The Domain King's® thoughts on domain names, web traffic, increasing web sales, success, life, and plain-old Business & Marketing 101. Nothing happens until a sale is made!
I try to lead by example. Look at the Domains I buy & look at the prices I pay for them and what I sell them for. $655 for TurboTutor *com meets my criteria. Let me go over it point by point.
So let me share my thought process. I don’t have to worry about when I’m going to sell it. All I have to know is that it’s salable. It’s brandable. It’s demandable.
Can someone build their dream on my domain name? That’s the #1 question I ask.
If this was the only domain name that I had, can I build my dream on it? That is the 2nd question I ask and most of the time it is the first question I ask before I actually pull the trigger.
YES!
Is it meaningful?
YES!
Does it communicate what you’re going to get or do I have to guess?
YES!
Is it easy to spell and easy to remember, does it pass the radio test?
YES!
Can this domain be the next World Headquarters for an important company or even my own?
YES!
Is this domain worth at least six or seven figures?
YES!! It already is!
Lastly, does it sound good and have a good ring?. Easy to remember so it's easy to tell others? Regardless of what techies believe, word-of-mouth is still the number one advertising medium in the universe. Online or Anywhere. If you want to amplify, you actually need a great domain to amplify. If it does not make sense or is confusing, GAME OVER!
The Domain game is about picking domains. Meaningful DOTCOM domains. Dotcom domains are the biggest and greatest franchise the world has ever known. Think about that. Let that marinate for a moment before dismissing or disagreeing. If you do, you lose!
No other item or government in the history of the world has leveled the playing field economically more than dotcom domain names. No matter where you are or who you are you can plant your dream for as little as a Happy Meal and be on the Main Street of the business universe!!
It’s a game of accumulation of gems. If you pick your gems right, the sales will follow. You don’t have to get desperate.
Value is determined by who you’re selling it to!! If you’re selling it to a local tutor that makes $30 an hour he or she will not be able to pay you too much. That’s a hard pass! Run! Don’t even answer. Disappear.
On the other hand, if you’re selling it to a company that’s going to make something life-changing that’s where the value comes in. You find that out by the conversation.
I just believe everyone who contacts me is Amazon. I ignore mom-and-pops. I don’t care about mom-and-pops. They are not my target audience. They shouldn’t be yours either! I target those end-users that want to join the Fortune 500. Those that have dreams and want to shoot for the stars. Those that wake up breathing what they do. No passion = NO SALE!! I only deal with end-users!
They may even fool you into believing they are a mom & pop. Don’t fall for it! It’s not for the kid either! Don’t believe any of it.
They are Amazon, Apple, and Netflix. Assume they are a Fortune 500 or 1000 company 100% of the time. You shouldn’t believe anything but that. That’s how you should be answering every inquiry. That's how I answer every inquiry if I answer at all. You are NOT compelled to answer everyone. It would be a waste of time to engage 98% of those inquiries. But if you do.....
Their job is to get a price. Your job is to start a conversation. You must win here or you lose. VERY SIMPLE!!
But you have to be 100% consistent and 100% determined, 100% of the time!!
If you can’t get a conversation going, here’s an easy one. Tell them your plans. Tell them you have plans for the domain. You did buy it for a reason! Right? It has value to you! Right? I don't buy a domain unless I can attach a money-making idea to it. So start building the value for you! That helps build value for them.
When the value is too much & they are out of their league, that’s when you simply walk away. You say no and walk away cuz you’re looking for someone with a passionate dream. A BIG dream based on reality not fantasy. Pretty easy to tell the difference if you pay attention to what they say and how they say it. The words they use and the thoughts they have.
Now, if I was a flipper, you don’t think I can turn TurboTutor around pretty quickly for a lot more than what I paid for it?
And if a domainer were to sell something like that for $5000, they are insane and also would also be celebrating. And that would be insane. How many dollars are you willing to leave on the table?
I buy things for $500 that are worth $100,000 or Millions. That’s the domain game. It's a true gut ability few have to see such things. But that is my gift and I recognized it early on and have exploited it.
