Loopnet & Costar

Do anyone on this site have a premium membership at either Loopnet.com or Costar.com?

I am sure that several do. Why do you ask?

I don’t know if anybody would do this for but, it never hurt to ask. Im just now starting in commercial real estate, but I don’t have any money whatsoever. There are so many apartment building where I live, my plan was to wholesale some of those buildings to buy and hold investors. One of the main things I need to do is build my buyers list. I feel like some of the best sites to find commercial investors are on Costar and Loopnet. Because I don’t have access to the full site I’m not able to network with some of these investors. I was going to pull the sale comps around my area, find the investors whose brought properties in my targeted area, and either call or try to mail them a letter basically stating that I want to wholesale deals to them. I don’t have access to those sites, so I want to know if someone will do that for me?

Any takers? :biggrin

Look in your county’s tax records and see who owns particular properties. If it comes up with a business name, you can then go to the Secretary of State’s website and enter the business information to find out an address for the business.
This should all be free and accomplish what you’re seeking.

In my county they keep all the records in a file called the “Land use code”. The Land use code is boken down into categories. Example, people who own 2-5units is (A1), people who own 5-10units is (A2)…etc etc. To get those files cost 135 dollars. Ill figure out something

Check out prospectnow. It’s a great tool for sourcing owner records with phone number look ups.

CRE is going to be much more difficult than SFR because it is a professional network. If they don’t know you or haven’t heard of your company, it’s going to be tough. These aren’t unsophisticated investors looking to flip a home because they read a how-to book, these are typically very professional companies and investors with many years of experience in Real Estate. I’m not saying it can’t be done, I’m just saying that we get calls all the time about “off market” deals, and 99% of them are people who don’t have any real connections or any real assets tied up, so unfortunately those kind of calls are often ignored.

I would recommend identifying who the owners and operators are first. Spend a few days visiting properties. Today I shopped 5 or so apartment communities in about 2 hours and I can tell you exactly who the owners are, who the managers are, what the property needs in order to be successful, what I would pay to buy them, etc… Find out who the management company is, look them up online and read about them.

If you’re looking at the small stuff, under 50 units or so, I would try tax records. Google every bit of info you have until you find out who the owner is. Aside from that, you really need to begin to grow your network. Go to a few CRE functions and start meeting people. I would also join the mailing lists of all the big brokers that way you can figure out who-is-who in your town.