Is LoopNet worth the membership price?
It depends on what you want to get out of Loopnet. If you are looking for access to listings then you might as well just hire a buyer's agent from Loopnet and they can search all the listings for you. They will represent you in the deal and it won't cost you anything. The reality is that when a listing gets to loopnet it has already been seen by so many investors like yourself that there are no homeruns on Loopnet. What are you looking for on Loopnet? I'm a licensed RE agent and i have a membership that is paid through my brokerage so I have access to list properties for sale. As an investor, I rarely, if ever, consider Loopnet a good source for quality deals.
I spotted a few deals on loopnet, but it only shows me premium listings. I'm not sure what I'm locked out of. My problem is, agents really don't seem to understand industrial/commercial needs. Door height & width are expensive to change. Height to the bottom of the roof trusses is a total deal killer.
I'm not even sure any of them even begin to understand 3 phase power and how big of a deal it is as far as usage, and how damn expensive it is to put a new 3 phase service in.
When I tell them I need to store and repair my equipment, they just don't seem to grasp the scale even if I show them pictures.
When I say my truck and forklift, I'm talking about this
And when I say I repair, move and set up big sandblasting equipment, I mean this.
King Industrial in GA specializes. You need to find an industrial broker in your area.
You want to find a broker on LoopNet for instance where all or most of their listing are Industrial.
Commercial is highly specialized. I do Retail and large Multifamily.
See if you have luck here finding an Industrial specialist in your area.
I agree with Joe. There are plenty of agents that specialize in Industrial. They will know exactly what you're talking about. Check out SIOR as Joe mentioned, CCIM, or even a local or regional office of CBRE or Cushman & Wakefield. Find a broker that will help you identify sites both listed and not listed online, you'll be glad you did.
Joe - I specialize in industrial. My company has 50 offices nationwide but none in Penn unfortunately. I think the best way you can find someone who knows that area and product is to search SIOR (http://www.sior.com/). This is an association with that has high standards. The agents I have found through there have always been very proficient and experienced. This should give you what you need.
I've come across some interesting small multi-families on loopnet, but you can get that for the free access too. And a good realtor should be able to find that information. It's just another source of information if you're a smaller investor, but if you want to focus your time, I'm not convinced it's all that useful.
Loop net is where deals go to die. Like mentioned, contact all of the Brokers and ask questions.
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