Serenade Posted March 5, 2008 Share Posted March 5, 2008 I received this email the other day, do you think it's a *? So far, he tells me he doesn't want to show me his site (he says it's closed because he doesn't want new clients). He's charging a pre-transfer fee of 2500$ for all the clients, and then 6 months of revenue there on end. Here's the main email I got: Hi, I am selling my cpanel clients. 86 clients altogether. Shared Clients: 32 Clients: ($63.68 monthly) 100MB Webspace and 1GB Bandwidth, Each pay $1.99 per month! 30 Clients: ($359.70 monthly) 1GB Webspace and 10GB Bandwidth, Each pay $11.99 per month! Reseller Clients: 24 Clients: ($2159.76 monthly) 10GB Webspace and 100GB Bandwidth, Each pay $89.99 per month! Total Money (Month) = $2583.14 Clients pay via paypal subscriptions. Clients are currently using 177GB Space and 400GB Bandwidth each month. They are hosted on a US server however I am from the UK and clients are billed in USD. Support is via email only and there aern't many support requests, usually just simple things. No new clients are being accepted, as I want to try other things now and no longer want to do web hosting. I am only selling the clients and am asking between 6-8 months revenue. (negotiable) I can complete straight away, payment is prefered via a wire transfer. I am happy to accept the payment in two halfs if required, e.g: half first and half when we've completed with terms in the purchase agreement contract. If you are interested please let me know. All the clients will be moved to the buyers server as soon as we can agree a deal and the first payment has been made, I would like to use a purchase agreement contract for this sale to protect both of us. Thanks, Nathan Barris * or great deal? Link to comment Share on other sites More sharing options...
apollo1 Posted March 5, 2008 Share Posted March 5, 2008 Since he doesn't want to disclose the site, I would say it's a *. Beware, there are a lot of con artists on the net. If he's serious, ask him for a voice number so you can chat, but I would be very cautious. Link to comment Share on other sites More sharing options...
yukiko Posted March 5, 2008 Share Posted March 5, 2008 ive gotten this also ive talked with him and what not on msn he uses whmcs as billing software so that could help with verfitcation if in doubt clients have too pay their bill somehow:) Link to comment Share on other sites More sharing options...
mylove4life Posted March 5, 2008 Share Posted March 5, 2008 this can be very risky, I have seen people buy clients like this and just have 1/2 of them leave... I myself would call each client and introduce yourself BEFORE you buy it. That way they feel like they have to stay... just my 2c.. Link to comment Share on other sites More sharing options...
Zorro67 Posted March 5, 2008 Share Posted March 5, 2008 you should be able to easily get his ip of his server If you are thinking of proceeding, you might want to do some reverse ip lookups, such as at domaintools.com, so as to test the veracity of his claims.. I would also ask for his VAt no; In Oz, we can look up the bonefides of a company once we have the AU equivalent (ABN). Thats usually a good start for them to prove that they are who they say they are. I'd also be asking for a set of audited (or tax department approved) account for at least the last full financial year. In addition, you'd be well advised to write in a support & handover clause for say 3 months. Finally,by you both signing a non-disclosure agreement, he can ensure his data privacy, whilst allowing you to validate his data. On the plus side, look at what those clients could be worth to you in terms of addon sales. Him saying no to any of these should raise your alarm bells. Just rember, as the saying goes, CAVEAT EMPTOR. Link to comment Share on other sites More sharing options...
Serenade Posted March 5, 2008 Author Share Posted March 5, 2008 ive gotten this also ive talked with him and what not on msn he uses whmcs as billing software so that could help with verfitcation if in doubt clients have too pay their bill somehow:) Did you purchase anything yet? Also, I can't afford 2500$. He's now asking me to split with someone from this forum. So yukiko, if you're sure he's A-ok, maybe we can work something out. Link to comment Share on other sites More sharing options...
ckh Posted March 5, 2008 Share Posted March 5, 2008 If I read it right, he's asking for 6-8 months revenue or $15k to $20k and not $2500 If you have any doubt, use an escrow service. Link to comment Share on other sites More sharing options...
bear Posted March 5, 2008 Share Posted March 5, 2008 If I read it right, he's asking for 6-8 months revenue or $15k to $20k and not $2500 That's how I read it as well ($2514*6=$15,498). It's $2500 now...then 15K+ after. I think partnering is usually a very bad idea, but that's just me. I've never seen it go well in the end. Investigate fully. If this was legit, and he only wanted $2500? I'd have bought long ago. Get an NDA, check things out carefully (especially making sure these clients are current and happy)...it sounds too good to be true. Link to comment Share on other sites More sharing options...
