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

submitted 11 months 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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[–] Responsible_Goat9170@alien.top 1 points 11 months ago (1 children)

Just to piggy back on your answer with another question. If he does sell 5% for 30k he has no obligation to buy it back, correct?

[–] TO_GOF@alien.top 1 points 11 months ago (1 children)

Usually, yes.

However there could be contingencies written into a contract which could require him to buy the stake back. That’s why anyone selling a stake in their business needs to have a lawyer review any contract they are presented with.

[–] Responsible_Goat9170@alien.top 1 points 11 months ago

That's what I was thinking. I had it as part of my question, but figured I'd keep it simple.

Thanks for the answer!