In the competitive world of real estate investing, having the right tools at your disposal can make all the difference.
Products and Tools Mentioned in this Post
Propstream
Detailed information on Propstream. Get How-To's, reviews, Comparisons, and much more.
Introduction
Two popular platforms helping investors navigate this landscape are PropStream and DealMachine.
Each has its strengths and weaknesses, but which one is best suited for your needs? In this detailed comparison, we'll dive deep into their features, benefits, limitations, pricing structures, user reviews, and more to help you decide which platform will give you a winning edge in the real estate market.
Key Takeaways
- PropStream and DealMachine are two popular platforms for real estate professionals and investors that offer features such as driving for dollars, lead management, and marketing outreach.
- PropStream provides more property data sets while DealMachine has a mobile-first design with a Virtual Driving for Dollars feature.
- PropStream may be considered relatively expensive compared to DealMachine's cost - effective solution, although the former does offer more comprehensive analysis tools.
- Choosing between these services will depend on your individual needs as a real estate investor or professional, including pricing structure, platform support, user reviews and ratings, integrations with other software you use regularly (such as Chime or Pipedrive), customer service options available when needed most--make sure to determine which is best suited to meet your specific goals before making any investments.
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Overview Of PropStream
PropStream is a real estate data analysis tool that provides property and market information to real estate professionals, such as investors, agents, and brokers.
Features Of PropStream
PropStream offers a comprehensive suite of features designed to cater to the diverse needs of real estate professionals and investors. These include:
- Access to nationwide property data, including owner information, property characteristics, and MLS information.
- Advanced search filters to identify potential investment properties based on criteria such as location, property type, and financials.
- Powerful list building functionality with over 100 filtering options for targeted marketing campaigns.
- Bankruptcy and Divorce status indicators to help pinpoint motivated sellers.
- CRM integration for seamless lead management and tracking throughout the sales process.
- Map functionality that allows users to visualize their target properties, along with recent sales comps in the area.
- Skip tracing feature for locating hard-to-find property owners (although not available on PropStream’s test drive).
- Marketing outreach tools such as direct mail, email campaigns, and Ringless Voicemail services.
- Opportunity tab which highlights potential investment deals based on specific criteria like equity percentage or days on the market.
- Docs tab where users can access contracts, agreements, and other essential real estate documents needed during transactions.
- Desktop version as well as a mobile app for convenient access to all of PropStream's features while on-the-go.
Benefits Of Using PropStream
PropStream offers a wide range of benefits for real estate investors and professionals seeking to streamline their business processes and make data-driven decisions. Some of the key advantages include:
- Comprehensive property data: Access to extensive property datasets, including owner information, property characteristics, mortgage history, tax information, and MLS details.
- Advanced search filters: Users can utilize multiple filter options like bankruptcy or divorce status to narrow down their list of potential leads.
- Versatile list building capabilities: PropStream allows users to create and manage lead lists for targeted marketing outreach.
- Powerful analytics: The platform provides valuable insights on market trends, helping users make informed investment decisions.
- CRM integration: Real estate professionals can seamlessly integrate PropStream with their existing CRM systems for efficient lead management.
- Marketing resources: PropStream offers various marketing tools such as direct mail, email campaigns, and ringless voicemail options for better lead conversions.
- Team collaboration features: Real estate teams can easily collaborate and share project updates within the platform for improved productivity.
- User-friendly interface: Both the desktop version and mobile app are designed with ease-of-use in mind to accommodate all types of users.
- Access to off-market deals: By leveraging the extensive database of properties available on PropStream, users can find lucrative off-market deals that may not be listed on popular real estate websites such as Zillow or Redfin.
- Responsive customer support: Users can rely on prompt customer service for any queries or issues they may face while using the platform.
With these benefits in mind, it's clear that PropStream offers a robust solution tailored to meet the needs of real estate investors and professionals alike.
Limitations Of PropStream
While PropStream offers a comprehensive suite of features for real estate investors and professionals, it does have some limitations that users should consider:
- Unfriendly user interface: Some users have reported that the platform's interface is not as intuitive or easy to navigate compared to competitors.
- Small font size: The small font size used in PropStream can be challenging for individuals with vision impairments, affecting overall usability.
