UNLOCK FREE TRAINING
Propwire

Propwire: Real Estate App Review (2023 Edition)

real estate software Aug 31, 2023

Real estate investing was once an expert's trade, but with the advent of modern tools like Propwire, it has become so much easier. Are you learning about Propwire for the first time? You are in good company. We'll deep dive into Propwire, discussing what it is, what it does, and how it works. We'll also compare it to some of its competitors and answer frequently asked questions to help you determine if Propwire is the right choice.

What Is Propwire?

Propwire is a real estate software platform for investors, agents, and real estate brokers. The platform provides users with accurate property data and analytics.

It features a comprehensive set of features that enable REI professionals to make informed decisions about buying, selling, and wholesaling properties.

How Does Propwire Work?

Propwire offers access to real-time MLS and off-market property data that includes valuable information on the property value, ownership history, tax records, and more.

It also offers tools for property research, market analysis, and lead generation, making it easy for real estate investors such as wholesalers to identify properties with the most profit potential for wholesaling. 

Propwire employs algorithms to gather and analyze data from multiple sources, including the MLS. The platform then presents this data in an easy-to-use interface, allowing users to quickly and accurately assess properties and markets.

Read Also: How To Find Off-Market Properties: 10 Best Ways For Investors 

Propwire Features & Benefits

propwire real estate features

There are plenty of video tutorials from users like Flipping Mastery TV that comprehensively break down what it offers, but for now, check out this quick overview of what it offers:

  • Access To MLS Data
  • Access To Off-Market Data
  • Unlimited Market Searches
  • Unlimited Downloads
  • Advanced Filters

Access To MLS Data

Propwire offers access to over 157 million property records from the Multiple Listing Service (MLS), a massive database of property information used by real estate professionals. This includes data on ownership, transaction history, tax records, and other valuable information that can help real estate investors make informed decisions.

Each listing also features comprehensive data you wouldn't find elsewhere. In addition to the regular details, for instance, square footage, and property ownership, Propwire's MLS listings also feature mortgage information, such as when the mortgage was offered and how much has been paid off.

This benefits different REI professionals differently. For instance, for wholesalers and rehabbers, access to unlimited MLS data means they can save time and money that would otherwise be spent gathering this information from various sources.

For instance, a wholesaler looking to purchase properties can use Propwire's MLS data to quickly find relevant wholesale real estate information such as property ownership, transaction history, and current market value. This data can help them decide what properties to pursue and how much to offer.

Similarly, rehabbers can use Propwire to find properties that fit their specific needs and evaluate the potential profitability of a rehab project. By accessing the MLS, they can quickly evaluate the condition and value of a property, as well as any potential liens or issues that could impact their return on investment. MLS data access also eliminates the need for a paid MLS subscription.

Access To Off-Market Data

While having access to the MLS is a huge step in the right direction for any investor, Propwire was also made to include off-market property records. Off-market properties are not listed publicly for sale but are instead marketed through private channels or networks. This can include properties sold directly by owners, properties in foreclosure or pre-foreclosure, or properties that real estate wholesalers or other intermediaries are marketing.

Access to such free data can be helpful for investors in wholesale real estate and house flipping. It allows them to find and evaluate properties unavailable to the general public. Like on-market properties, off-market properties can be found at a discount & sold for a profit.

Propwire offers powerful tools for searching and filtering off-market data, which can help investors find properties that meet their specific needs and criteria. For example, an investor looking for a distressed property in a certain area can use Propwire's search tools to identify relevant properties and evaluate their potential value quickly. 

Propwire is trying to help get users access to information by providing this data for free and helping investors of all sizes find and evaluate properties that meet their unique needs and criteria.

Read Also: How To Wholesale With A Realtor: The (ULTIMATE) Guide

Unlimited Market Searches

Propwire users can conduct as many searches as they want. As if not impressive enough, users can also save their searches to get notified whenever properties that fit their search criteria hit the market. For instance, a wholesaler targeting absentee owner properties with intrafamily transfers can save this search to receive alerts each time a property within this criteria is uploaded into the market, enabling them to capitalize on that sale before any other wholesaler.

Additionally, they can set up Propwire to receive these alerts via email, SMS, or both. This puts users ahead of the market by allowing them to tap into properties with much profitability potential without too much competition.

Unlimited Downloads

Besides saving their searches and getting notified, Propwire users enjoy one significant advantage- unlimited downloads. Once they complete a search, users can download and save property listings. This eases marketing and follow-up since they can upload these lists to real estate marketing software with CRM capabilities such as Flipster, Batch Leads, skip tracing, and lead management.

