I have a investor/guru but.

[Garrett Lutz]

As he is willing to teach me about running a business for free along with giving me 0% interest on loans, but he's also asking for 12% on the profits I make this sounds like a horrible deal to me what dose every think?

[Chris Coleman]

@Garrett Lutz start off by asking four questions...

First, is he trustworthy?  Can you trust him to be committed to you and your success, and honor his end of the deal?

Second, is he competent?  Is he knowledgeable and experienced in the business?  Has he been where you want to go and done what you want to do?  Does he have the track record and relationships to evidence his success? 

Third, is he capable of teaching/mentoring?  That is, he may be awesome at running, growing, and succeeding in his own business, but can he successfully teach and mentor someone else (i.e., you) to do the same?

Four, are you committed?  Your success will not happen overnight and it will not be easy.  Are you committed to staying the course and doing what it takes to steadily learn, grow, and build your business?

If you can confidently answer "yes" to these four questions, then 12% is a great deal for you.  Just make sure that you both agree, and put it in writing, when does that 12% stop.  Is he just teaching you the business for a certain amount of time and money, or are you becoming business partners for the duration?  Therefore, you need to know will he continue to get 12% of your profits forever, or is it just for the first certain number of deals, up to a specific amount of money, for a specific length of time, whatever?  Spell it out and be specific.

Whatever you decide, I hope for great success for you.