Best Database for Commercial Real Estate Properties
Any recommendations on best low-cost databases for commercial real estate? As an investor I am interested in looking for comparables as I conduct my due diligence (mostly on multi-family).
[{"id": "hu17iv4", "text": "My experience is you get what you pay for on databases. Yeah things like a Costar charge a lot but you\u2019re paying for the data (obviously verify yourself). Not sure there is a reliable database that\u2019s low cost but would love to hear about it from anyone else", "replies": [{"id": "hu18f5w", "text": "I agree with this, CoStars only real value is their massive amounts of data and streamlined data collection and they charge accordingly. There\u2019s some cheaper alternatives, but I haven\u2019t personally found one that compares especially with comps. Have heard compstak is good, but I have not used it, so can\u2019t say for certain.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hu19dkr", "text": "Low cost? Hahahah that doesn't exist. Costar is the best/worst one and it's extremely expensive.", "replies": [], "depth": 1}, {"id": "hu1qifp", "text": "You need to spend money for quality data. This isn't residential with an MLS. You need to pay for Costar, Axio, Yardi or similar. If your not willing to pay you have to shop the comps.", "replies": [], "depth": 1}, {"id": "hu1ui30", "text": "https://youtu.be/ttWbmzTl-ho", "replies": [], "depth": 1}, {"id": "hu2t4g8", "text": "Reonomy", "replies": [{"id": "hu3i3hs", "text": "Second this. Reonomy is THE BEST database I have ever used as a broker.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hu3i2pi", "text": "Sounds like a one user license type of deal? Compare the several that others are recommending but data quality is the most important to consider if you are relying on it for comps and your due diligence. If you capital is limited then you can collect your own comp data with the appropriate amount of your own time by accessing your city/county GIS site for sale prices so you can then do the math on price per unit for rough calculation. Then of course depending on the building class and unit count you may want to go with either income approach or something like gross rent multiplier.", "replies": [], "depth": 1}, {"id": "hu3ibn6", "text": "Costar unfortunately is your only option for quality data.", "replies": [], "depth": 1}, {"id": "hu4g4ct", "text": "Local data only? See if the Assessor has a search function.\nBeyond that, CoStar or Crexi are my best suggestions.\nOr hire an appraiser or broker in that area to collect comps.", "replies": [], "depth": 1}]