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Had an offer for someone to invest $30,000 for a return of 5% (alien.top)

submitted 2 years ago by Nivsy_21@alien.top to c/entrepreneur@indiehackers.space

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Someone wanted to invest 30k into my landscape company for 5% return, now I’m not the smartest guy out there and someone is free to correct me if I’m wrong but shouldn’t that 5% be until the loan is paid off and not until I give the company up

Again I’m very new to this so I could be looking at this horribly wrong

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[–] TO_GOF@alien.top 1 points 2 years ago (1 children)

I think he is better served by hiring his own lawyer to advise him if he is given a contract drawn up the investor.

[–] RawDogRandom17@alien.top 1 points 2 years ago (1 children)

It would cost over $2k to have a lawyer review a $30k equity deal

[–] behrific@alien.top 1 points 2 years ago

I’m not one to get an attorney over most business matters, but selling equity is one that calls for an attorney 100% of the time.