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I need financing for $50,000 deal. Options? Time sensitive.

Labeled as question in Domain Buying and Selling Discussion, started by WhoaDomain.com, Nov 18, 2020 at 3:32 AM

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  1. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    agreed. well I really did not know until yesterday that this buyer did not have the $50,000 cash. like I said before he did everything on his own as far as researching domain loans. I never heard of Lendvo until he told me! lol
     
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  2. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    I already offered this option to him as soon as I found out what he was trying to do which was use Lendvo and then found out Lendvo was giving him the run around.

    and then I found out the contact button on Lendvo is no longer "clickable".

    But for whatever reason the buyer really wants me to get $50,000 cash upfront at the end of the day and get the domain right after. Who am I to tell him otherwise? I'm here to help him out to get the scenario he wants. and yes of course it benefits me too to get the $50K upfront but I'm flexible but this buyer seems adamant to get the domain entirely.

    I just realized something now. Could this buyer be a domainer and is trying to flip it to an enduser? lol I doubt it. but maybe...........................? you never know.
     
  3. effervescence

    effervescence Restricted (15-30%)

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    .., I also contacted Elon Musk for a chump change of 999 billion and 99 cents to finance my own Pluto mission, but he ghosted me. Call it fate, we share the same problem. What a coincidence!
     
    Last edited: Nov 18, 2020 at 10:05 PM
  4. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    no no. you misunderstand. I was looking for a "standin" for Lendvo. So whatever Lendvo should have done here which I'm assuming is take possession of the domain in question then so be it if that's how it's done.

    I wasn't trying to say I would control the domain in a scenario where we have a "Lendvo" stand in.

    In the scenario where I become the "Lender" then yea I will control the domain.

    Also I guess I needed to be clear? I wasn't looking for an NP Lender. I was hoping domain lenders like Lendvo or domainCapital or similar would be read this thread and jump in.


    Obviously if you are not like these companies why think this thread applies to you?

    I was also hoping maybe some experienced NP domainers could steer me in the direction of a "Lendvo" type company they have had a good experience with.

    "I feel really uneasy about this. Just go through Epik or Namesilo. Take your installments. If you want the whole thing up front, i feel like it's a roundabout scam or a way to sell a domain sneakily."


    Relax buddy. lol no scam here. I mean if this was the case. That means ANY deal where a seller gets PAID UPFRONT ANY amount whether it is $100 or $100,000 is a scam. right?

    Again. Of course anyone wants 100% of the payment in a perfect world in any deal. As it's simple and hassle free. nothing scammy about that or is there?

    With that mind set me paying $2.99 at Mcdonald's for a milkshake is a "scammy transaction"? lol

    Also, the request for any "takers" applies to actual full fledge Domain Loan providers if they are on NP reading this. Not any run of the mill domainer.

    Thanks for your concern though.:xf.grin:
     
  5. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    haha everybody is a friggin comedian!
     
  6. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    I don't really know the details as to what the buyer talked to Lendvo about this loan. It seems the only collateral for this loan was the $25,000. So I just thought this was "normal". Again. never did this before for such a large amount.

    But the buyer is in the real estate industry and I think has property so who knows? maybe he put up equity to his property too as collateral? I doubt it but I never asked. I should ask him later.

    but in any case. I think I have decided to self finance this deal. Now I have to find a good loan payment plan template and modify it to fit my needs.

    This is going to be a hassle. These agreements are just full of legal jargon and I'm dumber than a bag of hammers. lol
     
  7. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    Agreed
    Agreed
    Agreed Thanks!:xf.wink:
     
  8. gold lover

    gold lover Established Member

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    good luck to you, hope you can find what you are looking for:xf.smile:(y)
     
  9. Bohdan

    Bohdan Top Contributor VIP

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  10. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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  11. gilescoley

    gilescoley Top Member PRO VIP ★★★★★★★★★★

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    Lets see how this all pans out. It all seems a bit odd to me. :unsure:
     
  12. cornell

    cornell VCW.COM, BJR.COM FOR SALE Blue Account

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  13. FolioTeam

    FolioTeam AMDB.tv VIP

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    Too many red flags in my opinion
     
  14. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    red is a very lucky color to Asians. Lol
     
  15. ThatNameGuy

    ThatNameGuy Restricted (33% DM) Gold Account

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    I'm not sure if i can help, but i'm in the real estate industry myself in that I own an intellectual property portfolio of 766 .Realty and 43 xxxxrealty.com domains.....God's honest truth, and they're valued at over a million dollars. I even own Collateral.Realty and CollateralRealty.com. Maybe if someone like Rob Monster would lend me 100K using my million dollar RE portfolio as collateral we could make a deal:xf.wink: Of course this was said in jest, but every word of it is true.

    And who said this business isn't more fun than LaughInn:ROFL:com.
     
  16. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    lol

     
  17. ksusha64

    ksusha64 Top Contributor VIP Gold Account

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    I hope you get your 50K sale! Sounds like a fairytale story. Good luck!
     
  18. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    everybody is a comedian! lol thanks!
     