It isn’t about what you paid for it. I learned that antiquing. You can buy a Picasso for $2. It doesn’t mean you sell it for $5. People buy things for very little money and sell them for fortunes. That’s the Domain game if you play it right. That's Real Estate and stocks and all types of commodities if you play it right. The difference here is you are selling or buying a unique asset that can not be replaced or reproduced. You are buying or selling something that can come to life and be life-changing. You are buying something that you can turn to priceless as it becomes your recognized World Headquarters.
So, just worry about collecting the gold & the gems & everything else will fall into place. Domain game is about acquisitions, not sales. Sales are the residue of great acquisitions. But 95% of domainers have that equation upside down.
They let valuable domains slip through their hands cuz they don’t know what the hell they’re doing, and they end up buying Pigeonshit and worthless extensions for more money than I buy my priceless gems for. Go figure!!
They NEVER tell the buyer about the pitfalls and extra costs of attempting to put their World Headquarters on a non-dot-com extension. That is why they are forced to upgrade and the rebranding process is long and expensive. By the time they figure it out, they have lost a LOT of business via confusion that often leads to the competitor. The competition gets stronger while they get weaker and actually work against themselves.
I try to teach them how to become wealthy, they try to convince me that they have to sell/buy for chump change. Cheap buyers and know-nothing sellers are a recipe for disaster.
They have a chance to learn a chance to advance, instead, they reinforce their past failed ways.
I cannot help those people. They are stuck & they’re never going to progress. They are arguing & reinforcing failure instead of jumping on success. That’s why I say I know what they’re going to do before they know what they’re going to do.
And to get to the true value of a domain name you MUST be able to ask this question and the potential buyer needs to know the answer. Without that info, everyone is flying in the blind. "What is the lifetime value of a new customer?" It ALL starts there!
As you can see, I am talking to both buyers and sellers. There is nothing to hide. It's about laying your cards on the table and putting a winning hand together for both parties. If you do it right, it won't be adversarial. You will both seek and find common ground as you build value.
If not, you simply walk away. The domain you pick for your World Headquarters will make you look brilliant if you do it right or will make you look like a cheap fool if you do it wrong. Both will reflect heavily in your sales and whether your company makes good decisions or not. Companies that make bad decisions usually disappear.
And lastly, let me leave you with this. A company can lease a GREAT domain with an option to buy for as little as a lease on one of their Mercedes. So if their Mercedes is more important than the longevity and health of their company......RUN!!!!! A Founder knows the difference, a CEO might not!!
“It’s also a valuable lesson to CEOs in securing all domains users may use to find your business, or you could benefit the wrong company”.
How timely!! Now where have I heard this before?? BOOM! BAM!!
Meta’s Threads sends 10 million to the wrong site.
10 million visitors and transformed this small company into a GIANT overnight!!
"Analysis of its Google Play profile reveals downloads to the work app shot up from over 100,000 to over one million in a single month. Before Meta’s Threads launched, the app received around 2,600 monthly downloads."
“Threads work app has won the lottery for sharing a brand name with Meta’s latest social network, resulting in millions of traffic accidentally landing on its website. While some may argue that the traffic is irrelevant, as it was meant for the social network, analysis of the company’s app page has shown that the accidental traffic surge has resulted in millions of new downloads and a huge awareness boost of the work tool, surely boosting the company’s value and online rankings overnight. It’s also a valuable lesson to CEOs in securing all domains users may use to find your business, or you could benefit the wrong company”.
Hey Mark, you fucked up big-time pal!! THANK YOU!!!!!!
Now you folks understand why I have been railing against CEOs this past week.
Thank you Mark Zuckerburg once again!! You did not learn your lesson from "TheFacebook"! And now you have taught everyone in the world about making boneheaded domain decisions. Except CEOs of course. They seem incapable of learning!! IDIOTS!!
The Twitter Tweety Bird is DEAD! Cause of Death: THE DUMBEST business decision in the history of business Elon Musk
Only a handful of businesses in HISTORY have achieved having their business name & logo on almost every Brochure, Letterhead, & Commercial & YOU threw THAT awayElon Musk???
