Every business needs a revenue stream in order to succeed. In real estate, revenues come from rent, and when tenants stop paying their rent and start using regulations in their favor to get away with it, a real estate business can be put in jeopardy. Luckily, there are professionals like Cindy Lee Wilson who can take care of these situations and prevent them from getting ugly.

 

Cindy Lee Wilson is a seasoned professional with over 25 years of expertise in the commercial and residential collections industry. Cindy specializes in providing superior AR management services, collection services, and asset/liability reports to a select clientele. She has worked with notable property owners and management companies and is revealing the secrets to her craft in this exciting episode of Decode REI.

 

Tune in to learn everything you need to know about debt collections and AR in real estate.

 

[00:00 - 07:56 ] Cindy and Lydia's Encounter: From Vegas to Asset & Liability Research

• How Cindy helps people help themselves with commercial asset and liability research

• Helping clients set up AR departments, manage properties, and collect debts

• Cindy is not a “yes person” and will tell it like it is

• Working with collectors to start accounts within the hour

 

[07:57 - 15:40 ] Conflict Resolution: Attorneys, Tenants, and the Power of Time

• Why tenants transfer their assets to other people's names

• What helps clients to get a sense of stress relief

•Knowing that everything being done is legal

• In some states, there are laws that protect tenants

 

[15:41 - 23:49 ] Cindy's Story: Serving Clients for 23 Years 

• Successful collections are a hundred percent psychology

• You need to go where the money is and contract with local attorneys

• Cindy has been in the business for almost 30 years

 

[23:50 - 31:44 ] Playing the Debt Game

• Placing debtors with two agencies can be effective in getting them to the table

• Bankruptcies can stop collections and legal proceedings, so it’s good to be aware of them

• Cindy emphasizes that it's not about the dollar amount but proving a point

 

[31:45 - 39:53 ] Cindy Lee Wilson: Master of Money Collections and Playing the Game

• Cindy’s unique approach to debt collection involves a bit of humor and fun

• How Cindy offers advice on how to handle debt collection issues

• Money collections don't get better with age, and it's important to act quickly

 

[39:54 - 41:10 ] Closing Segment

• Don’t say "I'm sorry" when talking to debtors

• Why you should use phrases like "I understand.”

 

 

Key Quotes:

 

"Everything happens for a reason, and whether I'm gambling or I'm meeting people, I feel drawn to certain people, certain areas. And those have been some of my best contacts and best connections.” - Cindy Lee Wilson

 

"Successful collections are a hundred percent psychology. Getting them to do what you want them to do without them knowing that you did it, that's the bottom line." - Cindy Lee Wilson

 

"It's not the dollar amount. It's proving a point. It's about character, not being in trouble." - Cindy Lee Wilson

 

If you want to get in contact with Cindy Lee Wilson, learn more about her business, and make her a part of your network, make sure to visit her LinkedIn profile. 

 

https://www.linkedin.com/in/cindyleewilson/ 

 

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