The wonderful world of modern real estate investing would not be the same without access to online real estate investing tools like PropertyRadar. Whether you’re a new or an experienced investor, chances are you would want to find out as much information as you can on different tools to help you with real estate investing. Let’s take a closer look at Property Radar and how useful it is to investors across the US.
PropertyRadar: Is It Truly Helpful for Real Estate Investing?
People who are wondering about how to invest in real estate should consider technology as one of the main tools that can help them land the most favorable deals. Serious real estate investors are always on the lookout for different types of real estate software to make the entire investment process faster and more efficient, not to mention a lot more convenient. Gone are the days when folks need to physically go to a specific location to check out the market conditions. Not only is the old way a huge waste of time, but it’s also a huge waste of money.
Investors nowadays can easily work with technology to do their due diligence without even needing to travel to a prospective location. Several real estate websites offer data-driven solutions to investors and professionals in the industry, which allow them to make big investment decisions confidently. PropertyRadar is one such company.
What Is PropertyRadar?
PropertyRadar is a real estate software solution that targets real estate professionals, wholesalers, brokers, and investors. Many of its users see it as some sort of one-stop-shop to locate real estate properties and property owners, which makes their jobs a lot easier to accomplish.
The company was founded in 2007 by Sean O’Toole with the intention of creating a data-based solution for real estate professionals to research both residential and commercial properties easily. Users can now work smarter and get their research done faster with the site’s enhanced public records data, heping them find and look into both residential and commercial properties.
What Does PropertyRadar Offer Its Users?
Data is essential in the modern real estate industry, and PropertyRadar is one of the go-to software solutions for real estate prospecting. The app is supposedly tailor-fit for professionals involved with both residential and commercial real estate.
As a real estate software and property owner app, what makes PropertyRadar valuable?
Detailed and Accurate Data
One of the things PropertyRadar is known for is its data quality; many its users attest to its accuracy. The app gives users access to updated insights about real estate opportunities, which helps them better analyze properties. The platform provides users with access to information such as:
- Property location
- Ownership and owner information
- Legal description
- Value and equity
- Community data
- Property taxes and delinquencies
- Mortgage and loan
Comparables are also easily accessible to users, including property price and listing history. It also provides users with a table containing investment information for real estate investors.
Besides its property detail report, one of the platform’s advantages is that it gives detailed information about property owners that allow real estate professionals to reach out to them to strike a deal. Some of the information found on the platform are:
- Mailing address
- Primary address
- Phone numbers
- Email address
- Social media links
- List of other properties owned
PropertyRadar offers its own heat map to allow users to identify opportunities in a specific area. The heat map feature lets subscribers filter their choices and find the right properties for their needs. With over 200 filters, users are able to pinpoint the best possible real estate opportunities for them.
After finding the right properties that line up with their goals, users can create lists of all the potential properties they’ve selected. The list provides users better insight into each property and allows them to segment it for niche targeting. It also allows them to better understand the market conditions and create the right messages for advertising and marketing.
One feature that its users find truly helpful is how the app allows them to send direct mails to their lists. They can export their list to up to 123 fields and include email, direct mail, voice, and online ads, among others. Campaign management is also easy to accomplish as the app is integrated with other email marketing apps such as Hubspot and MailChimp. It also allows users to automate their hyper-local marketing campaigns.
The Downsides of PropertyRadar
While PropertyRadar does come with some excellent features, like any other real estate software, there are downsides to using the app. According to some PropertyRadar reviews, here are some of the things most people complain about when it comes to using the app:
App Limitations Based on Plan
With the list of features we lined up for you, one might be inclined to think that all of them are available to PropertyRadar subscribers. Yes, it is true that users can gain access to the said features; however, it will depend on the type of your subscription plan. Not all features are available for all plan types. Certain features are locked out, and you cannot use the platform to its fullest extent unless you’re subscribed to the most expensive plan.
Not Easy to Use
One of the most common complaints about PropertyRadar is how it is not user-friendly. While it is a comprehensive app, most users find the interface hard to navigate. It takes some time to get used to the user interface, which can be pretty challenging, not to mention frustrating, to users who are not as tech-savvy. The sharp learning curve can be quite a turn-off for many users as most individuals prefer platforms with intuitive UI that’s easy to work with. It does, however, include explainer videos to help make the process easier, but we found that the best real estate sites are ones that are easy to use.
Pricey Compared to Other Similar Software and Platforms
Lastly, PropertyRadar does not offer any free version. For real estate investors and professionals to gain access to its features, they will need to sign up for their services. As we’ve already mentioned, the app limits the features that lower-tier users are able to access. If one needs to unlock certain features, they first need to upgrade their subscription.
A lot of its users, however, feel that Property Radar pricing is affordable, but it is pretty subjective. For reference, here are the three subscription tiers according to their website:
- Essential. The lowest tier of the three, the Essential package, allows users to look up property or owner data in different markets, search for properties and build lists, and analyze market data, just like the other two higher-priced packages. The only difference is that the tier offers fewer data compared to the other two, plus users cannot add people to their team or integrate the software with other apps.
