Anyone Using Prospect Now??

32 Replies

I've come across this product, and I'm now testing it out. It's an online commercial real estate database of six million building owners, including phone numbers, mailing addresses and building details. The database includes all forms of commercial real estate, and multifamily start at two units.

Has anyone tried it out??

Sandy,
I am not trying to rain on your parade, but it is nearly impossible to find a commercial owner. There are so many partners and investors in most deals, you will probably just get to a manager. I know anything I am involved with is pretty deeply burried. I could not imagine being on any list. I would just use a tax mailing address list, it should get you as far as any paid service. Good luck.

Thanks for the replies. Here is the link: http://www.prospectnow.com/

@Don Konipol , I just signed up for the trial period, and am just familiarizing myself with it's functions. I want to check it out in my capacity as a broker, but my primary purpose is marketing for small multifamily properties to wholesale.

@Rob Gillespie , no worries, I'm always open to good advice. This service does actually give you contact info on LLC's, partners & trusts as well. However, I'm in the process of compiling my lists as we speak, and was really looking for something to supplement that if needed. BTW, I sent you an email yesterday regarding a direct mail thread that I came across where you shared info on the delivery of your yellow letters. I am very much interested, and hope you can find a minute to respond.

Thanks again.

@Sandy S Harris I had actually put a thread on here asking that same question awhile back and got no replies, so glad to see it here! I just talked to them this morning. If you watch the video it shows that on 'some' of the listings you can even get email addresses.

It looks like a great tool. I'd like it so that if we're building a project I can contact owners of neighboring properties, potential tenants, etc.
If we're building an office building and find the neighboring owners, we know they already like the area, know the market, and are great prospects to start with!

I thought for my purposes Prospect Now along with Parcelquest would cover quite a bit of info.

For those of you using it, please keep us posted!

I love it!!!!!! Contact CRM, automatic label printing, automatic letter mail merge, and I get to do all kinds of detailed searches. I signed up for 3 counties, and have built 6 different search lists and mailing campaigns. It is not a magic bullet and they have little to no info on small population counties. But for major market Texas counties it is pretty darn nice. Again, it isn't a fix all, but for what I plan on using it for, it works very well. $89 a month for the first county and $8.99 for each subsequent county. You can also just purchase one month at a time and sign back up later, or change counties if you want. Just like every other tool, it depends on how you implement it

Hey guys I know this is an older thread but thought it might be useful to someone else who maybe searching for info on prospectnow. I’ve been using it for about 4months now, my partner and I use it. It’s very convenient when researching a commercial building. You get property owner/ LLC members info, recorded documents such as liens and loans, sale dates, their current lender info. Where I’m at in Las Vegas this is all public info you can gather from county and secretary of state websites. But in my opinion it’s made researching properties much more effective and efficient. Yes @Chris Clark you also get the phone number for the supposed decision maker CEO or managing member if it's available. One of the first calls I made to a building owner was the owner wife’s cell phone. She was a bit surprised we called her number, that’s when I knew this thing worked J So not always the correct # directly BUT its a path.

You can merge with Salesforce and another program I believe. The Tenant search is pretty neat as well sometimes gives you info of how big company is, number of employees, contact info, lease expiration.

Hope this helps, it is a bit pricey at around $90.00/ month but worth it if you’re going to use all its features.

We used it for postcards and research and found the response to be very disappointing. Seems like it is built for commercial market primary. They do accurately scrape the city/coutny records for basic information but lots of the units are listed in family trusts and use po boxes. Didn't have much luck telemarketing to the phone numbers either. 

I'd also warn you that the pricing is discounted for annual memberships BUT THERE ARE NO REFUNDS. We tried to cancel and begged for a reasonable amount credited back but after a 30 days were politely told the terms clearly state no refunds, despite my plea for fairness. Unless you are real sure about the value, be careful how long of a term you commit to.  

Hi Sandy,

I just came across this thread, I am looking at tools, and Prospect Now is looking

quite interesting. Did you ever try out the product, and if so what thoughts

would you share?

Thanks in advance.

Fred

Hey @Sandy S Harris  ,

I use ProspectNow. And I love it. I can find pretty much anything I want about an owner of a property on there as well as sale dates, LLC info, etc.

Here is an interview that ValueHound has on their site about ProspectNow.

http://www.valuehoundacademy.com/public/EXCLUSIVE_INTERVIEW_Finding_Great_Off_Market_Deals_Using_ProspectNow.cfm

I just tested out this product and in my opinion, I wouldn't use it. There's too many restrictions and the system is cumbersome to use. Also, the only way that you can mail out more than 500 is by paying more or using their mailing system.  I found that most of the phone numbers were disconnected or no longer valid. 

Used it this month and last month, under 10% of my data was incorrect. 

Issues:

+I double checked the records against 2 other property profile sites that are available to CA realtors, Realist and the other can't remember. Under 10% were incorrect. I'd notice some records state incorrect owners or mortgage recording dates that are older than purchase dates. I had called some that listed previous owners not the current.   

+I also discovered that if you search for multifamily in other states/counties like in Texas, it can't tell if it's Multifamily (5+ doors) or 2-4 units. When you perform a search for multifamily in certain states/counties you'll notice the numbers are really low. I asked customer support and they stated because every county records different data and characteristics. Some do not list the # of units and some put both triplex and 10 unit property in same category. So if you search on 10-50 units you'll get an inaccurate list. I found this out calling and mailing to out of state owners. You think you're calling the owner of a commercial/multifamily property, but it's actually individual condo owners. This happened multiple times. 

+If you try to share it with someone else they require email verification or which may or may not work.  

It has great potential, and decent price if you're ok with some errors.