Best software to manage seller financing?

Tech & Software
1

I have a portfolio of 10 seller-financed loans and have an opportunity to purchase another 25 from another seller I know who needs the cash.

My only issue is that I already spend 10-20 hours a month dealing with issues from my 10 loans and if I took on another 25 loans, I would probably need to hire someone, which would eat into almost all my margin.

Is there any software to manage this? I have been using a combination of email and Google Sheets, but it is a bit of a mess and I have manually enter everything when I update it.

I did some research and I have come across Seller Servicing which looks interesting, and read the GeekPay REtipster review but the comments say that the customer service is bad.

Any recommendations on which software to use? At a minimum, it would be great if I could auto ACH payments and generate statements / calculate the remaining payments left. I think that would solve 90% of my issues.

Thanks,

Theo

2

I have 15 loans across 3 states and recently moved from Zimple to Seller Servicing. The biggest difference is that the Seller Servicing platform is super modern and you can even integrate it directly into your website and process cash payments if you need. Their team also will add feature requests usually in 1 week if you want something custom added to the app. Zimple interface is from 2001. The only thing missing from Seller Servicing is a mobile app but they say they are working on it. I’d recommend them for sure. Haven’t used GeekPay before.