Sounds like your young friend has _zero_ ethics. 1) residential cable
connection 2) never repaying your free help even getting to 250
customers 3) cheating on his wife 4) never servicing the loan. I doubt
he is telling you the truth on a bunch of levels. Honestly walk away,
you aren't going to get your money back and he is going to screw over
you and his customers besides his wife. He's trying to get you to buy
his trouble is what it sounds like. If you want an answer to your
question, I would say $15K, because there are probably a bunch of other
ogres in the closets of this mess... I guess I shouldn't answer
questions before coffee in the morning, I sound like the biggest downer
in the world, but I hate cheaters...
On 7/16/19 1:59 AM, TJ Trout wrote:
I've been mentoring a friend of mine, he's young and rather ambitious.
He started out his 'wisp' using a residential cable connection, I've
helped him for basically free for the last three years grow his base
to 250 customers, he just last week acquired a failing wisp with 65
subs on a no money down, pay us a commission basis. I've been managing
most of his core network and providing him IPv4 and transit for a
steal of a price, I even loaned him a substantial amount of cash
recently to buy a bunch of surplus equipment. Well anyway I guess he
got caught with another women and his wife is demanding he shut down
or sell the wisp for whatever reason, he called and put this all on my
plate today.
Instead of offering to sell me the company (I don't really want it) he
tellse that he's going to try selling to a local competitor whom I
consider slightly a better personal than a child molester.
So anyway I'll try to stop rambling, what's a wisp Worth these days?
Gross revenue for a year is what I figure (max) with his all used ubnt
equipment?
The other dilemma is that he's about 3 months behind on his transit
and his note is due for repayment Monday ~$15k total.
I need a way to ensure I get paid current and I don't let him get
behind during the 'sale'. I was thinking to quit being the nice guy
and demand the past due balance + the note in full + 3 months transit
in advance so I don't get screwed during the sale process if he gets
behind again. I don't know if he can even come up with the money and
my only leverage is to turn his port down... I have a strange feeling
he may try to stall me as long as possible until the competition can
thing in transit and run off without paying the bill....
Sorry for he rant, just sick of helping people because every time I do
I end up regretting it.
TJ
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