All Forum Posts by: Sarah Hale

Propelio is the only service that I have used so far that I have liked @Hector Lozano. I have tried FlipComp, but the data isn't complete, and the filters to use for a property wasn't user friendly. A lot of information that Propelio gave you, FlipComp didn't come close. However, FlipComp maybe in more areas than Propelio at the moment. I would at least try it, they do have a 30 day money back guarantee. 

I have a cute single family home rental property that has 800 sqft with 3 bedrooms and 1 bathroom located in Bonham, TX for $43,500. Very simple home with clean lines. Current rent is at $675/month and the tenant has been there for a couple years. 

Here is a link to more pictures: https://drive.google.com/open?id=0B-GOEIkZnZSCZll6...

Please message me if you would like more information!

@Carrie Cavins, thanks for sharing your experience! I'll make sure to have enough patience and reserves when moving forward. 

@Neil Aggarwal, and I unfamiliar with the Fort Worth area. Forgot to mention that :)

@Dave Van Horn, thanks for the auggestion! 

@Neil Aggarwal, one of the main reasons I would like to work with someone who has had experience with foreclosures is because the seller is a bank, and this would be the first time I'm dealing with a foreclosure, so having someone walk me through it at least once will give me confidence to pursue another one in the future. 

Hello BP,

I was hoping someone would be able to refer me to a real estate agent in Fort Worth that has experience with foreclosures. This property I'm looking at is a REO and is on the MLS.

Thanks for the help!

@Marc Tuckey, no worries! I am more than happy to help out when I can. I wish you much success :)

Ok @Marc Tuckey, I am ready to answer your questions. 

1. Are the updates instant as the MLS? You may not be able to determine without the MLS but have you seen latency on postings, updates, etc., say compared to Zillow or Redfin? Propelio doesn't actually offer straight listings from the MLS, it's more like a manager for your leads. So say you get an off market deal, enter in the address into the "Leads" Section and it'll pull county records to fill in the bed/bath/year/garage etc. Then you can run a CMA on that particular property using the MLS.
2. Are the analysis tools good / intuitive? - The CMA tool is pretty cool. Very easy to enter the parameters. It'll pull sold properties first and it will have a "thumbs up" button or "thumbs down" button so you can discard the ones that don't work for your analysis. You can also click on the address of the properties you are comparing, and it usually will have photos so you can see the grade of the renovations.
3. How about the "Motivated Seller" leads they talk about offering. Do those add value? - I like this part, and you can get a lot of properties depending on what exactly you are looking for. You can only pick certain markets though; currently they have Dallas/Fort Worth, Phoenix Area, South West Florida, Austin, Houston/Galveston, and San Antonio. You can also choose what kind of properties you want to look at, price point, etc. There are listing that pop up that have been on the market for a very long time, and I think they pull properties that are priced under what is selling in that area. There are some potential properties I need to call and see if I can walk through. The one thing that irks me here is that you can take that MLS listing and "Add as a Lead", meaning it will transfer the address to your leads list. However! The bed/bath/year/garage all has to manually entered. The integrating there is a bit meh.
4. Do you get all of Texas or do you have to pick a market? - Dallas/Fort Worth, Phoenix Area, South West Florida, Austin, Houston/Galveston, and San Antonio is all they have currently. But there are some listings in Abilene or Corsicana that pop up when I search Dallas/Fort Worth. 

Overall, this software is pretty slick. The way all the information is laid out is really easy to understand and look at. It is a lot of fun playing around with it. Also, since they send you motivated seller lists, they email those to you, and then you will have to put it into your leads list. It's not built into the software, this might make it easier for you to be able to upload the information to a service you're using or something. I like it a lot, and I'm glad I was able to try it out. If you have any more questions, feel free to shoot me a PM or tag me. 

Hey @Marc Tuckey, I will definitely write a review for y'all. Was there anything you wanted me to test for you that you were interested in specifically, just so I write something worth your time?

@Victoria Townsend, why do you need to be incorporated? Are you planning to take your company public in the future? I would reach out to a local Real Estate attorney that you have met at the REIAs. I am not familiar with California law, but here in Texas, you can file as an entity yourself for around $350. It won't save you time, but it'll save you money. And for LegalZoom, they cannot provide advice or guidance because they are not a law firm, they just prepare documents. I'd rather pay a little bit more money to file an entity with a lawyer because they can guide me. 

But this is just my experience, I am not a lawyer/this is not legal advice...