ATTENTION: For Those who are serious about Getting Pre-Qualified FAST!
Bill Rapp, Mortgage Originator: NMLS 228246
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HERE'S WHAT MY CLIENTS SAY:
What People Are Saying:
Excellent Service
Bill is an exceptional loan officer. He helped us to purchase our home with very personal and professional service. He helped us navigate the whole process from start to closing without any problems. We didn't think we're qualified to purchase a house, but Bill went above and beyond to find a way to help us achieve our goal. He always responded very quickly with our requests, he would come back with different options with comparison chart to clearly indicate how much we need for down payment, monthly payments, interest rates, closing costs etc.
We would highly recommend Bill to anyone in need of lending services. In fact, we have already recommended Bill to one of our friends on purchasing a house.
๏ปฟ--- David Chan - Houston, TX
Bank Statement Lending!
William Rapp of Network Funding, L. P. was very professional and I felt comfortable in dealing with him. I will definitely recommend him to family and friends.
๏ปฟ--- Ian F - Missouri City, TX
Professionalism - Expert In Home Style Loan
Bill is an expert in the topic, his explanations and online material make a difference and he is always there from the beginning to the end. He is committed to make thing happen.
๏ปฟ--- Felipe Caldern & Carolina Angel Gutierrez
Great Service!
Bill Rapp's handling of our loan (even though out of state) was unparalleled to any service I have been through prior, including 3 different real estate transactions and multiple refinances. Extremely quick close, with great options and flexibility for my families needs. All around A+
--- Chris & Beth Sheehan - San Jose, CA
Knowledgeable and Responsive!
Bill was a pleasure to work with and he made the loan process fairly easy. He answered all questions I had very quickly and was straight forward in doing it. I would recommend Bill to others.
--- Wes Brady - Richmond, TX
Very professional and always returned our calls!
Bill takes a lot of pride in his job and is very dependable. They were very patient and understanding. He went out of his way and explained all my questions and concerns. They were very professional and returned my phone calls and emails. He did a great job and I fully recommend him.
--- Therese, Malcom & Shirley Teixeira - Katy, TX
Great Job!
Bill helped us out from beginning to end of loan process. The loan closed in a timely manner as Bill worked hard with bank to get our to the final steps.
๏ปฟ--- Kamal & Theresa Wilson - Hartford, CT
Avid Problem-Solver and Absolute Pleasure to Work With!
Bill Rapp worked very hard to ensure that we closed our loan and were able to move into our new home. He always had alternatives to any problems we encountered while closing. He worked with us from the beginning identifying solutions to any problems that we were having. He was an absolute pleasure to work with!
--- Nikita Rayani & Sanit Tejani - Houston, TX
Awesome to work with!
Being a first-time buyer I came in with lots of questions and concerns. Bill was always available for any questions I had and answered everything to my satisfaction. Bill made the loan process so painless that I could still concentrate on other things. We ended up closing early which made things even better. If you are in need of a lender and want someone who is very approachable and stays on top of your loan then Bill is your guy.
--- Cesar Raya - Richmond, TX
Loan Declined by my bank, and he saved the day!
Bill, did an amazing job helping me close on my house. He took the reigns and reassured me the best route to take to help close. He was accountable, thorough and trustworthy. I will continue to work with Network Funding, L.P. when it comes to home buying in the future because of the quality of service Bill gave.
--- Jacob Smith - Boerne, TX
Bill Rapp Will Definitely Make It Happen!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Corinne Wilson - Roselle, NJ
Knowledgeable, Honest, Trustworthy, and Reliable!
"I will definitely keep you in mind. If anyone I know needs financing, I will send them your way!"
--- Jon & Andrea Saleem, CRPC Financial Advisor - Houston, TX
Best Dam Mortgage Guy a man could know!
"Hands down the best loan experience to date!"
--- Gabe & Chelsea Jackson - Pearland, TX
Phenomenal, Hard Working and Never Quits!
Had a stupid foreclosure that could have been avoided if exโs attny would have sent my buy out offer. So Bill was able to push this through with a 4 year foreclosure. He worked his butt off, was very diligent with his communication; and was very professional talking to me even when I was screaming and/or crying at him. Highly recommend this lender. He really go to the ends of the earth to help you!
--- Liz Keeter - Harlingen, TX
Exceptional customer service!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Isha Lopez & Mauricio Garcia - Houston, TX
Service with a capitol S
Bill went above and beyond at every turn. He worked late on Saturday, he worked late all the time. We wanted to close ASAP and he really helped make it happen for us.
--- Jeff & Wendy Heger - Houston, TX
Best Buying Experience!
