DealMachine Review: Is It Worth It?Nov 02, 2021
Have you ever tried driving around your neighborhood, aimlessly trying to find distressed properties with the hopes of generating more off-market deals? Finding motivated sellers by driving around can be a real challenge for many real estate investors.
You might be able to stumble upon the perfect distressed lot, but if you cannot contact the property owner directly, you may have wasted your precious time and fuel for nothing. If you are a real estate investor who wants to convert your effort into potential market leads and scale your small company, DealMachine might be the app for your real estate business.
- What Is DealMachine?
- What Are The Pros And Cons Of DealMachine?
- 5 DealMachine Features You Should Know About
- DealMachine vs Its Competitors
- DealMachine Frequently Asked Questions
- Is DealMachine Worth It?
What Is DealMachine?
DealMachine is a real estate investor software for lead generation. It is cleverly designed for real estate professionals and companies to help them find off-market candidates, build lead lists, obtain accurate real estate data, conduct batch skip tracing, and perform direct mail marketing campaigns. Here’s a simple overview of how it works:
Step 1: Download The App
After downloading the application on your mobile device, you can start driving around to search for distressed properties. Once you find a property, enter the address and take a photo of the housing using the app.
Step 2: Find Property Information
DealMachine will now find the necessary information about the property, including the owner's name, contact information, mailing address, mortgage information, and other relevant data.
Step 3: Send A Pre-Written Postcard
DealMachine will give you the option if you want to send a pre-written postcard to the property owner, asking them if they have plans of selling. Alternatively, you can call them directly while you are still on their property.
Step 4: Track Lead Response Rates
If the seller failed to respond, DealMachine could automatically resend the email to your potential lead, allowing you to save time and track your lead response rates efficiently.
Check out this short video sneak peek with Alex Martinez, CEO of Real Estate Skills, & Matt Kamp, VP @ DealMachine where they cover some new features for this real estate wholesaling software.
What Are The Pros And Cons Of DealMachine?
To help you decide if DealMachine suits your real estate investing business, let us analyze the pros and cons of this software:
Free CRM Software
Whenever you save property information into DealMachine, the data will be stored and routinely updated in their customer relationship software.
The data is integrated seamlessly, enabling you to efficiently manage your teams, sort out your properties, and gain valuable insights on every deal you make. You can also push your team to perform better by publishing and customizing their tasks.
Pay A Flat Fee For Real Estate Leads
For a flat fee of $49, you can get 4000 real estate leads every month. For those tired of spending their money on an overused and recycled list of sellers, $49 seems to be a pretty reasonable amount to pay.
If you intend to utilize it regularly to search for quality leads, you can efficiently obtain leads instantly with all the features you have at your disposal.
Owner Data That Has 96.5% Accuracy
Securing accurate data is crucial for any business. DealMachine claims to have 96.5% accuracy as it exhaustively searches public records, including third-party data, to get every pertinent information you may need about the property.
Without this data, your driving for dollars effort will be futile. In addition, any real estate professional can attest that it sometimes can be frustrating trying to find a seller’s legitimate contact information. If you want a tool that can provide you with almost perfect data, DealMachine is an app worth giving a try.
Easily Send Out Direct Mail With One Click
With DealMachine, you can send highly targeted real estate postcards to motivated sellers. Since you can include an actual photo of the property, you increase your chances of getting a response from your recipients. Prospective sellers are more likely to engage with you if they see their actual properties on the postcards rather than someone else’s.
The photo will serve as proof that you were actually there, scouting their property. In addition, DealMachine offers an automatic follow-up feature with their direct mail service. You don’t need to worry about doing a follow-up on a potential lead. With this feature, you will know when your emails were delivered and whether they were returned or not.
Capture Leads 24/7
Since the software is downloaded on your mobile devices, you can capture and store your leads anytime and anywhere you want to. You no longer need to manually list down all your potential leads, eliminating the chance of them being misplaced, disposed of, or getting stolen by a competitor.
Real estate agents spend a lot of time on the road, so having the ability to bring your list of deals wherever you go can improve your productivity and overall sales.
Required Driving For Dollars
Driving for hours and searching for potential properties in various locations can be extremely taxing. You have to spend a lot of your time, effort, and money to meet your lead target. It is important to note that this real estate approach will not make you rich overnight.
If you want to earn money with the help of DealMachine, you need to hustle first, so if you are not fond of driving the whole day to gain potential leads, then this app may not suit you well.
