Admin & Borrower Management in a Nutshell

The Administrative Process is the easy part – it’s all the due diligence, the process of setting of the servicing, getting it to the collection agency, contacting the necessary vendors, and following the necessary steps.

After completing all the administrative steps comes understanding the collection piece – part of that is following the necessary rules, laws, and compliance, as well as the human aspect of it. Once you’ve purchased a property, you might be expecting people to automatically pay you all their debt – but it doesn’t work like that.

Strategies that are in place to get tenants to pay debt if they can afford it: There is the Fin Pack, and then there is the alternative of taking the property if a tenant doesn’t open communication – this can be a particularly difficult situation.

nngcapitalfund.com

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