Episode 4: Note Servicing: How and Why to Delegate Your Collections
Episode description
Shannon Stephen is the founder and the driving force behind MoatNoteServicing, LLC at ReInvestorSummit.com/noteservicing
For over two decades Shannon has worked for some of the most prolific real estate investors in her community, and has collected thousands upon thousands of payments for properties for her employers who are the principal owners of the notes.
Today she is a registered and bonded professional note servicing expert specialising in helping third party mortgagors and landlords to collect their monthly payments. She will also collect your monthly rental payments but make no mistake, Moat Note Servicing is NOT a property management company.
Shannon possesses a vast range of real life experience and expertise in the processes of collections. From late fees, timely noticing, and bankruptcy filings, to squatters, foreclosures, and writ of possessions, there is little this collection agent hasn’t dealt with.
What you’ll learn about in this episode:
What is a note servicing company, and how does it help you?
Who needs a note servicing company
How we train people to pay you on time, every time, from the very beginning.
Learn how 3rd party services can save you a LOT of stress
How to navigate the laws concerning late payments and win!
What is escrow, and what are you required to do as the owner financer?
How to determine the amount of escrow you need to collect
Learn the 5 types of charges you can collect to get the most value out of your property
How to get your payers to pay for the collection services as well
Resources:
REInvestorsummit.com/NoteServicing
REInvestorsummit.com/Live
Shannon@MoatNoteServicing.com