Since DealMachine is a software that can easily be used by anyone, the platform could get overly saturated. If you want to stay ahead of the game and get several leads, you need to commit to driving for several hours a day.
Alternatively, you can hire someone to drive around for you, which means you need to make sure that your budget can cover their cost.
Direct Mail Can Get Expensive
One notable drawback of this software is the cumulative cost of the direct mail feature. With every direct mail you send, there is a corresponding amount you need to pay based on your service plan. This means if you keep on sending out postcards to every potential seller, you may end up paying more than you should have.
However, if you don’t reach out to the seller, then you just wasted your time and resources driving around. As mentioned previously, sending a mailer without a picture won’t be as effective, which means if you want your postcards to generate a positive response, you need to shell out a considerable amount of money.
Success Story: How Peter Made A $70k+ Profit From Wholesaling Off the MLS!
5 DealMachine Features You Should Know About
Driving For Dollars Route Tracking
While the driving for dollars approach can undoubtedly lead to profits, it could also be costly in the long run if you don’t have a way to track your driving routes.
DealMachine is specifically designed to support real estate investors in their quest to find quality leads. With its route tracking feature, you can avoid driving the same street twice, saving you precious time and money.
You can also cover every street and organize your team more efficiently, since you have an option to display their driving routes in real-time on everyone’s map.
By doing this, you can target new areas and secure more deals. The app features a color-coding system (green, yellow, and red) that you can use to mark specific locations to know if you need to revisit the area within a certain time frame.
Since you can monitor your team’s driving routes, you can pay them accordingly without unwanted disputes. You can also effortlessly export the driving for dollars data to a spreadsheet so you can calculate your taxes more efficiently.
Real Estate List Builder
One helpful feature of DealMachine, according to several app reviews, is the real estate lists builder. With this feature, you can easily access real estate leads, including foreclosures, preforeclosures, cash transactions, bank-owned, absentee-owned, vacant, cash transactions, cash buyers, and owners of multiple properties.
You can customize your lists based on your preferences so that you can focus on other potential leads. If you know your target leads, you can set filters to help you draw out more highly motivated sellers.
Unlimited Property Owner Lookups
Once you see a property you are interested in buying, you can instantly search the owner’s contact information and get in touch with them in a matter of seconds.
DealMachine can give you all the necessary data so you can proficiently do business with the potential seller. It will save you from wasting your resources on several directory services that do not guarantee accurate returns.
Real Estate Direct Mail Postcards
Another prominent feature of DealMachine as per various DealMachine Reviews is the direct mail postcards. With this marketing feature, you can send unique postcards to highly motivated sellers within a matter of minutes.
What is great about this service is that you can take a picture of the property while you are still on the street, place it on the postcard, and send it directly to the owner. You can do everything on your mobile phone, saving you from the effort of using several different tools. Having an actual photo of the property can strongly engage the seller to contact you back.
Sellers are more inclined to talk to you if they know that you mean business and many of them are tired of receiving substandard postcards in the mail. The more direct mailer you send, the higher your rate of successful deals will be.
Batch Skip Tracing for Real Estate Investors
DealMachine can also help real estate investors find the property owners' most updated phone numbers with their batch skip tracing feature. Based on your needs, you can either trace an owner one at a time or upload an entire spreadsheet.
DealMachine can verify the caller id registered to every returned phone number, enabling you to focus on the number that matches with the property owner. By using this feature, you increase the chances of your messages being delivered successfully to your recipients.
You no longer need to call the same number repeatedly, giving you more time to focus on other motivated sellers.
DealMachine vs Its Competitors
DealMachine is one of the many real estate professional tools available in the market. Since the industry has been rapidly changing for the past few years, it is only natural that this dynamic application has its set of competitors. Let us take a look at how it is compared with other real estate software.
DealMachine vs PropStream
PropStream is a real estate software that's designed to help investors access the entire nationwide property database, build lists, analyze investment deals, and execute marketing campaigns. With PropStream, an investor can dig up data on almost any parcel in the country, including property tax data, assessors parcel numbers (APNs), owner's mailing addresses, mortgage information, linked properties, estimated valuations, and more.
Unlike DealMachine, PropStream has a sophisticated search engine with filters that allow users to quickly sift through millions of leads to find diamonds in the rough. Besides providing comprehensive information, PropStream at its core helps users build lists, which is essentially what DealMachine does on a smaller scale.