I would would highly recommend going with Network Funding LP. As a first time home buyer I didn't know what to expect. Bill Rapp was very helpful in answering all my questions and guided me through all ghe steps. I couldn't have asked for a better buying experience!
--- Tabitha Turner - Humble, TX
Would recommend him and use him again!
Very involved and professional . Kept me informed and up to date on everything that was going on Went with me closing and was very helpful and knowledgeable.
--- Kathy Ward - Houston, TX
Great experience!
Well I meet bill back in December 2016 he got recommended by my real estate agent we had a house in sight and started the process to get approved but we fail due to my work history and credit bill told me not to give up and put me in contact with a credit repair company they help me bring my score up and bill walk me thru the process of getting a new line so this time around we got approved before looking for our house after we found it we still had a couple of hick up but with bills help on Sunday 6-18-17 to be exact Father's Day bill called me to give me the great news that we had got approved and the closing date was as scheduled bill was more than just a lender to my family he became a friend and I'm alway going to have him in mind for any other financial situation.
--- Alejandres Felimon - Richmond, TX
I really liked his attitude!
I wouldn't usually say this but the way he had handled my mortgage was really pleasant. I personally enjoyed the time spent with him while we discussed feasible rates. He's a great man with a great personality and he offered really low interests as well. Definitely recommend him to others.
--- Tom Troiano - Atlantic City, NJ
He's nothing short of a miracle!
I'm a self-employed businessman and had him figure out the mortgage of the house after 30% down payment. The interest rates I received were incredibly low given what I had thought of earlier. One other important thing to note was that I hadn't really taken any loans earlier, so I had no credit history. He helped me out with all that as well so I can't really call him anything else but a miracle.
--- Fran Suarez - Cleveland, OH
He's really helpful!
I made a bid to him and the very same day he gave me an offer which I couldn't resist. It was too intimidating with those incredibly low interest rates and all, thoroughly recommend him.
--- Kenny Mickle - Houston, TX
Expeditious!
Bill was very expeditious and made it real easy going through the loan process. I felt he was on top of things.
I deal with investment properties and will more than likely call on him again.
--- Wayne King - Pensacola, FL
Bill was great!
Bill made us feel like a friend all the way thru the process. He was patient and explained everything he needed clearly. He was available ANYTIME we had questions or needed more information. Hopefully we wonโt go thru this process again anytime soon, but if we do - weโd choose Bill! =)
--- Barbra & Nick Grimmer - Austin, TX
Great broker!
Bill was a great broker to work with. As first time home buyers we had many questions about the process, Bill took the time to help us even calling us back on weekends with answers. I would not hesitate to recommend him to anyone looking for a broker to work with.
--- Murray & Lisa Turner - Pensacola, FL
Outstanding service!
I couldn't have been more pleased with Bill's level of service. He made what is typically a lengthy, arduous process far quicker and easier at every turn. I'm extremely comfortable recommending Bill to friends and family, and will definitely utilize his services again!
--- Jim Lipari - Austin, TX
Step-by-Step Guide to the VA Loan Process
6 Easy Steps to a VA Loan
For many borrowers, applying for any kind of mortgage may seem daunting.
But, when broken down, this rundown of 6 steps to getting a VA loan is easy to understand.
1. Select a VA-approved Lender
On the surface, it might appear that any lender will do. However, if you dig a little deeper, you may discover that not all lenders are the same. First, only lenders approved by the U.S. Department of Veterans Affairs can originate VA mortgages. Secondly, some lenders focus primarily on conventional loans, while others concentrate almost exclusively on the VA loan program for military clients. Using a VA specialty lender with extensive knowledge about the VA loan process vs. a lender who only funds a few VA mortgages a year may translate into an easier and quicker loan process. To connect with a VA specialty lender, please click here.
2. Obtain a Certificate of Eligibility (COE)
An experienced lender can help you obtain whatโs called a Certificate of Eligibility (COE). The COE will prove that you meet initial eligibility standards for VA loan benefits. It will also let the lender know how much entitlement you can receive, which is the amount the Department of Veterans Affairs will guarantee on your VA loan. To get your COE, youโll need to give your lender a bit of information about your military service. Usually, a COE can be acquired online instantly through a lenderโs portal or through the eBenefits portal on the va.gov website. Those servicemembers or surviving spouses whose COEs cannot be obtained online will have to get theirs by mail. A VA lender or the VA can help direct you to the right resource for your specific situation.
