Real Estate Exam [California] 48, Commercial, Industrial, and Income Properties

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:
- A triple net (NNN) lease requires the tenant to pay for property taxes, insurance, and maintenance (TIM).
- A percentage lease, common in retail, includes a base rent plus a percentage of the tenant's gross sales.
- The capitalization rate formula is Net Operating Income (NOI) divided by the property's value; mortgage payments are not included in NOI.
- An estoppel certificate is a document signed by a tenant that confirms their current lease terms for a prospective buyer or lender.
- Environmental due diligence, such as a Phase I Environmental Site Assessment, is crucial for identifying potential contamination and liability for commercial property buyers.

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