File a UCC on all his junk right now. Better than nothing. At least if he sells you have a lien that has to be settled.
Sent from my iPhone > On Jul 16, 2019, at 2:59 AM, TJ Trout <t...@voltbb.com> 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 > -- > AF mailing list > AF@af.afmug.com > http://af.afmug.com/mailman/listinfo/af_af.afmug.com -- AF mailing list AF@af.afmug.com http://af.afmug.com/mailman/listinfo/af_af.afmug.com
