# Entrepreneur of the Week # ** Post number 6 - everything got complicated here… ** In 2011 I bought the part…

# Initiated week

# ** Post number 6 - everything got complicated here… **

In 2011 I bought the part of my partner at WebNews (a software company I own to this day).

Terms and milestones were paid (within six months to transfer all the money to him) and now all I have left is to sell an apartment (which I planned to sell anyway), take my profits from the deal and pass on what my partner deserves. It was all planned as part of my path to my ultimate goal.

I sold the apartment quickly. The first payment of course went to the bank to cover the mortgage and now I waited for the other payments to complete the 2 transactions.

Here everything started to get complicated.

A few days after signing the contract, the buyer called me and told me that her appraiser did not approve the apartment. I didn't understand what she was talking about since I had a mortgage and a mortgage (already covered). She was very pressured and asked to cancel the contract.

From here it passed to lawyers, she of course did not agree to pay me the fine of 10% of the purchase value (according to the contract). In addition, she did not agree that another buyer be found together. She wanted 10% compensation on the grounds that there were construction irregularities in the apartment.

She quickly filed a lawsuit against me and it went to courts and lawyers.

I don't know which of you used to be in court, but it's not a pleasant experience (even with justice in your hand at 100%). This was my first time in court.

First, pay a lawyer to represent you. That's before he even wrote anything. It cost me 100,000 ₪ that I didn't have.

Suddenly I find myself in a deep and serious problem. I have no spare cash, I owe my partner a few hundred thousand shekels, get stuck with the apartment and do not have enough time to sell another apartment, whatever it is that will disrupt all the plans on the way to the goal.

I decided to treat it as background noise. I've always been told that you have to suffer for success. I decided in my head that it was my suffering and I would absorb it because success was just around the corner. I really believed that.

I didn't sleep for a few days. All I did was think about how I get out of the distress I was in.

אז מה עושים?

1. ** Transparency **. I took my wife for a hard talk and told her that in another month we had no money for a cottage.

2. ** I immediately put a renter into the apartment **. The tenant paid me 4,000 ₪ every month and I remind you that the mortgage is zero (I closed it with the money already paid on the apartment).

3. ** WebNews ** - I've made Excel with 100 clients I've worked with before. In two days I called everyone and closed transactions over NIS million.

4. ** Bank ** - The most important thing is the end. Still have to pay my partner and I have no money. I went to my bank and didn't leave until I got a 500,000 ₪ solo loan (and even a good interest).

It wasn't easy, even very difficult.

A lot of my "threats" to the bank.

I was actually with my back to the wall.

I have nothing to lose at that point, but I haven't broken.

In fact at that point I discovered how much power I had.

Nothing breaks me or breaks me.

The money to the partner was paid and there was a cottage on the table.

everything worked out.

Regarding the apartment - after 4 years it was decided that the buyer would pay me the balance of the contract, in addition to me paid 350,000 ₪ compensation and all the rent (192,000 ₪) paid to me remained with me.

It all ended up great, but I wouldn't repeat it another good time maybe yes… ..

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