Has anyone used the domain pawn shop inteLend.com?

[lennco]

I just used them today, I needed a little cash flow to cover some higher priced domains I just purchased.

I pawned 4 domains for a low $xxxx 30 day loan.
Granted these were good domains.
The whole process took about a day and a half.
Rick Latona was the one who recommended inteLend to me.

There is an interview on DomainSherpa with the owner Matt Collins, I worked with him on my pawn, he was really cool.

 

[D. Wells]

I do not know what a doamin is...... btw... How much did he pay you to post this? lol

 

[lennco]

I do not know what a doamin is...... btw... How much did he pay you to post this? lol

That was my dyslexia kicking in.
I was not paid and have not received any kind of compensation, I was just passing it on to anyone who may need that kind of service.

 

[procanic]

I do not know what a doamin is...... btw... How much did he pay you to post this? lol

This Is a Forum... Information is Power,Any information is better than None. Interesting to know there are services around that Loan against Domains.

@Lennco

What interest rates are they charging? Long and short term.

 

[FPForum]

This isn't the first domain pawn shop/lending service I've heard of. Pretty cool idea if you have the money to lend.

Thanks for sharing glad to hear they are legit!

 

[lennco]

This Is a Forum... Information is Power,Any information is better than None. Interesting to know there are services around that Loan against Domains.

@Lennco

What interest rates are they charging? Long and short term.

I am being charged 5% interest only on the unpaid balance every 30 days, keep in mind its a pawn loan so it will be a lot higher then a regular loan but its a lot cheaper then those payday loans.

This isn't the first domain pawn shop/lending service I've heard of. Pretty cool idea if you have the money to lend.

Thanks for sharing glad to hear they are legit!

No problem
There use to be DigiPawn and DigiLoan but they closed up, their websites are still up but they dont really work anymore.

 

[D. Wells]

This Is a Forum... Information is Power,Any information is better than None. Interesting to know there are services around that Loan against Domains.

@Lennco

What interest rates are they charging? Long and short term.

I think I know this is a forum.... But, thanks for the information... :gl:

 

[infosec3]

Thanks for posting the information. It looks like a good idea. One question: Do you know if they only accept obviously premium names (ex. Home.com, car.com, 123.com, etc.) or if they would consider not so clearly premium names (Just for the sake of argument: ex. ActingCoach.com)...?

 

[lennco]

Thanks for posting the information. It looks like a good idea. One question: Do you know if they only accept obviously premium names (ex. Home.com, car.com, 123.com, etc.) or if they would consider not so clearly premium names (Just for the sake of argument: ex. ActingCoach.com)...?

They will review all names as far as I know.
Mine were not premium but they were really good names. Good luck

 

[tarikpierce]

I've been thinking about using this service too. A good chance to get some cash flow to invest in other parts of the business. I got a low $X,XXX cash loan for a solid premium domain name in a big industry. May try it just to see what happens!

 

[serryjw]

I am being charged 5% interest only on the unpaid balance every 30 days, keep in mind its a pawn loan so it will be a lot higher then a regular loan but its a lot cheaper then those payday loans.



No problem
There use to be DigiPawn and DigiLoan but they closed up, their websites are still up but they dont really work anymore.

OK...curious, as a NEWBIE, do you change the DNS? Since many pawn loans have gone out in the past, what happens to your domains IF they go out of business?

 

[infmoney]

Thanks for the info Lennco. Never knew there was such a thing.

If I'm ever in desperate need, I now know.

I am being charged 5% interest only on the unpaid balance every 30 days, keep in mind its a pawn loan so it will be a lot higher then a regular loan but its a lot cheaper then those payday loans.



No problem
There use to be DigiPawn and DigiLoan but they closed up, their websites are still up but they dont really work anymore.

 

[Name Trader]

60% interest per annum is pretty steep, imho. Loan shark levels of interest. But when you need the money, and you can't go to the bank, what else is there?

