Properties FAQ's

Q:  How to use the Global Search Bar:

A:  The Global Search Bar works by searching for anything saved in your account, as well as searching over 155 million tax assessor records across the US. You can search for new addresses by simply starting to type the address in.  As you type, any matches will appear in the drop down menu.  When you see the match, click on it to open the Details window for that property.

If you'd like to search for an address by using the owners name or the APN, simply click where it says "Address" and then click "APN Search" or "Owner Search."  Then begin typing in the owners name or the APN.  Additionally, you can search for things already saved in your account, such as searching within your Marketing Campaigns, saved Properties, Buyers or Contacts.

Q:  How do I search for a specific address?

A:  You are able to search for a specific address by using the Search bar at the top of the screen.  As you start typing the address, REIPro will begin to search for that property out of the 155,000,000 properties across the US.  Make sure that you click on the address that populates in the drop down menu, as this will show you the information associated with it from the tax assessors office.  

Q: How do I run a skip trace (premium phone search) report on a property?

A:  There are 2 ways to Skip Trace in REIPro.

-You can bulk skip trace a Marketing Campaign. This uses 1 credit per lead and returns the most recent 3 cell phones, most recent 3 landlines, and all email addresses found for each owner.

-You can also skip trace an individual property saved in your Properties tab in Step 2. You can run a Basic Search or a Premium Search. The Basic Search uses 1 credit per lead and returns the most recent 3 cell phones, most recent 3 landlines, and all email addresses found for each owner. The Premium Search uses 2 credits and will return all cell phones and landlines associated with the owner, all email addresses, approximate age and whether they are deceased, full address history, and nearest relatives and their contact information as well.

All Standard Plans get 50 free skip trace credits every month, and all Team Plans receive 200 free skip trace credits every month. These will refresh on the first of every month. Additionally, skip trace credits can be purchased and we offer several bundle packages depending on your needs.

Q:  Can I run a skip trace/premium phone search for an LLC?

A:  Unfortunately, you are not able to skip trace an LLC or Company.  We recommend that you find out who owns the LLC by searching the state corporate records.  Then, in Step 2 when you run the skip trace, you can Edit the name fields and enter their first and last name.  

Q: Where can I find the 10 Executable Steps?

A:  The 10 Step Workflow System is located in each of your Saved properties.  To find it, you would click on the address of a property that you have saved, and scroll down to underneath the property address information.

Q: How do I run comps on a property?

A:  To run comps on a property, you would first have to add the property to your Properties tab. Once in there, you would click on the address to go into that specific property screen.  Then, you can click on Shortcuts and you'll see Run Comps here.  Or, scroll down to Step 4 and you'll see Comps there as well.

Q:  How often are Comps data updated?

A:  MLS Comps are generally updated within 24 hours of the sale.  Comps from the county recorder office, such as FSBO and non-MLS transactions, are updated when that specific county updates their data, and we receive updates daily.

Q:  How does REIPro Calculate ARV?

A:  The ARV, or After Repaired Value, is calculated by averaging the Price/Sq Ft of the properties selected as comps.  This average Price/Sq Ft is then multiplied by the subject property’s square footage, giving you the ARV.  For example: comp Property 1 sold for $200k, has 1500 sq ft, it’s cost per sq ft is $133.33; comp property 2 sold for $210k, has 1600 sq ft, it’s cost per sq ft is $131.25; and comp property 3 sold for $196k, has 1300 sq ft and its cost per sq ft is $150.77.  The average of these three properties’ cost per sq ft is $138.45. Now you would take your subject property’s sq ft and multiply that by the average cost per sq ft, giving you the ARV.

Q:  What is the difference between REIPro Estimated Value and ARV?

A:  The average sale price is taken from sales of all properties in the area from the last 30 days, and does not take into account square footage.  We always recommend that you run comps to get a more accurate estimate of what the subject property is worth.  When you run comps, the ARV is calculated by finding the average price per square foot sold of the properties you choose to be comparable, and then taking that number and multiplying it by the square footage of your subject property.  This is the most accurate way to get an estimate for what your subject property's value is because it is based on the price per square foot.

Q: How do I email a property to my buyers?

A:  To email a property to your buyers, you would click on Properties in the left Menu. Then you would click on the address of the property, and scroll down until you see the 10 Step Workflow System. Here you would click on Step 7, and scroll down and click on Potential Buyers.  Click on Email Buyers to choose buyers, add attachments, and send the email.