Advanced Filters

Propwire offers users a variety of filters that can be used to narrow down their search and find properties that meet their specific criteria. Some of the most common filters available on the platform include:

  • Zip Code: Users can search for properties in specific zip codes, which is useful for investors who want to focus on a specific geographic area.
  • Property Type: Propwire allows users to search for properties based on their type, such as single-family homes, multi-family, or commercial properties. This helps investors find properties that match their investment strategy.
  • Ownership Status: Users can filter properties based on their ownership status, including individual-owned, bank-owned, or pre-foreclosure properties. This filter can help investors find distressed properties available at a discount.
  • Property Financial Details: Propwire also allows users to filter properties based on their financial details, such as their asking price, estimated value, or mortgage information, to find properties that fit their budget or investment goals.
  • Property Characteristics: Users can filter properties based on specific characteristics, such as the number of bedrooms or bathrooms, square footage, or year built. This can help investors find properties that match their investment criteria.
  • Draw: In addition to the filters above, Propwire users can draw directly on the map to find properties. This feature lets them concentrate only on areas they want to invest in to find the most profitable properties.

The ability to filter properties based on specific criteria can be incredibly valuable for real estate investors. It lets them quickly identify properties that meet their investment strategy and goals, leading to more successful investments and higher returns.

Additionally, Propwire's filters make it easier for investors to find off-market properties that may not be available through traditional channels, which can provide a competitive advantage in a crowded marketplace.

*Ready to jumpstart your real estate career? Join Alex Martinez at his FREE training to learn how to get started with house flipping and wholesaling! 

wholesaling real estate training

Do You Need To Have Both Propwire And Flipster?

Propwire and Flipster are useful tools for real estate investors but serve different purposes. Propwire is primarily a property data and analytics platform that provides users access to a large database of off-market real estate properties and related information. Flipster, on the other hand, is a project management and analysis tool that helps investors track the progress of their real estate projects and make data-driven decisions.

While it's not strictly necessary to have both Propwire and Flipster, these platforms can complement each other. Using Propwire to identify potential investment opportunities and Flipster to manage, analyze and follow up on those investments, users can streamline their workflows and make more informed decisions.

However, it's worth noting that both Propwire and Flipster require separate subscriptions, so users should carefully consider whether the benefits of using both tools outweigh the additional costs. Some may find that one tool is more useful for their specific needs than the other and may choose to use only one of the two.

Whether you need both Propwire and Flipster depends on your investment goals and needs. While both tools can be valuable for real estate investors, it's important to carefully evaluate their features and costs to determine the best fit for you.

Propwire vs Competitors

propwire vs real estate competitors

Here's how Propwire performs against the competition:

Propwire vs PropStream

Propwire and PropStream are both real estate data, and analytics platforms that provide investors access to a wide range of property data, including ownership information, property characteristics, and financial data. Propwire distinguishes itself by offering access to off-market data unavailable on the MLS and a user-friendly interface with a range of powerful filtering options.

This makes it a valuable tool for investors looking for unique investment opportunities and wanting to narrow their search criteria easily. PropStream, on the other hand, offers a broader range of features and data, including foreclosure data, mortgage information, and a more robust set of analysis and visualization tools. PropStream also offers a direct mail marketing feature, which allows investors to send targeted marketing materials to potential real estate leads. 

While there is some overlap in the features offered by Propwire and PropStream, they each have strengths and weaknesses. In some cases, they may be complementary tools that investors can use in conjunction with each other to get a complete picture of the real estate market and identify the best investment opportunities.

Read Also: PropStream Review (2023): Pricing, Features, & Is It Worth It?

Propwire vs DealMachine

DealMachine is primarily focused on lead generation and property analysis, with a mobile app that helps users find off-market properties and analyze their investment potential. Propwire, on the other hand, offers access to a large database of real estate data, including MLS listings, tax records, and property details. 

Additionally, DealMachine offers a range of marketing tools, such as direct mail and SMS messaging, to help users reach potential leads. Propwire, however, does not offer these marketing features. Overall, both DealMachine and Propwire offer unique benefits for real estate investors, and the choice between the two will depend on the specific needs and priorities of each user. 

DealMachine may be a better choice for investors focused on lead generation and property analysis, while Propwire may be more useful for those seeking access to comprehensive real estate data.

Read Also: DealMachine Review: Is It Worth It?

Propwire vs Batch Leads

Batch Leads is a real estate software that allows users to generate leads by pulling data from multiple sources. The software helps investors and agents locate motivated sellers and provides users with tools to filter the available data to find the most relevant leads. Batch Leads offers various features, including a skip trace function, real estate leads filtering and lead management. The software also integrates with other real estate tools like Zillow and Redfin, benefiting investors looking to expand their reach.

Compared to Propwire, Batch Leads focuses similarly on generating leads for real estate investors. However, Propwire provides users access to a more extensive property records database, including off-market properties and MLS data. Propwire offers a broader range of filtering options, including property type, ownership status, and financial details.

While Batch Leads may be a useful tool for lead generation, Propwire provides users with more comprehensive data, beneficial for real estate investors looking to find the best investment opportunities.

