Do deals really go to die on Loopnet?

[Patrick Hancock]

Hello,

I've heard several times while listening to the BP Podcasts that "Loopnet is where deals go to die".  However, looking at properties on Loopnet I see many that have great looking cap rates. I'm just beginning the hunt for a commercial property to purchase so my question is what am I missing? I'm assuming cap rates can look good on paper but this isn't taking into account repairs needed and ???? 

Thanks in advance,

Pat