Re: Problems finding deals on Loopnet

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Posted by DMcGehee.SF on May 25, 2009 at 22:40:16:

In Reply to: Problems finding deals on Loopnet posted by Mike on May 21, 2009 at 04:26:46:

I think the idea & functionality of LoopNet is great, but I agree that it is very similar to the MLS and that many sellers are flat out delusional.

The firm I work for submits about 20 offers (on variour properties) each month and not a single one is what the seller has listed. While we do expect some negotiations, our offers are based on our calculations and due diligence. Each offer has to meet out each and every one of our investment requirements and very rarely will a listing price get us there.

I would suggest that whenever you are making an offer, your offer is based on your due diligence and knowledge, not what a seller or broker deems appropriate. If they turn it down simply move on to the next.

good luck.

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