- Relatively expensive pricing: Compared to similar real estate solutions, PropStream's pricing may be considered high by some users.
- Data sourcing: Although PropStream sources its data from various online resources, this may result in inconsistent or outdated information in certain cases.
- Skip tracing feature limitations: Users have noted that skip tracing information within the leads can be somewhat hidden, making it difficult to access quickly and efficiently.
- Pre-paid credits required: To contact leads during drives on the desktop version of PropStream, users must purchase pre-paid credits, adding an extra expense to usage.
- Route determination: Users are responsible for determining their own route while using the platform's driving for dollars feature, which may not be ideal for all situations and users.
- Lack of performance metrics: There is no readily available statistical data or ratings provided on PropStream's webpage comparing its performance against competitors like DealMachine.
Overall, despite these limitations, PropStream remains a popular choice among real estate investors and professionals due to its extensive property data and features such as property analysis and lead generation tools.
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Overview Of DealMachine
DealMachine is a mobile-first platform designed to help real estate investors and professionals find leads by driving for dollars, offering features such as lead cards, skip tracing, property data, and virtual driving for dollars.
Features Of DealMachine
DealMachine is a mobile-first platform designed to help real estate investors find and contact property owners directly. It offers the following features:
- Driving for Dollars: This feature enables users to identify distressed or vacant properties by driving around neighborhoods and pinpointing them on a map.
- List Building: Users can create custom lists of leads based on various criteria, such as location, ownership status, and equity percentage.
- Lead Management: DealMachine provides a CRM-like tool for managing leads, including lead cards that contain information on the owner, property characteristics, MLS data, bankruptcy/divorce status, and more.
- Team Functions: DealMachine allows team collaboration with features like assigning leads to other members and setting up access levels.
- Marketing Outreach: Users can customize postcard designs or use templates available in the platform to reach out to potential sellers via direct mail campaigns.
- Customer Service: DealMachine has a high rating of 4.8 out of 5 stars in over 5,000 reviews from satisfied customers who applaud its customer service team that resolves issues promptly.
- Skip Tracing: The system automatically performs skip tracing which provides accurate owner information so investors can be sure they are contacting the right people regarding their investment opportunities.
- Virtual Driving for Dollars: DealMachine's Street Pic add-on enables users to get real-time updates from streets they have previously visited as well as view property photos.
- Property Filters & Data: DealMachine helps investors locate off-market deals by searching for properties with specific characteristics such as equity percentage or days on market while displaying sales history too.
- Route Planning: Plan your route using this function when visiting multiple properties saves time and reduces costs by allocating resources selectively.
Benefits Of Using DealMachine
DealMachine offers several benefits for real estate professionals and investors, including:
- Virtual Driving for Dollars: Users can use DealMachine’s mobile app to “drive” virtually and find potential investment properties without leaving their desks.
- Advanced Mapping Functionality: DealMachine allows users to draw custom areas on the map and filter properties based on different criteria.
- Lead Management: With DealMachine, users can easily manage leads by moving them through the sales pipeline, from lead status to contract signed.
- Marketing Outreach: DealMachine provides users with several marketing outreach options, including direct mail, postcard design, mailing campaigns, email campaigns, and Ringless Voicemail.
- Customer Service: DealMachine has excellent customer support ratings in both the App Store and Google Play Store.
- Cost-Effective Solution: DealMachine is an affordable option compared to other similar software solutions like PropStream or REIPro.
- Seamless Integration with Other Platforms: DealMachine supports integration with popular CRMs like Chime, Pipedrive, and monday.com, making it easier for users to manage their leads across multiple platforms.
- Route Planning: The platform generates optimal GPS routes to properties based on user preferences, helping them save time when visiting potential investment properties.
- Property Photos Features: DealMachine's Street Pic add-on generates a Google Street View image of a property after a drive that allows users to add property images conveniently.
- Ease of Use on All Devices: With its intuitive interface, even newbies can easily navigate the desktop version of this mobile-first solution.
Overall, using DealMachine provides significant benefits for those in real estate investing looking for an app that streamlines lead management and combines it with comprehensive research tools at an affordable rate.
Limitations Of DealMachine
DealMachine has some limitations that users should consider before choosing it as their primary tool for real estate investing:
- Limited integrations - DealMachine has limited integrations with other real estate software tools, which may require manual data entry and lead management.
