As a property investor, you must know how difficult and time-consuming it can be to locate property owners’ contact details. You may want to submit a proposal, but you also don’t want to be accused of violating their privacy.
Thankfully, software like DealMachine can help solve this problem. Communication with sellers becomes more effective and simplified when using a platform like DealMachine.
DealMachine is software that promises to make the process of sending deals or proposals to property owners a lot easier, but how effective is this software at doing what it says it does and is it a worthwhile investment for your real estate business?
In this review, we take a closer look at DealMachine, so you can make an informed decision before heading off to purchase a subscription.
What Is DealMachine?
Dealmachine is software that assists commercial property investors in locating deal prospects, conducting direct email advertising campaigns, managing seller leads, and tracking drive routes.
While it is aimed at top real estate experts, this does not rule out the possibility of realtors using it.
The software makes two things easier:
- Sending emails to property owners that you select
- Helping you find the contact information of a property owner
When comparing this application to other email services and websites, the most significant difference is how it is created and meant to be utilized.
If you download DealMachine, you can use it to help you get to a property, take and store photographs, and send customized postcards to the property owner to request that they call you if they are interested in selling their property. It is, therefore, a hands-on application that can be a very helpful tool for those in the real estate business.
The process of traveling to search for potential properties to invest in is referred to as “driving for dollars” in the real estate business. Therefore, DealMachine is a tool that makes driving for dollars a lot easier by putting the correct information at your fingertips.
Who Is DealMachine Best Suited for?
DealMachine is ideal for helping real estate business owners build their real estate agencies. It can also be used by real estate agents who do a lot of groundwork or a contractor who takes care of your driving for dollars.
The software requires you to physically drive for dollars, which entails driving around different roads hunting for bankrupt or potentially abandoned houses. If you enjoy traveling contacting property owners to make proposals, DealMachine is the ideal software for you.
The Pros and Cons of DealMachine
The best way to tell if a product truly is suitable is to look at it realistically. Here is a list of the pros and cons of DealMachine.
Pros
- Includes free CRM software
- It makes driving for dollars much easier
- The software lets you cold call sellers quickly and easily
- It gives you access to property owners’ information instantly, which is excellent if you are on the road
- You can also choose a lead generation tool to provide you with access to thousands of leads
- Allows you to send direct mail with just a click
- Includes monthly and yearly plans with some optional extras
Cons
- The driving for dollars process is not automated – you have to do it or hire someone to do it for you
- It does not generate business or drive revenue. You still have to do much of the work yourself, as DealMachine is simply an add-on tool to help you out along the way
- Several key features are available at an additional monthly fee or as part of the more expensive plans only
- There is no mention of a money-back guarantee
DealMachine’s Features
DealMachine has a host of features. Below, we discuss some of the main features you can expect with the software.
Drive for Dollars
Seeing a property online or in an advertisement is great until you have to actually find it. Locating properties can be difficult, tiresome, and time-consuming. This is where DealMachine shines.
The drive for dollars feature saves you a great deal of time by preventing you from driving the same route repeatedly in the same region. It can also show you real-time driving routes, displaying this information to everyone on the team, so you’re all on the same page. It’s driving for dollars features also have certain reporting capabilities.
You can use it to tell precisely when, where, and how many possible deals every member of your team contributed, which is excellent if you outsource your business’s driving for dollars activities.
This tool also alerts you if you may need to re-drive in a specific region. It color-codes specific locations in red, green, or yellow, so you can quickly and easily identify the areas you need to address. Finally, it allows you to export the information from the driving for dollars software to an excel document, so you can keep track of your expenses for tax purposes.
Automated Owner Location Feature
When you’re out on the road and come across a property that might be a good deal, simply add it to the application, and Dealmachine can locate the owner’s contact details in just seconds.
It uses public records and third-party information to find the possible owner’s details, including their name, mortgage data, and address, amongst other details. The software also has an “Enhanced Search” feature. This feature also allows you to obtain any extra mailing addresses, phone numbers, or email addresses, with an accuracy level of 96%.
Direct Mail Campaigns
After you’ve gathered all the contact details for possible sellers, you then move on to the marketing phase. Dealmachine has a direct mail campaign feature, which enables you to deliver tailored direct mail to reel a seller in.
This comprises customizable postcard templates that are distinctive and proven to be effective. It also lets you add photographs that you have taken of the owner’s property. The truth is that including a photo can boost your client’s engagement. However, if you prefer, you can create your own personalized postcards from scratch.
Having this option is useful if you have already created a design that you think would outperform Dealmachine’s templates. DealMachine also includes an automated system that follows up on potential leads, also keeping track of when an email is sent. It also maintains an updated lead status, so that you can check your campaign’s progress quickly and easily.
Lead Management
When you input a new contact into the software while you are out on the road, it is saved automatically in DealMachine’s customer relationship management, or CRM, software. This software updates automatically.
If you already have another CRM system, you can link it directly to Dealmachine using Zapier. You may also assign tasks to people on your team regarding the new contact using the software.
Plans and Pricing
Driving for Dollars Pricing
Investors can choose from a variety of DealMachine packages. If you are going for the driver for dollars function, the DealMachine’s Starter subscription costs $49 per month, while the Professional package costs $99 on an annual plan. The Elite plan costs $249 per month on a yearly plan and includes a comprehensive list of features.
Add-on products include:
- Multi-step mail sequences – $20 per month
- Street pic – $20 per month
- Mail Tracking – $20 per month
- Comps – $20 per month
List Builder Pricing
If you require the list builder services, plans are a bit more affordable. The Starter plan costs $49, giving you access to 4,000 leads per month, while the Professional plan that costs $74 per month gives you access to 10,000 leads. Lastly, the Elite list-builder costs $166 per month and generates unlimited leads every month.
Add-on products include:
- Multi-step mail sequences – $20 per month
- Street pic – $20 per month
- Mail Tracking – $20 per month
- Comps – $20 per month
Final Thoughts
Driving for dollars is still one of the most effective ways to succeed in the real estate business. Although there is a lot of time and effort involved, having an application like DealMachine can make a world of difference and save you a great deal of time.
We loved the efficiency and accuracy of finding a property owner’s contact details with this software, and its ability to generate and manage leads is commendable. It is a great tool to have if you often find yourself getting lost while on your way to a property, as it can provide real-time information about the location of a property.
Additionally, it provides the same information to people in the team, so if multiple people need to be at a particular property, this process is made a lot easier thanks to DealMachine.
However, we did notice that there was no mention of a demo offer or a free version for users to try out before investing their money in a subscription. Additionally, there is no mention of a money-back guarantee.
Nevertheless, we recommend this product for those who depend on driving for dollars to drive their business’s revenue, as it contains excellent features overall. Be sure to read through the features included when choosing your plan, as some features are only available on the more expensive plans or as optional extras.
