discuss So you have some names with potential but no money to renew?

[alcy]

just an idea for now.. been thinking about this for a while.. partly because i see others with similar problem and partly from my own past experiences where I may have had some decent nmes which I thought had potential but had to drop them due to life events not letting me put money into domaining.. or just overall profits for that year or moment from domaining, being lower or in the red or what not.. we all have our stories and experiences i guess.

that being said.. I would be looking for people to help setup and or participate in a project whereby we would create a site for anyone to come offer any number of their domains (or entire folios) which for whatever reason they cannot renew but believe in their potential... so these names would be offered for consideration of other members/investors on the site... anyone who also believes in potential of the name.. can then click on it... and finance/sponsor/renew this name for 1 year.... by providing the funds.. the options would be to sponsor it 100% or enter % he wants to sponsor... people can do this for any names on the site for all owners... if he enters only % of the renew price.. then the name remains onsite for other members to sponsor until 100% of renew cost is collected.

once 100% is collected.. the members who sponsor are asked to forward funds to site owner(s)... the dn owner is asked to transfr name to site owner(s) escrow for 1 year holding... then site owner renews name.. of course the name of game is still to make sales.. so duirimg that year the domain will be offered for sale on markets.. and sale lander agreed upon would be also used... if sale is made.. then somehow profit is shared.

of course this is all very rough outline.. with many options here.. i'd love to hear your views or if you'd like to beome serious about project...

this is NOT a project whereby dn owner gets a loan against his domains... i think this here is even more exciting and can help domainers in many ways!!!

there can be many variants... possibilities... it can also be particularly useful and helpful for ngtlds with somewhat greater renewal fees... or even for the very popular .io... with solid sale potentials... and yet a rather heavy 30$ renew cost..

plz feel free to share thoughts. good or bad!

 

[alcy]

What if you "sponsor" a domain & they run off with a renewed domain...

hi there.. good quesiton..as i mentioned in one of posts above.. the site will act as escrow for both the domain owner.. and the sponsor(s)... so running away with name.. or declining or acepting offers will not be done by sponsor or domain owner. otherwise as you said, none of this could really work. in fact the very act of transfering (ie: providing auth code) domain into sites escrow will be its renewal part... cheers.

 

[alcy]

the basic site terms would be roughly:

- domain collects 100% of renew costs from sponsor(s)
- sponsors are asked to submit pyments (cryptos would be amaing here, as some amounts could be small, so minimzing fees and maximizing speed would be best)
- once all payments submitted, domain owner who previously agreed to what follows by submitting his name, will provide auth code for site to begin transfer as part of escrow. this transfer cost will of course be the renewal in question. if owner fails in his agreement to provide code, he is banned from site (like a nonpaying buyer or nonselling seller) and the sponsors funds are refunded.

then many options are possible.. if offers come in, site contacts owner/sposnsors to discuss asccepting offer.. if both agree to accept then we accept.. if both agree to decline and wait more, we all wait.. if one wants to sell the other does not.. then for instance the site will have the last vote... again, all based on previously accept terms prior to all this.

but this is up for debate.. im just givin some examples.

of course the sale woudl greatly and maybe mainly rely on redirect to sale lander of some sort... one designed specifically for the site for example.. but we all want to maximize chance of sales so therefore the domain would be listed across various markets... it would be up to owner to remove it from markets if he had it listed.. which is not a guarantee. but if bin is placed on his old listinhg, or offers made, he won't be able to sell name as it is owned by the site's escrow, as per terms he agreed to. so ideally yes to maximize sales, the domain would have to be removed from markets.. but if it remains there, it will not affect the process of sponsoring etc..

 

[creataweb]

Interesting ideas but a couple of questions for everyone:

Who has oversight of the project & process?

What sort of legalities are there to sort out?

There was a group awhile back started by restricted member of NP @ BaseballWorld but he "allegedly" ran off with the money and domains, so def. would need some way to avoid that.

I think once terms like "investors" and "escrow" are used there are some legal hurdles involved.

 

[alcy]

Interesting ideas but a couple of questions for everyone:

Who has oversight of the project & process?

What sort of legalities are there to sort out?

There was a group awhile back started by restricted member of NP @ BaseballWorld but he "allegedly" ran off with the money and domains, so def. would need some way to avoid that.

