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BiggerPockets

Loopnet.com a good source of potential income property?

10 posts by 7 users

Edita D.

from fort worth, tx, Texas

Feb 05 '13, 04:02 PM


Hey guys!
Have you used loopnet to locate your next investment property? Or maybe realtor.com? Or would you recommend just contacting a realtor in the target area and requesting some MLS listings?
Thanks!
Edita



Joseph M.

Real Estate Investor from Los Angeles, California

Feb 05 '13, 04:25 PM


Loopnet is for commercial real estate.

So you won't find many Single family homes on there. Not sure if you are looking for commercial property or not. Generally it seems loopnet prices are pretty high. Realtors/Brokers do list on there but there seem to be a lot of investors/flippers that post ads on there as well.



Karen Margrave Moderator

Professional from Orange County, California

Feb 05 '13, 05:58 PM


We have used Loopnet many times in the past to list our commercial properties for sale. As far as listings, they are a good source for commercial listings. However; I've been going around with them lately because there's an agent in San Clemente that is advertising properties that aren't his. Not only are they not his listings, he knows that they were foreclosed on and sold, and he continues to advertise them. When I called the broker he told me to send in an offer. When asked if they were listed and if he had authority to represent them (I knew they had already been sold from researching them) he skated around, saying I could send him an offer.

I notified Loopnet a few times, and also emailed the broker telling him he should take the ad down. They're still on there, under the street Chula Vista.

It's the only time I've had a problem with anything listed on Loopnet.



Medium tmg  1 Karen Margrave, The Margrave Group #00636992
E-Mail: [email protected]
Telephone: 949-933-3955
Website: http://www.themargravegroup.com
Licensed Brokers & General Contractors R.E. Developers (Parlay Investments). Orange County CA


Carlos Flores

Investor from Dallas, Texas

Feb 05 '13, 06:56 PM


I wish could see all the listings on Loopnet, but alas I don't have Premium Subscriber access. From what I've seen, the prices do seem high as mentioned above.



Medium dreamstime l 17553651   copy crCarlos Flores, Stronger Communities Alliance, LLC
E-Mail: [email protected]
I pool investor funds together to acquire apartment complexes


Joseph M.

Real Estate Investor from Los Angeles, California

Feb 05 '13, 06:59 PM


Carlos, I have the same problem. I think with the free subscription you only see 1/3 of the properties on the market.

It's $50 a month if you sign up for a year subscription or $83 a month for monthly.



Sean Brennan

from Leominster, Massachusetts

Feb 05 '13, 07:00 PM


Loopnet is a very popular listing service for commercial property in my market. Our mls also has alot of commercial listings but they are smaller properties.



Sean Brennan,
E-Mail: [email protected]
Telephone: 617-620-4224
Real Estate Appraiser and Wannabe Investor


Sean Brennan

from Leominster, Massachusetts

Feb 05 '13, 07:02 PM


Also, ever since Costar bought them out there fees have doubled.



Sean Brennan,
E-Mail: [email protected]
Telephone: 617-620-4224
Real Estate Appraiser and Wannabe Investor


Joseph M.

Real Estate Investor from Los Angeles, California

Feb 05 '13, 07:03 PM


True, I am sure the reason they can charge the prices they do is because they don't really have any real competition.



Joel Owens Verified Moderator

Commercial Real Estate Broker from Canton, Georgia

Feb 05 '13, 10:33 PM


Edita it depends on what you are looking for. Retail, multifamily, triple net??

Some properties are posted on LoopNet but not all. I do have a premium membership so that I can access all properties. It's just a cost of doing business.



Medium allworldrealtyJoel Owens, All World Realty
E-Mail: [email protected]
Telephone: 678-779-2798
Website: http://www.AWcommercial.com
www.AWcommercial.com 678-779-2798 [email protected]


Uwe S.

Property Manager from Dublin, Ohio

Feb 06 '13, 01:09 AM


Originally posted by @Sean Brennan:
Also, ever since Costar bought them out there fees have doubled.

Time to breach this madness of profiteering.

-Uwe



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