Logan Flatt.
Domain investor, Logan Flatt, scored a great sale with SmartMonday.com recently.
The busy Texan has been sharing his modus operandi on how he negotiates with potential buyers, and his strategy is already influencing others.
Still, newbies in the domain industry often have the false perception that domain investing is an easy task, without any inherent risk and with high yields.
Not so fast, dude, says Logan Flatt.
In a recent communication with a newcomer to the domain industry, Logan “spilled the beans” about the hard facts of domain investing:
“Dude, if you are in debt and are having financial challenges, stay far away from domain names. Domain names are much too speculative and risky for someone with financial challenges to be engaging in. Even stocks and bonds are much safer.
Remember, 98% to 99% of domain names out of 300 million registered domain names today are completely worthless in terms of selling them to other buyers, either persons or corporate entities. That means only 1% to 2% are any good for making money with. That is a horrible statistic for any asset class in terms of investment. That’s why domain names are not investments — they are speculative assets. You can make a lot of money or you can wind up with a complete loss after you simply let your bad domain names expire worthless.
So, I recommend that you go out into your local economy and find a more simple, less risky way of making money to pay down your debts and get yourself on better financial footing before even considering investing in domain names. You likely cannot handle the total risk of loss right now in your life.
Forget about domain names for now. You need to find a different way to make money to get yourself out of your financial situation. Domain names are NOT “get rich quick”. It takes time, money, and patience. You may not have those right now; perhaps someday you will and you can consider speculating on domain names again.”
And this is some solid advice, that perhaps should be made into a sticky for everyone to see when signing up at domain forums! 😀
