What happens when 10 Ohio women invest together to build wealth?
- Own a shared space or asset with tribe
Hey everybody, Julian McClurkin, your Chief Storyteller with Tribevest and today we're taking Stories of Tribevesting to the streets. We're going to be going inside of this house and talking to Sandra Moody and her tribe. Come on in.
You can't tell if you're on camera because you don't have smellovision but it smells delicious in here. I don't know what we got going on. I know cornbread for sure is in the oven. Is this a place that you all commonly meet?
This is the first time we're actually at a home. So typically we have been meeting at Sandra Moody-Greshams business.
What is the name of your tribe?
It is OWoW. Ohio Women of Wealth. Yes, right. OH-
Ohio women of wealth. That’s beautiful. I love that.
Women of Wealth is what I had. And then working with these ladies. We were just brainstorming if that made sense. And somebody said well, Ohio Oh h and then you know we got to the acronym. OWoW.
I think it's aspirational. We're not there yet. But it's what we aspire to be right.
Right now y’all are just O. We’re women!
You all have from what I can tell this little bit of time with you have a great relationship.
Typically group family members or friends don't want to jointly come together and I mean, that's real. But how do we create an environment that makes it easy to do that because a lot of it is around trust. It's around, you know, commitment. And we did take the time to create guidelines and policies and agreement that everybody's contribution fit in to create that. So we you know, we say and we want to do this formally, but we also be being mindful of you know, life happens. People's minds change, but we don't want to do anything that friendships and relationships are impaired. And I think the platform that Tribevest has created allows you to do that because it's so transparent, and you can see everything that folks are doing or not doing. And so that really made it easier for us to collectively come together.
We established some structure and I would think that us as a group, we all knew that we were about business. And I think that was our foundation because we as women, we're handling our business.
We put together an operating agreement that everybody contributed to and was in agreement with and so there's not a lot of gray area. I think we did that so that we wouldn't have those kinds of things that would disrupt, you know, other connections that we have in the group.
How many of you is this your first time in an investment group? Everybody okay, what made you comfortable with this since you've done it before? What made you comfortable with Tribevest?
Since you've already done an investment club, we're gonna pass the transparency of the tools that we're using. The other group that I'm in, there's no transparency and in fact, there's been some risks and it's led to some some hard times for some folks and some litigation. So I think the first thing that we all had was common goals. Now, each of us we're about our business, but we also are interested in making money. I have a young child, I want to I want to make sure I'm leaving him better off than I am today. The transparency of the tool allows us to really see who's committed. And I think your process by requiring the operating agreement to be done and LLC I mean, there was business processes that were already in place that were not in place in my other group.
We didn't just look at the tool and say, Oh, this looks like a great thing. We took some time and went through the Attorney General to make sure you know, what would have been put out and then we asked Rachel about those questions as well. And she if she didn't have the answer, she went to the next person until we got complete answers. And so we all decided we weren't making moves until we got those complete answers. And so yeah, I think you all did a great job with the transparency piece.
You still have the original 10 members of your group here. Awesome. Because we have a mortgage broker we have insurance. What type of investments are you all looking into kind of investing in as a solely real estate right now?
I think we are exploring our options. I don't think we've nailed down. Definitely what you know, what we will ultimately invest in. So I think we're open to options. We've certainly been looking at some of the stories that Tribevest has put out there and that's given us some ideas, but I think we're just focused on building our fun now. And then once we get to a certain point, then we'll determine what what you know, options will take advantage of.
What do you see for the future of OWow? Do you think that this is the only tribe that you would start or do you see like a while to you know, what, what do we see as a future?
I mean, we've talked about a nonprofit organization that we could teach other children or young women how to begin to invest and learn how to be financially independent early, you know, not waiting. You know, there's so I think it's unlimited. I mean, one of the important goals we had is to get to know each other better. Right? Many are maybe the common link here, but you know, many people have common personalities and you know, we kind of mesh and we try to build the long term relationships because you know, friends, investing with friends and enjoying each other and growing and prospering together is the goal long term. But ultimately, you know, we want to do some large opportunities that create real significant wealth for us individually, but corporately, and then how do we expand that to provide benefits to the community.
Thank you so much for your time, ladies. I know you got to get to your meeting. One thing about your group OWoW that I really admire is you kind of hit on all the sectors that we built this platform on. You're not just investing with family, you're invested with friends, like I heard, you know, so many people are not just related, but you also got friendships and everything and you guys are all building on that. So you know, I wish you all the best. I can't wait to see what's in the future for a while. And thank you so much for having me.
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