Okay, asking for help because I don't know anything about investing. I'm hoping one of you guys can shed some light.
I have the opportunity to invest into a Crossfit business on Feb. 1st. My first question is, would this be a good business to get into? In my opinion it seems like it is, these places are popping up everywhere in my town. Not sure, I still have some time to do some more research.
Okay, with that said the guy is asking for $17,000.00 by Feb. 1st. He says he'll be able to offer 30% rate of return which is $5,100.00. That amount will be paid back within a year. I didn't meet with him yet, I haven't had time. He wants to meet with me to show me projections and how other businesses are doing in that area.
I will meet with him soon, but I need questions to ask him. Could you guys help me with that. I have a few that I can think of right off the back.
With an investment do you not get your full investment back? Where's the rest of my $17,000.00? Do I own a percentage of the company?
Please help, any help would be appreciated, I don't have a finance background but I see that you guys do this kind of thing everyday. I would like to go to him with some good questions.
Any help would be greatly appreciated!
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To remove first post, remove entire topic.
Okay, asking for help because I don't know anything about investing. I'm hoping one of you guys can shed some light.
I have the opportunity to invest into a Crossfit business on Feb. 1st. My first question is, would this be a good business to get into? In my opinion it seems like it is, these places are popping up everywhere in my town. Not sure, I still have some time to do some more research.
Okay, with that said the guy is asking for $17,000.00 by Feb. 1st. He says he'll be able to offer 30% rate of return which is $5,100.00. That amount will be paid back within a year. I didn't meet with him yet, I haven't had time. He wants to meet with me to show me projections and how other businesses are doing in that area.
I will meet with him soon, but I need questions to ask him. Could you guys help me with that. I have a few that I can think of right off the back.
With an investment do you not get your full investment back? Where's the rest of my $17,000.00? Do I own a percentage of the company?
Please help, any help would be appreciated, I don't have a finance background but I see that you guys do this kind of thing everyday. I would like to go to him with some good questions.
With an investment do you not get your full investment back? Where's the rest of my $17,000.00? Do I own a percentage of the company?
The guy is trying to cheat you. You obviously are an easy mark, judging by these questions of yours. If it were legit, he wouldn't be giving you time deadlines, and he definitely wouldn't be guaranteeing 30%. This is a classic Ponzi scam.
Tell him to give you a copy of the contract so your lawyer can look it over, and you will never hear from him again.
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Quote Originally Posted by Izzy_Action:
With an investment do you not get your full investment back? Where's the rest of my $17,000.00? Do I own a percentage of the company?
The guy is trying to cheat you. You obviously are an easy mark, judging by these questions of yours. If it were legit, he wouldn't be giving you time deadlines, and he definitely wouldn't be guaranteeing 30%. This is a classic Ponzi scam.
Tell him to give you a copy of the contract so your lawyer can look it over, and you will never hear from him again.
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