E248: From Pharmacy to Real Estate with Claude Condo

Ever heard of the triple lease model? This model is amazing if you have a rental property or you’re thinking of having one, and it’s as passive as it can get.

In today’s episode, Erik Cabral speaks with real estate investor Claude Condo about the concept of triple net lease and how he has found his niche market, leasing his space to dialysis centers. Claude founded Rx Real Estate Investment as a way to make commercial real estate investments available to pharmacists, and healthcare communities. Claude is on a mission to help pharmacists and other healthcare professionals achieve financial freedom through commercial real estate investing.

Here are some power takeaways from today’s conversation:

• Claude’s eureka moment
• His first real estate investment
• What a triple net lease is
• Why dialysis centers are the perfect market for a triple net lease
• Leveraging partnerships

Episode Highlights:

[18:05] What is a Triple Net Lease?

A triple net lease is a lease agreement where the tenant is responsible for the property taxes and property insurance. They are responsible for any repair and maintenance on the property and you're just getting the check. Depending on the agreement, you may be responsible for the structure, sometimes for the roofing or the parking space, but anything else is done by the tenants. In exchange, you’re usually getting a long-term lease.

As for Claude, he found that dialysis centers are the perfect market for this type of lease because first, they need space. Second, they don’t want to own property. Many dialysis centers are owned by retired nephrologists who are trying to get out of the business. As an investor, this is an opportunity for you to get a higher cap rate and get your passive income right from day one versus waiting for appreciation.

Resources Mentioned:

LinkedIn: www.linkedin.com/in/claude-condo-rph-730a20181

Rich Dad Poor Dad by Robert Kiyosaki

The Power of Your Subconscious Mind by Joseph Murphy

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