So 2 of the biggest CEOs in the world just made 2 of the biggest boneheaded mistakes in business history!! Thank you for displaying your idiocies in front of the world.
I doubt that CEOs will learn. But NOW we have something definitive to point to. This is a turning point and use it to your advantage. Congrats Mark and Elon. You both have failed miserably on this one. EPIC!! Will give me MONTHS of material about idiot CEOs.
This post is directed at all the idiot, CEOs. The type of CEOs that let Hotels.com run through their fingers or Cars.com run through their fingers or thousands of others and do not recognize the power! What the hell are they getting paid for if not to see the future? If not to grow and protect their companies? So Mr. CEO, this one is for YOU and ON you!
Now before I start I want to say there are many CEOs that are geniuses. This is NOT for them. This is for their idiot counterparts that need a wake-up call and I am the one to give it to them.
Not even in hindsight, do they understand it!! So I am calling them out on the carpet RIGHT NOW and in public. Long overdue!
Traffic is what fuels the Internet. Without traffic there is nothing. Type-in traffic is the holy Grail of a domain name or business whether it is natural type-ins from curiosity or intuition, or created type-ins from your own advertising and word of mouth. Both are much more important than search traffic. Much more important. Much more potent. More conversions. But if you are a LAZY CEO you don't know this.
If a company does a good job of marketing, there is going to be a significant amount of type-in traffic. If they do a poor job, it won’t matter at all. Right Mr. CEO?? But Mr. CEO, when you have lost traffic or even worse…. traffic that’s intended for your company. that ends up at your competitor's company. That’s a big deal. That’s a big problem. Is that right Mr. CEO?
If you are a CEO of a company and you ignore this Mr. CEO, you’re an idiot and you should be fired. If you are a CEO and exhibit these traits your board should call you on the carpet, not me! You have no business being a CEO.
Pissed? Think I am rude? Good! WAKE UP! I haven't even started to make my points. Make sure that’s directed at yourself and not me. Diplomacy isn’t my strong point when I’m making such an important point that's for YOUR BENEFIT. But fine, go pee in your own mouth if that suits you.
So Mr. CEO you have a choice. You can focus on my diplomacy or lack of it or you can focus on the millions of dollars and unknown opportunities that you are losing for your company. If you focus on my diplomacy, I think that proves you are an idiot and should be fired.
If I run into a room yelling to everyone that the house is on fire, the house is on fire they better not complain that my voice is too loud or I am too excited. If so, they’d be an idiot. RIGHT??
If you have a fire in your factory and putting out the fire is "Not in the budget that year" do you just let the place burn down? Mr. CEO your job is to OVERRIDE obstacles because YOU are supposed to be the smart leader. The person that makes decisions, not the person that calls 100 meetings and accomplishes nothing.
But it’s your choice. It’s your money that you're burning up. Or in many cases, the stockholder's money that you are burning up and that’s why you should be fired. That’s why you may be an idiot and that’s why diplomacy is not an option. Do you care about your companies future or not?
This is serious business and if they were serious, they would want to know how much business they are losing. So let me give you a little wake-up call Mr. Idiot CEO after 30 YEARS…..
Lost traffic, lost opportunity is akin to shrinkage at a retail store. Would you like me to repeat that Mr. idiot CEO? If people are robbing you blind in your store, do you just close your eyes? Do you get pissed at the guy that points it out because of his tone? Are you a baby with thin skin or are you a CEO that is in control?
Why would you turn a blind eye to more shrinkage on the Internet than in your physical stores? It’s just in another form and in another dimension. If the CEO doesn’t understand that dimension, he has no business being CEO. He’s an idiot, and he should be fired.
