Top two things you wish you knew

[Paul Vincent]

Hello, pocket growers: What are two things you wish you knew when getting into note purchasing that you didn't know when you first dove in? Thanks in advance!

[Patrick Desjardins]

That the 80/20 rule is a real thing. We are surrounded by absolute incompetence. Most of the companies we deal with have high turnover and most of the people we deal with are mediocre at best at their job. Most of them couldn't care less about your success, either.

It sounds harsh and kind of gloomy but it's what I've observed in the past few years.

Never trust that paperwork will be transferred correctly, never trust that your servicer will make the call, never trust that your attorney will have your foreclosure published, never trust that your contractor is going to do their job, never trust that the county is going to account for your payment right. You have to micro-manage every little details in every step of the process and it is extremely frustrating and annoying.