PropStream has an emphasis on building lists anywhere in the nation, which is especially great for virtual wholesaling. On the flip side, DealMachine is geared more towards the local investor who is driving for dollars.
DealMachine vs Birddog Bot
Birddog Bot is a tool that can help real estate professionals find and analyze high-quality deals that fit their investment criteria. It is a cloud-based software that can find good deals in just a few minutes. Users can also set it on autopilot, enabling them to concentrate on other important real estate tasks.
As we all know, real estate agents painstakingly go through every listing just to find quality leads, but with Birddog Bot, they can quickly get these leads without the hassle.
Based on its services and the primary feature it was designed for, which is a search engine for real estate listings, it is not a direct competitor of DealMachine.
You may be able to get premium deals from the site, but if you don’t have a way to effectively reach out to the property owner, your efforts will prove to be pointless. Getting the information is one thing, but securing the deal is another.
DealMachine vs Privy
Privy is another real estate tool that can show you where successful real estate investors’ projects occur. The platform is curated to help real estate professionals find profitable investments around the country.
Aside from searching for these investments, Privy can analyze and give you the investment strategies and tactics that best suit your company. They offer a VIP-monthly plan for $97 and VIP-annually for $930. If you want to test out their services, Privy offers a 30-days guarantee for your membership.
Same with Birddog Bot, it is not a direct competitor but can be used in conjunction with DealMachine. Since Privy can help you identify investment opportunities in certain areas, you can drive within those locations and use DealMachine to generate market leads.
DealMachine vs Auction.com
Auction.com is a marketplace that offers foreclosure homes, short sales, rental properties, and residential bank-owned deals. They have sold 451,000 properties to date and have more than 16,000 available for sale.
If you are looking for a fixer-upper to invest in, Auction.com may work for your business. However, for real estate professionals who want to have a wider network of options, DealMachine could give them more value for their money.
DealMachine Frequently Asked Questions
If you are still undecided if DealMachine is a good fit for your real estate business, here are some commonly asked questions by industry professionals.
How Much Does DealMachine Cost?
DealMachine offers a competitive range of prices to suit your needs and budget. For the driving for dollars software, it has a starter plan for $49 per month, a professional plan for $99 a month, and an elite plan for $249 per month.
While for the list builder option, the starter plan is priced at $49 a month, the professional for $74 per month, and the elite plan is offered at $166 monthly. They also have additional products such as advanced campaigns, street pic, mail tracking, and comps, all priced at $20 per month.
How Is The Customer Support For DealMachine?
According to various DealMachine reviews, the company provides excellent customer service. They treat every client with utmost care and make sure that all of their concerns are resolved in a timely manner.
You can easily chat with one of their customer service representatives just by visiting their homepage and scrolling down at their website's footer.
Does The App Require Any Long-term Commitments?
If you are still unsure whether you want to incorporate DealMachine in your real estate business, you have the option to test them out for free for 7-days. For one week, you can experience the complete package of this software that will help you decide if this application matches your company.
Who Is DealMachine For?
DealMachine can help a variety of real estate professionals and investment companies buy more properties and grow their holdings.
Whether you are a real estate investor starting your own business who wants to build your lists organically, a veteran house flipper, or a savvy real estate wholesaler who wants to close as many deals as possible, DealMachine can help you and your company resolve some of your real estate challenges so that you can make most of your leads.
Is DealMachine Worth It?
The real estate industry is a dynamic and highly competitive sector that has been disrupted by technology over the past years. DealMachine is one of the many technological innovations that can benefit several real estate professionals.
It can serve as an all-in-one support tool for your driving for dollars endeavors. You can proficiently drive around and scout neighborhoods for distressed properties and get in touch with the property owner in a matter of seconds.
DealMachine is also highly regarded by various professionals within the real estate industry and has been reviewed by a number of reliable critics. It is priced competitively, giving you an option to choose a package that suits your needs and preferences.
You can add additional features just by paying a nominal fee. The company also prides themselves for their excellent customer support which many users appreciate.
If you specialize in driving for dollars, DealMachine can do wonders for your real estate investing business. If you want to get more information about their software, you can visit their website and check out their features.
*Disclosure: Real Estate Skills is not responsible for the information provided by DealMachine or on its respective website. DealMachine is an independent company which provides real estate services to investors. Real Estate Skills trains on using DealMachine and the benefits of using the service but is not responsible for the content it provides.