Propstream worth it for client outreach?

Question

I run a small STR property management business. I have about 10 doors (started with 2 a couple months ago), I have been trying the farm technique with Realestate brokers in my areas but I want another route. I have thought about reaching out to cash buyers who have a decent sized portfolio about possibly managing their STR/MTR homes. For anyone who has experience with this, 1) is this a good route to take? 2) would propstream be the best tool for this?

Andrew Steffens · Answer

I have not used Propstream but have used BlueTent and Vintory etc and I did not yield good results - based on ROI - for anything.  The best way IMO is organic, I average about 2-5 contacts per month.  A lot of that is referral based or people find my site online, organically.  Going to networking events to network with Realtors, Mortgage, Title etc all helps.  It is a lot of work and I understand you want to "pour some gas on the fire" but likely you will just be setting cash on fire.

Andrew Steffens · Answer

Hey Patrick.  We used to use them for direct mail, email, and social media ad campaigns.  They were getting a fair amount of leads but most of them honestly were either duds or low end properties.  I am not sure if it was just my market or more on their end but at the end it was a pretty big loss for us, so we cut it.  They do a good job being responsive and getting things done, but the final result was just not there for us.

Michael Baum · Answer

Hey @Matthew Brown, it is hard to say if it is worth the $99 a month.

I would ask how they get their leads. I would have to guess that a lot of single property owners won't show up on their lists.

I would also ask about your area specifically about how it is covered.

Patrick Osterling · Answer

Hey Andrew, I just spoke with Vintory yesterday about a potential inventory growth program. You mentioned not having a good ROI with them? Could you share a little more around which solution you were using (email, direct mail, retargeting etc.?). Also, I agree with organic growth, we get some inbound leads and referrals and have a high conversation rate closing them, and they've been great clients so far. Thanks!

Chris Seveney · Answer

@Matthew Brown

You can find real estate agents and cash buyers on Propstream and I believe you can pul 10,000 contacts per month. Whether that is worth the $99 really depends on if you think it’s or is not

Propstream worth it for client outreach?

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