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Propstream - is it worth it?
I’m a buy and hold investor with two investment properties so far and I’m looking to acquire my next. I was talking to a friend of mine who is a wholesaler in Hawaii and he said that I need to checkout propstream for finding deals. I haven’t looked into it in detail yet, but I’m curious to know if it’s worth it. For those of you who have a subscription to propstream, how do you use it and is it worth it?
I am a newbie and I use propstream. I like the ton of information there is about properties. I like the search filters, for example, I can look for MLS in a price range that is priced below their estimate of current value, I don't know anywhere else to do a search like that. Also it includes Blue Hammer to help you estimate repairs and it includes a section that collects information and presents various reports including valuation reports.
All this said, it is $99 per month and I am also concerned that it is a bit pricey.
Maybe as I get more experience I will find the same capabilities for less elsewhere.
@Robert Wardlow Thanks for the feedback Robert! What kind of Properties are you looking for and for what purpose?
@Nathan Shankles I've used PropStream off and on over the past year. They provide you with a ton of information about the property, property records, owner, market, etc. I've used it to send direct mail postcards to find listing as an agent and to find investment properties. You do have to pay for each lead on top of your membership, which can get expensive depending on how much marketing you're doing. But, you get access to a ton of information and marketing without doing a bunch of work yourself, which I think is where the value is. It puts a large majority of the information you want to know about a property all in one clean space without doing any of the leg work. The information isn't always up to date but I've found that it's accurate the majority of the time.
Personally, I'm not at the point where I'm spending tens of thousands on marketing, so it's not worth it for me to pay for a subscription every month and buy the leads, particularly when you can find this information yourself with some digging as it's all public record (checking the county auditor's page, finding when the mortgage was recorded, pulling your own comps, etc.) However, you could get the membership for a month, put a list together, purchase your information, export it as an excel file, cancel after that month, and then market your list. Rinse and repeat whenever you need a new list to mail/market to. You're essentially using it just like you would ListSource but in a format that is maybe a little more user-friendly and cleaner.
It's definitely an amazing tool but you're paying a decent chunk for the convenience and getting some of the work off of your plate. With that said, if you close one deal because you've used Propstream the membership has paid or itself.
@Jesse Houser thank you Jesse! This is awesome information. Much appreciated brother!
Hi Nathan, I am looking for Single Family to flip at this time. I am using to filter MLS to find distressed properties. They have a good filtering system. Do you know of another site where I can do the same. Propstream give me a list that I can download. I also like BlueHammer which is included.
Originally posted by @Jesse Houser:@Nathan Shankles I've used PropStream off and on over the past year. They provide you with a ton of information about the property, property records, owner, market, etc. I've used it to send direct mail postcards to find listing as an agent and to find investment properties. You do have to pay for each lead on top of your membership, which can get expensive depending on how much marketing you're doing. But, you get access to a ton of information and marketing without doing a bunch of work yourself, which I think is where the value is. It puts a large majority of the information you want to know about a property all in one clean space without doing any of the leg work. The information isn't always up to date but I've found that it's accurate the majority of the time.
Personally, I'm not at the point where I'm spending tens of thousands on marketing, so it's not worth it for me to pay for a subscription every month and buy the leads, particularly when you can find this information yourself with some digging as it's all public record (checking the county auditor's page, finding when the mortgage was recorded, pulling your own comps, etc.) However, you could get the membership for a month, put a list together, purchase your information, export it as an excel file, cancel after that month, and then market your list. Rinse and repeat whenever you need a new list to mail/market to. You're essentially using it just like you would ListSource but in a format that is maybe a little more user-friendly and cleaner.
It's definitely an amazing tool but you're paying a decent chunk for the convenience and getting some of the work off of your plate. With that said, if you close one deal because you've used Propstream the membership has paid or itself.
Hey Jesse, Do you manage your own IDX site and CRM?
@Tony Reed hey tony, have you heard of property radar? An investor friend of mine mentioned in and I thought I’d ask around.
Originally posted by @Nathan Shankles:@Tony Reed hey tony, have you heard of property radar? An investor friend of mine mentioned in and I thought I’d ask around.
Hey Nathan, I've heard a bit about it. Their service is more marketing and lead generation as apposed to letting you manage your clients/ leads customer experience with you specifically in your own portal. With Real Geeks for instance, You have an IDX website linked to a centralized CRM. Where your customer can do their home searches that mimic the aesthetic of Zillow and other popular sites, they can get a property valuation on their current property, and on the backend you get valuable insights on what they are interested so you can give them feedback. The CRM sends automated text, drip campaigns and texts based on key events, and allows you to manage your sphere of influence more effectively through FB and IG. Are you currently using any tools like this?
@Tony Reed thanks tony. I am not currently using anything like what you mentioned.
Originally posted by @Nathan Shankles:@Tony Reed thanks tony. I am not currently using anything like what you mentioned.
It ideal if you are attracting buyers, sellers, and renters. I have a connection there if you are interested in taking a closer look.
@Tony Reed thanks man. I’ll let you know.
Originally posted by @Robert Wardlow:I am a newbie and I use propstream. I like the ton of information there is about properties. I like the search filters, for example, I can look for MLS in a price range that is priced below their estimate of current value, I don't know anywhere else to do a search like that. Also it includes Blue Hammer to help you estimate repairs and it includes a section that collects information and presents various reports including valuation reports.
All this said, it is $99 per month and I am also concerned that it is a bit pricey.
Maybe as I get more experience I will find the same capabilities for less elsewhere.
After watching , $99/mo seems pretty reasonable. Maybe even low if it does everything it advertises. I'm not affiliated with them at all. I'm just considering them myself.
Thank you Nathan for opening this Propstream discussion. I just started using Propstream and using a VA (virtual Assistant). I was pretty satisfied with the data and ability to skip trace for phone numbers so that my VA can make cold calls. I am looking for a CRM to upload the Propstream data & leads into without needing to reconfigure the data/excel sheets. Doe anyone know of any?
Hi @Carol Small, just wanted to follow up and see if you found a good CRM to integrate with Propstream?
Where does Propstream get equity percentage on a property?
@Carol Small @Daniel Tisdale have you guys compared propstream and real estate iq. I really like what I am seeing at real estate iq and know one investor actually using them very successfully. They are pricey but if it is working for him in the Houston/Galveston area then it may work for me. They have 3 tiers. One of the tiers takes all the lists they have with skip tracing and puts it into a CRM. Sounds interesting but the guy I know is only using the Premium tier which gives all the lists combined with skip tracing. I came here looking to compare the two platforms.
@Carol Small well iQ is a no go in my counties, so there is that….I’m going to dig into propstream a little more. A guy I’ve talked with uses it mainly for Comps since Tx is a nondisclosure state
Hello @Robert Wardlow
I see that back in 2019 you mentioned bluehammer. Is that still an option with propstream. I looking at my options but I think bluehammer would help my decision making.
Seems like Propstream has it. There is a lot of good information above, but looking through other forums, Propstream sounds like it should be your first go-to, even though it is unfortunate that people are reporting that some of the data is outdated.
Propstream or Property Radar? (biggerpockets.com)
See Ryan Garrison comment
Prop stream or Deal Machine? (biggerpockets.com)
See Scott Bottomley comments
Propstream or Listsource? (biggerpockets.com)
See Joe Gonzalez Comment