They have all kinds of guards and detectives in their stores or office buildings. Cameras cover every corner of their premises. Hundreds of them. Being monitored live by someone else in security. Possibly even a team of officers. But when it comes to online, they’re blind. They know nothing. They don’t want to know anything. They are Schultz. They know nothing, they see nothing, they do nothing!! They don’t want to even hear it. That’s why they’re idiots and they should be fired. But why listen to me, I am rude and you don't like my taste in words or tone? Grow up!
So Mr. CEO if the shoe fits instead of getting angry or not liking my tone or complaining about my delivery, maybe you need to get your head out of your ass and focus on the bottom line.
What is your Domain Name Strategy?? You may not have one but don't assume your competitor is as dumb as you. Then again, after 30 years, you may need a crowbar. Take a look at the arsenal of domains many of the Fortune 500 have. CEO's that had vision even more than 30 years ago. What is your excuse Mr. CEO?
Wake up!
Every sale counts. Every new customer counts. Every lost customer counts 2X.
And besides you are not capable of answering or asking the simplest question....."What is the lifetime value of a new customer?" That is a simple question and the answer should be on the tip of your tongue Mr. CEO!
So let's ask again: "What is the lifetime value of a new customer?
You have no idea do you?? See why I think you are an idiot? If youn were not an idiot it would be on the tip of your tongue.So let's ask an even more important question:
"What is the lifetime COST of losing a new customer to your competitor Mr. CEO?"
That's a double whammy Mr. CEO. What is the lifetime COST of making their company stronger and your company weaker? If you roll your eyes and dismiss all this because you don't like my tone, my style and the pointed words I use and you are offended........ Then Mr. CEO, you are a dumb motherfucker and you should be fired. Any questions? Now go take care of business and sales like you are supposed to do. You can thank me later!!
With a great and powerful standout domain name, I am providing the land and the unique opportunity to build a skyscraper for their world headquarters. Where 90% of all of their business is going to be transacted.
I’m also providing a medium, a podium, and a soapbox that towers over millions and possibly billions of other businesses.
I am giving them locations that can’t be duplicated and if used correctly, is priceless.
I’m providing them with their brand, their identity, and the ability to sell more and beat the competition.
I’m providing a piece of the puzzle that can be the difference between the greatest success and the greatest failure.
So while some domainers just sell domain names, I’m selling much more than that and the residue of all that is what dreams are made out of. I am selling the dream. I am selling the vision. And I am selling the vehicle to make that all happen and come through if executed in a proper manner.
I’m providing a permanent neon billboard on the Internet that can be seen at every corner of the universe.
I am supplying a never-ending stream of targeted and potent visitors to fuel growth perpetually.
I am giving all that and so much more. I focus on end users and CEOs. And if the CEO can’t get around his head around that, send him/her back to the mail room until he/she figures it out.
It’s already 30 years down the road and they should’ve figured it out 31 years ago. CEOs are paid to have vision not to be looking for the next gig because this one is going to be done in five years!
I posted on my Twitter feed at the beginning of 2023 that this was going to be a monster year. You’re seeing that recessions and in bad economic times people and their egos come back down to earth. It’s a monumental reality check.
Those bills start to pile up and the cash starts to diminish. Well, now they have to do what they were paid to do, to begin with, which is think! Think! And be nimble. Being nimble and quick to respond and be able to execute a decision when it’s time and necessary to pull the trigger.
So I’m providing all that and to me it’s worth millions and if the dumb shit CEO thinks it’s worth $50,000 that’s fine, but that’s why he’s a dumb shit CEO and there’s a likely chance I just may have to tell him/her that.
There are only a couple of kinds of CEOs good ones and bad ones start to the filter process. And then we have passive CEOs and aggressive CEOs. Futuristic CEOs and CEOs that can’t even see yesterday very clearly.
I have said something for many years, and I found out that Steve Jobs said essentially the same thing. I’ve said that a great domain name is the greatest economic equalizer the world has ever known. I’ve repeatedly said that the Internet with a Great Domain name and if you do your job right can make the smallest company look like the biggest company.
I had an in-home business in an 8 x 10 bedroom doing seven figures. It was my World headquarters, and I presented it that way. I copied Apple and IBM and Microsoft, and lots of other Fortune 500 companies and what they did and I try to emulate and interpret it in my own way.
