Heres my situation:
I have been planning and developing a legitimate web based application that targets a very large niche market.
I raised enough money on other ventures to finance it myself. However, unexpected medical bills drained me.
As of today, I am preproduction for the applications programming. I have a single investor looking to become a partner. We're doing all the talks now. However, I'm trying to count my options here. Due to the small investment needed <$20k (for programming and initial marketing), i want to look into the possibility of grants, loans etc. The downside: I'm 24. I'm only co-signed on my mortgage (since '06) and don't have very well established good credit.
the investor seems great, but after his capital is paid back, he wants 50% of everything from then on. I respect that idea and understand how investors work. Except this project is expected to have returns in 6 months or less and be highly profitable within the next year or so.
What else can I do in my position other than give up 50% of my profits, on such a small amount.
Can anyone help? Thanks!
**This is NOT adult based ventures.
Johnny York
Divisional Media.
I have been planning and developing a legitimate web based application that targets a very large niche market.
I raised enough money on other ventures to finance it myself. However, unexpected medical bills drained me.
As of today, I am preproduction for the applications programming. I have a single investor looking to become a partner. We're doing all the talks now. However, I'm trying to count my options here. Due to the small investment needed <$20k (for programming and initial marketing), i want to look into the possibility of grants, loans etc. The downside: I'm 24. I'm only co-signed on my mortgage (since '06) and don't have very well established good credit.
the investor seems great, but after his capital is paid back, he wants 50% of everything from then on. I respect that idea and understand how investors work. Except this project is expected to have returns in 6 months or less and be highly profitable within the next year or so.
What else can I do in my position other than give up 50% of my profits, on such a small amount.
Can anyone help? Thanks!
**This is NOT adult based ventures.
Johnny York
Divisional Media.
