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!
Tim Herndon what's the name of the product you invented to handle all of our REI needs? Why would you leave us hanging like that?
I have been using REI PRO SOFTWARE.... I LIKE it! Very helpful..lots of education and always updating info.
how do I tag someone?
@Tamika Thompson - I'm just getting started too, interested to know if you got one of those kits and what's you experience with it. Is it worth it or not? I've been looking at PropStream, REIPro, and Realeflow.
Any Investorfuse users?
try REI Black Book . built in web site, landing pages all customizable choose a domain or port your own. web form integration tracking. phone, text ,email automation, ringless voice mail. separate phone numbers to choose from for your automation and the list goes on. helpful training videos to assist you on your journey. replay webinars all built into the system. subscription? yes. a choice between 3 plans. check it out. might not be for everyone but everyone should check it out. my two cents.
Hi I'm looking to learning more about REI Software so that I can become a successful property consultant investor.
I just looked at a video that the owners of freedom soft has on youtube, its over an hour, but its the best ive seen so far, it does everthing you would need to do
IMPORTANT NOTICE TO THE SPEED READERS: I am looking at this from a wholesalers perspective exclusively.
What I use: Used Propstream (Now Repropfinder), Used/Still Use Realeflow
Considering: InvestorFuse 2.0 CRM (considerably more expensive than competition but could be worth it, idk)
Considering: Flipster (attracted to the fact that is has many of the same features as repropfinder/propstream but "claims" to include skiptraced content like phone numbers and emails at no extra charge)
Distant 3rd, Considering: REIAutomator (some of the guru trainers or whatever advertise this , I see it as a clone of repropfinder/propstream and have not read anything new that is significant enough to truly seperate themselves)
REI Pro: Never used it, I have seen this one a bunch, but for me I just have not really seen how this seperates itself in any major way from Repropfinder or REIAutomator. But I have not used it, I have only watched youtube videos of it being used and seen screenshots and the layout is 97% the same as Reprofinder and REIAutomator...There are few features that look different like "Rehab Workflow System" but I am not sure if 1 or 2 features is enough to really say its better than one vs the other, IMHO.
IMHO between Propfinder, REIAutomator and REIPro there is no major difference and you will succeed with either of these but in my Book these are not CRMs.
Regarding the topic of CRMs for RE Wholesalers/Investors.
Propstream is now called "Repropfinder", I would not really call it a CRM at all. It does provide leads, lets you send out mail automatically, skip trace, extra complicated but rock solid BLUEHAMMER (localized) rehab calculator, Solid Comps in most markets, Good ARV estimator tool, etc....But it does not really manage the flow of interactions like a CRM would, the system is not really built to track notes with multiple conversation points, IMHO. It is a good source of leads and I have contracted and closed pre-foreclosure deals based on their data exclusively so its legit in that aspect. But when it come down to managing the work flow, and having multiple properties to you are looking to wholesale, managing the follow up, you would have to do all those things in system like Realeflow.
Realeflow in a dedicated CRM with some additional benefits does some of the things that repropfinder does like you can pull comps (Reprofinder does it better #facts), gives you an automated ARV estimate (not very good) , lets you send out mail from the system at the press of a button, also Realeflow offers more leads types you can "pay extra for" that would otherwise be included in Realeflow or Flipster or REIAutomator for no extra charge.
One thing that I have found great use of is Realeflow's power matching feature, it lets you match your deals with other uses buyers that have the corresponding buying criteria or VICE VERSA. This has created some exceptional collaborative relationships with other investors that have lead to deals being closed.
What i do not like about Realeflow has been mentioned by other users, it nice but it slow to move around, you have to go in an manually delete alot of content to keep the system clean, and moving between the different systems/tabs/features will NOT be fun for someone who likes to work very fast, IMHO its a decent "starter CRM". Just moving around updating notes from my properties to my contact is very very very slow. But most of all it lacks any sort of follow up system or follow up automation and we all know the "fortune is in the follow up". So for me it has never really done what I hoped it would. I desire to move faster and get more done through technology and automation, I do not want just a pretty dressed up version of GOOLGE SHEETS that requires to me go in and manually tweak every single bit of content. This is why I am going to switch from Realeflow. My needs exceed that of a Starter CRM.
I was initially attracted to InvestorFuse because of the "claims" that it has some tools built in for follow up (Never used it). I have also heard that it links with Podio (another tool i have never used). From what I have heard about Podio it is a highly customizable system that is focused on follow up but has a steep learning curve.
My search for a Real Estate CRM with a strong follow up system built in for AMs to between track their follow up continues...hopefully this helps your comparison.
FYI: I do not work for any of these companies. I say what I want, because I am signed to me.
Cheers.
I am new to wholesaling. I am looking for an all in one investment tool. I am currently use propstream but I’m looking fro a good CRM. Something not overly expensive but it does everything in one place.
Very interested in this thread also - I know it's a few years old but I am currently evaluating between PROPSTREAM & REALEFLOW. If anyone has any thoughts on these two please let me know.