Investor · Pittsfield, MA · Member since 2019 · 88 posts · 49 votes
Hi All
Starting to pull together some goals for 2024. It is not going to be a buy year for me most likely as I want to pay down some debt and refine a couple properties a bit. That said, I want to be in a strong position to buy in early 2025 and need to spend some more time focusing on underwriting better. I'd like to continue to build out my portfolio in the 8 - 20 unit per property space and am committing to underwriting a couple deals a month. As you all know it can sometimes be tricky to find listings that have solid numbers that can be trusted or any numbers at all for that matter. Besides my local commercial broker do any of you have a good source for a steady stream of listings that I could spend some time underwriting? I'd also be happy to run some numbers for people looking at deals relatively close to that size and would keep the numbers private if asked to.
Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
2y
You can practice underwriting properties from LoopNet. They usually have all details listed that you would need for your pro-forma. Otherwise, a quick call to the agent will help fill in the blanks.
Columbus Ohio · Member since 2023 · 15 posts · 8 votes
2y
Hey Jaryn, maybe consider getting in touch with wholesalers near you who can look for deals? Maybe attend RE clubs and meetings as they are great networking opportunities and maybe you’ll meet someone with a lead.
Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
2y
You can practice underwriting properties from LoopNet. They usually have all details listed that you would need for your pro-forma. Otherwise, a quick call to the agent will help fill in the blanks.
Investor · Hopedale, MA · Member since 2021 · 321 posts · 212 votes
2y
hey! that's also my ideal deal size. i'm buying in chicago and there are tons of deals out there. i find mine on loopnet and have a few agents that send me pocket listings. on loopnet, some brokerages will just put the offering memorandum linked on the listing, which makes things easier. there might be a filter in loopnet where you can view only deals that have linked attachments!
Investor · Pittsfield, MA · Member since 2019 · 88 posts · 49 votes
2y
Ok Loopnet it is I guess. I haven't had the best of luck on there as I feel like the numbers it generally shows are vague at best but I'll start digging a bit deeper into them.
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
2y
@Jaryn Pierson LoopNet is a place to go to meet agents who specialize in commercial real estate. You can call the agents and get to know what areas they serve and what listings they have. I would also not tell them you want to practice underwriting their deals. I would focus on what you want (stabilized versus value add, A, B or C class, etc).
Starting to pull together some goals for 2024. It is not going to be a buy year for me most likely as I want to pay down some debt and refine a couple properties a bit. That said, I want to be in a strong position to buy in early 2025 and need to spend some more time focusing on underwriting better. I'd like to continue to build out my portfolio in the 8 - 20 unit per property space and am committing to underwriting a couple deals a month. As you all know it can sometimes be tricky to find listings that have solid numbers that can be trusted or any numbers at all for that matter. Besides my local commercial broker do any of you have a good source for a steady stream of listings that I could spend some time underwriting? I'd also be happy to run some numbers for people looking at deals relatively close to that size and would keep the numbers private if asked to.
Any info would be greatly appreciated.
Thank You ! Jaryn
I'm confused, you are not buying anything for more than a year away, and you want to look for deals now?
BTW I can get as many as I want in my market as I have a large network. So just get out there and network,
@Jaryn Pierson LoopNet is a place to go to meet agents who specialize in commercial real estate. You can call the agents and get to know what areas they serve and what listings they have. I would also not tell them you want to practice underwriting their deals. I would focus on what you want (stabilized versus value add, A, B or C class, etc).
Starting to pull together some goals for 2024. It is not going to be a buy year for me most likely as I want to pay down some debt and refine a couple properties a bit. That said, I want to be in a strong position to buy in early 2025 and need to spend some more time focusing on underwriting better. I'd like to continue to build out my portfolio in the 8 - 20 unit per property space and am committing to underwriting a couple deals a month. As you all know it can sometimes be tricky to find listings that have solid numbers that can be trusted or any numbers at all for that matter. Besides my local commercial broker do any of you have a good source for a steady stream of listings that I could spend some time underwriting? I'd also be happy to run some numbers for people looking at deals relatively close to that size and would keep the numbers private if asked to.
Any info would be greatly appreciated.
Thank You ! Jaryn
I'm confused, you are not buying anything for more than a year away, and you want to look for deals now?
BTW I can get as many as I want in my market as I have a large network. So just get out there and network,
Just like looking at deals and also need the practice underwriting on the medium size multi family stuff. Just want to get some practice in basically.
Starting to pull together some goals for 2024. It is not going to be a buy year for me most likely as I want to pay down some debt and refine a couple properties a bit. That said, I want to be in a strong position to buy in early 2025 and need to spend some more time focusing on underwriting better. I'd like to continue to build out my portfolio in the 8 - 20 unit per property space and am committing to underwriting a couple deals a month. As you all know it can sometimes be tricky to find listings that have solid numbers that can be trusted or any numbers at all for that matter. Besides my local commercial broker do any of you have a good source for a steady stream of listings that I could spend some time underwriting? I'd also be happy to run some numbers for people looking at deals relatively close to that size and would keep the numbers private if asked to.
Any info would be greatly appreciated.
Thank You ! Jaryn
I'm confused, you are not buying anything for more than a year away, and you want to look for deals now?
BTW I can get as many as I want in my market as I have a large network. So just get out there and network,
Just like looking at deals and also need the practice underwriting on the medium size multi family stuff. Just want to get some practice in basically.