Has anyone ever bought there first property off of LoopNet? How was your experience? Is LoopNet something you recommend when starting out in search of your first wholesale, flip or buy and hold investment?
It’s a great resource but I don’t think it’s beneficial for residential wholesale. It’s basically the MLS for commercial properties.
So pretty much anything 5 units and above?
There is Residential properties under 5 units and anything over 5, is commerical, it’s a great resource for comparisons and looking if you are interested in investing in commercials
Seems like a good resource for commercial deals.
Thanks you guys for the feed back.
Yes. I believe the best way to find wholesale deals is by direct mailers, cold calls, and knocking on doors.
When you find something on a listing source it's most likely too late to wholesale however it can be done. You just have to get something under contract for much less than it's worth. Let me know if I can help out anymore.
LoopNet is mainly used for commercial deals only.
@Matthew Teifke that makes perfect sense.
it's the leftovers.... the good deals don't even make it there. But that doesn't mean you can't get a deal from there, you just have to know the numbers well and get it to a point that make sense.
@Demario Lewis Hey Demario, you know, LoopNet is an interesting site. From the commercial side, it appears that the deals that hit LoopNet are typically the ones the commercial brokers can't move within their tight network of investors. So, one must question a commercial deal that hits LoopNet and then sit for a while.
On the other hand, you may be able to find some good smaller deals on LoopNet just as you can on the MLS. In some instances, it is all about speed and timing. As soon as a good deal gets online you can quickly snap it up.
Hope this helps. Good luck. Thanks! - Ola
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