How to Find Motivated Sellers With PropStream (List Building Tutorial)
PropStream: https://retipster.com/go/propstream/y... (REtipster Affiliate Link)
How to Research Properties with PropStream (Due Diligence Tutorial): • How to Research Properties with PropS...
How to Be a Real Estate Detective with the PropStream Mobile App: • Real Estate Detective Work With the P...
Blog Post: https://retipster.com/real-estate-dat...
What I like about PropStream is that it's fairly easy to use AND pulls from multiple databases. Unlike most real estate data services, which rely on a single, well-maintained, nationwide database, PropStream pulls in a lot of information from multiple sources. This means it can potentially give you better, more current information, making it a great secondary service you can use to cross-check information and verify the accuracy of your information, regardless of your primary source of data.
PropStream was designed specifically for real estate investors (primarily house wholesalers and house flippers), whereas DataTree was designed for a much broader audience. Unfortunately, because they target the house audience, it is lacking some features that would be very useful for land investors... but even so, the issues are overcomeable.
Something I appreciate about PropStream is that, similar to DataTree, their system will show you exactly how current their database is in every county around the country (not every data service offers this kind of transparency).
I also appreciate how the service is priced at a flat monthly fee, whereas most data services will charge a monthly fee PLUS a per-lead fee for every record you download (which can add up).
PropStream also has a great mobile app, and the ability to do skip tracing, send out direct mail, and email marketing campaigns (among other things) all from your PropStream account.
0:00 - Intro
0:17 - What makes PropStream unique?
1:27 - How to get started filtering a list
2:25 - Understanding Occupancy Status
3:02 - Filtering by Property Characteristics
3:25 - Filtering by MLS Status
3:40 - Pre-Foreclosure and Bank Owned Properties
3:45 - Filtering by Ownership Information
4:19 - Targeting Portfolio Owners
4:45 - Lien, Bankruptcy or Divorce Status
5:16 - An overview of PropStream’s Quick List Choices
6:39 - How are the Quick List Choices defined? Here are the definitions of each one: https://www.propstream.com/propstream...
8:10 - List Filtering Examples
11:33 - How to filter for vacant landowners
12:48 - Understanding occupancy status for vacant land
14:04 - When should a land investor exclude corporations and trusts?
15:16 - Filtering properties by lot size (square feet vs acres)
15:06 - How to save a search and monitor it in the future
16:41 - How to add properties to a new or existing list
16:56 - How to see when the data was last refreshed
17:34 - How to export your list to a spreadsheet
17:41 - Understanding your monthly limit
18:26 - What an exported spreadsheet looks like
18:57 - Sending mail directly from PropStream
19:29 - Email marketing from PropStream
19:37 - Skip Tracing with PropStream
21:03 - Skip Tracing Results: Does it work?
22:26 - Setting up campaign websites with PropStream
24:09 - Final thoughts: Is PropStream worth it?
26:18 - 7-Day Free Trial
26:29 - REtipster Affiliate Link: https://retipster.com/propstream
Pros:
Flat, monthly fee with a generous amount of leads to download.
Subscriptions are month-to-month, with no long-term commitment required.
Pre-build filtering options to assist in targeting motivated sellers.
Skip tracing, direct mail, email marketing, and website building capabilities.
Limited access to MLS data in many markets.
Users can see the individual records before downloading the list.
Cons:
Some counties are less current than others, and some counties don't have any data available at all. It doesn't always do a great job of communicating this (if you search in a county that isn't covered, it just won't show you any results).
It's great that PropStream has access to multiple sources of data, but it can be problematic when you aren't able to see which source is being used. Since there are varying degrees of reliability from one database to another, it would be helpful if there was a way to know which source you're seeing.
For land investors who are trying to search by a property's APN (when doing individual property research), the process isn't user-friendly or intuitive. It's clear the software was made primarily for house investors and not land investors.
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