I've been an avid LoopNet browser but heard in the recent BiggerPockets Podcast this is a last resort place to look. What has been your most successful method in finding deals?
Thanks for the info!
Here are the places I look:
- Loopnet and Crexi for commercial
- MLS (I have access)
- Open listing sites (Zillow, realtor.com, etc.)
- Inventory list from brokers.
- Many companies and brokers will let you view their active inventory on their website or offline. You can sign up for their mailing list and get alerts when they have new deals.
- I would talk to brokers in the area you are looking for and let them know your criteria. Do everything you can to provide information to them and prove your credibility. Once you've built a relationship you will be at the top of their list for investors they send deals to.
Deals can be found on any of them. It's just about seeing and getting to them quickly. Back when I was doing multifamily brokerage we occasionally came across some great deals on LoopNet that were posted by brokers who severely under-priced them. We had to act quickly and submit an offer the same day before they got bombarded with other offers.
Hope this helps!
Talking to neighbors of a property I already own.
They are the way I’m fixing up the house I have already own there. So I just tell them I’m looking for more.
Have purchased two properties like this which never were publicly put up for sale.