I think once terms like "investors" and "escrow" are used there are some legal hurdles involved.

good poiints. if my idea ever becomes a site... then there could be some things to work out... i just used the word escrow to describe a holding process.. i am not sure if this process would imply becoming a licensed escrow company like escrow.com .. i guess its something to look into if ever this realizes itself.... as for investors.. well we are all domain investors here... i think having specific terms on the site which outline the process and then yu have to agree, would be enough... its how most sites function.. they set their rules and you agree to them or not... whether its here or elsehwere.....

i do not quite remember what the other np member offered or did.. but I don't think it was a similar project to this.. nor are you or me or most np members here to trick or cheat others, so maybe we shouldn't approach everyone as if they were.... but i do get your concern .....

 

[JB Lions]

Some pawn shop back in the day has my VCR because I was buying too many Shaq rookie cards. Jordan RC were $2,000 a pop at the time.

This and some recent threads on loans tells me people are not handling their money correctly, disorganized etc.

If you get a sale, instead of buying new domains first, handle your renewals first, then buy new names. I think it was Buffet or somebody that said most pay their bills first, then spend on luxury, entertainment items, then if money is left over, savings. When it should be bills, put money into savings, then the luxury, entertainment items.

Why not old school it and simply have a yard sale, or use one of the many sell your stuff apps. Take that money and use on renewals.

Why not just sell some names here, even it you have to eat it, to get by on renewals and then learn from it.

This stuff seems it will drag people in to some never ending cycle of borrowing, getting loans etc on your domains. Usually not a good outcome.

But to each his own.

 

[creataweb]

Re-reading thread (maybe I misunderstood some of it)

 

[alcy]

this wouldn't be a small project for sure... im just throwing some ideas out there.. some like it some do not... but judging how many people viewed this thread in one day... just based on title.. cause thats why you click.. then I think there may be a whole bunch of people in a situation where they'd like to keep more domains than they have money to renew.

this would just let people who see potential in similar names come together and help easch other make some sales. could be fun ...exciting.. and potentially profitable at same time

 

[NameFit]

This is feasible if the third party (besides owner / sponsor) is actively involved. Third party could be the site managing this.

Following steps may be needed.

1. Both parties (buyer /sponsor) set the minimum price of the domain. If they do not come to agreement, then it does not proceed.

2. If it proceeds, current owner and sponsor give control of the domain to the 'third party' (of course there is legal agreement between three). Third party does all the marketing, decides the price (above the minimum price set forth by buyer / sponsor) and makes an effort to sell the domain. Buyer and Sponsor can bring in the leads but they do not control marketing or price. Though the third party has not made investment in the domain, it is in their best interest to make the sale to keep the model going (site going).

3. If it gets sold within agreement period, then based on agreed %, they share the sale proceeds (One third for each is reasonable). If the agreement period is over and domain is not sold, the domain goes back to original owner.

Of course, many questions, major one being, what if the third party folds up. Couple of ways it can be handled, third party can use some domain holding service (there are some like C/S/C Domains for corporate clients) or may be this is the opportunity for trusted established players for this type of business.

Thoughts?

 

[WatchDogue]

A few well intended questions that are quite likely to arise with some- not all - domain name owner / investor arrangements:

As the year long investment / sponsor agreement is coming to an end - can the registered owner of the domain name decline to let the investor / sponsor continue with their investment in the name after the first year's sponsorship?

What happens if the name owner declines an offer during a " sponsored year " then, lets the agreement with the investor / sponsor expire and then the name owner negotiates & sells the name with no funds going to the now former investor?

How will the domain name's registrar " work with " the parties in the inevitable dispute some - not all - owner / investor tandems will encounter - most likely the registrar will simply deal only with the party whose name appears as the registrant leaving the investor out of that important loop?

I believe your idea has some merit and potential although there are numerous potential pitfalls in an owner / investor relationship that would require meticulous attention to details.

 

[BrandAptly.com]

just an idea for now.. been thinking about this for a while.. partly because i see others with similar problem and partly from my own past experiences where I may have had some decent nmes which I thought had potential but had to drop them due to life events not letting me put money into domaining.. or just overall profits for that year or moment from domaining, being lower or in the red or what not.. we all have our stories and experiences i guess.

that being said.. I would be looking for people to help setup and or participate in a project whereby we would create a site for anyone to come offer any number of their domains (or entire folios) which for whatever reason they cannot renew but believe in their potential... so these names would be offered for consideration of other members/investors on the site... anyone who also believes in potential of the name.. can then click on it... and finance/sponsor/renew this name for 1 year.... by providing the funds.. the options would be to sponsor it 100% or enter % he wants to sponsor... people can do this for any names on the site for all owners... if he enters only % of the renew price.. then the name remains onsite for other members to sponsor until 100% of renew cost is collected.

once 100% is collected.. the members who sponsor are asked to forward funds to site owner(s)... the dn owner is asked to transfr name to site owner(s) escrow for 1 year holding... then site owner renews name.. of course the name of game is still to make sales.. so duirimg that year the domain will be offered for sale on markets.. and sale lander agreed upon would be also used... if sale is made.. then somehow profit is shared.

of course this is all very rough outline.. with many options here.. i'd love to hear your views or if you'd like to beome serious about project...

this is NOT a project whereby dn owner gets a loan against his domains... i think this here is even more exciting and can help domainers in many ways!!!

there can be many variants... possibilities... it can also be particularly useful and helpful for ngtlds with somewhat greater renewal fees... or even for the very popular .io... with solid sale potentials... and yet a rather heavy 30$ renew cost..

plz feel free to share thoughts. good or bad!

