I have a friend who makes a decent living in Real Estate. He says he makes the best money from the three D's. Death, Divorce, & Debt. It sounds like he is staring down the barrel of two of those. First that means since hsi wife demands he ditch it it is worth less. You don't want it so it isn't worth anything to you. If you don't cover his area you aren't going to get any fallout customers. I think Chuck's advice to file a UCC and put a lien on the gear he owes you for is the best thing you can do at this point. Hopefully you have some documents to back up this loan. My only advice would be to tery not to dump to much more time or money on this.
On Tue, Jul 16, 2019 at 9:55 AM <ch...@wbmfg.com> wrote: > Most small operations don’t have financials, at least not good ones with a > clean balance sheet and income statement. Lots of off balance sheet loans > etc that you cannot see. > > But assuming that they had squeaky clean financials, just go with annual > net profit x5. > Not exactly an ebidta multiple, but close. I am guessing they have zero > net profit each year. > > Start with 5 years of financials and tax returns. If they cannot produce, > run away. But file that UCC no matter what unless you have a promissory > note. Heck even if you do have a promissory note. > > *From:* TJ Trout > *Sent:* Tuesday, July 16, 2019 2:59 AM > *To:* AnimalFarm Microwave Users Group > *Subject:* [AFMUG] Wisp value > > 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 > -- Lewis Bergman 325-439-0533 Cell
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