It may be because I’m not from Charlotte – then again very few people are – but GoodMortgage was another local success story I hadn’t heard much about until recently.  Fortunately, I met Keith Luedeman at a Charlotte Angel Fund meeting and was able to grab coffee with some soon thereafter to learn more about Keith and GoodMortgage.

Our discussion was far ranging as we talked about the early days of GoodMortgage all the way to how he’s gotten involved in the startup and investor scene in Charlotte over the last couple of months.  It was a great discussion and you’ll soon learn how lucky Charlotte is to have Keith as part of its investor and startup scene.  Listen in as we discuss the following and more:

You started an internet-based mortgage company in 1998.  What lead you to believe it was a good idea?

Talk about the decision to start an internet business in 1998?  There wasn’t much competition but there also had been people who had laid down the path about how to create businesses on the internet.

How much more difficult is it now given how much competition has evolved in the online lending space and how did they evolve as a business over the years?

GoodMortgage had 5 employees several months into business yet they never raised money.  How did they do it and how were they able to continue to do it without raising money?

If you had it to do over again – knowing it could have been a land grab at that point – would you?

Keith didn’t raise money yet he talks every day to startups who are looking to raise money to scale and grow.  How does he talk to them about scale and raising capital knowing he was very successful in not taking investor money?

Did Keith ever wake up in 2010 and say, shoot I should have sold four years ago?

What was the exit like for Keith?  Did he expect to run the business for 18 years?

Next week, we bring Keith back to talk about the Charlotte startup and investor scene.  At the time of this interview, Keith had been gone from Good Mortgage for two months and getting his perspective of where things stand 2 months into his learning was really cool.  Plus, Keith built a great internet business in Charlotte and learned a thing or two along the way.  Getting his insight into where the Fintech scene is today was a great little discussion.

William Bissett is an Investment Advisor Representative with Secrest Blakey & Associates, a Registered Investment Adviser.  Opinions expressed on this program do not necessarily reflect those of Secrest Blakey & Associates. The topics discussed and opinions given are not intended to address the specific needs of any listener. 
Secrest Blakey & Associates does not offer legal or tax advice, listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance. 
Investments described herein may be speculative and may involve a substantial risk of loss. Interests may be offered only to persons who qualify as accredited investors under the Securities Act, and a Qualified Purchaser as defined in Section 2(a)(51)(A) under the Company Act or an eligible employee of the management company. There generally is no public market for the Interests.  Prospective investors should particularly note that many factors affect performance, including changes in market conditions and interest rates, and other economic, political or financial developments. Past performance is not, and should not be construed as, indicative of future results.

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