The problem I have with most of your posts is that there's just too much speculation. Have your partners ever tried to buy 30 machines at once and been told there's only 6 left and will ONLY accept money for the six and not the thirty requested? Happened to me and two other people I know. Seems weird to me if he was running a fabricated business.
They sent some (but from your comment, apparently not ALL) "partners" a notification a year or year and a half ago, that they've simply run out of locations to place more ATMs and they were not going to be selling any more. The market is saturated, and that's that, game over. Three months later, they miraculously got a new contract with a hotel chain-- ta-daa! The world just got brighter again for the ATM lease back business!
Now... if they're lying to you about being "out of machines"-- and they are -- what else are they lying about?
Per you they must be lying.... piece the dates and events together and maybe you will be on to something.
Uhhh... no. The price to some "partners" is still $19,000 -- for the same service and terms. And I have it directly from an honest financial counselor (yes, she's legit; I did my DD on her before believing a word she told me) that the SAME things are sold in her neck of the words, to upscale "partners" for a big chunk MORE than $20,000. She remembered how much she paid for it very clearly-- before she talked directly with the Big Cheese and said, "This thing doesn't add up, I want my money back."
Please understand, I'm not calling you a prevaricator. I think you're being accurate and truthful when you say you have always paid +/-$12,000 per unit. I'm equally certain that those who originally paid $19,000 are told (and are confident) that's what every other "partner" has always paid. And I'd bet those who pay $28,000 each are always told everyone else shells out the same amount of dough.
Maybe your advisor made an honest mistake. Try calling NAS directly and get the terms straight from the horses mouth. Hang up when you hear what you want.
Interesting. This is not what was represented (verbally) to me, and not what the company outlined in their SEC license application. But it may well be true. It's a wacky world.ATM fees are $4.00, of which the owner gets 50 cents. Not some 50/50 thing.
Just call and find out yourself. Now you've shown me you have second hand info from your friend and from a counselor. Try calling directly.
As pointed out above by people hipper and wiser than me, the idea of any investment resulting in a "guaranteed 20%" return is -- shall we say?-- "fanciful." And please, please think about this with a clear head: if you're told your particular ATM didn't make its minimum in a given month, but you still get your "guaranteed" payment, WHERE IS THAT MONEY COMING FROM? And there is no other answer: it's obviously coming from somewhere else. Where?
After the year, if its below 20% you get the difference. As I've stated I know one person who did less than 20% and it was for 1 year after 9/11. The one on this thread who said if a check was ever lower than $200 they would get a new one was posting inaccurate information.
But, uhhh... what might make you even entertain that idea? I mean... gee... what an odd, suspicious idea that is. Hmmm and Double Hmmm. Oh, not that you're wrong to consider it... oh-h-h-h-h, no...
Like you, the biggest red flag to me is the guaranteed 20% deal. But since the machines I have are pretty much doing 30% I kind of rest easier at night because something must be right. Can't see NAS growing so much where they wouldn't have run out of money, especially after the financial crisis, with the returns myself and everyone I know have been getting unless it was legitimate.
Why do you use the adjective "supposedly"? :
Simple. I asked, he said he gets different models ranging from 6000-8000 and that's what he told me. I don't see the invoices he receives so I suppose I should use the word "supposedly" when I relay that sort of information.
Actually, no: the duck comment did make me smile, but it affected my opinion not one bit. This thing smelled like week-old fish from the first moment it was pitched at me. It made no simple, mathematical sense. I still hope I'm wrong because my dear friend has been pushed AGAIN to buy another of these things-- at the usual $19,000, someyuppy, not your standard bargain rate of $12,000 -- and I guess despite what they told you, they were somehow able to find some more machines. I fear when the thing collapses, she will be totally, utterly wiped out. I do not want this to be true, but so far, I've seen little to change my mind. [/quote]
Its been 2+ years. Has your friend recouped most of her investment already?
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