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A friend offer me a investment opportunity at 15% annually, is it too good to be true ? (lemmy.world)

submitted 1 year ago* (last edited 1 year ago) by hahattpro@lemmy.world to c/asklemmy@lemmy.world

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He was my coworker. I know him at work for years. It is unlikely he take money and run away.

He ask me a loan to scale up his business, promised to pay 15% annually.

His work is in manufactures industry, maybe B2B. He said he his business don't depend on number of customer available. I don't know. I am a salary man. I know nothing about business and investment.

I haven't ask him into the detail yet. I know nothing about this type of business. He seem confident, but I feel the 15% is so unlikely that will come with (hidden) risk. Maybe my friend is also a victim of another scam, or he just overconfident.

People of Lemmy, I ask you, those who are investor and business owner: is >= 15% annually ROI possible ?

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[–] bjoern_tantau@swg-empire.de 32 points 1 year ago (9 children)

Get it in writing.

But yeah, it's sketchy as fuck. If he could guarantee that ROI he could just go to a bank.

If you can afford to lose the money and maybe tolerate a lengthy trial go for it. Personally I couldn't.

[–] hahattpro@lemmy.world 12 points 1 year ago (8 children)

The reason he can't go to the bank because he have take enough loan and can't take anymore. He said I can make money by apply for loan against property, and loan to him and pocket the different.

It seem that he want to take more loan than the bank want to give him.

Yeah it seem risky as fuck. So i am asking.

[–] cabbagee@sopuli.xyz 16 points 1 year ago

If he can't pay back the bank loans, how will he be able to pay back yours?

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