How much were the domains worth in total, lennco? Or put another way, what percentage of the value did they loan you? How was the value determined?

 

[johname]

If your pawning domains to buy more domains your in too deep. Just an opinion, Goodluck

 

[lennco]

How much were the domains worth in total, lennco? Or put another way, what percentage of the value did they loan you? How was the value determined?

I got about 20% of what I thought they are worth, their valuation was about 30% of what they thought they were worth, it is what it is.

I use the money to buy 3 domains at auction for which 2 of them have already received offers on, 8 and 10 times more then I paid for them but I am holding out for more.
So it was worth it for me.

Its not to deep if its a good investment but I can understand how someone can get in over their head real fast.

 

[Name Trader]

Final question. Which auction were they in?

 

[lennco]

final question. Which auction were they in?

gd

 

[cache]

can't you use your credit card? It is cheaper that way.

I got about 20% of what I thought they are worth, their valuation was about 30% of what they thought they were worth, it is what it is.

I use the money to buy 3 domains at auction for which 2 of them have already received offers on, 8 and 10 times more then I paid for them but I am holding out for more.
So it was worth it for me.

Its not to deep if its a good investment but I can understand how someone can get in over their head real fast.

 

[lock]

I wondered about this idea once and without going into their particular set up in general thought there would be a lot over valuing at times. Unless it is treated as a real loan and they get to actually keep the domains as just a side extra to issuing a real loan. Should you default and you still get the dept collectors chasing for the money and still lose the domain. So applying for a credit card would be a better option if this is case.
I still havent read about this particular pawn shop just thought about the idea before.

 

[cwdomainer]

Lennco, I'm curious, any update on this? Were you able to redeem your domain names?

 

[Name Trader]

gd

You have to be quick with GoDaddy. They expect payment within 3 days of winning an auction, else they offer the domain to the next highest bidder, and ban you form their auctions. It requires foresight, imho.

Did you redeem your pawned domains?

rgds
stu

 

[lennco]

Lennco, I'm curious, any update on this? Were you able to redeem your domain names?

You have to be quick with GoDaddy. They expect payment within 3 days of winning an auction, else they offer the domain to the next highest bidder, and ban you form their auctions. It requires foresight, imho.

Did you redeem your pawned domains?

rgds
stu

No not yet, every time I go to get them out I end up spending the money on more domains...lol

It's time though

 

[Name Trader]

It's an addiction (buying domains).

 

[lennco]

It's an addiction (buying domains).

I have entered a 12 step program, its my 3rd time
I cant get past step 1

1. We admitted we were powerless over Domains - that our lives had become unmanageable.

2. Came to believe that a power greater than Godaddy could
restore us to sanity.

3. Made a decision to remove our will and our lives from the care of Godaddy as we understood Him.

4. Made a searching and fearless Domain inventory to find I have way too many.

5. Admitted to Godaddy, to ourselves, and to another human being the exact nature of our wrong domain spending.

6. Were entirely ready to have Godaddy remove all my PayPal payment options.

7. Humbly asked our spouses to to forgive us and not leave and take the debit card with them.

8. Made a list of all persons we had hurt, and became willing to make amends to them all for such things as missing work, family gatherings, the birth of my child all because a great domain was about to close at Godaddy auctions and some dumb ass was bidding you up

9. Made direct amends to such people wherever possible, except when to do so would make them realize they over paid me for a domain.

10. Continued to take personal inventory, and when we were wrong for buying a POS domain, promptly not admitteding it.

11. Sought through prayer and meditation to improve our conscious contact with Godaddy as we understood Him, praying only for knowledge of His will for us and the power to carry that out.

12. Having had a spiritual awakening as the result of these steps, we tried to carry this message to domainoholics, and to practice these principles in all our affairs

 

[JB Lions]

Maybe ban yourself from buying domains for a month. Don't even look, go to those sites. Take that month and go full on Sell Mode, get caught up. Then don't even pawn again. Not a direction you want to start taking.