Can good deals be found on listing sites?

Question

Can below market commercial real estate buys be found on listing sites (Loopnet, Commercial Alliance, etc.) or can these below market deals only be found by private sources (private referral, probate, etc)?

And if they can be found on listing sites, will they be recognizable as good buys, or will it take much negotiating and information hunting to recognize them?

Where have you found your best (most profitable) real estate investments?

Bryan Hancock · Answer

We bought an apartment complex in Killeen off of Loopnet for a song.  That was after MONTHS of searching though.

With all of the distress right now I would think that these sites are mostly a waste of time.  All of the good deals I find are via my network or ads I put out.

Bill Gulley · Answer

CLosed a wharehouse/offfice in Ft. Worth yesterday that came from spotting a FSBO sign from a distressed owner in a divorce, my son found it. Picked it up as the court ordered the sale and cut it off before it was ever listed, but it would have been, So, they will show up in listings.

However, I'm not familiar with nthese sites, so can't say, but I have never seen a "listing" that was a great deal, The broker or agent always jacks the price, since that is alos in their best interest.

I think the best deals come from keeping an ear to the ground, what's in the grapevine and knowing people in the area you're interested in. Bill

Vikram C. · Answer

Don, I had a subscription to CoStar for a about six months.  It's a really great site with a very nice interface.  I found some listings that looked interesting but they were in Jacksonville and other places that I was not very familiar with.  And just as I was getting more proficient with screening commercial properties, I happened upon the rehab business and am now engaged in that.  But I do plan to eventually use the listings sites when I am ready to start investing in commercial properties.

Bryan and Bill are right that the best deals are going to come through your network.  (For guys like me who don't have a network, the listing sites are not too bad.)

Bill Gulley · Answer

just putting your post up Don so it has a chane to be read! Thanks to the Arkansaw kid

Can good deals be found on listing sites?

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