REI Software for wholesalers
Wholesaler · Oakland, CA · Member since 2016 · 5 posts · 10 votes
This is a very interesting thread because I was in the same situation as most of you. I tried most of the software's mentioned and I even became an Authorized Partner for Podio. I couldn't find anything that did all of the things I needed to do with my wholesale/rehab business. Eventually, I decided to create my own software from scratch and it took about 2 years.
@Don Taylor "BASICALLY A SYSTEM THAT CAN TAKE ME FROM A-Z THAT WILL EQUIP ME WITH THE TOOLS TO MAKE ME THE BEST IN MY AREA. Is there any wholesalers here willing to share what system you use and a little on way you use it and how you use it (workflow)."
This is what everyone wants! I have been wholesaling full time since 2001 and I can tell you that Podio is the only one that has the workflows you want. However, you will really need Globiflow to make this work, which is expensive ($120 mo). The other issue with Podio is you need to integrate other products to make it work and this a lot of time managing multiple systems. For the average user this can be difficult and time consuming because there is a huge learning curve which @Elizabeth Wilson and @Braden Smithmentioned, and in my opinion defeats the purpose of this thread because everyone here wants an "all in one" solution. In summary, Podio and Zoho are general CRMs and not designed for real estate investing, so it takes a lot of time to set them up and most typical users will need a developer to make it a "Super CRM" specifically for REI.
Originally posted by @Rori Stumpf:
I want a one-stop packaged real estate investor platform that includes.
CRM for contact management and lead flow management
list building
comps finder
rehab pricing calculator
deal analyzers
direct mail
website for lead funneling
Does such a beast exist? YES
There is software that does all of these things. I have a question for you regarding "list building". Do you mean purchasing a list within the software? Realeflow does this and is this why you prefer that software of the others mentioned here? The reason I am asking is because others are talking about building a mailing list from leads, properties, contacts, etc, and adding them to a mailing campaign and these are different than purchasing lists. This is possible but there is one BIG issue here. IF YOU ARE USING VARIABLE DATA IN YOUR POSTCARDS AND LETTERS each piece you use will have different variable fields, so the Excel sheet will naturally have different column names. What I am saying is you can create a list from leads, properties and/or contacts in your CRM but if your mailing piece has variable data you can't automatically transfer that data to campaign because when you are selecting that record to add to a list you may not know what piece you are mailing. i.e. postcard, letter, etc.
Rori's quote "I like Realeflow but one of the dumbest things about it is that you MUST ADD a property to your leads before you can VIEW it, and then you have to go back and delete the property if you are not interested in it -- a complete waste of time. So I contacted their support and their response was basically -- hey man, that's how it is, and they can't change it (even though it is their system). Ok, sorry I asked... support was lame."
A record has to be entered into the system somewhere but a lead is separate from a property even though you should be able to transfer the data from one to the other with a click of the mouse. This is the example of a good workflow: Campaign -> Direct Mail -> Phone Call (analytic tracking number) -> Lead -> Property -> Comps -> Deal Analyzer -> Contract -> Appointment, etc... You can also substitute email webform for phone call but if you use a tracking number every call is recorded, you have analytics and reports, and you can call the person back and/or send receive texts from that same number. It's much more effective!
Additionally, you mentioned website that's connected to you CRM. Even though Realeflow and Freedomsoft have websites, they are html and not Wordpress, so the SEO isn't very good. Investor Carrot has these Wordpress websites but that means you would need to add $99 mo to the cost of the whatever CRM you are using. You really need Wordpress to compete but you also need this integrated with your CRM , webforms, leads, etc. with features like click to call, live chat, email marketing (lists) and video chat. I developed all of this through wholesaling and rehabbing houses in my area and it wasn't easy. I am still tweaking all of this and it is an ongoing project that takes a lot of my time away from wholesaling.
I have to end this writing now because I can't add any more @names for some reason. I hope this was helpful and feel free to PM me with any questions!
Hey @Don Taylor. I have been comparing options as well so that I can revamp my systems. We are rehabbers but do some wholesaling also. There are too many options out there!
I just cancelled Realeflow. Just wasn't happy with the system overall.
I have heard a lot of people say they use Podio because it is fully customizeable and you can add automation, but there is a learning curve with it.
I've also heard quite a few people say they use and like Zoho, but it seems rather complex.
I haven't used REIPro or FreedomSoft, but I have looked at them.
