Has anyone used loopnet?

2 Replies

Has anyone used loopnet? Seems like a good resource the cap numbers seem a little high? Yes if I find a deal I will personally walk throw the property get and inspect and run my own numbers. I am looking at multi family Property’s.

I've been looking at loopnet for practice. I only have one SFH rental at the moment, plus the house I live in. I'm taking my time. I agree with other posters that loopnet are the deals the pros don't want. hahaha! I found a multi unit in my area, but I suspect it may have had flooding issues, plus, it looked like the person bought it at to top of the bubble.

Then I saw a multiunit in the area I grew up in. horrible, horrible condition the houses were in, plus not that great of an area. I would not pay the asking price for where it was and what they appeared to need just in the photos. (one had a run of gutter that didn't even go to the end of the house, it was short like a foot, lolol)

In fact, I sometimes question any properties that investors don't want to keep in their portfolio.

I've looked at several loopnet properties in my markets. I find them generally overpriced. often the financial forecasts are pure fiction, for example rent increases in a rent control building. also they leave listings up long after the property is in contract or even sold. so I only look at recent listings. so far everything has had some kind of dealbreaker issue once i start asking the hard questions. for me loopnet is like going to the beach with a metal detector...

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