Mark Kocher got burned by two loan agreements and learned to read every contract carefully. The humiliation hurt worse than the money lost. Now he scrutinizes fine print obsessively, which annoys his wife Patty, but he won't stop.
No matter how smart you think you are, no matter how many times you've done it, how many deals, how your reputation is, you can get taken advantage of. You've got to read the fine print. And I'm just focusing on loan documents, but obviously any contract. But those loan— those two loan deals, they were heartbreakers. The money was not as painful as the embarrassment. It was brutal. I learned so much. Now I read the fine print more and more. Patty kind of hates it because I'm very skeptical. Like, I'm always— I presume first we're getting ripped off. And then I look to prove or not to be convinced when I ask it. Well, I'm sorry, I don't think that's a bad— you know, that's great. Everybody's like, oh, this is such a great deal, I'll look for a problem, because they've already talked themselves into the deal.
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