What is REIsift?
The first rule of marketing in real estate (or any business) is that your list is the key to your success. Imagine spending thousands of dollars on marketing, only to realize that you had accidentally targeted people who bought their home in the last month. The odds are that most of these recent buyers would have zero interest in even hearing your offer!
Or what if—another common mistake—you sent a property owner 11 letters because they own 11 homes…rather than a single letter letting them know you would like to buy their real estate?
As a real estate investor, you can absolutely find deals by mass marketing to entire areas. That being said, you will spend a lot less money marketing if you only target people who are able to sell to you, and have a reason to be motivated.
This is part of the reason I’ve been able to turn $13,210 in letters into more than $60k in wholesale profits…not to mention the 79 doors we purchased!
Want to Lower Your Marketing Costs?
There are many ways to pull your lists, but I pull most of my lists from Propstream. Propstream is very similar to having access directly to the multiple listing service (MLS) that real estate agents use for all of their information.
This platform is great for pulling lists of all sizes and types, but there is one vital flaw. Organizing these lists is a headache. Let’s say you pull 10,000 addresses from Propstream to mail. You send out these letters, and 500 come back as return to sender (RTS). If you want to ensure you don’t waste money sending letters to these bad addresses again, you will need to physically move that address to an RTS list, and then manually delete it from any other list.
Granted, Propstream has made this process fairly easy to remove from other lists, but it still means that you need to remember to go BACK into the RTS list every time you pull a new list, and remove those duplicates, to ensure you aren’t mailing to faulty addresses again.
I love Propstream and will continue using it forever to find homes, comp property values, and lookup data about the owners…but, thank goodness I found a better system for managing my data!
Enter REIsift, the list stacking, and data management tool that turns normal real estate investors, into ninjas (their words, not mine)!
What is REIsift
REIsift has this to say about their mission: “REISift creates Sales and Marketing NINJAS. We are a Prospect Management System designed for the real estate investor or agent to close more deals and cut marketing costs.”
Basically, REIsift allows you to upload all of your lists into their system, where it automatically filters incomplete records, and runs records through the USPS database to normalize, and remove duplicates.
All you do is upload your list with the tags you want to be associated with all of those properties—i.e. RTS, Probate, Absentee, Tax Liens, etc.—and then any property associated to those addresses is updated.
If that wasn’t handy enough, wait until you see their list stacking in action!
List Stacking with REIsift
This is the bread and butter of REIsift, and this alone will save you more money than REIsift costs!
You can sort your records by the number of overlapping tags they have so that you are targeting only the most motivated of properties.
For example, I just ordered 500 mailers this morning. I normally order 2,000-3,000 at a time but ordered an additional 500 today simply because of how targeted they were! You see, I was able to locate data from my county pertaining to code violations, tax liens, death certificates, etc.
Then, I went into the REIsift records portal and told it to sort everything that had two or more tags, but to remove the properties I had just ordered mailers for, were tagged as not interested, or had been returned to sender. The result, a list of close to 500 addresses that have multiple issues. They might have a code violation and tax lien. Maybe they are a vacant property that has a current code violation, and the owner just passed away last month.
Do you see why stacking these metrics together can be so powerful?
Not only are you able to target the most motivated owners, but you are also able to save a ton of money by not sending letters to people you’ve already mailed, or have told you they’re not interested.
REIsift Vacancy Checks
Another awesome, and time-saving feature of REIsift is that it automatically cross-references your property records against the USPS database (as mentioned previously).
This helps complete and validate your records…but even more awesome, is the fact that anytime somebody puts in a request to forward their mail, or notifies that a property is vacant, REIsift will pull that information from the USPS and mark your property as vacant. Also, it will remove the vacancy tag, when the USPS identifies that the property is no longer vacant.
Vacant properties are usually a thorn in the owner’s side, and I love that this tag is automatically updated against everything else in your system!
REIsift Direct Mail
By now I’m sure you’ve seen me talk about Ballpoint Marketing at some point. Ballpoint is my go-to source for any direct mail marketing I decide to conduct. I have landed a ton of deals with them and won’t send letters from anyone else!
Well, you’re in luck, because Ballpoint Marketing is now integrated with REIsift! You can highlight specific records and with a few clicks of your mouse, order direct mail for them! REIsift will even tag these records with the date you mail them so that you can see how many times you’ve mailed your records!
I love this feature, and it is a great way to keep tabs on how many times you’re reaching out to a seller before they finally decide to sell you their home!
How Much Does REIsift Cost
Alright, alright, I know…you’re thinking this all sounds great, but what’s the catch!
Well, it isn’t free…
It is pretty affordable though, especially once you realize how much money you’ll save marketing to people you shouldn’t be!
REIsift has three different tiers for pricing:
REIsift Monthly Plan Pricing
Essential Plan: $49/month
Professional Plan: $99/month
Business Plan: $299/month
REIsift Annual Plan Pricing
Essential Plan: $470/year
Professional Plan: $950/year
Business Plan: $2,870/year
If you do the math, the annual plan is equivalent to paying a little less than 10 months of the monthly plan!
They say the professional plan is their most popular, and I believe it. This plan allows you to upload 10,000 records, and only pay an additional $5 for the next 10,000. There is no limit to how many records you can have in their system with this plan, which is good because I have more than 90,000 records uploaded at this time, haha.
I paid for the professional plan on an annual basis, and it has absolutely changed the way I manage data and market properties!
“Do I Need REIsift?”
The real question is whether or not you’re serious about finding your own deals, and slashing your expenses while doing it.
If you’re not going to be doing a lot of marketing, this platform probably isn’t necessary. However, if you plan to scale your marketing, and want to avoid wasting money on people who already told you to pound sand, or aren’t very motivated to sell their property…I can’t recommend REIsift enough!
Oh, and REIsift offers a free trial, so what do you have to lose?