I know this guy who got a contract installing cable, phone, and internet as a contractor. He is going to start with 5 techs, the company will make 20%/tech on however much they invoice. A Tech avgs 00/week x 5 techs = 00/wk. The company will clear 00, I will receive 15% of this (0/week).
I will buy into the company w/,000.00 for 15%, in 3-6months we would expect to have 10 techs, and next year we would double that, so my income would continue to go up.
The ,000 will go towards start up cost (insurance, tools, ladders, cameras, 2 weeks of pay for techs, etc)
Heres the catch, I just met this guy, but I have been to his home, and gone to a meeting with him to discuss the final details with the company he will be contracting for. So I know the work is there, I even went with him when he opened his business bank account. He’s also shown me his drivers license.
Does this sound like a good investment?
A contract will be wrote up by a lawyer and signed, he even said I can put a lien on his house.
Who do we need to sign the contract infront of, any notary ?