How To Find Property Data For Your Next Real Estate Investment

How To Find Property Data For Your Next Real Estate Investment

Property data is vital when securing your next real estate investment, but it’s sometimes hard to find. Here’s how to get it.

If you’re looking at real estate properties for investment, you’ll need data and a lot of it. There’s no way around this, whether you want to invest in residential or commercial property. You’ll need to find the proper owners to contact, you’ll need purchase or rent data for valuation, and you’ll need information about the surrounding area. But this data isn’t always simple to come by. There are a number of ways to start your search but just as many ways that your search can be complicated. 

ProspectNow offers a comprehensive solution to gather and work with property data. This includes properties that may not be on your radar yet. But first, read on about the other ways that investors use to find data on potential investment properties.

The Trouble With Property Data

Contact information isn’t always easy to find. Sellers may neglect to update phone numbers or emails, or in some cases may not have them at all. Sometimes they may fail to provide a change of address form. And sometimes, the owner information is hidden in an LLC or trust for various legal reasons. In these cases reaching the owner of a potential investment can be difficult. Mailing a postcard to the LLC may get your message lost in a mailroom. But a phone call to the key decision maker behind the LLC will carry much more weight.

There are ways to find the owner of an LLC and make that positive impression. You can sift through public records and court filings, or you can run a search on ProspectNow.

Apart from owner contact information, there are multiple ways that property data collection can get complicated. You may not be able to find enough data on investment properties, especially if looking for purchase transactions.

Finally, one more problem with publicly accessible information is that your competition also has access to it. They could be reaching out to the same leads that you are, which cuts into your chances of closing those deals. Most sellers will work with the first agent who contacts them, so your best shot at landing a promising investment property is to find it before other investors.

How To Find It

There are many different places to find property data if you know where to look. Here are just a few.

Multiple Listing Service (MLS)

Among the most common sources of property data is the Multiple Listing Service. Called the MLS for short, It is a third party database that combines the listings of real estate agents across the country. You can search for homes in every county and metropolitan area. But instead of hosting the property data on the MLS website, you’ll be directed to individual agents and agencies depending on your chosen location. Websites may require you to create an account in order to view their listings.

With these combined listings, the MLS can be a vital source of information when looking for your next investment property. But the disjointed nature of the listings can complicate your search.

Property Appraisers or Assessors

The local property appraiser will keep public records of every property. This includes owner name and contact information, transaction history, foreclosures, square footage, and more. You can also find permits and other documentation for major renovations and additions. Each county will have its own property appraiser. In some states these are known as assessors.

You may opt to find this information in person, and can do so by visiting the appraiser’s or assessor’s physical office in the county where the property is. This may not always be an option, especially in recent times with pandemic concerns. But if for any reason you need to look at older records, this may be your only option for a small fee. Online searches are more convenient and available at all hours, but in many cases only the most recent court records will be available to you.

Secretaries of State or Corporation Commissions

Depending on your state, corporate filings and LLCs will be handled either by the state’s Secretary of State or a separate Corporation Commission. This is where you’ll want to get information about the owner of an LLC.

Subscription Databases

There are several third party databases that host property data as a subscription service. This adds a level of convenience for the prospective real estate investor, as most of the data they’ll need is (in theory, at least) available in one place. The downside is that these subscription services can come with hefty price tags. And they often don’t have the added features that ProspectNow offers such as one-click contact options, email and postcard templates, and data analytics.

What’s more, there’s little to no guarantee that these subscription services will give you accurate data. This is a chief concern that clients have with prominent services such as PolicyShark, with the Better Business Bureau showing complaints of incomplete data and high prices for the value provided.

ProspectNow

ProspectNow has the most complete database of residential and commercial properties in every county across the country, all in one place. This property data includes easy access to a name behind LLCs and trusts that may own properties or the tenants in commercial properties. With names in hand, ProspectNow also gives you a direct way to contact these key decision makers.

On top of the listed properties you’d find elsewhere, ProspectNow also includes “likely sellers.” These are properties our algorithm detects as being likely to sell soon but aren’t yet on the market. These will give you an advantage over other prospectors by providing the opportunity to reach potential sellers first. And because the algorithm makes use of unique analytics and machine learning, the algorithm gets smarter with every week.

But ProspectNow’s platform is more than a comprehensive real estate database. You also have a full featured customer relationship management (CRM) program with lead generation and multiple direct contact options. Find promising leads for investment properties and send them a call, email, or postcard in minutes.

Are you ready to close more deals and make more money? ProspectNow has been in the business since 2008 with proven features to help prospectors and agents find and sell more properties.