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

[WhoaDomain.com]

Hello,
I have a deal for $50,000 for a domain.

The buyer has $25,000 cash but needs to finance the rest $25,000.

We tried @Lendvo Domain Financing and they seem to be dragging their heels and now I contacted them @domaincapital

Does anyone know some other options? thanks in advance.

 

[gilescoley]

Lets see how this all pans out. It all seems a bit odd to me.

 

[cornell]

WO, Big Tranaction

 

[FolioTeam]

Lets see how this all pans out. It all seems a bit odd to me.

Too many red flags in my opinion

 

[WhoaDomain.com]

Too many red flags in my opinion

red is a very lucky color to Asians. Lol

 

[ThatNameGuy]

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

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 Of course this was said in jest, but every word of it is true.

And who said this business isn't more fun than LaughInncom.

 

[WhoaDomain.com]

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 Of course this was said in jest, but every word of it is true.

And who said this business isn't more fun than LaughInncom.

lol

 

[ksusha64]

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

 

[WhoaDomain.com]

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

everybody is a comedian! lol thanks!

 

[UncleBrand]

@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

 

[Mike Goodman]

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.

 

[AEProgram]

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.

 

[WhoaDomain.com]

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.

 

[jamesau]

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.

 

[55Domains]

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?

 

[Mike Goodman]

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.

 

[frank-germany]

Sorry guys just read all your replies. The domain is a two word domain. Not sure yet if buyer wants sale announced.

so of course I’d like the amount in full so I can just hand over the domain done and done. I really hate the long drawn payment plan option. Spoke to buyer. He told me @Lendvo Domain Financing is dragging things.

Then contacted @domaincapital and they said they would get back to me.

buyer is willing to do $30k cash wired to me and make installment payments of what he would have paid lendvo. Not sure if I should tack on interest like lendvo probably would have. Not even sure what the typical interest would be in such a loan.

Buyer seems to trust me since I have over 19,000k+ followers on LinkedIn and told him I wouldn’t jeopardize me rep with stealing money or cheating anyone. So it’s not like I’ll take the money and disappear tomorrow. Of course an agreement will need to be made on the terms and conditions and payment plan.

The domain is with @Epik.com @Rob Monster

So yea I do want the $50k upfront I have plans to develop a domain or domains I own so my business/hobby pays for itself as far as renewals.

I want to start a domain auction site with one particular “gimmick” that I think will make it unique and a total killer.

but we shall see.

this domain once paid for will be like how CoinMena.com was the most expensive domain sold for keyword “mena”. This domain will be the highest domain ever sold for this particular keyword. The highest right now for this keyword is $25,000.

can’t wait to tell you guys if I can if the buyer allows me. He probably will. He likes the idea.

and yes it’s a handreg!

I really don't see your problem

just take the $30K USD and the monthly installments

you are not an easy to deal with person...

 

[poweredbyme]

- Take the upfront and some collateral for the remainder.
- Take the upfront and barter for the remainder.

 

[Super-Annuation]

1) You could suggest he obtain funds from their retirement account in order to start or buy a business without incurring an early withdrawal fee or tax penalty. This is not a loan.

2) Low interest redraw facility on his property, managed funds etc.

3) Take out a business loan (many banks match the deposit) and enjoy the tax advantage of the debt being tax deductible.

4) Offer lease to buy.

5) Have them offer collateral and draw up a contract.


Hope this helps.

 

[karmaco]

So are you going to let us know what happened @WhoaDomain.com ?

 

[GreatBrand.in]

It is interesting discussion when Buyer is insisting for 50% payment plan and unable to get from respective Banks and we all are suggesting seller @WhoaDomain.com to set Escrow account, payment plan, reduce price and all.
Beyond that Buyer is interested on this domain and willing to pay $ 50K, here I observed two missing links and could be resolve by educating buyer:

1. It seems Buyer is interested in a tax benefit and thus wanted to have $25K Loan on his bank account or company's book of account. The reason is unknown but could be some profit set-off, tax-saving tool or getting some benefits announced by the Govt due to ongoing economical crisis or anything. As we all are approaching towards the year-end, the big loan in one go will only suffix this requirement. As we all knew payment installment options will continue this year to another 2-3 years depend on payment tenure which seems he doesn't want.

2. He is not aware of how domain installment system through Escrow or other specialized agency works and finance. He wants absolute control from the day which anyway he will get in Escrow too.

Now if we consider these two assumptions we will be able to find a suitable solution for this case. However, the alarming signal is that he is not able to secure funding from his own preferred bank. If it is a normal procedural delay from the Bank/ Funding agency side than I would like to congratulate @WhoaDomain.com in advance for such big deal as it will be automatically clear by the financial company on or before 15 December 2020 before the closing of this financial year as the buyer will not take this loan next year.

So congrats and best wishes for many more future deals