Throw away account for obvious reasons, sorry in advance for poor formatting.
I've been in a lucrative business for years now that is just starting to be legalized in many states across the country. I live in Washington and so does my friend, we'll call him J. J's family has a farm in Oregon, couple hours drive from me. I already am owed 5k, but that's not related to business, just noteworthy. J called me today and in short, asked me to invest 10k into the farm. The 10k is for nutrients. I would have a 5% stake which I'm sure could be negotiated.
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already owed 5k which I haven't seen in almost a year.
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the farm isn't producing yet and isn't completely licensed.
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I have no idea if my 5% would be just made up as this is a lucrative business and I'm really not sure how Oregon works, basically I could be getting played.
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the evaluation would put the business at 200k worth, but it's definitely not.
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in the event I never see any money back, I feel as though I'd have no legal recourse even though J insists everything would be legal and have proper paperwork.
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licenses are only good for 2 years, so after that they could just cut me out.
I've been looking for ways to invest some cash, but this seems too high risk for the potential high reward. My gut tells me no, so I'm leaning that way. Just wanted to see if anyone could offer me some advice.
Submitted May 26, 2017 at 05:38PM by dedshotboi http://ift.tt/2qXsHSO
