If you’re searching for the best software for real estate investors, you’re in the right place. We’ll explain your options and which platform we think is best for different businesses.
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- Best Software for Real Estate Investors
- What Is the Best Software for Real Estate Investors?
Every software platform for real estate investors may claim to be the best, but there are three that truly stand out. We’ll rank the three best software options for real estate investors and give you an overview of how each platform works in our complete guide.
Software for real estate investors typically exists to help with some of the biggest challenges investors experience, whether it’s steady lead generation, intuitive Customer Relationship Management (CRM), or an all-in-one platform that does it all.
The software we’re looking at in this guide are all-in-one platforms for real estate investors that can help simplify and automate essential tasks like lead generation, marketing, locating and analyzing viable properties, and accurately estimating repair and rehab expenses.
What Kind of Software Do Real Estate Investors Need?
Even if you can handle your day-to-day tasks without the help of software, there’s something important to be said for automation: It can increase your profits and productivity as an investor by giving you more time to concentrate on the work that directly produces income.
Real estate automation allows investors to boost profits, scale-up, and grow their business to an entirely new level. Let’s face it, the majority of time spent in real estate is for non-revenue producing tasks like administration, bookkeeping, management, and marketing, which leaves less time for doing deals and growing your portfolio. -Brad Cartier, Stessa
Most real estate investors will benefit from using an all-in-one platform rather than piecing together the features and functionality of two or more platforms that may not integrate or be compatible.
Using a good all-in-one platform will simplify your work as an investor, keep all your information and data organized in one place, and give you a central dashboard to track your tasks and activities.
Let’s look at the top three software options that help real estate investors automate recurring tasks and focus on making more deals.
Propstream is arguably the best software platform for real estate investors. It’s loaded with features, affordable, and includes functions that many other platforms charge additional fees for or don’t offer at all.
If you’re looking for software that allows you to access targeted lists of motivated sellers, skiptrace property owner contact information, boost your marketing efforts, and make more informed investment decisions, Propstream is it.
Let’s explore the best features Propstream has to offer along with their pricing options.
Targeted Seller Lists: By combining listing data from more than one MLS, Propstream can show you properties and sellers that are likely to be motivated to sell. There are hundreds of search criteria and filter options that let you narrow or broaden your list as much as you’d like.
You can search for expired listings, cash buyers within a certain radius, bankruptcy, properties with liens, homes about to be foreclosed on, sellers who have recently divorced or changed jobs, and more.
Nationwide Property Search: If you’re not focusing your property search in one local area, you know how difficult it is to get access to nationwide listings that are up-to-date and accurate. With this Propstream feature, you can look at detailed property information anywhere in the country by setting a few criteria.
When you select a property that matches your search criteria, you’ll be able to see everything about it – from the last buyer, whether they financed or bought with cash, the owner’s contact information, and more.
Analysis Wizard: This feature can help you in multiple categories, from mortgage calculations and expenses to viewing assessor’s maps and estimating future cash flow from a property.
You can perform rental analysis to see what kind of rental income you could generate from a property and look at tax information associated with the property in previous years.
The Analysis Wizard helps arm with you tons of information about a property so you can make the best investment decision.
Lead Nurturing and Follow-Up: Leads are a big part of investing in real estate, but keeping track of them all and ensuring you follow-up regularly can be tedious. This feature automatically sends an email you’ve prewritten to your leads.
Not everyone is ready to sell right away, so continuing to follow up and nurture your leads can make sure you’re still top of mind when the owner does decide to sell.
Rehab and Repair Estimator: Propstream gives you access to the same tool insurance companies use to estimate repair costs so you can be sure your estimates are accurate. You’ll also be able to view how much the property will be worth after repairs are completed (the ARV – After Repair Value).
Generate Instant Comps: No idea how to value a property? You can instantly generate comps with Propstream, giving you an overview of how much similar properties nearby have sold for.
Marketing Tools: Propstream has a robust group of marketing tools you can use to get in touch with more sellers. Skiptracing, direct mail campaigns, automated email marketing, ringless voicemails, and website landing pages are all useful marketing tools that are included with every plan.
All-Inclusive Plan | $97/month
Every Propstream plan starts with a 7-day free trial, so you can learn the platform and decide if you like it before you pay for your first month. There’s only one plan offered, so it’s not really customizable, but you get all the above features for one, low price.
For less than $100 per month, you get lots of great features, including up to 10,000 property data exports each month, unlimited searches, all the marketing and lead generation tools, the Analysis Wizard, Instant Comps, and the Rehab and Repair Estimator.
More than 100,000 real estate investors use Realeflow. It’s an established platform that has been around since 2007, with features continually being added.
Realeflow is a truly all-in-one platform that combines lead generation, online and offline marketing, property prospecting, and repair estimates into one platform.
Realeflow is one of the best because of its wide range of features just for investors: Finding motivated sellers in specific locations, analyzing potential deals and determining a fair offer, and accurately estimating the cost of rehabbing and repairing a property.
But it doesn’t stop there. When you use Realeflow, you get a professional real estate investor website included, multiple marketing options, and easy seller lead generation. Below are the best Realeflow features that make it number one on our list.
Leadpipes: This feature allows you to search for motivated sellers with some of the most advanced search criteria in the industry. Maybe you’re looking for sellers that have recently inherited property.
Or maybe you’re seeking bored investors, low equity properties, or sellers experiencing a life change (divorce, job change, etc.), Realeflow can connect you directly to them. You can also do simple searches by zip code, county, and city to see a broader range of properties.
DealAnalyzer: One of the stand-out Realeflow features is the DealAnalyzer. When you use it, you’ll be able to compare the current asking price of a property with how much it’s been sold for in the past.
