Prycd Reviews: A Better Acquisition Tool for Real Estate?
In the constantly evolving realm of real estate investing, tools that streamline the process are invaluable. Among them, Prycd has been creating waves, particularly for those dealing with vacant land. But what makes this tool stand out, and is it the right fit for every land investor? This comprehensive Prycd review aims to shed light on all its facets.
What Is Prycd?
Prycd is an advanced research tool specifically tailored for house and land investors. It's not just any regular tool to use for valuation; it's specialized in pricing vacant land. Driven by technology and comprehensive data, Prycd aids in accurate valuation and offers a streamlined approach to land flipping. For those familiar with land and the nuances of land investing business, understanding the significance of having a reliable tool for valuing land is crucial. That's where Prycd comes into play.
How Much Does Prycd Cost?
Though prices can vary based on features and the depth of access, Prycd operates primarily on a monthly subscription model. It's designed to cater to both novice and seasoned real estate investors, with pricing tiers that ensure enough profit margins for every property dealt with.
Individual Services:
List Upload:
Cost: $0.03 per record
Simplify your process by directly uploading your lists.
Owner/Property Export (Includes Pricing!):
Cost: $0.08 per record
Get detailed records inclusive of pricing data at your fingertips.
Comp Report:
Cost: $2.00 per report
An in-depth report to guide your investment decisions based on comprehensive data.
Skip Tracing:
Cost: $0.14 per record
Dive deeper into each record with our skip tracing service for an exhaustive owner search.
Subscription Plans:
Bronze Plan:
Cost: $24.99 per month
Trial: 7-day free trial
Features:
Research and Analytics
Location Searching
Location Analysis and Model Offer Pricing
View Comps
Owner/Property Record Exporting
External List Upload Pricing
Comp Reporting
Full Customer Support
Bronze Plus (Most Popular):
Cost: $49.99 per month
Trial: 7-day free trial
Features:
All features of the Bronze plan, plus:
Export Comps and PRYCD Data
Polygon Drawing Search Tool
Free External List Scrubbing
Gold Plan:
Cost: $499 per year (offering better value!)
Trial: 7-day free trial
Features:
All features of the Bronze Plus plan, plus:
Comp API Access
10 Free Comp Reports per month
With this range of individual services and subscription plans, Prycd offers flexibility catering to both occasional users and dedicated real estate professionals. Whether you're seeking a one-time detailed report or continuous access to a suite of premium tools, Prycd's pricing structure ensures a solution for every need.
Prycd Features
For any land investor, the core of a successful real estate investing business lies in leveraging the right tools. With the digital shift in recent times, tools like Prycd have emerged as game-changers. Let's dissect Prycd's features, ensuring you're familiar with every granular detail.
Data-rich Comps
Sold Comps: This is the backbone of any valuing land mechanism. Prycd doesn't just pull owner records randomly; it fetches sold comps, crucial for determining the accurate price land should fetch in the market.
Total Comps: Prycd goes beyond just sold comps. It integrates data for properties that are currently listed for sale, properties that were recently sold, and even properties that were once in the market but withdrawn. This panoramic view ensures that you're not missing out on any pricing trend.
Pricing Analysis
Granular Analysis: Prycd doesn't offer a one-size-fits-all solution. Its pricing analysis is granular, adjusting for property sizes, locations, and even population change in the vicinity.
Sale Ratio Insights: A unique feature where Prycd analyzes the difference between listing prices and sale prices, giving insights into how properties are selling in the real market.
Land and Property Scrubbing:
Advanced Algorithms: With Prycd, scrubbing lists is no longer a tedious task. Their algorithms filter out redundant or irrelevant owner records, focusing only on those that fit your investing business model.
Different Features to Filter: Whether it's by economic rank, assessor data, or even by comps available, Prycd offers a myriad of ways to filter out your list, ensuring that you're only working with the cream of the crop.
Blind Offers:
Direct Mail Marketing: Prycd revolutionizes the way land investors reach out to potential sellers. By integrating direct mail marketing features, you can send out blind offers to potential sellers, tapping into off-market deals that most other investors wouldn't have access to.
Customizable Campaign Map: The campaign map isn't just a digital representation; it's an interactive tool. With KML export capabilities, you can get a bird's eye view of every county you're targeting, ensuring your direct mail strategy is on point.
Versatile Export Options:
Spreadsheet Integration: For those who swear by spreadsheets for their due diligence, Prycd offers seamless export options. This ensures that all the data you pull, sort, and analyze can be integrated into tools you're already familiar with.
