What methods do you use to find commercial property investment opportunities?
Been searching for several months now looking for my next investment property but haven’t had much luck. Price point is $1M - $2M, product types are retail, office and industrial, and geographic region is Central Florida. Looking for a going in cap rate of 6% or higher with a fully stabilized cap rate of 10% or higher. 
I have access to most of the listing sites including Costar and LoopNet. I started doing letters to property owners who have tax liens seeing if they are interested in selling. I’ve tracked our county foreclosure auctions but 99% of those are residential. I’m also a former broker and have several relationships in the industry. 

Wondering if I should just wait it out another six months to a year and see if there will be distressed opportunities. I bought several bank owned, short sale and foreclosure auction properties during the last cycle so maybe I just need to be patient and see how the next six months goes.

I’m sure this question has been posed before but I’m curious to know what methods have worked for you recently?
[{"id": "glhthi8", "text": "The problem (in terms of finding investment properties) is capital is cheap, people can afford to hold and there is a lot of competition with buyers having access to cheap capital when deal do become available.  I'm seeing construction on institutional projects that will sit vacant for a year or two and I am sure their calculations show it will be cheaper the long run to do it this way with low interest rates.  I think creativity is the key to creating value right now.", "replies": [{"id": "glxm6v0", "text": "Now that's interesting.  I've seen quite a lot of industrial going up on spec, but demand is so high there that I wouldn't guess anyone is underwriting 2 years of vacancy on those.  Someone starting office at the moment could be thinking that way, I guess, but office starts are on the decline.\n\nI guess I'm just curious on product type and market.  I'm not necessarily skeptical \"I gotta place money\" is legit reason for building right now, but I just haven't heard of anyone saying this outright.  My experience is everyone's still looking for the edge, still doing their best to figure out where to build, not just saying \"eh, whatever, it'll fill eventually\".", "replies": [], "depth": 2}], "depth": 1}, {"id": "glhybst", "text": "I would just start calling property owners for assets you like and potentially be ready to make offers that fit your model. Inventory is low and the best deals happen off market at least where I broker in the Rockies.", "replies": [], "depth": 1}, {"id": "gli273h", "text": "Well, my favorite investment methods are for sure Tax Lien and Tax Deeds. There are a lot of opportunities and depend on how much capital you have to invest.\n\nYou can choose both for residential, commercial, or other different types of properties, of course, it needs good Due diligence, but the returns are often in double-digit.", "replies": [{"id": "gliyapu", "text": "Really? I typically find nothing but dog shit when looking at tax liens. What part of the country are you located in?", "replies": [{"id": "glj3k6n", "text": "[New Jersey](https://old.reddit.com/r/newjersey/comments/ku4vux/how_do_you_buy_tax_liens_in_nj/girs0e7/)", "replies": [], "depth": 3}, {"id": "glkumww", "text": "Well, there are a lot of good counties, the more profitable ones IMHO are the ones in New Jersey thanks to the auction frequency and the possibility to buy subsequent taxes at the maximum int. rate :) \n\nThe most difficult thing is simulating the expected earning, for this reason, we developed in our SW with all US auction lists, also a section with the NJ Forecast tool, I'm really proud of it :) \n\nIf you want to give a look check at FastLien (search on Google or add .co) and sign-up for free. Any feedback will be really appreciated :)", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gli2qna", "text": "Writing letters is probably a waste of time. Get them on the phone and parlay that into meeting in person. That's how you get them to say, \"I don't want to sell this right now, but I will sell you that\" or \"I'm not a seller, but my neighbor Greg is considering liquidating his entire portfolio. Here's his cell\". \n\nBuild relationships and the deals will come.", "replies": [], "depth": 1}, {"id": "gli3emj", "text": "You can wait for someone to tell you about a property for sale (Realtors or others), or you could simply go find them, and then track down the owners and reach out to them.\n\nYou know what you want in an asset. Go to the tax assessors office and hand them your criteria and ask them for a (digital) list of properties that meet those criteria (ask for the list to include the site address, the owners address and lastly, the address where the tax statement goes to.  Then go visit each one and mark your list as A, B and C.\n\nSend a letter out to every \"A\" property and ask them if they would entertain an offer (send it to the owners address as well as where the tax statement goes to...one of those will be your decision maker...they're not *always* the same person). Some will respond just to see what the market thinks the value is of their asset and never call you back.  Some will respond, then, certain you're willing to pay more, they'll play cat and mouse with you until you either up the ante or, get frustrated and leave.\n\nSeveral will be sitting at home precisely at that time, trying to figure out not only what their asset is worth but, how to go about finding a buyer.\n\nAnd there you are.\n\nIf none of the \"A\" properties respond in the way you prefer, send letters out to all the B properties.\n\nRinse, repeat.", "replies": [{"id": "gm36m6e", "text": "How well has that worked out for you? I never thought about it this way but given the current climate, what do you think the odds are?", "replies": [{"id": "gm3cv59", "text": "Given the current climate:\n\nEarth.  Humans are still walking the planet.\n\nI'd say: pretty good.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gljmjjx", "text": "Costar", "replies": [{"id": "gljtufy", "text": "Came here to say this also.", "replies": [], "depth": 2}, {"id": "gllnly7", "text": "Costar gives you owner data but most of them don't sell. So what's the plan? Is there any indication that someone will sell? I tried maturity date but it also didn't work.  I get distressed data from cred iq but the deals are not there cuz the properties have a lot of debt.", "replies": [], "depth": 2}, {"id": "glmewfx", "text": "I do have access to Costar but maybe I\u2019m not utilizing it correctly. I just search it for available listings.", "replies": [], "depth": 2}], "depth": 1}, {"id": "glkgk5v", "text": "A dartboard \ud83d\ude2e", "replies": [], "depth": 1}, {"id": "gllgw2s", "text": "Hey. Central FL broker/investor here. It's hard, but keep looking at product selling at a $/acre basis and you might find something with value add potential. I'm only seeing good deals if: A) Truly off-market, B) you develop it, or C) a rare scenario (like bumping into buyer/seller at a party). Good luck and keep at it!", "replies": [], "depth": 1}, {"id": "h12wqt1", "text": "I was just involved on two properties (retail &amp; office) that sold for 82% and 67% of asking price.  I would  say the more conversations you have, the better shot you get of putting yourself in front of the right conversation/opportunity\n\nI also do my work in the Midwest (hence my username) and I understand the market up here is a bit different than the coasts", "replies": [], "depth": 1}]