Investor · Austin, TX · Member since 2022 · 68 posts · 52 votes
Me and my wife are Residential Real Estate Investors for the past couple years. We have couple turnkeys, and couple of BRRRs that we did so far (all are single family residential properties with long-term tenants).
We are interested in exploring commercial real estate, and wanted to get all of your help in getting started. Some basic questions to start with: 1. Is there something like off-market commercial deals where I can search them (like Investorlift or New Western for residential) ? 2. I did check Loopnet and it's all listed for sale by brokers and agents, so I don't think it is off-market -- right?
Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
1y
@Akshay Bhaskaran, off market deals, by nature are not marketed, so as others noted you have to work to find them. As others noted, talk to brokers. Call owners directly and send letters/mailers. The process for commercial properties is basically the same as residential properties, so it takes work.
Again, echoing Dominic, a good investment is a good investment, whether you spent 8 months courting an owner to get them to sell to you, or whether it is on CBRE/Cushman/Marcus/Loopnet or any other brokerage website. Most sellers that are open to selling you a deal off-market are just like I was with my rentals: the way to motivate them to sell is to give them a price HIGHER than they think they can get on the market. Remember, if a deal is truly off market, you have an owner who knows they are able to sell and is choosing not to take the very simple step of listing it. I know this is not all owners, but a majority fall into this camp.
Me and my wife are Residential Real Estate Investors for the past couple years. We have couple turnkeys, and couple of BRRRs that we did so far (all are single family residential properties with long-term tenants).
We are interested in exploring commercial real estate, and wanted to get all of your help in getting started. Some basic questions to start with: 1. Is there something like off-market commercial deals where I can search them (like Investorlift or New Western for residential) ? 2. I did check Loopnet and it's all listed for sale by brokers and agents, so I don't think it is off-market -- right? 3. Are there wholesalers who focus on Commercial off-market properties?
TIA.
Off market commercial properties are usually shared through relationships or brokers. It’s a lot less formal than the residential side. LoopNet will have on market deals.
That being said, I’ve seen plenty of awful off market deals and plenty of solid on market deals. I’ve hit multiple home runs off deals I found on LoopNet. I think partially because a lot of folks don’t even check it.
If you’re interested in getting more off market deals I would suggest starting relationships with brokers that sell the types of properties you’re interested in. But keep in mind, the top of their list is going to be people that they’ve worked with in the past and probably closed deals with. Meet ups could be a good source too since you’re in a big market.
Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
1y
@Akshay Bhaskaran, off market deals, by nature are not marketed, so as others noted you have to work to find them. As others noted, talk to brokers. Call owners directly and send letters/mailers. The process for commercial properties is basically the same as residential properties, so it takes work.
Again, echoing Dominic, a good investment is a good investment, whether you spent 8 months courting an owner to get them to sell to you, or whether it is on CBRE/Cushman/Marcus/Loopnet or any other brokerage website. Most sellers that are open to selling you a deal off-market are just like I was with my rentals: the way to motivate them to sell is to give them a price HIGHER than they think they can get on the market. Remember, if a deal is truly off market, you have an owner who knows they are able to sell and is choosing not to take the very simple step of listing it. I know this is not all owners, but a majority fall into this camp.
Austin, TX · Member since 2025 · 4 posts · 0 votes
1y
Hey Akshay. Personally, my favorite way of sourcing deals is building relationships with brokers and nurturing those relationships by checking in consistently. Also, going to send you a pm. I might have something for you.
Realtor · Scranton / Pocono Mountains, PA · Member since 2020 · 99 posts · 33 votes
1y
I am not aware of a FSBO business website. I would join local business networking groups to get inside deals. I also often see local businesses selling their business and locations on facebook fairly often, atleast in my area. You could also try looking up money judgements filed against local businesses at the magistrate level and target them with direct mail or driving for dollars.