- No MLS access - Unlike PropStream, DealMachine does not provide MLS access, limiting the availability of accurate property data and analysis.
- No bankruptcy or divorce status information - DealMachine does not provide bankruptcy or divorce status information on properties, which may affect the accuracy of lead targeting.
- Limited marketing outreach options - While DealMachine offers direct mail campaigns and Ringless Voicemail as marketing outreach options, it lacks email campaign functionality that PropStream provides.
- Limited customer service support - DealMachine's customer service support is limited to email and in-app messaging, with no phone or live chat support available.
It is important to note that these limitations may not be significant depending on an individual's specific needs and preferences when it comes to real estate investing tools.
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Comparing PropStream And DealMachine
When comparing PropStream and DealMachine, both performed well in terms of Driving for Dollars; however, PropStream offers additional features such as the "Opportunity" tab and the Docs tab, while DealMachine is mobile-first and offers a Route Planning feature and Virtual Driving for Dollars.
Driving For Dollars
When it comes to the "Driving for Dollars" technique, both PropStream and DealMachine offer different experiences tailored to property investors.
| Feature | PropStream | DealMachine |
|---|---|---|
| Mobile App | Limited functionality | Full-featured mobile app |
| Contacting Owners | Requires pre-paid credits on desktop | Direct contact from mobile app |
| Route Planning | No route planning feature | Optimal GPS route generation |
| Location Data | Opportunity tab with location-based leads | Location data based on current area |
| Property Information | Docs tab to purchase property info | Property info available on mobile app |
These differences make it important for investors to choose the platform that best aligns with their specific preferences and needs when utilizing the "Driving for Dollars" method.
List Building
When it comes to list building, both PropStream and DealMachine offer unique features that help real estate investors create targeted lists of potential properties and leads. The following table compares the list building capabilities of both platforms.
| Feature | PropStream | DealMachine |
|---|---|---|
| Property Search | Offers a comprehensive property search feature, allowing investors to search for properties based on various criteria such as pre-foreclosures, high equity, vacant properties, and more. | Provides a driving for dollars feature that helps investors find potential deals by searching for properties based on visual cues like vacant or distressed properties during a drive. |
| Custom Lists | Allows users to create custom lists using numerous filters and criteria, enabling them to target specific property types and markets effectively. | Lets users build custom lists but with a stronger focus on driving for dollar leads, which might be more suitable for investors focusing on a specific neighborhood or market. |
| Skip Tracing | Offers an integrated skip tracing feature that enables investors to find contact information for property owners, making it easier to reach out to potential leads. | Provides an in-app skip tracing feature as well, though some users have reported that the accuracy of the data might not be as high as PropStream's. |
| Data Export | Users can export their lists in various formats such as CSV, Excel, and PDF, making it convenient for sharing and analysis. | DealMachine also allows users to export their lists in various file formats, but with a stronger focus on direct mail campaigns or integration with CRM tools. |
| Data Accuracy | PropStream is known for its accurate and comprehensive data sources, ensuring that investors have the most up-to-date information when building their lists. | While DealMachine generally provides accurate data, some users have reported occasional discrepancies, which may require additional research or verification. |
Lead Management
Lead management is a crucial aspect of real estate investing and professionals need a reliable platform to track and manage potential leads. Both PropStream and DealMachine offer lead management features to help users stay organized and make data-driven decisions. This table compares the lead management capabilities of PropStream and DealMachine.
