In 2018 two domains that I personally financed for the new owners were paid off. In February I received the last $1 Million owed on Candy.com. Then just last month I got the last 10 payments for Teem.com and that deal is now paid off.
I have always been willing to help a SERIOUS buyer with a PLAN to get into one of my domains for a very reasonable monthly fee. Sometimes just $1000 or $1500 a month just to allow them time to find their footing and make a REAL decision. I am not out to choke them. I am out to help them with life Support".
Today I inked a deal to lease Mens.com for $1500/month for 24 months with an option at $250,000 during that lease period. It's an $18k investment on their part for the first year to see if they can make their idea work. That's CHUMP CHANGE! That's not a big number. That's less than a kiosk at your local mall. So if someone has a great idea and they can't manage to get over that small hump, then they probably don't have much confidence in what they are doing and why should I?
Thanks for sharing and giving ideas to folks.
Men. Com sold for $1.3M. I get that 3 letters having always had their own pricing but I like the plural better in a way. Also, bearing in mind how long ago you sold men, I’m curious why your sale price is so low? Are you going soft Rick? Where is the guy who made them pony up 850K for ireport.com?
ALL Legacy Domainers such as yourself encourage Small Business Survival in the digital Domain. Unlike Google who dares you to enter their Monopoly Platform at your expense. The times they are changin. JAS 9/9/18
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) (Former Rockefeller IBEC Marketing Intelligence Analyst/Strategist) (Licensed CBOE Commodity Hedge Strategist) (Domain Master) http://www.UseBiz.com
I also think that the buyer got a fantastic deal.
a few days ago i spent .99 on Mens.Website :-)
It’s interesting how flexible you are depending on the situation. Looks like they got a great deal indeed.
I love the financing concept, Rick. I read a couple years how you offered this and kept a piece of the business included in the sale. That was brilliant. After I read that article, I had a client who wanted to buy a City(RealEstate).com name. He ended up trading me a domain upfront, paid 6 monthly installments of 1K and then defaulted after 8 weeks of allowing him to makeup his missed payments. It would have been nice to have him pay it off but I still kept my domain, kept his domain he traded me upfront, and 6K in payments.
It’s great way to support new ideas and let them grow. This is eventually going to help grow the domain industry as well.
The concept that you have in your business, it is difficult to focus on the presprectiva of selling domains.
I would say that you were born as a pioneer of short keywords and a single pronunciation, with the knowledge that in the future to have a secure business with others in need of a word or three to get 5000 domains with their investments and have a special view to the finances.
With you always learn something new or old from there to come with a great harvest.
Thanks for sharing your thoughts and ideas. This post helped me just close a sale with a young startup that could not afford my asking price. I offered them a deal similar to what you described on this post, and it is a win-win for everybody. Thanks again!