this post was submitted on 01 Nov 2023

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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 [email protected] to c/[email protected]

11 comments fedilink hide all child comments

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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[–] [email protected] 12 points 1 year ago

Not too good to be true, but too good to be low risk.

15% ROI is definitely possible. Him screwing up and ending up bankrupt is also possible.

The red flag for me is "I know nothing about business" - you can't judge the risks. You should absolutely not invest money you can't afford to lose into risky stuff like this. In particular, taking out a loan just to loan the money to your friend would be a really stupid idea, and if he asked you to do that, he either is stupid, reckless, or doesn't care if you get hurt.

I'd only consider loaning my own money with which I can afford taking the risk, and only if he could plausibly explain what he's doing, and I felt like I can understand it and be confident that he can pull it off. I'd consider it a high risk investment on par with cryptocurrencies.

Given that you don't seem to fully understand and there are other red flags: stay away.

[–] [email protected] 5 points 1 year ago

Unless this is drugs, with the potential of you going to prison, the return is too high. Don’t do this, drugs or no.

[–] [email protected] 3 points 1 year ago* (last edited 1 year ago)

Ex coworker
Seemingly Great roi.

That smells like a pyramid scheme from miles away.

[–] [email protected] 2 points 1 year ago

85% chance it's an MLM, 14.9% it's another dumb business idea and you won't see that money again regardless.

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago)

his business don’t depend on number of customer available

Clarify this with them. If the business does not depend on customers and selling a product/service to them, then it's most likely a pyramid scheme/MLM. If he continues to be vague about what exactly the business is, that's another red flag. A legit business shouldn't be hard to explain, especially to people they want to ask for investment from.

[–] [email protected] 1 points 1 year ago

You're not a bank, the details don't matter. Don't even bother with getting anything in writing from someone who is over leveraged, because you're already never getting that money back in any court regardless since the other creditors come first.

[–] [email protected] 1 points 1 year ago

The risk is that the business fails. There are no "sure thing" investments, especially at higher returns.

Ask him how his business can fail. If he doesn't give you a variety of possibilities and ways he's hoping to prevent them, I'd be very worried that he's overconfident and not prepared for difficulties.

[–] [email protected] 1 points 1 year ago

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.

[–] [email protected] 0 points 10 months ago (1 children)

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[–] [email protected] 1 points 10 months ago

i dont know, but if you are scammed, don't get scam again.