New CRE Investor
Is there a service or database that helps you evaluate properties, helps you think of good questions to ask and research points? Maybe a checklist with things like poverty rate, median household income, location, flood zones, different attributes myself as a new investor should consider? Thanks!
[{"id": "fx9aho9", "text": "Get a subscription to CoStar, it\u2019s industry standard for CRE Data. Very pricey but gives you everything you need", "replies": [{"id": "fx9qomo", "text": "Thanks!", "replies": [{"id": "fx9whvy", "text": "This is what I came here to tell you. I use costar daily as a real estate consultant. It\u2019s the best tool out there.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fx9dvse", "text": "A good broker goes a long way.", "replies": [], "depth": 1}, {"id": "fx9k7ez", "text": "Bump! Would love something like this. Check out LoftyAI", "replies": [{"id": "fxb8k4b", "text": "Lol", "replies": [], "depth": 2}], "depth": 1}, {"id": "fx9m1mv", "text": "Site to do business. Expensive af but a great service that does exactly what you\u2019re asking. You can draw circles or polygons to get stats for exactly what you want. Gives you population, income, coffee drinkers, vegetarians/vegans, etc", "replies": [{"id": "fx9we49", "text": "Is Site To Do Business related to Esri business analyst? I\u2019ve never seen this before.", "replies": [{"id": "fxb4pit", "text": "It uses Esri data. Not entirely sure how related their parents companies are. Apparently it\u2019s only $1,500/year (or free with CCIM). I swore it was a lot more than that. Definitely worth trying their demo. Ive used it for demographic data with a .25, .5, and 1 mile radius of proposed high rises. It\u2019ll give you population, income, education level, median age, and a plethora of other stats. Some of their stats, such as the coffee drinkers and vegans i mentioned above, is pretty interesting. It amazes me they even have that info", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fx9mrgt", "text": "costar and all its affiliated site. Nothing there is free. A public company...", "replies": [], "depth": 1}, {"id": "fx9vxlz", "text": "Talk to some lenders and investment sales brokers since you need to build relationships with them, anyway.  They will have plenty of deal packages with fairly detailed write ups you can reference to build up your own checklist (although these will be favoring the borrower since the bankers are selling the lenders).  Same thing with investment sales brokers.  If you can get your hands on internal investment committee deal summaries, those will have a lot of relevant details as well, with less salesy stuff.  You might have to sign an NDA or get them \"unofficially\" since they can have private info, but they definitely get passed around since they are used for marketing the deals. Your list will be different depending on property type.\n\nThe big questions most of the items in your list will be answering what is the supply and demand situation for the product? what is its condition and how is it performing vs peers? what are capital projects going to cost to keep it up with target market? what are demographic trends and how do they affect future demand?", "replies": [{"id": "fxa0x3p", "text": "For the record, LENDERS DO NOT SHARE OTHER BORROWER\u2019S INFO.", "replies": [{"id": "fxa2cyp", "text": "Yes, to clarify this does not include borrower information. I'm talking property overview, risk analysis, and whatnot.", "replies": [{"id": "fxa6003", "text": "Banks don\u2019t share that info either.", "replies": [{"id": "fxb5bl3", "text": "Inaccurate", "replies": [{"id": "fxb5zes", "text": "That\u2019s really alarming. I\u2019ve always maintained complete confidentiality with all of my investors. Sorry to hear you had a different experience.", "replies": [{"id": "fxb8jcf", "text": "Find and replace the sensitive info, problem solved and a happy potential client.", "replies": [{"id": "fxba6lc", "text": "You are quite an anomaly.", "replies": [{"id": "fxbckwp", "text": "I get this info, all the time, for any new market or any new asset class that I'm looking at (minus the personal info of course).  It's absolutely imperative to walk through the entire funding process before you have to go through the entire funding process, while actually under contract.\n\nMaybe you're confusing what u/barfolamew is actually saying.", "replies": [{"id": "fxbfqsf", "text": "I\u2019m not confused. Banks don\u2019t provide info from other borrowers.", "replies": [{"id": "fxbshgs", "text": "I think banning him is a little uncalled for !   Let him either defend himself or clear up what he is trying to say but banning him does no good at all and it's over reactive.  \n\nFor the record, I have no idea who u/barfolamew is but his post history on Reddit seems fine .... and what rules did he break ??\n\nI think you're misunderstanding what he is trying to say but until you give him a chance to have that discussion (you know what Reddit is for in the first place), none of us will ever know !", "replies": [{"id": "fxbtcgw", "text": "Happy to discuss with you or the OP offline in a dignified professional manner.", "replies": [{"id": "fxc19zx", "text": "Again, this is not going to solve the issue that you have with barfolamew's post.  You need to allow him to clear up what he means ... you know so that anyone reading this post can learn.  Maybe he's completely wrong and what he meant is highly illegal and worthless or maybe it's a teeny tiny misunderstanding on your part .... but until you unblock him and/or reopen the thread, we'll never know.", "replies": [{"id": "fxc57c0", "text": "Again, happy to discuss offline. Feel free to message me directly.", "replies": [{"id": "fxch99l", "text": "The user is sending you a detailed explanation that spells out exactly what he meant.  I read it .... it's exactly what happens in this industry every single day.  I'm not sure why you're being so heavy handed here, especially over solid content.", "replies": [{"id": "fxcij37", "text": "Happy to take a look. Is he sending a deal package that a bank provided to the user about another borrower?", "replies": [{"id": "fxckopd", "text": "Read what he sent you.", "replies": [{"id": "fxckvcn", "text": "Haven\u2019t received anything", "replies": [{"id": "fxcyowp", "text": "WTF are you going for here ????\n\nYou're asking him to send you doxxing information so that you can decide if his post is good enough for you ???\n\nI think you're abusing your power as a mod.  The user put forward a good post and you flag it and kick him off the sub because \"You've never done that before\" .... big deal, you haven't done it ... it gets done every god damn day.  It's fine if you don't like it but to ban him is stupid and an over reaction.", "replies": [{"id": "fxczby7", "text": "Happy to discuss offline with you if you can refrain from cursing at me. There\u2019s really no need for that.", "replies": [{"id": "fxd1udq", "text": "You'e doing the sub a massive disservice when you ban a user for putting forth a post that you disagree with.  If you think his information is wrong then ask him to explain it in detail ... maybe it'll make sense and maybe it wont.  Then it will be voted on by the community and not by your personal opinion.\n\nThe outcome of you banning the user and locking the thread will do exactly what you DON'T want it to do ..... keep possible misinformation up for anyone to read it.\n\nYou're being way too loose with your banning powers.  \n\nYou asked someone to send you doxxing information so that you can contact them and confirm yourself .... That deserves to be cursed at, for how galactically stupid it is.", "replies": [{"id": "fxd2en8", "text": "Happy to discuss with you offline, although I\u2019m not quite sure why I have to keep repeating this. Please calm down.", "replies": [{"id": "fxdk2on", "text": "Why would I contact you offline, in the real world, for something that happened on an anonymous message board ?", "replies": [], "depth": 23}], "depth": 22}], "depth": 21}], "depth": 20}], "depth": 19}], "depth": 18}], "depth": 17}], "depth": 16}], "depth": 15}], "depth": 14}], "depth": 13}], "depth": 12}], "depth": 11}], "depth": 10}], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]