| Criteria | PropStream | DealMachine |
|---|---|---|
| Data Collection | Provides extensive property data such as owner details, mortgage data, tax records, and more. | Offers essential property data such as owner information, property history, and recent sales data. |
| Filtering and Sorting | Features advanced filtering options, allowing users to select specific criteria to narrow down potential leads. | Offers basic filters to sort properties by property type, geographical location, and status. |
| List Building | Users can create custom lists of properties based on their preferred criteria, and save or export the list for further analysis. | Allows users to build lists of potential leads within the app and export the data to use with external tools. |
| Task Assignment | PropStream does not have a built-in task assignment feature for team members. | DealMachine's team functionality allows assigning tasks to different team members directly within the app. |
| Integration with Other Tools | Integrates with other popular real estate and marketing tools such as REIPro, DealMachine, and Investor Carrot. | Integrates with popular CRM systems for seamless data transfer, making lead management more efficient. |
| Training and Support | Offers webinars, in-person training, and a comprehensive knowledge base to help users get started and master the lead management features. | Provides training resources such as webinars, blog posts, and customer support for users to learn the lead management features effectively. |
Team Functions
Team functions are an important aspect to consider when comparing PropStream and DealMachine, as they play a crucial role in driving efficiency and collaboration within a real estate team. The following table highlights the key differences in team functions offered by both platforms:
| Features | PropStream | DealMachine |
|---|---|---|
| Team Management | Limited team management functionality, mainly focused on providing shared access to the platform. | Offers more robust team management features, including the ability to add and remove team members, set permissions, and monitor team performance. |
| Driver Recruitment | No specific driver recruitment features available. | DealMachine has built-in driver recruitment tools to help users find and hire drivers for their Driving for Dollars campaigns. |
| Collaboration Tools | Provides shared access to the platform, but lacks in-depth collaboration tools. | Offers collaboration features such as in-app messaging, lead assignment, and real-time updates on team member progress. |
| Team Performance Tracking | No specific team performance tracking features. | Allows users to monitor team performance through the DealMachine dashboard, providing insights into leads generated, deals closed, and overall return on investment. |
Overall, DealMachine presents a more comprehensive set of team functions compared to PropStream, making it a better choice for real estate teams focused on collaboration, driving efficiency, and optimizing performance.
Marketing Outreach
Marketing outreach is an essential aspect of any real estate business, as it helps in finding potential clients and nurturing relationships with existing ones. In this section, we will compare the marketing outreach features of both PropStream and DealMachine, highlighting their differences and advantages.
| Features | PropStream | DealMachine |
|---|---|---|
| Email and SMS Campaigns | Offers robust email and SMS marketing campaigns, with templates and personalization options. | Provides built-in email and SMS capabilities, with customizable templates and automated follow-up features. |
| Direct Mail | Allows users to create, print, and send direct mail campaigns with a variety of customizable options. | Offers an integrated direct mail solution, with the ability to send postcards, letters, and more directly from the platform. |
| Marketing Analytics | Includes detailed analytics and reporting features to track the success of marketing campaigns. | Features campaign performance tracking, enabling users to monitor the effectiveness of marketing efforts. |
| CRM Integration | Offers integration with popular CRM systems for seamless communication and data sharing. | Provides integration with CRM tools to help users manage leads more efficiently. |
| Custom Branding | Allows users to customize their marketing materials with their logo, colors, and other branding elements. | Offers customization options for marketing materials, including the ability to add a logo and other branding assets. |
Overall, both PropStream and DealMachine provide comprehensive marketing outreach solutions with a variety of features and tools. PropStream offers more advanced capabilities in terms of email and SMS campaigns, while DealMachine's integrated direct mail solution is a standout feature. Ultimately, the choice between the two platforms depends on the specific marketing needs and preferences of each user.
Customer Service
PropStream and DealMachine both offer customer service to users, however, the specifics of their support teams and features are not provided in this article. To assist users in understanding the differences in their customer service, we've compiled a table that compares the services offered by both platforms.
| Customer Service Features | PropStream | DealMachine |
|---|---|---|
| Email Support | Available | Available |
| Phone Support | Available | Available |
| Live Chat Support | Unknown | Available |
| Help Center/Documentation | Available | Available |
| Video Tutorials/Webinars | Available | Available |
| Community/Forum Support | Unknown | Unknown |
Please note that the information provided in this table is based on available information and may not be comprehensive. Users should explore additional resources and reviews to gain a full understanding of the customer service offered by PropStream and DealMachine.
Back to topPricing And Platforms Supported
Learn about the pricing and available platforms for both PropStream and DealMachine to see which one is right for your real estate investing needs.