@Don Taylor - I'm doing the same thing. Signed up for podio but just haven't taken the time to learn it yet. Tried Investorfuse for a few weeks but again I felt like I needed to know Podio before I could know what I needed from Investorfuse so cancelled that. (was super impressed by their support so will probably rejoin in a few months).
Let me know what you come up with. Going to test out some of the ones you mention.
@Braden Smith Thanks for the input. I've heard of podio also, I'll have to look in to it more. I do use Zoho for the free emails. You can purchase a domain from say go daddy then grab a free email from zoho and link it to your domain. So for example, I bought dtaylor.com then set up my domain in Zoho and get a email free! I then link that email to my gmail account to have all of my emails in one account.
REIPRO is great but it has limitations. I'd like to send letters straight from a campaign but it doesn't allow you to. I'd have to export the leads to excel then do a mail merge, too much extra work.
@Elizabeth Wilson Thanks for your time. I haven't heard of Investorfuse, I'll have to look into that one. Thanks.
How much extra time do you put in to do a mail merge? Is this just for letters? I know REIPro offers direct marketing postcard campaigns. Anyone else with insight on REIPro? All info is greatly appreciated.
@Braden Smith Thanks for the input. I've heard of podio also, I'll have to look in to it more. I do use Zoho for the free emails. You can purchase a domain from say go daddy then grab a free email from zoho and link it to your domain. So for example, I bought dtaylor.com then set up my domain in Zoho and get a email free! I then link that email to my gmail account to have all of my emails in one account.
REIPRO is great but it has limitations. I'd like to send letters straight from a campaign but it doesn't allow you to. I'd have to export the leads to excel then do a mail merge, too much extra work.
I am interested in REIpro as well. What is your opinion on it Don? Contact management, deal flow, lead generation
Zoho is a vanilla CRM to manage leads. It's a good CRM, but not what I am looking for.
I want a one-stop packaged real estate investor platform that includes.
Does such a beast exist? I'm going to look at realeflow.com, myreipro.com? Any others?
@Rori Stumpf - if you find anything close, please report back here!!
@William F. -- integration is the key for me. I don't want to waste my time moving data between systems to stay on top of prospects. So my top 3 must have's would be:
- CRM property and contact management
- List Building
- Direct Mail
The other features can be more easily split off and found elsewhere. The analysis side of things - finding comps, deal analysis, rehab calculators etc and all on the other side of lead generation.
I have compiled an (incomplete) comparison of Realeflow and REI Pro.
See https://docs.google.com/a/rori.me/spreadsheets/d/1...
I like Realeflow but one of the dumbest things about it is that you MUST ADD a property to your leads before you can VIEW it, and then you have to go back and delete the property if you are not interested in it -- a complete waste of time. So I contacted their support and their response was basically -- hey man, that's how it is, and they can't change it (even though it is their system). Ok, sorry I asked... support was lame.
I think the UI of Realeflow is more intuitive and easier to use in most areas.
REI Pro allows you to add a property to a direct mail campaign from the property page.
REI Pro provides some important info about properties that Realeflow does not -- for example, previous year tax amount, mortgage history.
All in all I think Realeflow has more to offer and is more well rounded than REI Pro but you really need to try both and decide for yourself - they both have free trials.
NOTE: I am not associated with either company in any way.
I don't use Freedomsoft but I do know the Owner, Rob Swanson, is VERY ACTIVE in answering people's questions and helping them expand their business.
@William F. -- I just feel Realeflow is better suited for what I need as I intend to have a mix of deals - wholesale, rehab and possibly rentals. REI Pro feels like a sequential workspace (based on what stage the deal is in). If you're considering either, just sign up and try them out. I knew right away which one I preferred.
@Rori Stumpf Thanks for your excel comparison of the two REI CRM software.
I've been contemplating each one and your document makes it easier to decide.
Of course, which is best depends on the each investors business model and goals, so no one size fits all.
Are you still using RealeFlow how is it going?
@Maurice Miller, I should have an update on my RealeFlow experience within a week or so.
@Rori Stumpf interested in hearing your review of Realeflow as well. Currently in the same position trying to decide which CRM to use for my REI business. Thank you to everyone for sharing your insights and reviews on this thread.
Rori Stumpf which 3 of these features is the most critical to you?
For me, it would have to be contact management by Property (not Person).
So if you could have only 3 things on that list, what are they?
