coolmax wrote:The last Angel Investor I talked to for 65 Million dollars wanted me to buy 30 million dollars worth or Real Estate all over the world for Manufacturing & Retail spaces.
I didn't have a problem with that, but I was not going to put out 100 Thousand dollars of my own money for appraisals.
I asked for up front money for that purpose only, the Real Estate market is unstable now so they did not want to do that.
I wanted the Investor to be committed to the project with there funds & not spend my funds.
What kind of investor would invest 65M but turn away by 100K spending?
You are right, you shouldn't spend your own money.
I just feel funny that your investors would ask you to put out your money out front into this deal. If they ask you for some collaterals, like pledge your house, I would understand. At least, that's something they can't transfer illegally. If they want to take you for a ride too far out, I would just say "No thank you!"
Sometime, merely confirm phone number, address... isn't enough, especially when hundreds of thousand or millions are involved.
Again, I must point out that I don't understand why buying foreign properties became part of your invention business. I feel that has complicated the deal and maybe you are veering away from your track to success.[/b]