Commercial Real Estate Investing

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Ethan Lahav
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costar free alternative?

Ethan Lahav
Posted Nov 24 2022, 11:08

Hey everyone

Be happy to get recommendations for doing rent comps. I've heard of costar but the pricing is unreasonable to say the least.

What are you guys using for market analysis and rent comps that is free?

Thanks

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Replied Nov 24 2022, 12:38

Curious if anyone knows of anything. For industrial I’ve just had to be scrappy

- scraping crexi and loopnet for listing rates 

- reading broker market reports 

- calling brokers on comp properties

Has not been efficient haha 

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Ronald Rohde#3 Commercial Real Estate Investing Contributor
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Ronald Rohde#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
Replied Nov 28 2022, 14:46
Quote from @Ethan Lahav:

Hey everyone

Be happy to get recommendations for doing rent comps. I've heard of costar but the pricing is unreasonable to say the least.

What are you guys using for market analysis and rent comps that is free?

Thanks


Why is it unreasonable? You're making millions of dollars on CRE, they have the best data set and no other competition. Call me for rates on one of my industrial properties and you'll get dialtone...

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Joseph Gozlan
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Joseph Gozlan
  • Real Estate Agent
  • Plano, TX
Replied Nov 29 2022, 14:39

It really depends on the asset type you're looking at. 

For Multifamily, Yardi is actually better than co-star in my opinion but is as expensive. That said, for multifamily, you don't need any of these tools for rent comps. Just go to apartments.com apartmentsguide.com rentpath.com etc. and search the area and you'll see all the asking rents in the neighborhood. 

For other asset classes in commercial, you'll have to get Costar or CRExi, I don't know of any free resource. 

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Replied Nov 29 2022, 20:06
Quote from @Joseph Gozlan:

It really depends on the asset type you're looking at. 

For Multifamily, Yardi is actually better than co-star in my opinion but is as expensive. That said, for multifamily, you don't need any of these tools for rent comps. Just go to apartments.com apartmentsguide.com rentpath.com etc. and search the area and you'll see all the asking rents in the neighborhood. 

For other asset classes in commercial, you'll have to get Costar or CRExi, I don't know of any free resource. 


My understanding is that both costar and crexi have cap rate comps for industrial. Do you know if either have signed lease data to get NNN rates?

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Ethan Lahav
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Ethan Lahav
Replied Nov 30 2022, 01:59
Quote from @Joseph Gozlan:

It really depends on the asset type you're looking at. 

For Multifamily, Yardi is actually better than co-star in my opinion but is as expensive. That said, for multifamily, you don't need any of these tools for rent comps. Just go to apartments.com apartmentsguide.com rentpath.com etc. and search the area and you'll see all the asking rents in the neighborhood. 

For other asset classes in commercial, you'll have to get Costar or CRExi, I don't know of any free resource. 


 Thank you Joseph :)

You forgot to send my that email we talked about over the phone :) 

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Joseph Gozlan
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Joseph Gozlan
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Replied Nov 30 2022, 06:26
Quote from @Geoff Byron:
Quote from @Joseph Gozlan:

It really depends on the asset type you're looking at. 

For Multifamily, Yardi is actually better than co-star in my opinion but is as expensive. That said, for multifamily, you don't need any of these tools for rent comps. Just go to apartments.com apartmentsguide.com rentpath.com etc. and search the area and you'll see all the asking rents in the neighborhood. 

For other asset classes in commercial, you'll have to get Costar or CRExi, I don't know of any free resource. 


My understanding is that both costar and crexi have cap rate comps for industrial. Do you know if either have signed lease data to get NNN rates?


 I know for sure that costar has some of it (not all data but a lot). I'm not sure about CRExi. 

As for cap rate comps, I'd highly recommend that you work with a local commercial broker that's knows the market well because cap rates have been moving really fast and all over the place in the last few months that looking at comps from 12 months ago or even 6 months ago can be deceiving!

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Replied Nov 30 2022, 09:52
Quote from @Joseph Gozlan:
Quote from @Geoff Byron:
Quote from @Joseph Gozlan:

It really depends on the asset type you're looking at. 

For Multifamily, Yardi is actually better than co-star in my opinion but is as expensive. That said, for multifamily, you don't need any of these tools for rent comps. Just go to apartments.com apartmentsguide.com rentpath.com etc. and search the area and you'll see all the asking rents in the neighborhood. 

For other asset classes in commercial, you'll have to get Costar or CRExi, I don't know of any free resource. 


My understanding is that both costar and crexi have cap rate comps for industrial. Do you know if either have signed lease data to get NNN rates?


 I know for sure that costar has some of it (not all data but a lot). I'm not sure about CRExi. 

As for cap rate comps, I'd highly recommend that you work with a local commercial broker that's knows the market well because cap rates have been moving really fast and all over the place in the last few months that looking at comps from 12 months ago or even 6 months ago can be deceiving!

Definitely, thanks!

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Ryan Phu
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Ryan Phu
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Replied Nov 30 2022, 16:45

You could split the Costar Subscription with someone, I'm thinking of doing that with my friend

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Ronald Rohde#3 Commercial Real Estate Investing Contributor
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Ronald Rohde#3 Commercial Real Estate Investing Contributor
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Replied Dec 1 2022, 07:28
Quote from @Ryan Phu:

You could split the Costar Subscription with someone, I'm thinking of doing that with my friend


 Be careful, they are constantly banning accounts based on IP logins,