New PropStream Review for 2021
Table of Contents
This PropStream review for 2021 will give you all of the key points about PropStream you need to know.
A must-have for every real estate investor is a way to consistently find lucrative deals. Let’s assume you have a great network, relationships with lenders, brokers, wholesalers, contractors, and other investors. If we have this in place, you are way ahead of the game and in great position to consistently buy into profitable real estate deals. The only downside is that you are reliant on the deals others find for you and must pay thousands of dollars in additional fees. If you aren’t able to finding great deals on your own your competitive advantage shrinks.
As a real estate professional, you must keep updating yourself to evolve as the ever-changing marketing trend does. The range of newly emerging technologies today offers you insights necessary to predict who is ripe to sell before they even know it. This is done through technologies using big data, artificial intelligence (AI), and analytics.
There are multiple tools in the real estate ecosystem to find motivated seller leads that can offer you a leg over your competitors and help you find real estate deals before them. One of them is called PropStream. Let’s get into the PropStream review for 2021.
What is PropStream?
This application is a multi-source big data aggregator. It contains over 153 million property records, has artificial intelligence for comps, marketing tools, automation, a rehab estimator, and deal analytics. It is an all-in-one online and mobile application for investors, wholesalers, agents, brokers, lenders, appraisers, property managers, and service contractors. The core purpose of PropStream is to generate leads (motivated seller leads) and find great investment properties in any market/sub-market in the United States. The PropStream skip tracing feature makes it easy contact any owner by phone, text, email, or mail.
Who Uses and Benefits From PropStream?
- Real Estate Investors
- Wholesalers
- Agents/Brokers
- Service Contractors
- Property Managers
- Lenders
- Appraisers
In Summary, PropStream Offers:
- Real Estate Data Aggregator
- Nationwide MLS
- Public Records (see Targeted Lists below
- Multi-layer search (extremely targeted to exactly what you are looking for)
- Automated Comps
- Marketing Tools with Automation Options
- Find motivated sellers through Targeted Lists:
- Pre-Foreclosure
- Liens (Tax liens, contractor liens, mortage liens, etc.)
- Vacant homes
- Out of State Owners
- Owners with X number of properties
- Homes with Equity Build-up
- Free and Clear Properties
- Divorce
- Probate
- Bankruptcy
- Automated Targeted Marketing Campaigns
- Postcards
- Email blasts
- Voicemails (ringless)
- Custom Website
- Advertise properties to buyers
- CRM – designed for real estate workflows
- Deal Analysis
- Rehab Estimator – same as what insurance adjusters use
- Skip Tracing – Detailed Owner Contact Information
- Mobile App – includes the same features as the web version, but includes drive recording features.
- Mortgage details
- Auctions
- Transaction history
- …and more
Combining the range of benefits and services this tool offers, you’ll be able to carry out more tasks effectively and evaluate properties using data-driving insights from various viewpoints.
So, are you still asking whether PropStream is worth it? This next part of the PropStream review for 2021 will address the benefits of PropStream.
Benefits of PropStream
Here are some of the features and benefits you get to access by using this effective real estate software.
- Lead Management – Marketing Automation
- Ease Target Market List Generation
- Offers Detailed Property Profiles
- Seamless contact with owners
- Rehab Cost Estimation
- Marketing and analysis
1. Lead management – Marketing Automation
With PropStream, you can seamlessly keep track of your leads as you also search for properties. It has several customizable automation features that will keep you connected with your prospects regularly. Regularly and routinely sending out messages to prospects makes it more probable that they will reach out to your again. PropStream handles this pretty well, making it straightforward and seamless to convert leads into actual clients.
2. Eases target market list generation
You can sort property listings using several criteria, so you can find the one that aligns with your objectives, whether you want to wholesale, flip, or buy and hold houses. Propstream offers filters for vacant properties, auctions, clear properties, high equity investment, pre-foreclosures, foreclosures, out of state owners, multi property owners, and many more.
PropStream saves time and offers just one place to do it all. It creates lists that target the market criteria you want, helping you discover properties easily and even before they are on the market.
There’s so much data and so many filters it makes granular searches truly unique, meaning it would be highly improbable that any two investors have the exact same marketing list criteria. This presents a competitive advantage that enables you acquire many leads make highly profitable data-driven decisions.