PropStream Pricing
PropStream offers a variety of pricing plans to cater to different needs of real estate professionals and investors. The detailed pricing structure for PropStream's plans is presented in the table below:
| Plan | Monthly Price | Annual Price | Notable Features |
|---|---|---|---|
| Basic | $99 | $995 | Access to property data, list building, skip tracing, property analytics, and comps |
| Pro | $129 | $1,290 | All Basic features plus marketing tools, team functions, CRM integrations, and API access |
| Elite | Contact for Pricing | Contact for Pricing | Customized plan for businesses with specialized needs, includes all Pro features and dedicated account management |
Please note that PropStream also offers a 7-day free trial for users to try the service before committing to a subscription plan.
DealMachine Pricing
DealMachine offers a variety of pricing plans to suit different needs and budgets, allowing users to select the plan that best aligns with their requirements. The following table provides an overview of DealMachine's pricing plans:
| Plan | Price per Month | Features |
|---|---|---|
| Free | $0 |
|
| Basic | $49 |
|
| Pro | $99 |
|
| Enterprise | Custom |
|
DealMachine's pricing plans cater to users at various levels of experience and budget constraints, providing scalability as their real estate investing journey progresses.
Platforms Supported By Both Services
Both PropStream and DealMachine are designed to work on multiple platforms, including desktop and mobile devices.
PropStream's desktop version is optimized for Windows systems but it can also be accessed using other operating systems. Meanwhile, its mobile app can be utilized on both Android and iOS-powered devices.
Users of both services have reported success in using either platform across different devices while easily accessing property data, driving routes, managing leads lists, and performing marketing outreach efforts.
Back to topUser Reviews And Ratings
See what other real estate investors and professionals have to say about PropStream and DealMachine. Find out which platform has the best overall rating and read about experiences with specific features.
PropStream User Reviews
Real estate investors and professionals often turn to PropStream for its extensive data software and analytics capabilities. According to user reviews, PropStream's platform is easy to use with a clean interface and robust property search options that allow users to filter by characteristics like bankruptcy and divorce status, MLS info, owner information, and more.
The lead management system in PropStream offers customizable statuses for each lead with notes sections for keeping track of interactions. Additionally, users have access to Ringless Voicemail which allows investors to leave pre-recorded messages directly on seller phones without being intrusive.
Overall, PropStream's customer service has received mixed reviews with some praising their chat support function while others suggest it could be improved upon. Nevertheless, many reviewers appreciate the vast amount of property data provided by Propstream as well as its marketing outreach tools like direct mail campaigns or email blasts.
DealMachine User Reviews
DealMachine has received rave reviews from its users, with a high rating of 4.8 out of 5 stars on various review sites and over 5,000 user reviews. Many investors appreciate the mobile-first approach that DealMachine takes, making it easy to use on the go to drive for dollars and gather leads quickly.
Additionally, many users find DealMachine's lead card feature incredibly useful as it displays all relevant property information such as photos and characteristics alongside owner information like bankruptcy status or divorce proceedings.
Overall, DealMachine appears to be a popular choice among real estate professionals due to its ease of use and effectiveness in generating leads.
Back to topAlternatives To PropStream And DealMachine
Other alternatives to PropStream and DealMachine include Zillow, Mashvisor, REIPro, Roofstock, BatchLeads, Realeflow, Rentometer, Stessa, BiggerPockets and more.
Zillow
Zillow is a household name in the real estate industry, offering an online platform for buyers, sellers, and renters to browse properties and connect with agents. However, when it comes to advanced data analytics tools for real estate investors, Zillow falls short compared to PropStream and DealMachine.
While Zillow offers basic property information like listing prices and images, it lacks the customizable filters and lead management features that both PropStream and DealMachine offer.
Mashvisor
Mashvisor is a popular alternative to both PropStream and DealMachine for real estate investors. It offers real estate analytics tools that help investors identify the most profitable properties in different US housing markets.
One of its key features includes an investment property calculator that allows users to perform cash flow calculations, occupancy rates, and potential revenue projections for traditional long-term or short-term rentals or Airbnb rentals.
Mashvisor's user-friendly interface makes it easy for anyone to use, while its affordable monthly subscription plans come with a 7-day free trial and 15% off subscription for life after the trial period.
REIPro
REIPro is a powerful and centralized platform that provides assistance to real estate investors with various features. It includes lead generation, CRM, property analysis, contract management, and marketing tools.
With REIPro, users have access to property data such as owner information, bankruptcy and divorce status, MLS listings and zoning information among others.