Q:  What is the REIPro Estimated Value?

A:  The REIPro Estimated Value is an automated value that is computer generated every 30 days based on property sales around the subject property.  To get a more accurate estimate of the property value, you would need to run comps, which you are able to do in Step 4 of any saved Property. 

Q:  No Bedroom/Bathroom Info:

A:  We get all of our data from county tax assessor's offices, and some counties do not require beds or baths to be reported.  Because of this reason, REIPro allows you to easily edit the property if you know the correct property characteristics, by clicking the edit icon under the address.  

Q:  Comparable Sales not showing beds or baths

A:  We get our data from county tax offices nationwide, and some counties don't require beds or baths to be reported.  Because of this reason, REIPro allows you to easily edit the Comp properties if you know the correct property characteristics.

Q:  Can I assign properties to a user on my account?

A:   Yes, there are several ways to do this!  You can assign a property to a user by creating an Event/Reminder for that property and adding it to a specific user's Calendar.  You can do this from within the saved property by clicking Notes inside of the saved property, or from the Dashboard by clicking on a date on the Calendar.  A pop up window will appear where you can choose which user's Calendar to assign it to, and include the date for the reminder, in addition to details, notes, and several reminder options. 

You can also Share a property with a team member if you are on the Team plan.  To do this, click on the Share icon at the top of any saved Property, and choose the user who would like to share it with.

Alternatively, while you cannot change who the property was "Created By" you can also add a customized Tag to tell you who the property was assigned to, such as "John Vacants."  To easily filter the properties by Tags, on the Properties tab click on Filter, and select the lead type to view only the properties marked as "John Vacants."

Q:  Can REIPro email property owners instead of sending mail?

A:  Yes!  If you have the property owners' email addresses, you are able to send them emails in a couple of ways.  To send emails to more than one property: from your Properties tab, select the properties you want to email by clicking the check box of the properties you wish, and then click Actions back at the top, and choose "Email Sellers" from the drop-down menu.  To send an email to one property at a time, you can go into that property screen, and click the email envelope icon next to their email address.  

 REIPro is designed to utilize direct mail primarily because the property owner's mailing address is always on file with county records, eliminating the need to have to spend time searching for their contact information.

Q:  How does REIPro calculate Potential Equity?   *See below for Pre-foreclosure potential equity

A:  Our system takes the original loan amount and subtracts that from the current REIPro Estimated Value, and this equals the Potential Equity. The REIPro Estimated Value is computer generated and based on comparable sales over the last 30 days.

                                                              ** OR for Pre-foreclosures: **

Potential Equity for pre-foreclosures is calculated by either: Estimated Value minus Judgement Amount; (OR, if there is no judgement amount provided) Estimated Value minus Loan Balance; (OR, if there is no judgement amount and there is no loan balance reported on the foreclosure record); Estimated Value minus Open Loan Positions we have for that property from other sources.

Q:  Why are REIPro Estimated Value and Equity Amount showing the same

A:  If the Estimated Value and the Equity amounts show the same amount in LEADPro, this is because we don’t have the mortgage amount in our system.  Normally, our system takes the original mortgage minus the current estimated value and this equals the Potential Equity. You will have to contact each owner to get their Payoff Statement. Once you have this, you’ll be able to determine if you can move forward with the deal and if there’s enough equity to profit. 

Q:  Why is Potential Equity unknown?

A:  The potential equity would show as unknown if we have no active loan info about that property. 

Q:  How do I add an incoming lead to my Properties tab?

A:  To add your incoming leads into REIPro as a property, you would have to use the Universal Search feature to find the property, and then click Add to Properties.  The reason for this is to make sure that you pull the correct data associated with that property from the county tax assessor office.  Otherwise, if an incoming lead comes in and the address was entered in as "123 W Main St," but the county has it on file as "123 West Main St," REIPro wouldn't be able to associate the correct county data.  

Q:  I have a new incoming lead but it wasn't automatically added into my properties, why not?

A:   The incoming leads populate on your main dashboard, and then you have to opportunity to decide to add them into your properties tab, or as buyers, or contacts, and what information you wish to keep and utilize.   

Q:  What file types are supported when uploading docs to a property?

A:   “.docx”, “.doc”, “.xlsx”, “.xls”, “.pdf”, “.jpg”, “.gif”, “.rtf”, “.png”  - (Word Docs, Excel Docs, PDF Docs and images)

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