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How to Find Attractive Commercial Real
Estate for Sale Using the Internet
As a new Professional Commercial Real Estate Property
Scout, one of the first things people learn is how to
find promising properties which could be attractive
investments. There are several different approaches,
but today let’s just discuss one of the most popular.
How to Find Promising Properties
Using the Internet
One of the best, quickest and easiest ways is to find
commercial real estate for sale is using the power of the
Internet. The reason most professional Property Scouts
love this approach is they can do anytime, it’s low
cost, and best of all, they can search for properties
around the country without leaving the comforts of home.
What’s great is commercial real estate agents and brokers
are starting to become very computer savvy and beginning
to list their properties they have under contract online.
Usually they upload pictures, descriptions, characteristics
data and other relevant information into massive real
estate listing databases.
Right now, there are millions of properties online. Most
are segregated into the following categoies:
1. Multi-Family (Condominiums and Apartment Complexes)
2. Office Complexes
3. Retail Properties
4. Mobile Home and RV Parks
5. Mixed Use Buildings and Warehouses
6. Raw Land That Can Be Developed
The key to finding properties is knowing where to look. And
by far the easiest place and most success-certain place to
look is commercial real estate listing database websites.
While there are hundreds, if not thousands of these websites
on the Internet, one of the most popular is one called
http://loopnet.com. Another popular one is called
http://www.costar.com/.
These websites are probably the biggest, containing literally
millions of properties to search through. They have free
services and they also have premium services. Most property
Scouts who are serious sign-up for the premium services.
Why?
Because one of the services you get is to be able to
specific the criteria you are looking for and then as new
properties are uploaded that meet that criteria, the website
will alert you via email. This especially attractive
especially when you are very discriminating and have a particular
profile of the type and attributes of the property you want.
You can get very detailed in your profiles also.
For instance, it’s easy to search for raw land in a particular
geographic area with specific qualities, with specific owner
attributes, and special financing terms. The Property Scouts of
Maverick Real Estate Investments, Inc. are trained in detail in
which properties yield the most profit and which are not so
attractive.
The key is to have a crystal clear profile of the type of property
you want. The more general you are the more properties will
“pop up”, but one doesn’t have the time to search through hundreds
or thousands of properties one by one.
You want to be discriminating. You want to think quality instead of
quantity.
Once you know and understand your property profile, and once you have
learned to navigational basics inside a specific website, then you
can start to fully exploit all it’s features and functionality. For
instance, it pays dividends to learn how to use advanced search
functions, like using descriptive keywords to find the properties
you want.
Let’s say you may want look for properties in the path of progress.
One of the most certain indicators of this is having a Walmart in the
area. So you could search for “Wal-Mart” in the notes associated with a
properties being searched. Usually a smart broker will be thoughtful
enough to put that in the description or notes regarding a property
for sale.
Some website have lots of functions and other have rather minimal
functions. Usually, if a Property Scout values their time, they’ll
take the time to learn a specific listing website and ALL it’s
functions and stick with it. In other words, they try to become an
expert within a certain website, so that they can be efficient and
not let potential opportunity slip through their fingers.
The bottomline is searching the Internet for promising commercial
properties is kind of like using Internet search engines. One doesn’t
have time to search through millions of them. You want to find the ones
that are most relevant to what you are searching for.
The same thing applies to finding promising commercial real estate on
the Internet.
To find out more about Commercial Real Estate investing, Maverick Real
Estate Investments, Inc., or the Property Scout profession,
visit: http://www.propertyscoutcash.com/ecmaff/tools.php?nick=rbreid0520
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3 comments:
Interesting post, Rob. Property Scouts can get started with CoStar Commercial Multiple Listing Service (CMLS) for $29.95 a month. Search hundreds of thousands of commercial properties from across the U.S. Details include photos, floor plans, maps, and up to 200 fields of unbiased property information. The information is independently researched and verified by the industry's largest research organization of more than 1,000 professionals.
Mark Alves
CoStar Group
Thanks for the tip Mark. By the way, the picture of the truck in front of the brown building looks like the one in Jacksonville were I work. Do you know where that pictue was taken because I think I remember seeing that truck in our parking lot sometime in '06.
Rob,
I tracked down the photo to Birmingham. But, you can search for your office using CoStar's free building lookup feature, such as for Jacksonville commercial properties.
Yes, you may have seen our Sprinter research vehicle in 2006. CoStar has a fleet of Prius hybrids now roaming the US doing field research so you just might see one in your neighborhood next time.
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