View Full Version : Thoughts on buying non contractual accounts?
01-21-2010, 01:52 PM
Hey i'm new to the forum but ive read alot of good advice on here. Just wanted some feed back on buying accounts with no contracts, mostly residential an some small business. Generally its a bad idea but with the amount of small start up companies going under in my area, youngstown oh, I do believe there is value in them if done right. Was also wondering about going rates of these type of accounts in other parts of the country. Thanks...Mike
01-21-2010, 11:01 PM
About 8-12% of what they are worth for 1 year. I've paid that before and found it to be reasonable. Partially payment in the beginning, the rest when they have actually paid you and you have had a chance to work with them. If someone selling accounts can't trust you to work woth his clients to see of they are legit then I would question doing it. Not saying I would refuse if the terms were not exactly this, but the two of us would have to work out something agreeable for both of us.
01-22-2010, 06:27 PM
That sounds really reasonable, i have scene some horror stories involving buying and selling accounts and never wanted any part of it but there are so many young guys going under i think it might be worth a shot. Offered one guy 5% a month for the season on what his accounts bring in and he took it, so if the customers aren't ligit than i am not out the money, might keep going and try and get some more like that..we;ll see how it goes! thanks for your input
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