3. Detailed property profiles
Propstream offers the details for any particular property you search for. On this software, you’ll access all information required to make a better-informed decision. You get to see data such as transaction history, property situation, ownership details, and every other necessary detail you can think of. If there is any downside, which it really isn’t, is that it has too many filters for all of the data.
4. Seamless contact with owners
Connecting with the owner of a property that aligns with your investment goals can sometimes be challenging. This is often because their contact information isn’t usually readily available, hence making the process of tracking them down almost non-feasible. However, PropStream simplifies this with its Skip Tracing Feature.
Using this feature, the tool automatically gathers every publicly available information about the owner, including their name, email address, physical mail, and more. Just considering the time you may waste on this action, it’s safe to conclude that, PropStream is worth it. Time is money, and this clause is especially true in the real estate ecosystem. With PropStream, you can effectively manage your time, and consequently, focus on other profit-generating endeavors.
5. Rehab Cost Estimation
PropStream cost estimation features let you determine the approximate price you might get to spend on the property. In case you want to flip houses, it will tell you how much repairs may cost and the potential property value after the repair.
Besides, it also you to input the nature of necessary repairs and tell you the estimated cost of such repair. You can also specify whether you want to DIY or hire a professional; it has options for it all.
6. Marketing and analysis
Marketing and analysis are two pieces in the real estate puzzle. Propstream can handle both activities effectively. Its analysis tools are numerous, and you’ll indeed find them helpful whether you want to find real estate deals or sell a property. The analysis wizard automates and provides a clean overview of detailed information about potential real estate transactions while giving you different market insights and performances.
See this article about analyzing real estate deals.
Besides its analytic efforts, PropStream also helps undertake some marketing endeavours. It features tools you can leverage to set up campaigns, online ads, or any other marketing efforts you can think of to connect with prospects and retain current clients.
Pricing
As of this PropStream review for 2021, the monthly service is $99. This gives you all of the core features on your desktop and the mobile app. Add-on’s include automation for your property land lead lists, $27/mo. PropStream skip tracing, automated emails, ringless voicemail, and post cards are add-ons as well.
Competitors to PropStream
- DealMachine – The mobile app and web-based desktop version cost $118/mo or if you pay annually, it would be equivalent to $98/mo. It originally started as a D4D, mobile app, then they developed the web-based desktop version. However, at the equivalent price, PropStream offers more features, property records, and list exports.
- Realeflow – This is a very close competitor if you get the Pro version for $125/mo or if you pay annually, it would be equivalent to $104/mo. It has more to CRM, Collaboration, and Management tools. At this price it also allows up to 10 users. No mobile app however.
- REIPro – This is another close competitor and has the same monthly price as PropStream. They also provide contracts and general real estate sales and marketing educational videos. On the downside, they do not have a mobile app, you can only export 2,500 leads/mo compared to PropStream’s 10,000 leads/mo, and the filters are not as noticeable as they are in PropStream.
- ListSource – This is priced by lead so could be a less expensive alternative to PropStream, if you are not always buying properties and pulling big lists of leads. Additionally, they have records for multi-family / commercial real estate and property owner contacts.
- Flipster – Same price as PropStream, but doesn’t allow as many lead exports. There are a lot of add-ons that are not priced from their website, be cautious about the total cost adding up if you subscribe.
- Automation REI – The subscription is less, but it is mostly a pay as you go model. They do not have MLS listings, the lists come from Zillow and Craigslist.
Bottom Line: Is PropStream Worth It?
With the range of benefits this tool offers, it is safe to say it is if not the best, it’s definitely among #1 or #2 depending on your exact business model and needs. Whether you are established or upcoming in real estate, PropStream is a game changer for the real estate industry. It streamlines your search and marketing, allowing you to make well informed quick decisions from anywhere at any time on any property.
PropStream or a competing application is a must for any real estate professional these days. Without it is like being a carpenter without power tools. You would be beat by your competition or just spending way too much time on tasks that could be streamlined and automated.
Even if you buy one house, the software more than pays for itself. So go out and get some motivated seller leads, don’t wait to buy real estate buy real estate and wait. See all of the ways real estate makes you money.
I hope you enjoyed this PropStream Review for 2021 article.
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