Price: $49 monthly, save $120 with an annual payment
- Complete. The Complete package includes everything found in the Essential package only at a premium level. It means that the data that users can access with the Complete plan is far more detailed than the Standard package.
Price: $79 monthly, save $240 with an annual payment
- Custom. Lastly, the Custom tier allows subscribers to customize their subscriptions according to their needs.
Price: Varies depending on the plan structure and inclusions
The platform offers a three-day trial and the option to change their subscription at any time. Users can also cancel their subscription at any point and continue using the account until the remainder of the paid period is over.
What Are the Alternatives to PropertyRadar?
Now, when you check out real estate investing tools, like PropertyRadar, one can’t help but make certain comparisons to its competitors. One of the company’s direct competitors is PropStream. Among all the other real estate software apps, PropStream seems to be the app that is often compared to PropertyRadar.
PropertyRadar vs PropStream
Both apps allow users to generate targeted leads and use quick lists to personalize their property search to fit their needs. And just like PropertyRadar, PropStream gives its users access to homeowner data for them to connect with owners directly.
One of the main differences between the two platforms is that PropStream is mostly designed for real estate brokers and agents while the PropertyRadar is targeted towars a broader audience, including commercial real estate professionals, residential realtors, mortgage professionals, real estate investors, and other similar home and property services.
PropStream also offers a longer trial period as it gives potential subscribers seven days to test the platform and its standard features for free. However, it is more expensive as it comes with a price tag of $99 for its Starter plan with extra charges for its list generator and marketing tools.
PropertyRadar vs RealtyTrac
The two apps provide almost the same functionality and features. RealtyTrac, however, edges the competition with its foreclosure listings. However, users who previously tried both apps find PropertyRadar more cost-efficient for their needs, mainly because of its highly interactive and personalized dashboard. Subscription to RealtyTrac starts at $49.95.
PropertyRadar vs DealMachine
While both platforms allow real estate professionals to locate prospective properties and get in touch with owners, the two work differently.
One of the major differences between them is DealMachine’s key feature, Driving for Dollars. Here, the buyers physically go out and about town to look for viable properties. Once they find properties that they think could work for them, they take pictures of them and send automated postcards to the property owners to indicate interest in them.
While DealMachine’s Standard package also costs $49 per month, its Professional plan is a bit more expensive at $99 per month. In addition, the platform charges extra fees for every postcard that’s generated and skip trace performed.
PropertyRadar vs Mashvisor
When it comes to real estate investing tools, Mashvisor is one of the top tools investors prefer to use. While PropertyRadar offers the capability to locate properties, Mashvisor takes it a bit further. Mashvisor allows its subscribers to get into the nitty-gritty of things and analyze a property’s profitability using highly accurate and relevant data.
Real Estate Heat Map
Like PropertyRadar, Mashvisor also comes with a real estate heat map that lets viewers locate hot markets and perform searches in multiple neighborhoods simultaneously. The platform gives viewers a better idea of what the conditions are like for specific neighborhoods, whether they’re profitable for certain investment strategies or not.
Investment Property Calculator
Real estate investors use Mashvisor to locate the best properties in the best neighborhoods that align with their investment goals and criteria. One of the ways the real estate investment app’s most beneficial features is its rental property calculator. Mashvisor’s rental property calculator allows users to check how profitable a particular property is by computing for potential return on investment using up-to-date data from over six million investment properties listed on ListHub, over two million traditional rental comps, and over two million Airbnb rental comps.
Its investment property calculator lets users project their earnings by computing for both the cap rate and cash on cash return, two essential metrics used to determine ROI. Users just need to search for a good neighborhood to invest in, locate a specific property, and perform an investment property analysis to see whether the said property is worth investing in or not.
On top of its data methodology, heat map, and investment property calculator, Mashvisor is also very easy to use, according to its subscribers.
Let’s say you’re looking for a duplex for sale, the platform’s search engine allows you to filter your search results to all the listed duplexes in the area you’re looking at. You can even further streamline the process by indicating the number of bedrooms and bathrooms you prefer, price range, characteristics, property status, among others.
Unlike PropertyRadar, Mashvisor subscribers also find the platform very easy to navigate with with its user-friendly interface and dashboard.
Mashvisor offers subscribers three tiers to choose from. The Standard and Professional plans go toe-to-toe with PropertyRadar’s monthly plans at $49.99 and $79.99, respectively. However, it also offers a Lite Plan that starts at $17.99 per month, which allows plan subscribers to search for properties nationwide, perform ROI analysis, and get traditional and Airbnb rental rates. Searching for a profitable investment property is now made possible even at the Lite level.
The website also offers a 7-day free trial period and discounts on subscriptions. Sign up for Mashvisor now and get 15% off.
Final Thoughts on PropertyRadar
Real estate software such as PropertyRadar gives professionals and investors an edge and elevates their real estate experience to a whole new level. It is an effective tool for finding viable properties and connecting with property owners. However, it also comes with certain limitations that can detract from a full investing experience.
Users can turn to alternatives like Mashvisor, which can be a better option since they are able to get more done for the price they’re paying. To learn more about our real estate investment tools, schedule a demo soon.