Don’t exaggerate to investors.

There are a ton of people trying to create startups and raise money from investors. Don’t let your desire blind you from what you know is right.

What do I mean you ask?

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I mean, it’s not all fun and games working with investors. A good percentage of them will sell you down the river so fast your head will spin.

There are some good investors too. There are good and bad entrepreneurs. Some entrepreneurs are true to their blueprint. Others blow through money too fast and are just in it for the glory. They have no substance.

You have to put that work in and make something happen before you celebrate.

Back to investors though because this post is a warning for entrepreneurs. Accredited investors have more money than you and I’ll write posts for investors later.

If your competition gets their hooks into a weak investor and your paperwork isn’t right, it can be a wrap. I’m not talking about a Hollywood wrap either. I’m talking about a nightmare wrap.

Lawsuit, prison, etc.

This goes for people just starting out and people trying to raise funds to keep a large startup and company going.

Before we go any further. A few disclaimers. I’m not a lawyer. Use this information at your own risk. Results are not guaranteed. Please add your own research to any ideas you discover here. Talk to an attorney if you have specific questions.

I have never done a deal with investors. I have done a lot of marketing for companies. Also, I have done quite a bit of reading and following of entrepreneurs.

I have turned down several offers throughout the years, even when I was flat broke. The reason is because I have so much experience following companies and watching them implode. I have seen companies that grossed tens of millions of dollars and the partners ended up spending millions on lawyers fighting over the dumbest things you can imagine.

People fall in love with their ideas to the point that they will do anything to make them a reality.

Double check this information with your lawyer but here goes.

Do not lie about how much you personally have in the bank.

Do not lie about the traction of your website, app, company, etc.

Do not lie about the amount of money you have raised.

Do not lie about anything.

Do not think your investor is your friend.

Make sure you have a plan just in case everyone starts fighting and can’t agree on anything.

Disclose everything. For example, I have bad credit. I would disclose that in writing. I would disclose every other embarrassing and negative aspect about myself too so there are no surprises.

Disclose if you have a criminal record.

Investors may give you enough rope to hang yourself so later they can have leverage over you if need be.

A lot of times people think the investor is so cool at the beginning. Then as time goes on they hate each others guts. Her or his entire family may hate you.

If your investors financial situation changes, they may turn sour on your project.

I have seen situations where investors are called on to sabotage you. Competition knows an investor can be a back door into a company. It happens all the time.

I don’t mean to be negative but I’m keeping it real.

Try to make your life and company as sustainable as possible. Meaning, you don’t need anyone’s money. That way you can possibly create a deal where you sell a portion of your company and keep 100% control.

That’s the only deal I would do.

I have told several people in the past. I’ll provide marketing services for a fee. I don’t always need a percentage.

As far as any company where I’m at the helm, I have to control it fully. I’m not going to concern myself with internal fights.

I’m not going to argue with investors or anyone about what kind of drapes we should hang in the office. I’m not saying I won’t listen to ideas. I’m saying someone has to have the final word. If not by the time everyone is done fighting, the competition will eat your lunch.

Everything will be disclosed in writing. Everything will be transparent. There will be no shared control though. I have seen too much sabotage in my life. I’m not going to get into it here. Use your imagination.

If you have people in your life that you can trust with your company, I say good for you. I don’t.

Regardless, disclose everything and don’t fib. Try and build yourself up as much as possible without the help of an investor. Most of them only want you when you don’t need them anyway.

I’m not trying to bring down your vibe. I’m saying. Once you start spending an investors money, you better have the foundation right because if you can’t pay the money back, in many cases, you’re going under a microscope. If they find anything, you can end up in hot water.

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One of my dreams is to purchase a full floor luxury condo in NYC.

First, I’d like to disclose I’m a licensed real estate broker in New York. Use this information at your own risk.

OK, let’s go.

There are a few reasons I would like to purchase a full floor condo. Everyone has their own preference. Some people would rather a townhouse, garden apartment, etc. There is no right or wrong, it’s all about whatever makes you happen in my opinion.

With that being said, I like full floor condos and here is why.

1. Doorman. I like the security of having a door person. They may not jump in front of a bullet for you. Just kidding. But seriously, they should add some level of security.

2. Views. I like big open views. Can be city view, Hudson River view, East River view and Central Park view.

3. Privacy. When you have a full floor condo, for the most part, you get off the elevator and the floor is yours.

4. Garage. Indoor garage parking is nice. Not all buildings have it. Most don’t.

5. Noise. The last reason I’m going to mention and don’t hold me to this, is noise.

I haven’t really spent a lot of time in a high floor condo lately. I’ve spent some time, just not a long amount of time. I assume the higher you are the less noise you hear.

Do your own research. Every situation is different. Do not hold me to this. I’m not sure what floor you would have to live on to hear a reduction in noise.

Some of the new condos are very tall. As you get to the top is it more quite than living on a lower floor?

I would think yes but thorough research would have to be done to know for sure.

I recommend spending as much time as possible in a condo before purchase.

Also, you can walk around the condo to see if there are any new buildings going up that may block your views. Of course, you can do all the research in the world and I would still not guarantee your views will stand forever.

I have seen so many new buildings block older buildings views at this point. I’m not sure if you can ever be totally safe from it. Partial block, more than partial, almost full block and full blocking of views.

I can write a book about this topic but I’m not right now. I’m going it cut it here.

Mark Pine licensed real estate broker in New York.

Use this information at your own risk.

Thank you very much for reading and have a great day.