This is a very interesting concept. It will be my pleasure to participate in some capacity...even if it's just brainstorming and fleshing out the framework. I find the perspectives of all the participants in this discussion also very insightful.

The devil is always in the details. I foresee a lot of moving parts that will have to be covered under a thorough contract addressing various possible scenarios.

Hypothetically speaking, let's look at a situation where someone lists a great domain with a renewal fee of $20. I then opt to renew the domain for 2 years. A year goes by with the domain not selling. The original lister finds themselves out of the red and wants to reclaim the domain. How will the financial logistics work out?

 

[alcy]

This is a very interesting concept. It will be my pleasure to participate in some capacity...even if it's just brainstorming and fleshing out the framework. I find the perspectives of all the participants in this discussion also very insightful.

The devil is always in details. I foresee a lot of moving parts that will have to be covered under a thorough contract addressing various possible scenarios.

Hypothetically speaking, let's look at a situation where someone lists a great domain with a renewal fee of $20. I then opt to renew the domain for 2 years. A year goes by with the domain not selling. The original lister finds themselves out of the red and wants to reclaim the domain. How will the financial logistics work out?

tnx for input. as you say many things to work out there would be.
your example is good. i was thinking more 1 year renewal at most. maybe that wuld solve your particular question? but whether 1 year or 2 years.. the domain owner would obviously be asked to legaly agree to the contract terms (the usual few checkboxes).. whereby it would not be possile for him to reclaim the domain.. whether its during 1 or 2 year renewals.

cheers.

 

[BrandAptly.com]

tnx for input. as you say many things to work out there would be.
your example is good. i was thinking more 1 year renewal at most. maybe that wuld solve your particular question? but whether 1 year or 2 years.. the domain owner would obviously be asked to legaly agree to the contract terms (the usual few checkboxes).. whereby it would not be possile for him to reclaim the domain.. whether its during 1 or 2 year renewals.

cheers.

This is the very brainstorming process I was alluding to. It will entail drumming up several hypothetical scenarios and addressing them appropriately.

Limiting the renewal timeframe may be prohibitive. Let's look at a scenario where I want to invest in a speculative domain in a budding niche that will thrive in say 3-4 years down the road. It will be advantageous for me to renew the domain for 5 years to ensure that I am locked in to reap the benefits when prices soar.

Let's look at yet another scenario where MR. X renews a domain for 1 year. Mr. Y, seeing the opportunity, decides to get in on the action by extending the renewal for another 2 years. What will the compensation breakdown look like for all the parties involved (including the facilitating company) when the domain sells within 6 months?

The wheels in my head are turning.

 

[Josytal]

just an idea for now.. been thinking about this for a while.. partly because i see others with similar problem and partly from my own past experiences where I may have had some decent nmes which I thought had potential but had to drop them due to life events not letting me put money into domaining.. or just overall profits for that year or moment from domaining, being lower or in the red or what not.. we all have our stories and experiences i guess.

that being said.. I would be looking for people to help setup and or participate in a project whereby we would create a site for anyone to come offer any number of their domains (or entire folios) which for whatever reason they cannot renew but believe in their potential... so these names would be offered for consideration of other members/investors on the site... anyone who also believes in potential of the name.. can then click on it... and finance/sponsor/renew this name for 1 year.... by providing the funds.. the options would be to sponsor it 100% or enter % he wants to sponsor... people can do this for any names on the site for all owners... if he enters only % of the renew price.. then the name remains onsite for other members to sponsor until 100% of renew cost is collected.

once 100% is collected.. the members who sponsor are asked to forward funds to site owner(s)... the dn owner is asked to transfr name to site owner(s) escrow for 1 year holding... then site owner renews name.. of course the name of game is still to make sales.. so duirimg that year the domain will be offered for sale on markets.. and sale lander agreed upon would be also used... if sale is made.. then somehow profit is shared.

of course this is all very rough outline.. with many options here.. i'd love to hear your views or if you'd like to beome serious about project...

this is NOT a project whereby dn owner gets a loan against his domains... i think this here is even more exciting and can help domainers in many ways!!!

there can be many variants... possibilities... it can also be particularly useful and helpful for ngtlds with somewhat greater renewal fees... or even for the very popular .io... with solid sale potentials... and yet a rather heavy 30$ renew cost..

plz feel free to share thoughts. good or bad!

