Servicing can be tricky – you can get screwed by a bad servicer, or accidentally screw yourself if you try to do it on your own!
Whenever you create a note – that note needs to be serviced. A third party servicer deals with the escrows, cutting the checks and sending you a 1099 so you know how much interest was paid.
Essentially, it’s the act of collecting the payment from your borrower and dispersing it where it needs to be dispersed.
This week, we are going to learn all about how servicing works – and how you can avoid the common mistakes I often see real estate investors make.
In this episode, I sit down with Paul O’Dwyer and Mike Powell – two incredibly smart dudes who have a lot of experience with servicing.
We’ll unpack the three steps you need to take to make sure you never get screwed when it comes to servicing.
In this video, we will cover:
- The liabilities that come with servicing and how you can make sure you are compliant.
- What an escrow is and how it works. (And how you can explain it to your seller.
- How to choose the right servicer for you.
- And so much more.
This video is super valuable – because you get to learn from guys who have real experience with this. So, don’t miss it!