Serenade Posted March 5, 2008 Author Share Posted March 5, 2008 I know. Now he's not replying to my emails. I'm pretty pissed off though, I don't want to miss out on this deal if this is legit. Link to comment Share on other sites More sharing options...
railto Posted March 5, 2008 Share Posted March 5, 2008 m8, looks like a big * to me Link to comment Share on other sites More sharing options...
Jordan Posted March 5, 2008 Share Posted March 5, 2008 I guess the main thing you have to ask yourself is: Why did he email you? Did you initiate this process somewhere (eg: Post a "looking to buy hosting clients" thread at Webhosting talk?) If you didn't ask to purchase this, don't deal with it. Kindly tell him he can go post his business as for sale over at webhostingtalk. If it's legitimate, he'll get it sold within a few days of posting it over there. Link to comment Share on other sites More sharing options...
Serenade Posted March 5, 2008 Author Share Posted March 5, 2008 Right, but at the same time, if it is legitimate I want this deal. Link to comment Share on other sites More sharing options...
Jordan Posted March 5, 2008 Share Posted March 5, 2008 But you have to ask yourself: Why did he contact you? Did he know you were looking to purchase? If you really want to look at purchasing clients, even if you want his deal, just look around WHT. You'll find something there. Or just keep talking to him and getting references from him and other items pertaining to the sale (eg: NDA, NCA, etc.) Link to comment Share on other sites More sharing options...
apollo1 Posted March 5, 2008 Share Posted March 5, 2008 I know. Now he's not replying to my emails. I'm pretty pissed off though, I don't want to miss out on this deal if this is legit. Save yourself some headaches and big stress... just hit DEL Link to comment Share on other sites More sharing options...
yukiko Posted March 5, 2008 Share Posted March 5, 2008 ive talked with the guy if he is infact a lagit owner of whmcs licence he would post here and then we can verify hes lagit. but since the guy rarely on its hard too verify anything... as bear said the math doesnt add up what so ever and is too riskie.. Link to comment Share on other sites More sharing options...
Serenade Posted March 6, 2008 Author Share Posted March 6, 2008 I'm thinking of using an escrow service, anyone know of any? Link to comment Share on other sites More sharing options...
bear Posted March 6, 2008 Share Posted March 6, 2008 For the record, NDA stands for Non Disclosure Agreement. As in "don't disclose the details", so it's been removed from public view. Link to comment Share on other sites More sharing options...
Unspecific Posted March 6, 2008 Share Posted March 6, 2008 I'm thinking of using an escrow service, anyone know of any? Way too risky IMHO. Link to comment Share on other sites More sharing options...
bear Posted March 6, 2008 Share Posted March 6, 2008 Escrow makes it less risky, actually. I've used escrow.com personally. Worked fine. Link to comment Share on other sites More sharing options...
Unspecific Posted March 6, 2008 Share Posted March 6, 2008 Escrow makes it less risky, actually. I've used escrow.com personally. Worked fine. Each to their own. Link to comment Share on other sites More sharing options...
nhouck Posted March 8, 2008 Share Posted March 8, 2008 It is likely a *, who pays $89.99 for 100GB of web traffic and doesn't use it? Also who pays that much for web traffic period?! Link to comment Share on other sites More sharing options...
Iceman Posted March 8, 2008 Share Posted March 8, 2008 Australians!!! Link to comment Share on other sites More sharing options...
generic Posted March 8, 2008 Share Posted March 8, 2008 come on guys, its a *. I have sold 2 businesses so far. 1st step is a non disclosure, second step is verificaiton of the website and business, 3rd is looking into their billing system to verify everyone exists and see historic payment activity. if you cant do those, its a *. hes making $2500 a month and he does not have to do much, and he wants to get rid of it? Link to comment Share on other sites More sharing options...
Serenade Posted March 8, 2008 Author Share Posted March 8, 2008 Yeah, he's cut contact with me ever since I asked him to screenshot his billing system (blurring the contact details of course). Don't trust this Nathan Barris. Link to comment Share on other sites More sharing options...
andymoo Posted March 8, 2008 Share Posted March 8, 2008 I got the same mail and politely declined as something didn't smell right about it. Like generic says a couple of easy k a month ain't something I'd let go of.... Link to comment Share on other sites More sharing options...
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