This is a very interesting thread because I was in the same situation as most of you. I tried most of the software's mentioned and I even became an Authorized Partner for Podio. I couldn't find anything that did all of the things I needed to do with my wholesale/rehab business. Eventually, I decided to create my own software from scratch and it took about 2 years.
@Don Taylor "BASICALLY A SYSTEM THAT CAN TAKE ME FROM A-Z THAT WILL EQUIP ME WITH THE TOOLS TO MAKE ME THE BEST IN MY AREA. Is there any wholesalers here willing to share what system you use and a little on way you use it and how you use it (workflow)."
This is what everyone wants! I have been wholesaling full time since 2001 and I can tell you that Podio is the only one that has the workflows you want. However, you will really need Globiflow to make this work, which is expensive ($120 mo). The other issue with Podio is you need to integrate other products to make it work and this a lot of time managing multiple systems. For the average user this can be difficult and time consuming because there is a huge learning curve which @Elizabeth Wilson and @Braden Smithmentioned, and in my opinion defeats the purpose of this thread because everyone here wants an "all in one" solution. In summary, Podio and Zoho are general CRMs and not designed for real estate investing, so it takes a lot of time to set them up and most typical users will need a developer to make it a "Super CRM" specifically for REI.
Originally posted by @Rori Stumpf:
I want a one-stop packaged real estate investor platform that includes.
CRM for contact management and lead flow management
list building
comps finder
rehab pricing calculator
deal analyzers
direct mail
website for lead funneling
Does such a beast exist? YES
There is software that does all of these things. I have a question for you regarding "list building". Do you mean purchasing a list within the software? Realeflow does this and is this why you prefer that software of the others mentioned here? The reason I am asking is because others are talking about building a mailing list from leads, properties, contacts, etc, and adding them to a mailing campaign and these are different than purchasing lists. This is possible but there is one BIG issue here. IF YOU ARE USING VARIABLE DATA IN YOUR POSTCARDS AND LETTERS each piece you use will have different variable fields, so the Excel sheet will naturally have different column names. What I am saying is you can create a list from leads, properties and/or contacts in your CRM but if your mailing piece has variable data you can't automatically transfer that data to campaign because when you are selecting that record to add to a list you may not know what piece you are mailing. i.e. postcard, letter, etc.
Rori's quote "I like Realeflow but one of the dumbest things about it is that you MUST ADD a property to your leads before you can VIEW it, and then you have to go back and delete the property if you are not interested in it -- a complete waste of time. So I contacted their support and their response was basically -- hey man, that's how it is, and they can't change it (even though it is their system). Ok, sorry I asked... support was lame."
A record has to be entered into the system somewhere but a lead is separate from a property even though you should be able to transfer the data from one to the other with a click of the mouse. This is the example of a good workflow: Campaign -> Direct Mail -> Phone Call (analytic tracking number) -> Lead -> Property -> Comps -> Deal Analyzer -> Contract -> Appointment, etc... You can also substitute email webform for phone call but if you use a tracking number every call is recorded, you have analytics and reports, and you can call the person back and/or send receive texts from that same number. It's much more effective!
Additionally, you mentioned website that's connected to you CRM. Even though Realeflow and Freedomsoft have websites, they are html and not Wordpress, so the SEO isn't very good. Investor Carrot has these Wordpress websites but that means you would need to add $99 mo to the cost of the whatever CRM you are using. You really need Wordpress to compete but you also need this integrated with your CRM , webforms, leads, etc. with features like click to call, live chat, email marketing (lists) and video chat. I developed all of this through wholesaling and rehabbing houses in my area and it wasn't easy. I am still tweaking all of this and it is an ongoing project that takes a lot of my time away from wholesaling.
I have to end this writing now because I can't add any more @names for some reason. I hope this was helpful and feel free to PM me with any questions!
Buyers on fire?
Does anyone know if any of these programs (REIPRO, Podio, etc. ) if they charge extra to skip trace a phone number? I see that REIPro gives a list but does not include a phone #. The software offers a way to look up numbers by address but do they CHARGE for it or is it included with a membership? Thank you
Yes, REI Pro does charge I think a $2 or $5 fee to skip trace phone numbers and close relatives. There is also a free option, however, they don't guarantee a number will be available.
@Don Taylor @Rori Stumpf I know it's been over a year later but I was interested in the decisions that you made on your CRM hunt and what are your biggest Lessons Learned...
they have since changed that. You can now send directly from a campaign