I wrote this Flipster review because finding distressed properties before other investors is key to the success of any real estate investor or wholesaler. With so much competition in the market, you must have an advantage over other sellers who are targeting the same properties as you are.
That’s where Flipster comes in. It’s a paid platform ideal for real estate investors and wholesalers who want to buy homes for cheap and then flip them after remodeling. The software can help house flippers locate the best properties before they hit the market.
Flipster has some major benefits for house flippers and wholesalers, but does the price justify its value? This Flipster review covers the main features of Flipster, its pricing model, and whether or not you should use this innovative platform for real estate investors.
What is Flipster?
Flipster was started by renowned real estate investor and coach Jerry Norton. The problem Norton faced was that he couldn’t find a way to put an offer in before other investors looking to fix and flip the same properties in his town. His solution is a comprehensive database that gives real estate investors and wholesalers access to a steady supply of high-quality leads that most investors don’t have.
Flipster aims to help real estate investors find deals with less legwork than what was needed in the past. The database provides investors with a host of different property types, including multi-family homes, condos, and townhouses. Additional information provided by Flipster consists of:
- Database of Multiple Listing Service (MLS) leads
- Properties with absentee owners
- High-equity home leads
- Access to pre-foreclosure properties
- Communication between potential sellers
- Properties with out-of-state owners
How does Flipster work?
Flipster is very intuitive and easy to use for most real estate investors. Investors who aren’t technologically savvy may need to utilize Flipster’s free resources on how to use the platform most effectively.
All you need to do is input your zip code and you’ll find a variety of potential leads that you can reach out to or see in person. Flipster says that they update their leads every day so you know you’re getting the most accurate information about all the properties in their database. The platform also provides information on prospective sellers for those that want to buy a property, including their phone number and email address.
Flipster is perfect for real estate investors who don’t want to continue to pay for costly online leads and direct mail campaigns. While some Flipster alternatives claim they have better marketing features, we found that Flipster’s marketing tools are right on par with its competitors.
Who is Flipster meant for?
Flipster is meant for anyone in real estate who wants to find deals before other potential buyers. This means investors, developers, flippers, and wholesalers will find that Flipster is extremely helpful in finding potential deals. Flipster can also be used as a lead generation tool where you can provide high-quality leads for other investors in the market who will pay you for the leads you find with Flipster.
Flipster has plenty of features that provide a lot of value to those that use the platform, including:
- Identifying cash buyers. Flipster can help you filter search results to those that have paid cash in the past and may be more likely to pay cash again for subsequent deals.
- Email marketing. Building and engaging with an email list is one of the best ways to maintain your client base and stay on top of the market. When people see your emails in their inbox, you stay at the top of their minds so that, in the future, they’ll contact you before anyone else when they’re ready to buy or sell.
- Skip tracing. Skip tracing technology filters through millions of web pages to find accurate phone numbers, email addresses, and other helpful information for real estate investors. You’ll be able to find motivated sellers, lenders, and cash buyers with skip tracing.
- Motivated seller leads. Flipster differentiates itself by providing its users with motivated seller leads as opposed to standard leads. This means that these sellers are looking to sell their homes fast and have a good reason to do so.
- SMS marketing. While email marketing is meant to engage regularly with your client base, SMS marketing is ideal for reminders and brief touchpoints. No one wants to be inundated with text messages, so sending a few SMS reminders every so often is a good idea to stay current with your customer base.
- Templates. Do you know what to say when reaching out to potential sellers? Those who are struggling with the first communication will find plenty of helpful templates Flipster created that are ideal for beginners. You can test out different templates with sellers to see which ones work the best.
- Comparable properties. Looking at comparable properties is the best way to understand home values in the area. Flipster provides you with photos, sale history, and other essential property information you can use before you decide to reach out to potential sellers.
Cons of Flipster
While Flipster provides many useful features to its users, the main downside of the platform is its cost. At $97 per month for the basic package, It’s certainly one of the higher-priced options on the market. If you want additional features or run a small team, you should expect to pay even more for Flipster each month.
What are the main features of Flipster?
Flipster helps real estate investors and flippers identify new opportunities before other investors. It gives you access to a database of potential deals and properties on the market. Its ability to connect investors with potential sellers is the main selling point of the platform as well as email and SMS marketing.
How much does Flipster cost?
Flipster starts at $97 per month. Those in competitive markets may find that they need additional features–driving up the monthly cost even higher.
How do you cancel your Flipster account?
If you don’t find you’re getting much value out of Flipster, you may want to cancel your account. However, Flipster doesn’t make it so easy. You’ll have to contact the Flipster help desk or send an email to their support inbox if you want to cancel.
Ready to get started with Flipster?
Related: How to Start Wholesaling Houses