Hi I’m new to the sub. How can I find small warehouses to buy? They’re rare in my market. Both my deals so far were FSBO and found by word of mouth. They both ended up becoming great investments. I want more but I need to get creative to find them. Any ideas?
[{"id": "fk9qahj", "text": "Hire a broker with access to commercial listing services and that\u2019s hungry to hunt for off market deals for you.", "replies": [], "depth": 1}, {"id": "fk9rlq1", "text": "Start with the aggregator sites (LoopNet, Crexi, Brevitas, etc....). They are usually a good starting point and then you can go down the rabbit hole of local brokers that list on those sites.", "replies": [{"id": "fk9scr6", "text": "Thank you for the response. I\u2019ve tried loopnet before. Maybe the timing was wrong but I signed up for premium and couldn\u2019t find any smaller units so I canceled. People talk about \u201cdriving for dollars\u201d for finding residential deals. It\u2019s harder for commercial because the owners aren\u2019t as easy to locate.\n\nEdit: wow guys thanks for the insider info!", "replies": [{"id": "fk9t6cp", "text": "Don\u2019t bother with driving your market unless you\u2019re a broker. Owner-user is more likely at the smaller scale, but it\u2019s far more likely the owner is hidden behind a 123 Main St LLC and difficult to reach. Walking in will probably yield nothing and waste time.\n\nIf there\u2019s a building you want, you can use the secretary of states biz registry to find real owner info. If you have the cash for a commercial building, then you also have it for a couple months of Reonomy pro which can crack anonymous LLCs.", "replies": [], "depth": 3}, {"id": "fk9tb0h", "text": "A lot of times they are just as easy to locate, just need to know where to look.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fk9rrzj", "text": "What market are you in?", "replies": [{"id": "fk9rzku", "text": "Denver", "replies": [{"id": "fk9s2y2", "text": "Have you spoken to a broker and do you have a specific area mapped out?", "replies": [{"id": "fk9sno0", "text": "I have. He sends me listings or about to list properties but it\u2019s hard to find smaller units under 3,000sf. Those are the ones I\u2019m after because they are easier to rent to small businesses and skilled trades like mechanics, welders or countertop companies. Anything over that is a whole different kind of tenant.", "replies": [{"id": "fk9srrc", "text": "Patience is key.", "replies": [], "depth": 5}, {"id": "fka9giu", "text": "Also look for ones that could easily get cut up into multiple small bays", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fk9rvj1", "text": "Costar", "replies": [], "depth": 1}, {"id": "fka26bg", "text": "Why only buy &lt;3ksf buildings? \n\nWhy not buy a 10ksf building with multiple units? Same potential tenant base, more financeable, economies of scale with management and a better risk mitigated cash flow.\n\nGo bigger.", "replies": [{"id": "fka5b9n", "text": "Absolutely agree with you. Multiple small units would be a dream!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fkae03n", "text": "I'm in Los Angeles, but I can help you. Feel free to PM me", "replies": [], "depth": 1}, {"id": "fkax1i3", "text": "That small, use craigslist or loop net. \n\nHave your broker pull title for all industrial space under 5k and then send mailers to everyone. \n\nThese shitty places are clustered together probably. Drive by once a month and eat lunch nearby. You will start to see the same people. Tell them what you are doing and give them a card. \n\nYour broker is not going to be super helpful here, cause unless you have 5 million to blow on a small business park, these onsie twosie condos are going to be a waste of his time.", "replies": [], "depth": 1}, {"id": "fkc14b1", "text": "If you don't mind, could you plz share the range of lease rates (e.g. $ per sq ft per month) that you're able to get on your small warehouses?\n\nI'm in San Antonio, not Denver, and I know the numbers could be very different, but I'm researching some local ideas and would appreciate any lease rate info you can share. Thnx.", "replies": [{"id": "fkgbkmh", "text": "PMed you", "replies": [], "depth": 2}], "depth": 1}, {"id": "fkf4pl6", "text": "Drive around the warehouse area in your city. We found quite a few small warehouses for sale/rent by mom and pop owners by doing this.", "replies": [{"id": "fkfuqu2", "text": "Which market are you in? It\u2019s become really competitive here. So competitive, that I have people dropping off offers to my warehouse all the time", "replies": [], "depth": 2}], "depth": 1}, {"id": "fkg3041", "text": "If you can identify a specific geographic area and size, a title company can create a list of properties.\n\n&amp;#x200B;\n\nI have a monthly service I subscribe to that can also provide owner phone and emails.  I'd be happy to provide contact info if you're interested, just send me a private message.", "replies": [{"id": "fkgblgp", "text": "Thank you. What service to you subscribe to? Are you a broker?", "replies": [{"id": "fkgd9n2", "text": "I am a broker in Washington state.   The service is called reonomy.    It\u2019s a great service for a broker but very expensive for what you\u2019re needs are.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]