advice You’re not Rick Schwartz. So don’t try to emulate him

[News]

Assuming you did not get in early and don’t have millions in the bank, you shouldn’t try to emulate everything he does.

When you have money you can pass on deals that other people would accept. It puts you in a great negotiating position. Your BATNA (Best Alternative To a Negotiated Agreement) is to just skip the deal and move on.

If $50,000 is a lot of money to you, you’re not in a position to turn down a $50,000 bird-in-hand to pursue a $75,000 offer that might not materialize. (You can substitute the numbers in this example, of course.)..

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[baseballworld]

Having the funds gives you a lot more room to play with.

 

[Tia Wood]

Having the funds gives you a lot more room to play with.

And being in the game super early gives you lot more quality to play with.

 

[Smiles76]

Having the funds gives you a lot more room to play with.

Great point!

 

[Smiles76]

Assuming you did not get in early and don’t have millions in the bank, you shouldn’t try to emulate everything he does.

When you have money you can pass on deals that other people would accept. It puts you in a great negotiating position. Your BATNA (Best Alternative To a Negotiated Agreement) is to just skip the deal and move on.

If $50,000 is a lot of money to you, you’re not in a position to turn down a $50,000 bird-in-hand to pursue a $75,000 offer that might not materialize. (You can substitute the numbers in this example, of course.)..

99% of domain speculators will never have domains of the caliber of Rick Schwartz. Because those that do have those domains are selling at max end users prices in some cases $1 million plus or holding until they die. There is no guarantee that the rules of domain speculation will remain, as much as domain speculators live in a bubble, this is a mode of gambling and there are opponents on the other side who will change the rules of the game sooner than later.

Too often speculators who pat themselves on the back as great business people, but they create little value with domains, if any. 99% of speculators are high risk gamblers, and when you hit great; get the money while you can but keep it in perspective.

 

[Casey L]

Do not invest in US real estate - assuming you did not get in as early as the Native Americans or European settlers, you will never have the funds to succeed

 

[Smiles76]

Do not invest in US real estate - assuming you did not get in as early as the Native Americans or European settlers, you will never have the funds to succeed

Sorry, domains aren't real estate. As much as domainers would like to believe that, it's simply not true.

 

[baseballworld]

Its not so much a time factor but kinda is. There was no where near as many domainers then as there is now. I mean but regardless if your rich enough you can buy whatever name you want for the right price. But being in early did give them a huge advantage when many saw it as too much of a risky investment back then.

 

[DomainVP]

Let me give anyone that reads this some gentile advice; avoid negative people at all costs!

People love telling other people what they can't do, this referenced article is total negative garbage.

Meanwhile people like Mike Mann and Rick inspire people to adopt what works for them in 2017 with both acquisitions and sales.

You can do whatever you put your mind to.

 

[Casey L]

Sorry, domains aren't real estate. As much as domainers would like to believe that, it's simply not true.

 

[biggie]

it's human nature to emulate some aspects of other people, in their environment.

like if you don't want your kids hanging with some other kids, cuz they are bad influences
or you influence your kids to hang with geeks, hoping they will be next social media phenom

the habits, gestures, sayings, etc can all "rub-off" on another, whether they be good or bad for that individual.

and the more those who are being emulated, are held-up as "models of aspiration" for others to achieve....
then it will continue.

imo.....

 

[Kuffy]

Sorry, domains aren't real estate. As much as domainers would like to believe that, it's simply not true.

and Bitcoin isn't cash.

 

[rh2000]

And being in the game super early gives you lot more quality to play with.

#1

Having the funds gives you a lot more room to play with.

#2

 

[Ayodeji]

Know your level and play it smart there. Upgrade your portfolio as soon as you can. You may never make $1 million in sale...or you may on the long run. Bottom line...work on yourself and portfolio... Enjoy your little success...Leave Rick to worry about his $xxx million portfolio or whatever appraisal he is giving it.

 

[baseballworld]

Sorry, domains aren't real estate. As much as domainers would like to believe that, it's simply not true.

There not real estate there more like rental property themselves and we are the renters.

 

[hookbox]

His domaining strategy and his life would be totally different if he didn't have the ability to live off the $100,000 per month that porno.com was bringing in. It is easy to hold onto domains and tell everyone to fuck off when banking 100 grand a month doing nothing.

 

[Smiles76]

If domaining is real estate than the same rules should apply. Rick is selling a domain for $2 million. His renewal rate (property tax) is about $14 a year. A $2 million property where I live in San Diego has a $18,000 a year property tax (renewal fee). If domaining was truly real estate the renewal fees (property tax) would never be a flat rate as is the case with most .com's. They would be based on the value of the name. I bet if domainers had to pay renewal fees based on the value of the name like real estate owners have to pay property tax the market would be far more liquid because the pricing would be more realistic.

 

[Smiles76]

and Bitcoin isn't cash.

If domaining is real estate than the same rules should apply. Rick is selling a domain for $2 million. His renewal rate (property tax) is about $14 a year. A $2 million property where I live in San Diego has a $18,000 a year property tax (renewal fee). If domaining was truly real estate the renewal fees (property tax) would never be a flat rate as is the case with most .com's. They would be based on the value of the name. I bet if domainers had to pay renewal fees based on the value of the name like real estate owners have to pay property tax the market would be far more liquid because the pricing would be more realistic.

 

[UmerK]

Even with the opportunity and funds he had people ignore few important facts, 1) Internet was hardly in its starting days 2) Registering domain was expensive 3) It was a huge gamble.
If you put yourself in his shoes, I doubt most of us would have acquired domains considering internet was in its early days, domains involved a lot of speculation and money required to put into it. Despite that, markets keep changing, you are never late to the party. There's still room in market to join in and make decent profit, the difference might be a big one though.

 

[Lox]

2) Registering domain was expensive
3) It was a huge gamble.

2) It was not expensive - $100 x 10 years = $1000 = 5 years later LLL goes for 10K++
3) It was pre-calculated investment. (reserve ticker symbols, socialize around and wait for the end-user)

(5cents)