Quickly determine your potential profit, get an instant recommendation for a starting offer, and input information about your own circumstances (financing, holding times, etc.).
Hammerpoint Property Rehab and Repair Estimation Tool: This unique feature gives you an accurate estimate of how much you can expect to spend rehabbing and repairing a specific property.
The figure is based on local contractor rates, materials and tools needed, and specific issues with the property. As you walk through the property using the Hammerpoint, the software will guide you to check specific areas for problems.
You’ll note any additional repairs you want to have done, and the tool will generate an instant estimate report. The report includes estimates for the cost of materials and hiring local contractors.
A really useful part of Hammerpoint is the link with Home Depot that gives you the exact barcodes of the items you’ll need so you can bring your report to the store and know you’re leaving with the correct materials.
Real Estate Investor Website: Every Realeflow user gets a lead generation website included with the monthly plan. Once you enter your text and information on your website, you can “set it and forget it” – no maintenance or design required.
Realeflow websites are easy to customize, but if you want to leave it as it is, you can. No web design experience is needed to get your investor website online and start pulling in new leads.
You can add lead forms (give your leads a place to enter their contact information), drag and drop any element on the page where you want it, add new landing pages to advertise specific listings, and more.
Marketing Tools: You have a few marketing tools you can take advantage of with Realeflow, including email marketing automation and direct mailing features. Prewrite emails that will automatically send to leads.
These leads include owners who submit their contact information on your website, have Realeflow print, stamp, and mail your direct mail materials, or generate your own postcards to print, mail, and send on your own.
Lite Plan | $75/month
- Includes one user, a website, motivated seller search, marketing tools.
Pro Plan | $125/month
- Includes ten users, ten websites, motivated seller search, marketing tools, plus a few other tools.
Team Plan | $175/month
- Includes unlimited users, unlimited websites, motivated seller search, marketing tools, full access to all other tools (Hammerpoint, repair and rehab estimator, etc.).
When investors discuss the best software options, REIPro is often part of the list. It’s been around since 2015 and is quite established in real estate investor circles.
Compared to Propstream and Realeflow, its features are somewhat limited, but it does offer some robust functions at an affordable price.
Property lookups, seller lead searches, comps, and marketing tools are the main functions of REIPro. Let’s take a closer look at the features that come with this software for real estate investors.
Property Lookups: Set your criteria however you choose to find the properties and motivated sellers that meet your needs. Look for cash buyers, bank-owned properties, pre-foreclosures, expired listings, vacant homes, and absentee owners.
After finding leads using the Property Lookup tool, you can connect with them through the system. After all, REIPro gives you access to a library of phone scripts you can use to reach out efficiently.
Lead Nurturing and Follow-Up: Automatically schedule follow-up emails to send to your leads when a specific event triggers it. This helps ensure your leads don’t go cold because you’ve stopped reaching out.
It also ensures that you’re doing all you can to automate your follow-up, and makes it easy to set a schedule and let it run without requiring you to check in with leads each day.
Generate Comps: Find out how much a property is worth by generating comparative analyses with REIPro. You can select different options to make sure you’re truly comparing similar properties.
Filter by things like square footage, number of bedrooms and bathrooms, date ranges, and more. These comps can help you come up with a fair offer for any property you’re considering investing in.
Send Automatic Offers: After you’ve used the comps tool to determine a reasonable price for a property, you can send an automatic offer directly through REIPro using the seller’s contact information. You can also download contract templates from your dashboard, so everything you need is all within the system.
Direct Mail Marketing Tools: REIPro offers direct mail postcard templates so you can reach out to seller leads you find through your property lookups.
If you want REIPro to print the postcards for you, you’ll pay an additional fee (not specified on their website). Use these postcards for your direct mail marketing campaigns, whether you’re sending offers or lease option cards to sellers.
Task Manager: On your REIPro dashboard, you can access the workflow and task manager. This lets you set up processes to follow so you can check off each step of the way and ensure you’re not missing anything.
For example, you can set up a direct mail workflow in the task manager that includes the steps of building a seller list, filling out the postcard templates with their addresses, having REIPro print and send them out, and then following up with those leads in a few days.
Standard Plan | $109/month
- Includes some of the above features, including seller lead search, the task manager, and direct mail tools.
Team Plan | $149/month
- The Team Plan includes all of the standard plan features, plus ten skiptrace reports, a discount on postcard printing, and priority customer support.
What Software Is Really the Best?
Looking through the features offered by each of these software platforms for real estate investors, you can see that the two with the most functionality are Propstream and Realeflow.
These platforms are all-in-one and designed for investors who want to centrally manage every aspect of their deals, from lead generation and marketing to estimating rehab and repair costs and generating accurate comps.
Best for New Investors
REIPro is worth mentioning if you don’t need advanced features or a website, but for most investors, Propstream or Realeflow will prove to be a better choice. For $97 per month, Propstream offers the best value on this list.
Not to mention the considerable number of robust features that can help investors automate and organize nearly every aspect of their work.
Starting at $75 per month (though the $125/month plan offers more features), Realeflow gives investors a lot of bang for their buck. In fact, Realeflow and Propstream can go head-to-head on most features, but Realeflow includes a lead generation website with all of its plans.
At the same time, Propstream only offers website landing pages for an existing website. At $109 per month for the Standard Plan, REIPro is relatively expensive for the limited features it offers.
Still, with unique capabilities like skip tracing and the ability to send automatic offers, it’s worthy of being on the list of the best software for real estate investors.
Overall, using real estate investor software to automate recurring tasks that are time-consuming and simplify more important ones, like lead generation and seller outreach, is one of the best decisions you can make as an investor.