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
It’s a guy who I mow for, he owns a few apartments around the area I do
Mind you they’re kinda slumlord looking lol
In that case, I don’t know what to think. If you made 45k last year, your business is probably worth 150k max. If you do most of the work, it’s probably worth less. But this guy thinks it’s worth $600k. Something is wrong. I don’t know what.
So, if he gives you 30k now and then you sell a week later for 150k, he gets 7.5k. Makes no sense at all.