PropStream filters should I use?

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PropStream filters should I use?

Ron Hollingsworth
Investor · Phoenix, AZ · Member since 2017 · 109 posts · 30 votes

I'm looking for homes to mail postcards/letters to and I've subscribed to PS.  I understand most target non-owner occupied, however I am unsure of what other filters people use to narrow the search down looking for landlords that are in the best position to want to liquidate their property? 

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Curt Smith
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
4y

Hi Ron,  An aside I suggest you take education in the various deal types to deeply understand each type of seller and their problems, thus the issues you might search on.  At least get education for the deal type you are targeting.  Join local REIAs, search for real estate investor associations in meetup.org and join them all and network with local experienced folks.

Why?  Successful marketing takes deep knowledge of the seller types you want to reach and this comes with years of experience.

I've used PS for maybe 5 years, do mailings within PS, occationally export lists and skip trace and do sms.   PS is the best data base tool I've found.  I've trialed most of the others.

First the bad news;   any list someone from Timbuctoo with a credit card can buy and mail are going to be getting a ton of other post cards.  Probate, preforclosure, absentee etc in the major cities are very very difficult and expensive since your only potential advantage over the nationwide big $$$ wholesalers is to out spend them.  Which few have that deep a pockets.

My rentals where getting a stack of post cards a month have trickled off and now I'm getting cold calls at about the samee rate.  IE the $$$ folks have moved to cold calling.   Some SMS, mostly philipeno women voices calling on most of the addresses.   I've been doing 2k SMS numbers / mo for 1.5 yrs, consistently.  Adding new numbers from expensive lists like 30-60-90 days late bought via a broker from the credit agencies, around $0.33 each.  Got one deal early on.  I'm keeping it up on the belief that stressed owners who took forbearance will be hitting a second wave of stress from inflation etc.    IE I'm spening $$$ consitently to be the last marketing guy standing.  :)  This is how it works, keep it up, keep the spend, to be the last guy standing.  Its expensive and takes often a year of hitting the same list every 45 days.

The good news is PS has the most, best filters of any tool.   How can I help with filter chioices since you didn't say who you are going after?

My target are LOW equity to NO equity.  Thats right I want deals wholesalers / flippers can't use.  I buy subject to and keep as rentals after investing cash to fixup after a low cost closing to buy just taking over the mortgage payments after paying for the closing.  Rarely some $$ for the seller.  They sell not for $$ but to get out from under the stress of a poorly maintained house and worry about a missed payments mortgage.  Connect/PM me I hand out a subject to detailed training.

For me;  <5 yrs ownership (low equity),  some lien, or bankrupcy or divorce.  Typically I'm targeting home owners / occupants.

If you are attempting wholosaling or off market buying a flip then you need high equity, long years of ownership, >15yr.    PS has added a bunch of pre set filters in the Quick list choices drop down.  The new ones are at the bottom of the list.  No direct experience with them.

The biggest tip I think is what area to target.  I hear that more likely success is in smaller towns >45 min from your target city.  IE give up on your major city and do post cards to small towns >45 min away.  ;(

Buy/read BP's Zero down creative deals book.   IMHO the oppoortunities going forward in this inventory scarce market are creative, not high equity wholesales.  Learn how to buy and hold using creative tactics.  I'd like to be shown wrong, but my view is wholesaling for newbies is dead,, least till the next 2009 like crash.  Too much work today.  Creative is easier but is a "knowlege" business.

Go to youtube and watch: "creative deals", "lease option", "subject to". Buy Joe McCalls education plus at yourr local REIA.

Best of luck.

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  • Curt Smith
    Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
    4y

    Hi Ron,  An aside I suggest you take education in the various deal types to deeply understand each type of seller and their problems, thus the issues you might search on.  At least get education for the deal type you are targeting.  Join local REIAs, search for real estate investor associations in meetup.org and join them all and network with local experienced folks.

    Why?  Successful marketing takes deep knowledge of the seller types you want to reach and this comes with years of experience.

    I've used PS for maybe 5 years, do mailings within PS, occationally export lists and skip trace and do sms.   PS is the best data base tool I've found.  I've trialed most of the others.

    First the bad news;   any list someone from Timbuctoo with a credit card can buy and mail are going to be getting a ton of other post cards.  Probate, preforclosure, absentee etc in the major cities are very very difficult and expensive since your only potential advantage over the nationwide big $$$ wholesalers is to out spend them.  Which few have that deep a pockets.

