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The speaker reflects on their experience with a triple net lease after owning a building with six commercial units for over three years. They realize they missed out on significant profits by not implementing this leasing strategy sooner. A triple net lease requires tenants to cover base rent and additional expenses, including taxes, insurance, and maintenance costs, while the landlord retains responsibility for the building's roof, HVAC, and structure. Previously, the five smaller units were rented for $850 each, but the new strategy will likely increase revenue. The speaker emphasizes the importance of learning from experiences in real estate.