  19. UncleBrand

    UncleBrand Top Contributor VIP Blue Account

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    @WhoaDomain.com don't waste time with domaincapital

    they are just pretenders that offer no services at all
    i had an opportunity to acquire a killer one word domain name in 2017,
    i contacted them several times, never got even a simple answer

    a capital funding business who can't afford a 20$/year SSL security certificate,
    who want to make any deal with that kind of business
     
  20. Mike Goodman

    Mike Goodman Established Member

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    If Lenvo are, what was your expression earlier in the thread, "dragging their feet?" or something similar, on 50% they have a reason to do so. Not completing a bread-and-butter deal would be nuts if they didn't have grounds for holding back.

    That waves big red flags at me. It may be something simple such as they don't see the domain as having such a high value, or they believe they couldn't recoup that amount from it quickly in the case of default. Or it could be either of the scenarios below.

    If the buyer has an onward buyer they need immediate possession. They''d be better off doing a split with you and you take the cash from the end user. Nobody is going to finance any such deal unless they get to hold the domain until repayment is made in full, along with all commissions etc. Funders will point the DNS for them but they won't let the domain go. Rob Monster was mentioned earlier in the thread. I'm sure that's the way he and his team would handle it.

    Alternatively, the buyer may well be trying to pull of some kind of a scam. That would appear to me from the available information the most likely scenario.

    Whatever, if the potential buyer is so keen you need to have a serious discussion. If they won't talk about the full detail, walk away. It is either a scam or the potential buyer is such an idiot you will never get any sense out of them. If the potential buyer turns out to be genuine you are then in a position to offer one or more viable solutions for them and to secure the sale.
     
  21. AEProgram

    AEProgram Top Contributor VIP Blue Account

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    If someone wants to pay 50k for a domain it could very well be he is the only person that will pay that 50k. Its possible if you need to liquidate that name you wont get more than 25 dollars. We see this all the time, domains that sold for 50k end up selling years later for a fraction.

    It all starts with the domain, what is the wholesale value right now. If you posted it on NP or NJ what will it sell for today realistically?

    The lender looks at that and then cuts that down by half or more.

    So if someone says I want to borrow 10k for domain, my next question is if I lend the money and I get no payments could I sell it today for 15k? Not that I would want 15k for it, its just a secure way to do financing and stay in business.

    It does not matter to me if someone wants to pay a billion dollars for the name, it really does not mean anything.

    I hope you get your money.
     
  22. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com Gold Account

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    Yes it seems both options are a no go. Domaincapital said no and Lendvo probably know. Only other option is the usual routes of traditional bank business loan which I already know will be difficult. Spoke to Rob already about this and looks to be the best option.

    But in thee end it all boils down to what the buyer has in mind. From the get go he seems to have done his own homework as far as finding Lendvo. I never even heard of Lendvo or did and just forgot.

    So if Lendvo does not pan out then I suspect the buyer will have looked into other options on his own. I'll listen to him later today when we get on a call on what he's come up with.

    With all this finance talk he said he'll have his father co-sign the loan. So the only question now are the terms of the loans and rates. As mentioned he has the social media accounts for this "brand" to match my .com . So he really likes this domain name and wants it. It's not a scam and I've had him checked out. So no worries there. My biggest worry is him being discouraged in not finding financing and calling the whole deal off. So my only option really now is cash upfront plus payment plan for the rest over time.


    I never was against this idea. And as stated over and over again. The buyer seems adamant on giving me the full amount upfront so he can get full control over the domain. Some people want what they want and that's their right. Who am I to question or make them do otherwise. I'm just going along with what the buyer seems to want. If what they want can't happen that's when I'll give them the next best option which is the installment plan.

    I only created this thread here to help my buyer get his desired end result. That's it. Me? I can go either way really. I am not in any way shape or form against the idea of a payment plan. The reason I haven't jumped on that yet is because this buyer seems adamant on paying me in full with a financed loan. Don't ask me why. That's what it is.

    Thanks again for all your kind posts. I consider them all.
     
  23. James Rayers

    James Rayers The Business Name Co VIP ★★★★★★★★★★

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    The only way this will be financed is a personal loan backed by real assets.

    Using your coinmena.com example, the domain has absolutely no liquid value, it was only worth that amount to the one buyer.

    You might want to consider getting Epik or DAN to directly broker this. They can speak to the buyer and explain that installments are common in the industry and carry no risk.
     
  24. 55Domains

    55Domains Top Contributor VIP

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    Just take the 30k, celebrate, and take the rest on a payment plan. All via Epik. Its that easy, done.

    Or are you really inisting on all the cash upfront when you should be doing a happy dance to even get offered more than 4 figs?
     
    Last edited: Nov 22, 2020 at 1:28 PM
  25. Mike Goodman

    Mike Goodman Established Member

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    Another thread which has run its course and is now attracting those who either don't have time or are too idle or self-important to read what has already been said. Just pile in and repeat regardless.

    I really enjoy getting flagged for worthless posts in threads I am taking an interest in. Not. So I won't be following this one any further.
     

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