What has worked best for you in finding a deal?

[Brian Schmelzlen]

I am curious what people have found to be the most effective way to find a good deal on office buildings or other commercial real estate. Has it been through loopnet, working with an agent, direct mail, or some other method? I am planning on utilizing all of the above to various degrees, but would like some insight on what has worked best for experienced investors.

[William Haltom]

Hey Brian,

I do like LoopNet, but only to find the land to build my own projects on. 

I have found that nobody care as much as I do about maximizing the property for parking and retain space or what ever I may be building. So I design it myself first, and only after I feel that I have truly maximized the project do I then send it out to and Architect & Civil Engineer for working plans.

The reason I am telling you this is because I have never bought a commercial property, I have always built them, and because I don't have a GC to pay, and with my design that I hope has some creative thinking when it's maximized, you should do very well!!

You don't need to be a GC to build a commercial property, and as you build this exciting new project, you build in some fantastic equity for you or you and your partners. 

If you can put together a great group of Sub-Contractors that's all you need, they will each let you know if they see something wrong on concerning on your job.

I don't know if that helps at all? But to me the best way to find a great successful commercial project is to build one. Find a great vacant property, find highest & best use, and build it!

Thanks for letting me share my two cents.

Bill