why is loopnet so bad for finding deals

[James Hong]

i wanna start by thanking the whole bp family. i have learned so much from yall. special thanks to @Joshua Dorkin and @Brandon Turner for the  hard work yall putin behind the scenes to gove us all such a great tool.

as for  my question, here goes, im new to real estate investing and i have learned were to look for deals but why does loopnet have such a bad wrap when it comes to looking for deals? and cause its on loopnet are the chances that it could be a bad investment greater?

[Mike Dymski]

Commercial brokers have a network of investors they market properties to and, when that full network passes on the deal, it goes on loopnet.  So, many investors feel that loopnet is where bad, overpriced, and passed-over deals go to die and it is partially true.

That being said, when other investors tell you what you can and can't do, it's more of a reflection of what they can and can't do.  Investors find good deals on loopnet too in some markets.  It's just like any other lead generation tool...it just takes some work.  I toured my small apartment complex before it went on the market, made an offer, seller turned it down, broker put it on loopnet, and I purchased it a month or two later and it's a fantastic deal.