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raising money

Started by pjshon
over 12 years ago
Posts: 1
Member since: Aug 2010
Discussion about
newbie hypothetical question: if i wanted to raise money (among friends) to buy a building, i would start an LLC with me as general partner. let's say i put up $1mm and was then able to raise another $1mm from other people, that would be $2mm. my question: is my purchasing power $2mm? Or would i be able to put $2mm as a downpayment to purchase, say, an $8mm building? If the latter is true, then how would the bank go about doing this? By documenting the GP's income?
Response by w67thstreet
over 12 years ago
Posts: 9003
Member since: Dec 2008

Really? How would you lend money to a newbie with 20% down and my 80%.
A) ask for GMAT scores
B) size of penis. Or penises.
C) the value of collateral.

Think hard.

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Response by w67thstreet
over 12 years ago
Posts: 9003
Member since: Dec 2008

Think harderer

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Response by w67thstreet
over 12 years ago
Posts: 9003
Member since: Dec 2008

Think hardererer

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Response by w67thstreet
over 12 years ago
Posts: 9003
Member since: Dec 2008

Think harderererer

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Response by Flutistic
over 12 years ago
Posts: 516
Member since: Apr 2007

LLCs don't have general partners. Let's start there.

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Response by yikes
over 12 years ago
Posts: 1016
Member since: Mar 2012

dont quit your day job

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