Behind the Scenes :
What it Means to Service a Loan
Special Feature for Realty411 Readers
Here at Ignite Funding we offer passive real estate investments that earn investors a 10 % 12 % annualized fixed income . All you have to do is choose an investment , fillout some paperwork , and send in your funds . Now you can sit back and enjoy your returns , but for Ignite Funding , the work carries on . Today we are giving you a behind the scenes look with Pat Vassar , Director of Underwriting , to see some of what Ignite Funding does in its daily operations to keep these investments passive for its investors .
For construction / development loans , do you visit the properties to see the borrowers progress inperson ? How often ?
Image by Mediamodifier from Pixabay
Carrie Cook ( Ignite Funding ’ s President ) and I visit each property on average once every four months . In a given year , we can service up to 100 projects , visiting each of those about four times ( depends on the length of the loan ) averages out to about 350 total site visits per year . At each site we are looking to make sure that the money is being used to enhance the value of the property , whether it ’ s for horizontal development , vertical construction , or both . We recently started sharing some of our videos * of these site visits with investors so they can see their funds in action and the value of their collateral increasing over time .
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