3. Pre-Qualify for Your Loan Amount
Pre-qualifying is important, but not required. By choosing to complete this step you can save some time and potential surprises later in the process. To pre-qualify for your loan amount, youโll have a candid conversation with your VA loan professional about your income, credit history, employment, marital status and other factors. Giving your lender complete details during the pre-qualifying step can help prevent surprises later during underwriting. The pre-qualifying step can also reveal areas that need improvement before you can be approved, such as credit or debt-to-income ratio. While a prequalification letter gives you a ballpark price range for house hunting, it does not guarantee that you will be approved for a loan, and your lender will later have to verify the information you provide. To get a loan requires later final approval by underwriting once all documents have been received and reviewed (see Step 5).
4. Go House Hunting & Find Home
The fourth step is usually one borrowers enjoy because they get to look at homes they might consider buying. Working with a real estate professional who specializes in the VA process can help you get the most out of your benefits. This is true because the VA allows certain fees and costs to be paid by the seller (if both you and the seller agree), and a knowledgeable agent will know this and help you negotiate seller-paid fees. Once youโve got a signed purchase agreement, you can move forward in the VA loan process.
5. Lender Processes Application
& Orders VA Appraisal
A signed purchase contract is the document youโll need to finish your initial application. Once your lender has the contract, they will order the VA appraisal. Here again, not just any appraiser will do. Only a professional who is certified to perform appraisals to VA standards can evaluate the home being considered for VA financing. The VA appraiser will make sure the price youโve agreed to pay for the home corresponds with the current value. Another very important part of the VA appraisal is to inspect the home to make sure it meets the VA minimum property requirements (VA MPRs). However, the VA appraisal does not take the place of a home inspection, which focuses on code violations, defects and the condition of the property. While many borrowers have heard horror stories about the length of the VA appraisal process, the Department of Veterans Affairs gives the appraisers 10 days from order to completion barring extenuating circumstances. While youโre waiting for appraisal documents, youโll be busy submitting documents of your own to your VA-approved lender to show you have the ability to qualify for the loan. If the home passes appraisal for value and VA minimum property requirements, and itโs verified by the lender that you qualify for your loan, the underwriter will give his or her stamp of approval.
6. Close on Your Loan and Move In
After being approved by the underwriter, all that is left to do is close and move in. During closing, the property legally transfers from the former owner to you. Closing is a step that requires you to sign documents that confirm you understand and agree to the terms of the loan. You will need to provide proof of homeowners insurance and, if required, pay closing costs. Once youโve signed all your closing documents, youโll get the keys to your new home.
While these steps may not happen in the order above or be a required part (such as prequalification)*, they represent the typical process for the applicant in obtaining a VA purchase loan. Your lender may need to take other steps. For more information about VA loans, contact an experienced VA-approved lender.
My best advice to you is to call Bill Rapp, the Mortgage Viking, today to discuss your options 281-222-0433.
๐ข Triple Net (NNN) Properties Explained: Single vs. Multi-Tenant Investments ๐ฐ
๐ข Triple Net (NNN) Properties Explained: Single vs. Multi-Tenant Investments ๐ฐ
๐ Triple Net (NNN) Real Estate: Pros, Cons & Which Investment Is Right for You? ๐
Triple Net (NNN) Properties: Single-Tenant vs. Multi-Tenant Investments โ Pros and Cons
Commercial real estate investors are constantly searching for investment opportunities that generate reliable cash flow while minimizing management responsibilities. One of the most popular asset classes for passive investors is the Triple Net (NNN) property.
But should you invest in a single-tenant NNN property or a multi-tenant NNN shopping center?
Each offers unique advantages and risks. Understanding the differences can help investors make better purchasing decisions and obtain financing that aligns with their investment strategy.
As a commercial mortgage advisor with CommLoan, I help investors evaluate financing options across hundreds of lenders while identifying the right loan structure for each property type.
What is a Triple Net (NNN) Lease?
A Triple Net Lease (NNN) requires the tenant to pay:
ยทProperty Taxes
ยทBuilding Insurance
ยทProperty Maintenance
The landlord typically receives rental income while avoiding many of the operating expenses associated with traditional commercial properties.
Because tenants absorb most operating costs, NNN investments often provide:
ยทPredictable cash flow
ยทLower management responsibilities
ยทLong-term leases
ยทStable income
Single-Tenant NNN Properties
Single-tenant properties lease the entire building to one business.
Examples include:
ยทStarbucks
ยทChick-fil-A
ยทWalgreens
ยทCVS
ยทDollar General
ยทAutoZone
ยท7-Eleven
ยทFast-food restaurants
ยทMedical clinics
ยทBanks
Investors often refer to these as "coupon clipper" investments because of their consistent income.
Advantages
Simple Ownership
Only one tenant.
One lease.
Minimal management.
Long-Term Leases
Many leases range from:
ยท10 years
ยท15 years
ยท20 years
Some include renewal options extending occupancy for decades.