Compatibility with Other Tools: If you've ever heard of Prycd and wondered whether it'll work with tools like Zillow or Lands of America, the good news is, it does. By ensuring compatibility, Prycd makes sure you're not juggling between platforms but rather working efficiently on a single interface.
Additional Insights
Coefficient of Variation: A unique feature where Prycd assesses the volatility in property values. This is particularly handy for investors looking to invest in stable markets.
Economic and Demographic Data: Prycd goes beyond just property data. By integrating economic rank and population change metrics, it offers insights into how a particular region or county is progressing, directly impacting land values.
Intuitive User Interface
Designed by Experts: Two guys, Max Edson and Ryan Doucet, envisioned Prycd. Their expertise is evident in the platform's design. Whether you're a newbie who's just starting in the land flipping business or someone who's been in the land investing business for years, Prycd ensures that you have a smooth experience.
Always Updated: The real estate landscape is ever-changing. Properties that are a good fit today might not be tomorrow. Recognizing this, Prycd ensures its database is updated, reflecting the latest trends and ensuring you're always ahead in the game.
The land and property market can be unpredictable, but with tools like Prycd, you're equipped with a powerful ally. Whether you're valuing land, preparing to flip a vacant lot, or diving deep into property values for your next big investment, Prycd's features ensure you're not just making decisions but making informed and profitable ones.
Prycd Pros and Cons
Prycd Pros
Comprehensive Pricing Analysis: Prycd stands out with its detailed pricing analysis, enabling land investors to accurately price land based on current market data. By automating this process, investors can make more informed decisions quickly.
Versatile Subscription Models: With three tiers – Bronze, Bronze Plus, and Gold – users can choose a plan that perfectly aligns with their needs and budget. This flexibility ensures that both new and experienced investors find value.
Detailed Comp Reporting: For just $2.00 per report, users get access to a granular comp reporting system. This provides insights into property values, sale comps, recently sold properties, and more, ensuring every property is appropriately valued.
User-Friendly Interface: The prycd.com platform is intuitively designed, making it easy for users to upload lists, view comps, and export data. Even those not very familiar with land investing can quickly get the hang of it.
Advanced Searching Tools: With features like the Polygon Drawing Search Tool, Prycd allows users to search for properties with precision, honing in on specific areas of interest.
In-Depth Owner and Property Records: At a competitive price, users can pull detailed owner and property records, streamlining the due diligence process.
Continuous Support: Regardless of the subscription tier, Prycd offers full customer support, ensuring users have the assistance they need to leverage the platform effectively.
Prycd Cons
Learning Curve: While Prycd is designed to be user-friendly, new users, especially those less familiar with land investing, might face a slight learning curve to fully understand and utilize all its features.
Cost Can Add Up: While the pricing for individual services like skip tracing and comp reports is reasonable, for users handling vast amounts of properties, the costs can accumulate.
Advanced Features Limited to Higher Tiers: Features like the Polygon Drawing Search Tool and Comp API Access are reserved for the higher subscription tiers. This means Bronze users might miss out on some of the platform's full capabilities.
Reliance on Current Data: While Prycd offers comprehensive data, the accuracy of pricing and comps depends on the currency of the data. Markets can be volatile, and any delay in data updating might affect decision-making.
Potential Over-reliance: Like with any automated tool, there's a risk of users relying too heavily on Prycd for decision-making, potentially overlooking the importance of personal judgment and expertise in the land investing business.
How To Use Prycd
Prycd offers an intuitive yet comprehensive platform for real estate investors, particularly those interested in land investing. If you're new to the platform or need a refresher, this guide will help you navigate and maximize the benefits of Prycd.
1. Sign Up & Choose Your Plan:
Begin with a Subscription: Start with choosing a subscription plan that fits your needs. Prycd offers three tiered plans - Bronze, Bronze Plus, and Gold. Each plan offers a unique set of features that cater to various needs. New users can take advantage of the 7-day free trial to experience Prycd’s capabilities.
2. Uploading & Pricing Your Lists:
List Upload: After logging into your account on prycd.com, access the 'List Upload' feature. For just $0.03 per record, you can directly upload your property lists. This helps streamline the process, ensuring you don’t have to manually input data.
External List Pricing: If you've got lists from other sources, use the 'External List Upload Pricing' feature available in all subscription tiers. Prycd will automatically scrub and price your records based on the latest comps and market trends.
3. Detailed Record Exporting & Research:
Owner/Property Export: Extract detailed owner records for just $0.08 per record. This includes comprehensive pricing data, providing insights for making offers or valuing land.
