interviews Turning an $800 Buy into a $15,800 Sale in 3.5 Months – With Joshua Schoen

[DomainSherpa]

Today’s show features an investor who was less than a year into investing when he picked up a killer keyword that perfectly matched the .io TLD.

And he knew it because the offers came in fast during his first few months of ownership.

Listen in as he shares the entire process he went through to flip the name – from buying, to offering for sale, to fielding offers, to negotiating and closing the sale.

http://www.domainsherpa.com/joshua-schoen-giveio-flip/

 

[drakeholm]

This story hits on a key point. It doesn't meany any name can skyrocket and leapfrog its own value like this. And I wish every domainer client of mine put as much into the development cycle of the domain to correlate to their monetizing expectations.

 

[Leo Angelo]

Interesting - Joshua says that a deal status preference order is:

1. Yes, we have a deal.
2. No deal.
3. Maybe...

As in Maybe is less desirable than No.

Probably a good reminder to always-be-closing?

Congrats on the sale!

 

[1Darko]

This was skilled negotiations from both parties - seller and buyer. Congrats to both!

Big thanks to Michael Cyger and Josh on this great interview!

 

[zurc.net]

Can I get an interview? I bought a name for $150 and less than a month later sold it for $12,500... I should start selling ebooks now!

 

[drakeholm]

Can I get an interview? I bought a name for $150 and less than a month later sold it for $12,500... I should start selling ebooks now!

Great job Zurc! Color me envious.

 

[jstenn13]

Interesting - Joshua says that a deal status preference order is:

1. Yes, we have a deal.
2. No deal.
3. Maybe...

As in Maybe is less desirable than No.

Probably a good reminder to always-be-closing?

Congrats on the sale!

Hi Leo,

It's Josh. I guess I should have prefaced that statement by stating that it depends on where you are in the sales process as to which reply is better. If you send one email to someone pitching a domain for sale and they reply with a "maybe, let me think about it", then that's better than a no. But if you've been going back and forth and back and forth with someone for a while, as was the case with my negotiation of give.io, then the last thing you want to hear is another maybe. After going back and forth a bunch of times, for weeks or months, I'd much rather just hear a firm no so I can move on rather than hear another maybe and have it keep dragging on and on. Hope that makes more sense.

Josh

 

[Lyle]

I love these in depth videos, Always keeps me motivated.