Hardest Partnership Lesson
Kaylee McMahon
Winner 2022 Success Magazine Women of Influence with Venus and Serena Williams, winner AAOA 2022 Real Estate Philanthropist CashflowQueen ?? education network, Co-Founder of Big Sister Security
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Read this short story and start to see the real story behind our track record, grit, success, and continued consistent effort to get to 40,000 units by 2023 and create 1 Billion invested by, for, and with women by 2030.
Once upon a time, there was a newly successful female investor named Sarah.?
She had always been passionate about real estate. She had built a small portfolio of properties. One of her most valuable assets was a portfolio of two MultiFamily commercial buildings in the heart of west Texas.
One day, Sarah received an email from a woman named Emily, who introduced herself as a potential business partner. Sarah was hesitant at first, but after doing some research, she agreed to meet and discuss a potential partnership.
After a few meetings and Sarah having a great apartment deal under contract Sarah decided to form a partnership with Emily. Together, they had created a management agreement in a jointly owned apartment that they intended to rent out for profit.?
Everything seemed to be going well at first. Emily? was friendly and Claimed to have had a lot of experience in the industry. Sarah thought she had found a great partner. However, things soon took a dark turn when Emily began to plot a hostile takeover of their joint investment.
The situation eventually came to a head when Emily filed a lawsuit against their shared company, demanding a larger share of the profits and a majority say in the management of the apartment.?
Emily was only using a lawsuit to their joint business to intimidate. The suit was claiming that Sarah was not pulling her weight, was going to leave the state and never return, did not know how to run a business and that Emily deserved a larger share of the profits. The legal battle cost the partnership and limited partners (LPs) six figures in legal fees, a lost offer for purchase of the property at full price, managers quitting due to being threatened, and ended with Emily paying out a settlement to sarah just to end the case she initiated.
Sarah knew she had to act fast to protect herself and her business. She reached out to a lawyer who was referred from a trusted friend for help, and together they came up with a plan to stop Emily’s hostile takeover.
Emily didn't stop there. She also began to blackmail Sarah, threatening to reveal personal information about her if she didn't comply with her demands. Emily also attempted extortion, demanding that Sarah hand over a larger portion of the profits or face further legal action.
She also began stalking and harassing her, showing up at her meetings and home uninvited.
Sarah was also subjected to harassment and intimidation from Emily’s husband, who would constantly call and message, making demands/threatening to expose her at conferences/ events she was speaking at and threatening her if she didn't comply.
?To make matters worse, Emily also spread slanderous rumors about Sarah to their mutual friends, family, business partners and acquaintances.
Emily even turned in a false report the the sharers company ( securities and exchange commission) to intimidate her into handing over the business she was operating successfully.?
Emily sent unlabeled envelopes with partial lawsuit documents to Sarah’s guarantors in an attempt to starve her financially from doing other deals damaging her reputation after the settlement in breach of the contract.
Sarah and her counsel were able to reach a settlement with Emily , where Sarah would sell back the shares of the company she had acquired buying, renovating and leasing up the entire two-property portfolio and in exchange Emily would pay a settlement ? of the value of Sarah’s earned ownership and end her campaign of harassment.? NO ONE WON.
In the end, Sarah was left with a damaged reputation, a drained bank account, and a broken heart from the betrayal of her former partner. She realized that trust and communication are key in any partnership and she learned her lesson the hard way.
Although the settlement was not exactly what Sarah had hoped for, it was a relief to finally put the whole ordeal behind her.
Sarah learned a valuable lesson from her experience. She realized that even though it can be tempting to take on a partner, it's important to do your due diligence and be careful who you trust.
“Trust but verify” is a phrase often used to describe what to do when taking on a new business partner or marriage.?
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However in school they don’t teach you how to do so.
Let’s get real in this story with fact finding:
On the backend of the settlement Sarah came to find out what she should have found upfront:
1- Emily’s husband who signed on their loan (who kept under 20% ownership not to be Credit-checked) had 7 aliases and was indeed following her.
2-She found out that Emily had a fake credit repair business which took $100,000++ from the elderly and bullied them into silence that stayed with them till death. Sarah had to speak to their kids to confirm.?
3-Emily also abused her daughter and hid it on the dark web as to not be seen in the public eye.?
4- Emily’s profile showed “the dark triad” where she was
All of this info is not google-able and now Sarah knows how to actually verify the abuse another criminal thinks they have gotten away with with others before.
A company was created to prevent women from getting bullied this same way.?
The data or past crimes are found then brought to the abuser for accountability purposes.?
The truth motivates the abuser to STOP 90% of the time…. Except in next weeks story…
The greedy attorney.
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We have been through this and much more to have success.
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