Shineinsurance.com

3. www.shineinsurance.com/managing-commercial-real-estate-risk

4. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

 

Special thanks to Miguel Jauregui for taking the time to share so many great insights with us

 

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