Who do you recommend to service seller finance deals?

Any preferences, recommendations and insight helps! Thanks in advance.

@Violeta I'll be curious to see what others say in response to your question, as well, because I currently only have one property under seller financing.

I've seen/heard several others land flippers in the past mention GeekPay, but I don't have any personal experience with them. I think I had glanced at it very quickly a few months ago and determined it wouldn't be a cost-effective option in my case, yet, given my miniscule scale at this point. I seem to remember that it probably had some very helpful features for seller financing real estate, such as (I think) handling changes to your amortization table that could arise from, say, extra principal payments, etc.

In my case, I just set the purchase price with my buyer to the total amount they agreed to pay (after all payments were made) and called it 0% financing, so amortization would be simpler, and I already had a Freshbooks account for other business activities we do, so I set up a monthly recurring invoice with my land buyer through their invoicing system, with a processing fee tacked on to cover the cost if he pays by credit card (which he has been, so far). Not sure, yet, if there are any disadvantages with this approach, or issues we may encounter trying to scale it.

I've never used them myself, but I've seen this company come up a lot whenever I search for "note servicing companies" on google over the years... so there must be something to them.

Some of these companies are only licensed to service seller financed deals in certain states, so you'll have to figure out which ones are even a viable option in the place where your property is. Maybe do a google search for note servicing companies in [STATE].

I've used Del Toro Loan Servicing in the past and had a good experience with them. There are probably many other loan servicing companies that will do a similar thing, but that's the one I've had direct experience with.

Overall, it's a similar benefit they bring to the table as a loan servicing software like GeekPay. I think the only real advantage to using an actual company like this is that they'll handle any tax filing you might need to have done directly, they can refer you to state-specific resources if you're dealing with a default, and you'll probably get more customer service if you or your borrower need it (i.e. - if a payment is going to be late or you need to communicate something about the loan itself... kind of like calling up the loan servicing department at a bank, where you can talk to an actual person about the loan), whereas you'd be more "on your own" in handling any issues directly with the borrower if you use software.


I personally am using geekpay right now. They dont service the note for you, its just a platform for managing them. I have mine linked to stripe for downpayments and atcum for ach deposits.

The platform offers a way for customers to login and see their amortization tables etc. It also automates emails about payments/past due etc. Very easy to use.

I have heard of others using cozy as a free option, although it technically is set up for rental property.

A fellow investor in a master mind group i am in sends all his to Madison note servicing for 20 bucks a not per month and its hands off for him.

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Thank you for posting about geekpay, how much are they charging you per month. I was told that if you want the automatic system it would be $99.00 a month.

I see that Del Toro Loan Servicing is $20.00 a month and the overall workload they take off our plate is totally worth that price. But I was wondering if you like GeekPay more?

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@retipsterseth thanks for sharing!