PRYCD Review: Is This the Best Way to Value and Price Land?

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0:00 - Intro to PRYCD
5:44 - How to do market research with PRYCD
27:06 - How to generate and understand PRYCD comp reports
44:16 - How to generate, scrub, and price lists with PRYCD
1:12:25 - Final Thoughts

If you've been working in the land flipping business for any time, there's a good chance you've heard of PRYCD.

PRYCD is an online software created by two guys who set out to solve some of the biggest problems land investors have to deal with

Researching Markets
Valuing Land
Formulating Offer Prices
Scrubbing Lists

These things have always been a challenge in the land investing business. Doing these tasks with accuracy takes a lot of time and a bit of guesstimation to get most deals done.

What Does PRYCD Do Exactly?

PRYCD has created some online tools that compile data from various sources to provide fast answers with some degree of accuracy.

PRYCD is pulling its data from a few different key sources:

The DataTree API, which includesing gobs of data on nearly every parcel in the United States.
Sold comps (dating back 12 - 36 months) from websites like Lands of America, Zillow, and Realtor.com (among others).
For Sale comps from the public listing websites like Lands of America, Zillow, and Realtor.com (among others).
Economic data and population statistics from government databases.

It compiles this data to help land investors do a few things:

Research Markets: Determine which markets they want to pursue based on the availability of data in that market, the reliability and consistency of comps, and the economy's health. See the "Research" process shown in the video review above.
Value Properties: Their system can evaluate any individual property and generate a number of "comps" in the area based on sizes, zoning, and location. See the "Comp Report" process, shown in the video above.
Generate, Scrub, and Price Lists: Using the combined data from DataTree and other public listing sites, users can determine which types of properties they want to pursue in a given area and how they want to price their offers (and this can be done at a pretty granular level). See the "Price Land" process, shown in the video above.

PRYCD pulls in a lot of data from these sources in an attempt to help land investors qualify the markets they want to work in and come up with an estimate of what properties are worth, which is a critical component of making the right offer and having confidence that you're buying at the right price.

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