I have been associated with TripleNet Gateway representative since 2010 when we sold our self storage facility. At that time it was the largest deal we had ever done. To this day I don’t know how I lucked out finding him but it was luck. We were going to do a 1031 exchange and I knew NOTHING about the exchange rules or the time frame to complete one. I was franticly looking for the right property to make sure I could find the safest and the right one to purchase. My. My rep impressed me right away when we first met him. His attention to detail and his knowledge of the products he covered—whether it was a property, different loan types, or all of the exchange rules—he knew how to do it in great depth and detail.
So our 45 day period was upon us, I was in touch with him daily and finally we chose two out of three choices that were with him. We ended up buying a retail center in Mesa, AZ that he had recommended. Two or three months later I took my entire IRA retirement and bought into three other retail centers in Arizona that he had recommended. During the time of ownership, I discovered that I did not care for the retail centers. Because he knew that I was more of a hands-on type of owner, we sold out of all four strip centers. For the IRA investments I did not lose any money on the sales nor did he charge me any commissions. For the 1031 investment, I made approximately 68% profit on my money in one year (including cash flow)!
At that point, I was looking again for another property to do another 1031 exchange. While I was looking, I realized that I kept going back to self storage but I just could not find what I wanted, so with about 10 days to go before the identification date I found a self storage in Nevada. I went back to my rep and asked him to look over the self storage for us. I asked him if he would be interested in putting the offer and deal together for us. We did buy the self storage however it was not enough to cover the entire replacement cost, so my rep sold us a buffer piece of a new seven-store net-leased portfolio to finish covering the entire exchange. This is where his experience and work ethic paid off. It was a very complicated deal that had many angles to cover. All of his suggestions worked out exactly the way he had planned it; resulting in many benefits to our family.
This man stuck with us through thick and thin even though there were times I was very difficult, he has continued to work with me. He has kept his word and never gone back on it; he has always had my family’s best interest at heart and these traits are very difficult to find these days. As for his company, all of the people that I have dealt with have been very respectful to my wife and me.
I look forward to many more endeavors with you and your company in future years to come.
Dominick and Ximena Valenti
Real Estate Owner, Developer, and Asset Manager of Self-Storage