Training options for REIPro include documentation as well as live online sessions which can be accessed via the company's website. The software also has an API that integrates with other popular real estate platforms making it a versatile option for industry professionals seeking optimal results in their businesses.
Roofstock
Roofstock is a popular online real estate platform that provides investors with access to single-family rental homes across different markets in the US. It allows investors to buy and sell turnkey investment properties entirely online.
In addition to detailed information about each property's characteristics and historical performance data for analysis purposes, Roofstock also offers property management services.
With these services, landlords can seamlessly manage their investments without having to be physically present at the location of their properties.
Back to topHow To Choose The Right Service For Your Needs
To choose the right service for your needs, consider factors such as pricing, features, ease of use, and customer support. As a real estate investor or professional, it's important to evaluate each platform based on how well it aligns with your business goals and strategy.
Factors To Consider
To choose the right service between PropStream and DealMachine, there are some factors to consider. These include:
- Investment goals: Consider your real estate investment strategy, whether it's wholesaling, fix-and-flip, or buy-and-hold rentals.
- Functionality: Look at the features provided by each platform and decide which suits your needs best.
- Availability of property data: Evaluate the quality and accuracy of the property data provided by each platform.
- Pricing: Compare the pricing plans offered by both services and determine which offers better value for money.
- Ease of use: Assess how easy it is to navigate and use each platform.
- Customer support: Look into the level of customer support provided by each service and consider their response time to inquiries or issues.
- Integration with other tools: Consider if either platform can integrate with other software you are already using for real estate investing purposes.
- Mobility: Determine how important it is for you to have access to the platform's features on-the-go through a mobile app or if desktop access is enough
Considering these factors will help investors choose the right software that fits their investment goals, while providing reliable data on every aspect of real estate investing such as lead generation, property analysis , market trends analysis among others
Recommendations
Here are some recommendations to consider when choosing between PropStream and DealMachine:
- If you're looking for a more data - driven approach and have a team of experienced real estate professionals, PropStream may be the better option for you.
- If you're looking for an app that is mobile - first and optimized for driving around different neighborhoods, then DealMachine is your best bet.
- Consider the size of your investment portfolio and how many leads you generate on a regular basis. PropStream's bulk data capabilities may work better if you have a large number of properties to manage.
- For investors who prefer more control over their marketing outreach campaigns, DealMachine offers more customization options that allow for targeted postcard and email campaigns.
- Consider whether you value additional functionality such as planned route mode or virtual driving for dollars, in which case DealMachine offers robust solutions.
- Consult user reviews to gain insight into which platform customers believe offer the most robust features and customer service support.
- Finally, take advantage of free trials available from both platforms to test out their features before committing to a monthly or annual subscription plan.
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Conclusion
When it comes to investing in real estate, having the right tools and resources is essential. Both PropStream and DealMachine offer useful features for driving for dollars, lead management, and marketing outreach.
Ultimately, choosing between these two services will depend on your specific needs as a real estate investor or professional.
FAQs:
1. What is PropStream and how does it compare to Deal Machine?
PropStream is a real estate data provider that allows professionals to access property information, analyze markets and potential deals, and manage their leads through a single platform. Compared to Deal Machine, PropStream offers more comprehensive data sets and advanced filtering options.
2. Is PropStream or Deal Machine better for finding off-market properties?
While both platforms can be used for finding off-market properties, Deal Machine leverages its direct mail campaigns and on-the-go lead generation tools to help users identify interested sellers in target neighborhoods.On the other hand, PropStream has more advanced search capabilities that enable investors to analyze the market thoroughly before approaching property owners with an offer.
3. Can I use both Propstream and Deal Machine at once?
Yes! It's possible to use both platforms together as they offer different features useful for real estate investing purposes. Users may choose to utilize particular functionalities of one program over another depending upon individual preferences & budget constraints.
4. Which platform is best suited for beginners in real estate investing - prop Stream or deal machine?
Both programs have user-friendly interfaces that make them great choices for newbies however - If your goal is merely identifying potential opportunities then you could start with using just deal machine However-if you plan on analyzing multiple metrics like MLS Listings etc., we recommend starting with using prop stream pro version as it provides ample data points necessary when conducting thorough analysis before making investment decisions (it includes vital information such as area demographics/property value estimates).
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