My wife recently admitted she still doesn’t know what I do exactly—after many years of marriage and buying Notes since 2011. I had to laugh because I know we run kind of an odd business, buying mortgage Notes through a Note buyer website. But the business has served me, my family, my team, their families, and our investors very well.
Truth is, though, the Note buyer website isn’t the key ingredient to our momentum. It’s important, no doubt because it’s essentially our storefront. But there’s one part of the mortgage Note buying machine that’s more important: the phone.
For now, until we grow out of this, I personally vet each investment opportunity. We take in a healthy number of leads through our Note buyer website, but the magic happens when I get the prospective seller on the phone and we have a conversation.
Everything starts with a human-to-human conversation.
Deborah Tannen, a professor of linguistics at Georgetown University in Washington, D.C., has written or edited more than 15 books about communication. In Talking from 9 to 5 (Avon Books, 1995), she writes: “Judgments about confidence can be inferred only from the way people present themselves, and much of that presentation is in the form of talk.”
She was referring to how people communicate in a corporate setting, but I’ve found it to be true in our business as well—as seller’s confidence in his/her Note, and so many other things, are learned when we’re talking on the phone. And it all happens in a matter of minutes.
Over the years, I’ve also learned that when a prospective seller is not interested in getting on the phone, it isn’t a deal for us.
Having a Note buyer website is important. Mostly, because it prompts me to pick up the phone.
Check out our Note Education resources section to learn more about the note buying business. Or, if you are looking for someone to buy your note, submit your info and we will send you a top-dollar offer.