Hey guys, I'm a land investor who uses direct mail marketing to send out blind offers to owners. Has anyone used the site PRYCD.com before? I just came across it and it looks pretty cool. From what I can see, it looks like they can analyze where to send your next mailer, pull owner records, provide customized offer pricing, and scrub your list to get it sent it to your mail merge service provider quickly. Before I purchase a subscription with them, I just wanted to know some other people's thoughts. Thanks!
Developer · Powell, OH · Member since 2016 · 59 posts · 44 votes
6y
That's kind of what I expected. It looked quite powerful. I've been buying vacant land but doing more of the old school thing with subdivision/ rezoning for value add to get my margin. It's hard to find anything at below market prices, so I really want to give the mail based approach a try. I think I'm going to pull data for a few mailings myself first, to see the steps in the scrubbing, and then I think I will try prycd. It sounds really good.
I went ahead and signed up about two weeks ago now and I can honestly say that it's saved me countless hours prepping my mailers. It really does what they say it can do and I can honestly say I'm a PRYCD believer now.
Before actually signing up with them, I actually scheduled a free 1-on-1 call with one of their founders so he could walk me through their system. I highly recommend that since it definitely helped me feel better about their platform and opened my eyes to the power and capabilities their platform has (you can view and book a time under their support page). They have over 1 Million comps in their database to help them form offer prices and analysis and is also a great site for research to find new places to mail.
They offer a 7-day free trial period too so there's no harm if you decide it's not for you.
Some other good notes to know is that they are super transparent about what they're doing and also really responsive to feedback. On my call, I mentioned that it would be cool to add a heat map about comp price variation of each county in the United States, and it was on their site within a couple of days.
Developer · Powell, OH · Member since 2016 · 59 posts · 44 votes
6y
That's kind of what I expected. It looked quite powerful. I've been buying vacant land but doing more of the old school thing with subdivision/ rezoning for value add to get my margin. It's hard to find anything at below market prices, so I really want to give the mail based approach a try. I think I'm going to pull data for a few mailings myself first, to see the steps in the scrubbing, and then I think I will try prycd. It sounds really good.
I think that's a great way to go about it. It's always good to know and learn the manual way to do it first. That way you have a better understanding of what is going on behind the scenes when it happens automatically.
I'm new to land investing and heard about PRYCD on the Casual Fridays REI podcast. The site is super user-friendly and customer support is extremely responsive and personable. I've been doing my own research about land investing but speaking with their support representative made me feel like I was speaking to the engineer himself! I'm looking forward to using their service and expanding my real estate knowledge using PRYCD as what I would consider an essential tool.
Rental Property Investor · San Jose, CA · Member since 2017 · 22 posts · 12 votes
3y
Prycd market estimates tend to underprice all lot sizes. They only give estimates at the county level and sort it by acreage size. For example, infill lots under 1 acre inside a city of a county are underpriced due to being averaged out with 1 acre lots outside of cities within the same county.