Building Wealth Through Net Lease Real Estate with Todd Stender
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In this episode of Mission Matters Money, host Adam Torres welcomes Todd Stender, Managing Director at L&L Capital, to discuss building wealth through net lease real estate investing. Todd shares his journey from childhood experiences helping with family properties in New Jersey to a Wall Street career as an equity analyst covering REITs post-GFC, where he gained deep insight into commercial real estate dynamics. He explains how L&L Capital specializes in private credit within the net lease space—providing construction, bridge, and mezzanine financing for developers building high-traffic, long-term leased properties like fast-food drive-thrus, 7-Elevens, and convenience stores. The conversation highlights the stability of triple net leases, with 15-year contracts and rent escalations that hedge against inflation, making them attractive for investors seeking predictable income and tax efficiency. Todd emphasizes the firm’s nationwide approach, with growing interest from U.S., Canadian, and international high-net-worth investors and institutions, especially as interest rates stabilize. He also discusses the strategic positioning of net lease real estate as a compelling alternative asset class within diversified portfolios.
Net lease real estate offers long-term, stable income with rent escalations that protect against inflation.
L&L Capital focuses on private credit for developers building essential, high-traffic properties like fast-food restaurants and convenience stores.
The net lease model shifts most operating expenses to the tenant, creating a highly passive and predictable income stream for investors.
Geographic diversification is key—L&L Capital invests across all 50 U.S. states, with growing interest in Sun Belt regions due to population migration.
Net lease real estate is an ideal alternative asset class for institutional and high-net-worth investors seeking stability beyond traditional stocks and bonds.
Introduction and Guest Welcome
Adam Torres introduces the episode and welcomes Todd Stender, Managing Director at L&L Capital, setting the stage for a discussion on net lease real estate investing.
Todd's Early Real Estate Roots
Todd shares his childhood experience managing family properties in New Jersey, starting at age 10–11, which laid the foundation for his lifelong connection to real estate.
Wall Street Career and REIT Analysis
Todd recounts his transition from hands-on property work to a Wall Street equity analyst role covering REITs post-GFC, gaining insight into commercial real estate during a volatile recovery period.
The Rise of Net Lease Real Estate
“You've got this 15-year lease, your tenant is in place, you know what the rent's going to be for the next 15 years. Rent goes up definitely most often annually, sometimes every five years. So you'll probably get either 2% every year or 10% every five years. And so by the rent going up, it keeps up with inflation.”
Portfolio Fit and Investor Appeal
Todd discusses how net lease real estate fits into modern investment portfolios as a stable, tax-efficient alternative asset class with inflation protection and strong income generation.
“You've got this 15-year lease, your tenant is in place, you know what the rent's going to be for the next 15 years. Rent goes up definitely most often annually, sometimes every five years. So you'll probably get either 2% every year or 10% every five years. And so by the rent going up, it keeps up with inflation.”
“There's a huge opportunity in the U.S. to consolidate this real estate because there are so many properties that you and I and everyone listening drives by every day.”
“It was tough because investors were cautious. They got burned real estate.”
Host
Guest
L&L Capital
organization
Todd Stender
person
Adam Torres
person
REITs
other
Triple Net Lease
other
Mission Matters Money
media
Global Financial Crisis
other
New Jersey
place
Wall Street
organization
7-Eleven
brand
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