ASK HN: Need help with determining equity split for seed funding

[tightflks]

So this is where I stand. I have an idea for a mobile app in the property management industry. I have it spec'd out and potential beta customers. The only thing holding me back is getting it built. A property management company has offered to invest (30k) to get the app built.

I am trying to determine what a fair equity split would be. In my head I am thinking 80/20 but I believe he is leaning towards the 60/40 range.

What do you guys think?

[gus_massa]

YCombinator deal is aproximatly 20K for 5% equity, perhaps you are giving too much.

Exact numbers from: http://ycombinator.com/apply.html

  We usually invest $11,000 + $3000n, where n is 
  the number of participating founders, up to 3 
  (i.e. 2 founders get $17,000, 3 or more get $20,000),
  in return for between 2% and 10% of the company.
  The average is 7%.

[tightflks → gus_massa]

so one thing i have to take into account is i cant get into a ycombinator program

[mparlane]

How much do you expect it to make annually ? If it's millions then 30k doesn't mean much. If it's 5k then 30k means a lot.

[tightflks]

I expect to price it 100 bucks a month and there 1000s of potential customers.