    My rentals where getting a stack of post cards a month have trickled off and now I'm getting cold calls at about the samee rate.  IE the $$$ folks have moved to cold calling.   Some SMS, mostly philipeno women voices calling on most of the addresses.   I've been doing 2k SMS numbers / mo for 1.5 yrs, consistently.  Adding new numbers from expensive lists like 30-60-90 days late bought via a broker from the credit agencies, around $0.33 each.  Got one deal early on.  I'm keeping it up on the belief that stressed owners who took forbearance will be hitting a second wave of stress from inflation etc.    IE I'm spening $$$ consitently to be the last marketing guy standing.  :)  This is how it works, keep it up, keep the spend, to be the last guy standing.  Its expensive and takes often a year of hitting the same list every 45 days.

    The good news is PS has the most, best filters of any tool.   How can I help with filter chioices since you didn't say who you are going after?

    My target are LOW equity to NO equity.  Thats right I want deals wholesalers / flippers can't use.  I buy subject to and keep as rentals after investing cash to fixup after a low cost closing to buy just taking over the mortgage payments after paying for the closing.  Rarely some $$ for the seller.  They sell not for $$ but to get out from under the stress of a poorly maintained house and worry about a missed payments mortgage.  Connect/PM me I hand out a subject to detailed training.

    For me;  <5 yrs ownership (low equity),  some lien, or bankrupcy or divorce.  Typically I'm targeting home owners / occupants.

    If you are attempting wholosaling or off market buying a flip then you need high equity, long years of ownership, >15yr.    PS has added a bunch of pre set filters in the Quick list choices drop down.  The new ones are at the bottom of the list.  No direct experience with them.

    The biggest tip I think is what area to target.  I hear that more likely success is in smaller towns >45 min from your target city.  IE give up on your major city and do post cards to small towns >45 min away.  ;(

    Buy/read BP's Zero down creative deals book.   IMHO the oppoortunities going forward in this inventory scarce market are creative, not high equity wholesales.  Learn how to buy and hold using creative tactics.  I'd like to be shown wrong, but my view is wholesaling for newbies is dead,, least till the next 2009 like crash.  Too much work today.  Creative is easier but is a "knowlege" business.

    Go to youtube and watch: "creative deals", "lease option", "subject to". Buy Joe McCalls education plus at yourr local REIA.

    Best of luck.

    2Reply
  • Ron Hollingsworth
    OP
    Investor · Phoenix, AZ · Member since 2017 · 109 posts · 30 votes
    4y

    I am looking for problem homes that investors want to get rid of.

    0Reply
  • Ron Hollingsworth
    OP
    Investor · Phoenix, AZ · Member since 2017 · 109 posts · 30 votes
    4y
    Quote from @Curt Smith:

    My target are LOW equity to NO equity.  Thats right I want deals wholesalers / flippers can't use.

    I ran a search with those filters for no or low equity and I searched about 25 of them in MLS and 23 of them just closed escrow in the last 3-4 months.


    0Reply
  • Curt Smith
    Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
    4y

    @Ron Hollingsworth Yes yes seen that.  I try to filter recent sales out

    ownership >2 yr <8yr

    Not listed (this helps filter out recent sales who's date is recent)

    Its NOT PS's fault, its due to slow public records filings.   The banks security deed on a new sale beats the warrantee deed change into public records triggering the low equity and my owner ship yrs still is true (on the prior owners warrantee deed date).   This will give y9ou that list of recently closed homes.   No solution its a publicc records race track problem.   Not listed and NOT a filed listing etc will help, but not eliminate these recent sales bad leads.

    Just pull bigger lists and eat the bad data.  Its the ugly fact in marketing, the lists you are buyig/pulling have alot ALOT of bad data.

    ;(

    0Reply
  • Jake Soper
    Real Estate Consultant · Lawrence, MA · Member since 2020 · 216 posts · 157 votes
    4y

    If any of you mail to these prospects, I can show you some simple methods to put your postcards ahead of the generic ones you see on PS. works like a charm in competitive postcard markets like FL.

    0Reply
  • Ron Hollingsworth
    OP
    Investor · Phoenix, AZ · Member since 2017 · 109 posts · 30 votes
    4y
    Quote from @Jake Soper:

    If any of you mail to these prospects, I can show you some simple methods to put your postcards ahead of the generic ones you see on PS. works like a charm in competitive postcard markets like FL.


     Let me guess, you sell said postcard?

    0Reply
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