Predictable Cash Flow
Most leases include scheduled rent increases.
Income is easy to forecast.
Creditworthy Tenants
National retailers often carry investment-grade credit ratings, reducing perceived investment risk.
Easier Property Management
The tenant generally handles:
ยทRepairs
ยทLandscaping
ยทTaxes
ยทInsurance
ยทBuilding maintenance
Disadvantages
Vacancy Risk
If the tenant leaves:
Rental income immediately drops to zero.
There are no additional tenants producing income.
Tenant Credit Matters
One struggling company can dramatically affect property value.
Market Value Depends on Lease
The remaining lease term often influences:
ยทCap rate
ยทFinancing
ยทProperty value
As lease terms shorten, investor demand may decline.
Multi-Tenant NNN Centers
These properties include multiple tenants sharing one shopping center or commercial building.
Examples include:
ยทRetail strip centers
ยทNeighborhood shopping centers
ยทMedical office plazas
ยทProfessional office buildings
Advantages
Multiple Income Streams
If one tenant leaves:
Other tenants continue paying rent.
Cash flow continues.
Lower Vacancy Risk
Diversification reduces dependence on one business.
Value-Add Opportunities
Owners can:
ยทIncrease rents
ยทImprove occupancy
ยทAdd tenants
ยทRenovate common areas
ยทIncrease NOI
Higher NOI generally increases property value.
Strong Long-Term Appreciation
Successful management can significantly increase investment returns.
Disadvantages
Higher Management Requirements
Owners often oversee:
ยทCommon Area Maintenance (CAM)
ยทParking lots
ยทRoofs
ยทHVAC systems
ยทLandscaping
ยทTenant coordination
Lease Expiration Risk
Multiple leases may expire simultaneously.
Renewal planning becomes critical.
Greater Capital Needs
Owners should budget for:
ยทTenant improvements
ยทLeasing commissions
ยทCapital expenditures
Financing Triple Net Properties
Lenders evaluate several factors when financing NNN properties.
Key underwriting considerations include:
Tenant Credit
National credit tenants generally receive more favorable financing.
Remaining Lease Term
Longer remaining lease terms often improve financing options.
Property Location
Strong demographics and visibility improve lender confidence.
Debt Service Coverage Ratio (DSCR)
Lenders want sufficient property cash flow to comfortably cover debt payments.
Occupancy
Higher occupancy generally results in better loan terms.
Which Investment is Better?
There isn't a universal answer.
Single-Tenant NNN May Be Better If You Want:
ยทPassive ownership
ยทStable cash flow
ยทMinimal management
ยทLong-term predictable income
Multi-Tenant May Be Better If You Want:
ยทHigher returns
ยทAppreciation potential
ยทPortfolio growth
ยทActive asset management
ยทMultiple income sources
Many experienced investors own both.
Current Market Trends
Today's investors continue pursuing NNN properties because they offer:
ยทInflation-resistant rental increases
ยทStable cash flow
ยทInstitutional-quality tenants
ยทPortfolio diversification
ยทStrong lender interest
Cap rates vary considerably depending upon:
ยทTenant quality
ยทLease length
ยทProperty age
ยทMarket conditions
ยทInterest rates
Working with an experienced commercial mortgage broker helps investors compare financing from numerous lenders instead of relying on a single bank.
How CommLoan Can Help
Every Triple Net investment is unique.
Through CommLoan's nationwide marketplace of more than 700 lenders, we help investors compare financing options for:
ยทSingle-Tenant NNN Properties
ยทRetail Centers
ยทMedical Office Buildings
ยทMixed-Use Developments
ยทOffice Buildings
ยทIndustrial Properties
ยทMultifamily Investments
The right financing structure can improve cash flow, increase investment returns, and position your portfolio for long-term growth.
Whether you're purchasing your first NNN property or expanding a national investment portfolio, having access to multiple lending options can make a significant difference.
Final Thoughts
Triple Net properties remain one of the most attractive commercial real estate investments available today.
Single-tenant properties offer simplicity and stability, while multi-tenant investments provide diversification and greater upside potential.
Understanding the trade-offsโand securing financing tailored to your investment goalsโcan help you maximize both cash flow and long-term returns.
If you're considering purchasing or refinancing an NNN property, I'd be happy to help you evaluate financing options through CommLoan's nationwide lending marketplace.
Bill Rapp, CCIM
Director | CommLoan
๐ 281-222-0433
๐ง [email protected]
๐ https://billrapp.commloan.com/
๐ https://HoustonCommercialMortgage.com/
Commercial Real Estate Financing Nationwide
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ยฉBill Rapp, CCIM - Director - CommLoan
Main Office:
Medallion Funds
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