Best tool for searching for Commercial Properties

[David Coronado]

Hey Everyone,

I've been buying residential properties and renovating them for the past two years. Then have made a return after refinancing after leasing them out. I am now interested in buying and developing commercial properties. I am working with a architect and have access to capital. I'm curious to know what have been some the best/favorite tools you have used to find commercial properties?

Here is a list of my current tools:

-Property Shark (to look up details of off-market properties)

-Loopnet (See what is on the market now)



Bonus question: Is Loopnet a good resource for Commercial MLS Search?

Thanks,

David

[Don Konipol]

Most investors think that the properties offered or sale on Loopnet are previously marketed, rejected, overpriced, and /or inferior.

For the most part I agree.  However, if you are willing to negotiate an offer far below the asking price, you can find a reasonable deal.

Since a commercial MLS system does not exist (Loopnet and others are property listing companies, not Multiple Listing Services), all brokers I know of have lists of clients looking for specfic property types and if they obtain a listing and the property is at all attractive or priced within reason, it will be sold in house and never reach the Loopnet market.

A few years back I sold a 20 unit apartment building in Arlington, Texas.  The listing broker asked all his apartment buyers, and all the other broker's in the company called their buyers, and we received 8 offers in one week.