So I was just a little tiny business, but my image was big. And my friends would laugh at my World Headquarters, but the public never knew. My world headquarters could’ve been a skyscraper or could’ve been in the closet. Basically, it was both. A tiny business in a closet that blossomed into a skyscraper built with meaningful domain names!! The single greatest equalizer the world has ever known!
My vision has never changed, and there’s no force on earth that ever will change it. So the dream lives on! Start the conversation and talk about dreams. If they can’t talk about dreams, they’re not a dreamer and your job is to move on.
Great domains don’t have to be listed for sale. Great domains are found by those looking for them. So grab a chair, sip your piña colada, and watch the tide come in. They will find you. You don’t have to find them.
"If I got 1000 Bitcoin for FREE I still made MORE w/Domains + I have 6500/6540 original names left! + Active Businesses #DomainNames are the only #digitalasset that has real underlying value! Our day in the sun is here!"
I had that tweet on Twitter today that is worthy of its own Blog post. So Let's take a deep dive. Well actually not too deep because there was no reason to dig deeper. The results are that stunning!
So....If I sold my 1000 bitcoin I walk away with a cool $60 Million. Not bad!! But Domains are better!
Domains have FACE VALUE. They have INTRINSIC Value and they have REAL value. They are unique and they are collectible. They can be reimagined in MOMENTS! They are visible and useable worldwide. Trillion dollar companies run their worldwide operations frm a single domain name.
But forget all that. Just forget it.
Besides selling only about 40 of my domains I have 6500 still to go. 1000-1500 of them with GREAT value! And rising! Bitcoin helps!
But the businesses I share in is the invisible hole in the donut that will allow me to buy bitcoin for a lifetime IF that is what I choose. Candy.com itself (now GreenRabbit.com after selling their Candy.com "Booster Rocket") will allow me to buy 1000 bitcoin when I sell my shares in about 3 years with my 8.88% share of the company.
Bestodds.com will be going live very soon and that will spit out it's own load of bitcoin or dollars or real estate or whatever I want for the next 20 years.
Punchbowl.com is still.an active entity with deals with Disney and others.
And now I have agreed to the basic terms of Property.com. Possibly my biggest deal yet. I will own 13.5% of that new entity.
In these businesses and others I am simply a Silent-partner. My only duty is done at the beginning. By picking the right ACTIVE partner.
It took a LONG time for the "Domain TREE" to mature, but now it is in full bloom and the fruit of 25 years is RIPE and VISIBLE! Visible and proven. Nobody has to take my word for it like it was 20-25 years ago. Now there is an active multi-billion dollar market that is growing daily and has never ever been hotter than right now in 2021.
With Bitcoin, I can buy it, sell it or use it. I can not control the value. The value would control me. With NFT's, I am still trying to wrap my head around that bag of smoke. But that just helps domains take their right role on top of the digital mountain. The TOP!!
Now please understand I own BOTH. I see synergy between them. But you have to cash in one to achieve that synergy and it goes both ways!
But make no mistake, a GREAT domain name is SUPERIOR to ONE bitcoin but possibly MANY bitcoin and like a golden goose, a domain can be spitting out a lifetime of bitcoin. Can a bitcoin do that?
And for clarification when I talk bitcoin I am also talking crypto but bitcoin is the first name associated with crypto for most. It's branded!
And of course, I am talking ultra-premium dotcom domains. That is always my basis.
And of course, it takes real work and talent to find those domain names. To recognize them. To understand their value and why. And then to either turn them into businesses, lease them or sell them etc.
So while I write about the 2 digital assets as competing, I am really just showing the depth of one compared to the depth of the other. Why one is the King of the Hill! Now you know, and now you know why!
Down, dirty, raw. I callout CEOs by name. I explain the difference between a hard-working Founder and a CEO looking for a 2-5 year gig. Explosive interview. I'll let the video do the talking.
