Originally Posted by
Jayjami
Here is the best investment advice ever: If someone asks you to invest in a new restaurant, run away as fast as you can.
Yeah. When you hear all the riches to rags stories of professional athletes who lost it all, it seems there is always investments in restaurants involved. I am curious though, if your restaurant actually does well is the upside even that high? I have no clue. I know a ton of restaurants fail, but I dunno if the ones that do well even give you a high upside on investment.
When I was single and had pretty much zero expenses and was doing well in the online poker boom and liquid, a friend of my dad's was opening a bar and tried to get me to invest $40k into it. I seriously thought about it and passed and the bar went belly up after a couple years and the guy went broke.
Of course I donked away most of that money anyways gambling, so probably wouldn't have affected my life trajectory much either way.