Read Also: Batch Leads Review: Pricing, Features, & Is It Worth It?

Propwire vs Flipster

Propwire and Flipster are both real estate software that provide access to property data, but they have different features and target different markets. Propwire offers access to over 157 million property records on the MLS, while Flipster provides access to off-market properties. Propwire allows users to filter their searches based on various criteria, such as zip code, property type, and ownership status. In contrast, Flipster provides users with a list of off-market properties in their desired area.

While the two platforms differ in their approach, they can complement each other in a real estate investor's toolkit. Propwire can help investors identify potential properties and gather financial data, while Flipster can help them run comps, discover off-market opportunities, and ease lead management.

Read Also: Flipster: Real Estate Software Review (2023)

Propwire vs MLS

Propwire and MLS are both platforms that provide real estate data. However, MLS is primarily a database of properties currently listed on the market, whereas Propwire offers access to off-market data. In our opinion, there is no better data source than your local MLS for finding distressed deals consistently & predictably!

*Join host and Real Estate Skills CEO, Alex Martinez, on how you can get MLS access without a license and start finding the best real estate deals! 

Propwire vs ListSource

Propwire and ListSource are both real estate data providers. However, Propwire offers a broader range of data that includes off-market opportunities, while ListSource primarily focuses on data related to direct mail marketing campaigns.

Propwire offers more advanced search filters and analysis tools, allowing investors to find and evaluate investment opportunities more efficiently. ListSource may be a better choice for investors specifically looking for direct mail marketing data, while Propwire is more suited for those who want a comprehensive view of the real estate market.

Propwire FAQ

  • Is Propwire Free? We couldn't find any pricing data about Propwire on the website at this time. Check back for updated pricing.
  • Where Does Propwire Get Its Data? Propwire gets its data from various public sources, such as county records, tax assessor data, and other real estate databases. They also have partnerships with other companies to acquire additional data.
  • Is their Data Up To Date? It seems that Propwire.com updates its data regularly to ensure accuracy, and its data team performs quality control checks to ensure data completeness and reliability. At this time, we do not know how often their data updates take place.
  • Is There A Propwire App? Propwire does not have a mobile app for iOS or Android devices. However, the platform can be accessed on any device with an internet connection through a web browser on propwire.com. The website is optimized for mobile devices, making it easy to use on a smartphone or tablet. Propwire offers a bookmark feature that allows users to save properties and leads for later viewing, making tracking potential deals easier. Despite not having a dedicated app, Propwire's mobile-friendly website provides all the necessary features for users to conduct real estate research and analysis on the go.
  • Do You Need To Sign Up To Use Propwire? Yes, you need to sign up for a Propwire account to use the platform. You can sign up for a free account on Propwire.com by providing your name and email address and creating a password.
  • Who Can Use Propwire? Propwire is designed for real estate investors such as wholesalers, rehabbers, and realtors. The platform provides access to off-market real estate data and various tools to help investors find, analyze, and manage properties.

Is Propwire Worth It?

Propwire is a valuable tool for real estate investors, wholesalers, rehabbers, and realtors. It provides users access to a vast database of on- and off-market properties, property details, and financial data. Propwire is affordable compared to similar real estate platforms, making it a suitable choice for professionals on a tight budget.

Additionally, Propwire's ability to provide its users with essential filters for narrowing down their search, such as by zip code, property type, ownership status, and financial details, helps them save time in identifying potential investment opportunities. However, Propwire has limitations, such as the lack of lead management features on more expensive platforms.

Nonetheless, its benefits and ease of use make it solid tool for investors looking to expand their real estate portfolio.

You can also check out our brand-new free training and learn how to gain leads on investment properties without spending a dollar on marketing while fine-tuning your process and building a successful business!


 

*Disclosure: Real Estate Skills is not responsible for the information provided by Propwire or on its respective website. Propwire is an independent company which provides real estate services to investors. Real Estate Skills trains on using Propwire and the benefits of using the service but is not responsible for the content it provides.


free real estate investment training

Unlock Our FREE Webinar Training

Founder & CEO of Real Estate Skills, Alex Martinez, reveals the systems and processes used to wholesale and flip houses without doing any marketing!

  • Completely FREE training video.
  • No prior experience is required to start.
  • Begin investing with no cost for marketing.
  • Learn to invest in any real estate market.
  • Discover how you can close deals consistently

Enter your information below to unlock the FREE webinar!

By providing my contact info, I give express written consent to Real Estate Skills to email, call, & send text messages for upcoming events & reminders. By opting in you agree to RealEstateSkills.com's Terms of Use and Privacy Policy.


8 Best Lease Guarantor Companies In 2024

Mar 28, 2024

How To Wholesale Real Estate In Arizona: Step-By-Step (2024)

Mar 27, 2024

How To Wholesale Real Estate In Maryland: Step-By-Step (2024)

Mar 27, 2024