I will note that the discussion about the $2.8 Billion company was about the sale of Bird.com and noting that the CEO of Bird.co passed up this once in a lifetime opportunity. I simply did the math and noted he was losing a MINIMUM of $140 million ANNUALLY in lost revenue simply because of confusion at only a 5% loss from the .co to .com. DUMB!!!
I received this email this morning and it is DESPERATE, UNETHICAL and DISGUSTING!! But it's not the first time this .CRAP model has been used to PUMP and DUMP! To inflate registration numbers just to fool and mislead domain investors and the public!!
This is one of the biggest gTLD models, STUFFING accounts with Domains nobody asked for or ordered! I have to act not to get it stuffed in my account??!! I have to opt-out?? BULLSHIT!!
Many companies will be fooled into paying renewals for years! That's a SCAM in MY BOOK! A TOTAL SCAM BY THESE COMPANIES!!
That's the gTLD world for you. Based on LIES, FAKE REGISTRATIONS, ACCOUNT STUFFING AND DECEIT. They have prayed on innocent companies hoping they don't notice this CRAP! CRAP! CRAP!!
So I was invited to participate in a Clubhouse social with fellow domainers on Friday night. The modern-day "Party Line" with a purpose and some interesting views and voices.
On Sunday I stumbled into "DomainInvesting247" and before I know it I was on stage and fielding questions for 5 or 6 hours. I saw and spoke to folks I have not run into for many years. It is certainly addictive. I am realdomainking there if you want to follow me.
Since then I have been in some other rooms and have been exposed to some great stuff.
Last night I stumbled into a sales-room. I was invited on stage for a brief time. I would highly recommend domainers learn how to sell if they want to make more money with each and every sale. There was so much bonafide info that can be learned in minutes. There are rules of the road. There are ways to approach. But so much value so quickly and it can only make you $$$. Valid info by qualified folks hitting head-on sales mistakes.
Clubhouse will siphon off and suck the traffic off of Twitter, Linkedin and others. It may also spawn others doing similar things. So I look forward to the new and more fluid collaboration that is taking place in realtime 24/7. It is also therapeutic and humbling to listen to the stories and the paths folks have taken and the obstacles they overcome. Many have been homeless. MANY!! Incredible stories of success. Most people that are successful have overcome great adversity. Their stories are all unique but there is ALWAYS a common thread. The common lesson, you have to take charge of your own destiny!
So far the biggest takeaway and the biggest common thread, is staying away from losers and those that think negatively. It has been the single most common story of Rags to Riches I have heard there by DOZENS. They all divorced everyone in their life that was negative. They took control. The #1 path to success!!
A tip of the hat to all those giving and learning! Everyone from the most seasoned professionals to the novice of novices. But entertaining and educational it is.
So we will see where it leads.....Good luck to all.
Next to domains my number one hobby is real estate. Just like I collect domains I collect real estate. And I noticed something this morning when I was going through the magazine called Luxury Home.
What I noticed was a change. No longer are most properties priced. Some had price upon request while a good percentage of them, more than I’ve ever seen in my life, say nothing about price.
There were few prices and here’s what’s happening. The market is so hot, and moving so fast that whatever price you put on today will be obsolete tomorrow. There is a parallel with domains too!!
I follow several markets in the United States and as much as 50% of anything that comes on the market is snapped up within the first 7 to 10 days now in these red hot markets.
For example in Asheville, North Carolina today on realtor.com in the last 72 hours, 36 homes have come on the market and nine of them are already under contract.
I have never seen anything like that in that part of the country ever before.
In Boca Raton in less than 24 hours there were 36 new properties and three of them are already under contract.
Now the rate in Boca is going to be slower than Asheville because you have much more choice and prices that are considerably higher.
So I’m going to dig a little bit deeper and go to 7-8 days. The percentage of sales of units on the market is 50%. That’s an incredible number!
I think typically it may be 5% or 10% if that. That is not a red hot market, that’s a white-hot market. And during that time the prices have gone up.
No when I go to 15 days it jumps even further to over 60%.