View Comps: Dive into comprehensive comp reports, which are invaluable for land investors. These reports offer insights into similar properties, property values, sale comps, and recent sales. Available for $2.00 per report, this research tool provides granular data for informed decisions.
Skip Tracing: Dig deeper with the skip tracing service, which costs $0.14 per record. This tool is essential when you want exhaustive owner record searches or when pulling owner records for a particular parcel.
4. Analyzing Locations & Making Offers:
Location Searching & Analysis: Once logged in, utilize the 'Location Searching' feature to scout potential vacant lands or lots. With the 'Location Analysis and Model Offer Pricing', you can get a grip on the pricing analysis, ensuring your offer prices are competitive.
Making Offers: With the insights from your comp reporting, location analysis, and pricing data, draft blind offers. The pricing analysis ensures your offers are neither too low nor exorbitantly high.
5. Utilizing Advanced Features:
Polygon Drawing Search Tool: Exclusive to Bronze Plus and Gold subscribers, this tool lets users search for properties with more specificity by drawing exact search boundaries.
Comp API Access: Only for Gold subscribers, integrate your tools with Prycd's database to pull comp data seamlessly.
Free External List Scrubbing: Gold and Bronze Plus users can refine their external lists for free, ensuring more accuracy in their direct mail marketing campaigns.
6. Leverage Customer Support:
If at any point you're unsure about a feature or need assistance, all subscription tiers offer full customer support. The Prycd team is committed to making your land investing business flourish.
Navigating Prycd is straightforward once you familiarize yourself with its features. Its intuitive platform combined with robust tools makes it a must-have for anyone working in the land flipping business.
Prycd Alternatives
Prycd vs. Zillow
Prycd primarily focuses on assisting land investors with valuation, pricing analysis, and more. It offers detailed scrubbing features, pricing tools, comp reports, and comprehensive direct mail campaigns for land parcels and vacant lots. It's tailored for those particularly interested in land investment, streamlining the process with accurate valuation techniques.
On the other hand, Zillow is a household name in the real estate world. It's mainly known for its 'Zestimate,' a property valuation feature. While it's extensively used for residential property valuations, Zillow's database might not have the granularity required for land investors, especially when it comes to niche or non-standard markets. However, Zillow's extensive database and frequently updated listings make it a go-to for a broad overview of the real estate market.
Prycd vs. Redfin
Prycd excels when it comes to land and vacant property specifics, offering tools that cater to land flipping and land investing business models. The platform's emphasis on scrubbing lists, direct mail marketing, and comp reporting provides a holistic suite for land investors.
Redfin, similar to Zillow, provides an automated valuation model but draws its strength from direct access to MLS data. This can sometimes result in more accurate property valuations for residential real estate. Redfin is streamlined, user-friendly, and also offers agent reviews, which can be valuable for those looking to collaborate with professionals. However, when it comes to specialized land investing tools, Prycd may have an edge due to its focused features.
Prycd vs. PropStream
Prycd offers land investors a comprehensive set of tools for valuing land, sending out blind offers, and even direct mail campaigns. Its features like campaign maps, scrubbing tools, and KML exports cater directly to those who deal specifically with lands.
PropStream is a real estate investor's dream in many ways. It provides deep insights into properties, covering aspects from liens, foreclosures, property history, and more. PropStream's strength lies in its comprehensive data for various properties, making it ideal for those looking beyond just land. Additionally, it offers list-building tools and direct mail campaign features, paralleling some of Prycd's offerings. For a land investor, the choice between Prycd and PropStream would hinge on the specific needs of their project and the depth of information they require.
Prycd FAQ
How does Prycd's pricing analysis differ from tools like Zillow?
Prycd's strength lies in its specialization for vacant land and the granularity of its data, making it superior for land investors.
I've heard of Prycd recently. How long have they been in business?
Prycd, founded by Max Edson and Ryan Doucet, has been serving the land investing community for less than two years, but its impact has been profound.
Is the data on Prycd reliable for making offers?
Absolutely! With a focus on providing recent sale comps and current listings, it's a reliable tool for making informed offers.
Does Prycd only cater to the southwestern market?
While they have extensive data for the southwestern region, they cater to every county in the U.S.
Can I integrate Prycd with other real estate tools?
Yes, Prycd offers various export options, ensuring seamless integration with other tools.
Summary: Is Prycd Worth the Investment?
In the dynamic world of real estate investing, having a reliable tool like Prycd can be the difference between a profitable venture and a missed opportunity. Prycd streamlines the intricate process of land valuation, offering real estate investors a unique blend of precision and convenience. However, while tools assist, it's also crucial to have a direct line to prime real estate opportunities.
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