Nice idea. Not a cakewalk, but feasible. It can even be extended to co-financing purchases of expensive premium domains.
At last, domainers are thinking for themselves.
Count me in.

 

[7363824]

Some pawn shop back in the day has my VCR because I was buying too many Shaq rookie cards. Jordan RC were $2,000 a pop at the time.

This and some recent threads on loans tells me people are not handling their money correctly, disorganized etc.

If you get a sale, instead of buying new domains first, handle your renewals first, then buy new names. I think it was Buffet or somebody that said most pay their bills first, then spend on luxury, entertainment items, then if money is left over, savings. When it should be bills, put money into savings, then the luxury, entertainment items.

Why not old school it and simply have a yard sale, or use one of the many sell your stuff apps. Take that money and use on renewals.

Why not just sell some names here, even it you have to eat it, to get by on renewals and then learn from it.

This stuff seems it will drag people in to some never ending cycle of borrowing, getting loans etc on your domains. Usually not a good outcome.

But to each his own.

I agree. Part of any business is managing your cash flow. If you cant pay your renewals that's the symptom not the cause. The cause is either as you said poor cash flow management or maybe lack of cash flow due to poor inventory. In either case there are already options including liquidation. But that is not a sustainable model if you find yourself with this problem you need to fix the root cause, not just get a loan and ignore the rest.

 

[Maximinus]

just an idea for now.. been thinking about this for a while.. partly because i see others with similar problem and partly from my own past experiences where I may have had some decent nmes which I thought had potential but had to drop them due to life events not letting me put money into domaining.. or just overall profits for that year or moment from domaining, being lower or in the red or what not.. we all have our stories and experiences i guess.

that being said.. I would be looking for people to help setup and or participate in a project whereby we would create a site for anyone to come offer any number of their domains (or entire folios) which for whatever reason they cannot renew but believe in their potential... so these names would be offered for consideration of other members/investors on the site... anyone who also believes in potential of the name.. can then click on it... and finance/sponsor/renew this name for 1 year.... by providing the funds.. the options would be to sponsor it 100% or enter % he wants to sponsor... people can do this for any names on the site for all owners... if he enters only % of the renew price.. then the name remains onsite for other members to sponsor until 100% of renew cost is collected.

once 100% is collected.. the members who sponsor are asked to forward funds to site owner(s)... the dn owner is asked to transfr name to site owner(s) escrow for 1 year holding... then site owner renews name.. of course the name of game is still to make sales.. so duirimg that year the domain will be offered for sale on markets.. and sale lander agreed upon would be also used... if sale is made.. then somehow profit is shared.

of course this is all very rough outline.. with many options here.. i'd love to hear your views or if you'd like to beome serious about project...

this is NOT a project whereby dn owner gets a loan against his domains... i think this here is even more exciting and can help domainers in many ways!!!

there can be many variants... possibilities... it can also be particularly useful and helpful for ngtlds with somewhat greater renewal fees... or even for the very popular .io... with solid sale potentials... and yet a rather heavy 30$ renew cost..

plz feel free to share thoughts. good or bad!

Why not just calling this Subprime domains?

 

[alcy]

thnks for all your comments folks..
they were all great... as expected, some poeple like the idea some think its outrihgt bs.
its not a piece of cake to implement... but.. it could be a nice project!

in the end, perhaps this idea is not all so much different from doamin catching services and backorders... as it would also allow for some domain investors to preserve the ownership of a domain... based on what they believe is the resale potential and value of such a name... of course the mechanism is much different than backorder... but the principle to get a given domain, and become its owner for a year.. or more.. remains similar... its just that this would all happen within the normal pre expiry or shortly past expiry, domain lifecycle... and not much later on, when backorders can occur etc.

cheers all.

 

[lock]

365 days vs domain quantity quality and budget. If dropping good names mission failed. I see how your trying to pool the idea so are others with pooling liquid domains.

 

[alcy]

365 days vs domain quantity quality and budget. If dropping good names mission failed. I see how your trying to pool the idea so are others with pooling liquid domains.

well not all names that being backordered are liquid. often they're just names tat various investors see as names with potential and believe can sell... which is basically the essence of my idea for this service here.

as said before, no one would come to my site if it ever gets made, to offer a liquid name like 3L.com or something. thats no brainer