When we hit the 21 day mark The sales are at 70%
Now let’s look at a different market. Let’s check out New York City. The number one disaster in America. 720 properties were listed in the last three days a total of six or under contract.
That’s nearly unmeasurable. Less than 1/10 of 1%. Disaster! Prices are plummeting!!
It’s great for bargain hunters however depending which way things go it may or may not be a bargain. What it is is a bloodbath! It’s a race to the bottom. It’s a race to who could cash out first. It’s not a race you want to be involved in. Desperation for many!
Right now there are 1340 properties in New York City that are on the market for over $5 million. Very few pending. I found one I just happened to click on 381 days on the market.
Is there opportunity there? Yes but we don’t know if the opportunity is just beginning or there is much more opportunity to come?
Let’s face it, New York is broken. It’s broken! It may take a long time to fix. It’s not attractive to pay over 60% of what you earn to somebody else. Not only isn’t it attractive, but the way I look at life if you give more than 50% of your earnings to the government you are a slave my definition. You’re no better than a junior partner in that deal. NONSENSE! So between that and the pandemic, they are fleeing New York City in numbers that nobody has ever seen before.
When you buy now you buy through someone else’s circumstance. They want to get out. They need to get out. They may sacrifice all of their equity to get out. New York City is a market of circumstance. But chances are the circumstances are going to get more severe as more and more people flee. Hundreds and hundreds and hundreds of new units are flooding the market there every single day. It’s a disaster!
Spotting trends is one of the most important muscles that you need to build as a business person. You have to notice things that are different and are changing and are doing that in a dramatic fashion.
There is slow moving opportunity and there is fast moving opportunity. I have just shown both. Real estate in general is slower moving but right now it’s anything but.
Prices are skyrocketing. The cost of new construction on inferior lots is 2 to 3 times higher than homes that are existing and are in prime locations. That’s due in large part to new costs and those New Yorkers that are fleeing to Florida and used to paying prices from 5,000,000 to 90,000,000.
The more they make the faster they are fleeing to places like Florida. That is driving prices up. But not just up skyrocketing up!
Homes are going up 5%, 10%, and 15% a week! They won’t be able to build fast enough. And they’re not just coming from New York. For the first time, they are fleeing California and heading for Florida as well!
What does that mean? Well it means there are two things that could happen. The homes that are definitely overpriced will either come down in value and existing homes will go up in value and they will meet in the middle or the new homes will actually fetch those prices and existing homes will go up even more!
Now there are downfalls and pitfalls with all of this. When folks start to make obscene amounts of money whether it’s in stock market, bitcoin, real estate, domains or any other thing and it’s very widespread, that can be dangerous.
Think of it this way, if everyone was very wealthy and nobody had to work who would actually do the work? That’s the danger!
But in the meantime, you reap as much as you can and hope it’s enough because that steamroller of inflation is coming our way and it’s coming our way in a very big way!
And then of course I’m gonna have someone asked me what that has to do with domains? And my answer will always be you can’t be a SUCCESSFUL domain investor without being a business person. A business person has their eyes on multiple sectors. They look for changes. Any changes.
You have to be economically fluent. You have to understand the difference between a recurring bill and an income-producing asset. You have to learn about not overextending yourself and being in a position where you are stuck or at the mercy of others or time itself.
Domaining is about people and populations and audiences. Business is about people in population and audiences. They are directly related to a degree where it may determine your success or your failure.
Domains are about population centers. Cities and towns are about population centers. Buying power and value is about population centers. Swampland has no population. Domains have to be able to attract large audiences. They need to be targeted. Domains are about math. If there is nobody in the "Domain Audeince" what do you have?
When the audience flees places like New York City and the population declines and few are replacing that population, you have a recipe for a major crash! On the other hand when you are in an expanding population area and your audience is growing so are the prices.
So here you have a vivid tale of two cities or 2 areas and the dramatic difference that is usually not visible with the naked eye. Never close your eyes to big shifts like this. Possibly the most dramatic shift I have ever seen in my lifetime! There is a word for that.......OPPORTUNITY!!
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