I've been a lurker on here for awhile and decided to create an account to respond to the OP. I'm not really sure why people are hating on the software, but saying "its pretty much useless" with no further comments or why it's useless seems a bit odd. I have been using Propstream for a little over a year and a half and feel it has helped me overall in finding foreclosures. The tool I use the most in the software is the analysis wizard. If you're looking for flips or rental properties, I feel this helps with figuring out rehab costs, rental income, etc.
I am investing in California, so I can only really speak for that area, but I have referred a friend who invests in Nevada and he seems to like the software as well.
I googled it and see a large number of bad reviews, including the words "fraudulent" "ripoff" "difficult to use." I have no experience with it, just looking for something similar.
We have the prop stream and it isnt that helpful and not all properties are updated correctly. I checked a property that was a family members and it was sold over a year ago and it was still under their names like it was current.
I've been a lurker on here for awhile and decided to create an account to respond to the OP. I'm not really sure why people are hating on the software, but saying "its pretty much useless" with no further comments or why it's useless seems a bit odd. I have been using Propstream for a little over a year and a half and feel it has helped me overall in finding foreclosures. The tool I use the most in the software is the analysis wizard. If you're looking for flips or rental properties, I feel this helps with figuring out rehab costs, rental income, etc.
I am investing in California, so I can only really speak for that area, but I have referred a friend who invests in Nevada and he seems to like the software as well.
I came across this post while researching propstream, it seems they have gone through some updates recently. Is anyone using this software that can post there experience with it thanks.
The people who provide PropStream also seem to be hosting the install file for the current version of a program sold thru the Yancey ("Flipping Vegas") organization called Property Pro. I've not seen PropStream yet. So, not sure how they compare.
Does anyone have experience with both PropStream and Property Pro who would be willing to share their experiences?
Yes, I can say that Property Pro pretty much is amateur and incomplete. I am a real estate agent with access to multiple MLS systems. I look to the other system to find an easy way to gather foreclosure info. This system is not easily searchable. It limits your searches to 25 properties at a time. You can not cut and paste anything so you have to write everything down.
If you save a property, it is cumbersome to get back to the place where you were. The analysis feature is not worth anything unless you know the property condition.
As far as I can tell, Prop Stream and Property Pro are either clones or closely related. When closing Property Pro, a message comes from Prop Stream. That's a clue.
If you're tyring to make a list with these, don't waste your money.
If you bought this at a 'make a million with real estate' seminar, I'd bet the information is a amateur as the program.
I was able to use Realtor.com, look under the sold properties tab and find the same comp.'s my agent brought over yesterday. It even listed local sales which had closed that day (Jun 7th).
I have recently switched from using Propstream for over a year now to using Propertyradar. It's a huge difference in the amount and details of the information you have access to. Propertyradar has three different packages to choose from and is a bit more expensive then Propstream, however, the resources it provides are better.
Are a few extra dollars a month worth the potential it can generate?
We have had good luck with Propstream and bought several properties through marketing to the lists we get off of there. My wife is also a real estate agent and the MLS has some great resources too, but I like Propstream for creating excel spreadsheet property lists in our mail merge. The biggest criticism I have is that the address information is not always pulled from the county records. When I create an excel spreadsheet, the mailing address will sometimes need to be updated manually from the county website, so that is time consuming and we have had a V.A. do that for us some of the time to make our lives easier. The other problem is that the information is only as accurate as the county websites it pulls data from, not the Propstream software. Some counties really stink as far as updating the information way too slowly. It took us some time to learn the software and use with other tools, but it has made me money.
If you bought this at a 'make a million with real estate' seminar, I'd bet the information is a amateur as the program.
lol I'm sitting in a local "coach" seminar right now, and PropStream is part of the pitch for their $12k, $22k, and $32k packages.
I was sitting two rows behind @Robert Lorenz I just got off the phone with their rep, I was researching the software. The customer service rep said they do not actually sell the software directly to users. It is sold through contracts to most likely students of RE teacher/ mentor programs. It does not seem like a replacement to access to the MLS. The rep said they pull their info from the county assessor's office so the real bonus would be access to the Cash sales that are not available on the MLS.
I think you mean it pulls info from the county recorder's office. The assessor does the tax calculations.
...but, yes - even if it's not officially recorded anywhere that a sale went through with no financing contingency, any deed conveyed without a matching mortgage or deed of trust is quite possibly a "cash" sale (that is, the party(-ies) (if any) providing funding did not record a lien against the property subsequent or pertinent to that conveyance).
You'll find that through documents recorded with the county.
I also use PropertyRadar and I like the web interface. The only draw back is they only have the info for western states - CA, NV, AZ, WA and OR. So, you are out of luck if you try to find the property info for other states. They update the info frequently.
Also, as you might already know, the BIG different in the software is ... how frequent they update their database info for the properties included sale pending, FC status, NOD, etc. I heard that they have someone goes to the county recording record and get the info either daily or weekly manually. Not sure that still the case now-a-day
Well, that's the way I did if I want to find more info on the local properties by drive down to the county recording office and login to their computer and do research.
Thanks @Bac Nguyen. Yes we update daily, and not just with new notices (which take a few days to get from the county), but also with the status of each notice based on what happened at the trustee sale that day (same day).
@Sean OToole , I can't wait till you reach the East Coast, specifically North Carolina. :) Your site looks amazing and I was so excited to find it...till I realized it is all West Coast.
Does anyone know of a site similar to Property Radar or Property Farm (too expensive) that is currently in NC? Just until I can sign up with Property Radar! ;) I'd love something that updates with Court/County records.
Thanks @Tanya Bacon. My two go to national recommendations are the Corelogic products Listsource (for lists) and Realquest (for property data). The data is good, but they are both relatively expensive.
So I am debating between Propstream and REIPRO as both my CRM and lead generation. One major difference that I see is the former has tax lien leads, and MLS leads than the former. I also did a comparison between the two programs using my zip code for vacant properties. I saw that Propstream had 30 more properties than REIPRO. Now I'm not sure whether that's because Propstream hasn't taken off the ones that are no longer vacant or in fact they just have more than REIPRO. Two things that I did see between the two is that REIPRO gives more of a step by step process as to what to do from speaking with the seller to getting paid on the deal and everything in-between. Another thing that I noticed is that the Analysis portion on REIPRO is a lot more robust with the use of varies acquiring and exit strategies than Propstream.
Hi @Chukwuemeka Emmanuel Nwozuzu, I wish we were in Maryland already and could help you directly. We are making progress in that direction. Until then I have a few thoughts:
1. Do trials before you buy anything and back test the data against your local knowledge, your tax assessor, recorder, etc. Data quality varies not only by vendor, but by county.
2. During the trials also pay attention to which product you enjoy using more. Sometimes enjoying the experience is as important as features, as you are more likely to spend more time doing it if you enjoy it.
3. Be wary of "do it for you" templates. It's awesome to provide scripts, but if the solution becomes popular you'll find that the leads have multiple people calling saying exactly the same thing, which only frustrates people and makes you look bad. We made this mistake years ago by providing a handful of sample postcard templates for preforeclosures. We had an area with a lot of investors, and they all started using our samples. We ended up talking to one of the folks in preforeclosure and they got the same postcard from 20 different investors. That doesn't help anyone. :-(
4. While analysis tools like ROI calculators are certainly helpful, they are easy to find elsewhere and easy to build yourself in excel. Treat that as a nice to have in your product evaluation, rather than the basis of a decision. Focus instead on data quality, usability, and cost effectiveness.