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Short-term investment, 15% interest in 1 month

Discussion in 'Business Discussions' started by rainbowjet, May 3, 2010.

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  1. rainbowjet

    rainbowjet Active Member

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    I need additional funds to purchase a site that has potential to earn 100k a year when fully developed and promoted. Site was auctioned before but ended without a winner, so i contacted the owner and tried to negotiate for the price. He gave me time to procure the amount and I am literally running out of time. If I can not complete the amount by tomorrow, my chance to own the site will be forfeited. Seems everything but Time is conspiring against me. First: My website which i advertised here (please refer to this link) before finally got a qualified buyer. BUT, before we proceed to escrow, he first required me to make certain modifications on the site, which i am currently working on with my designer/programmer...Second: I have just formed a partnership with an American investor for an online venture, but funds won't arrive until at least 3rd week of this month, which act as her initial capital. So I am forced to look for money elsewhere and hope I get lucky.

    I guess by now you know why i came up with this thread's title.

    I consider this an investment because for me buying websites is a business and if you add to the amount used for the acquisition of the property, in essence, you are partnering with me and thus deserve some kind of return for your investment or capital, and I think 15% for such a short-term investment is decent enough.

    Amount needed from you is $12,000 only (via Paypal). You don't know me and I don't know you but it's not reason why we could not do business with each other. We just need to sign a contract to protect us both and ensure that you can take actions against me should i default (I am not stupid to let it happen though).

    So if you think this could be a good opportunity for you to earn on your money without sweating it out, kindly send me a PM.

    Thanks for looking.
     
    Last edited: May 3, 2010
  2. Domain Forum

    Acorn Domains Elite Member

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    IWA Meetup
     
  3. atlas Canada

    atlas Well-Known Member

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    Digipawn.com - run by Rick Latona - will give loans with domains as collateral, can give a decision in hours, and will give much lower rates than 15% per month.
     
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  4. rainbowjet

    rainbowjet Active Member

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    Thanks for the suggestion, atlas. the interest rate is actually irrelevant as long as it gives me what I need at the moment. But i'd rather some member from AD benefit out of this than a large company owned by Rick, who i know is a good guy. :)
     
  5. BG United Kingdom

    BG Well-Known Member

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    $12,000 Investment

    Ricks just a normal guy like the rest of us, his money is just as good as the next man's imo. As you said yourself " He's a good guy and the interest is irrelevent " so regardless of him being a large or a small company your goal is to achieve $12,000, right? If so, I find it hard to believe that you wouldnt be pursuing such a path due to the urgency you require the monies, very strange indeed... especially if you can earn 100K a year its no brainer

    For someone which has only been a member of acorn for a short while and asking for $12,000, I think your chances are very slim, almost non existant infact. When people say things like " You don't know me and I don't know you but it's not reason why we could not do business with each other " - I think 99.9% of members on acorn would agree and say its a great reason NOT to do business with someone... Anyone worth there sort wants to know exctly who they are doing business with, work history, monies, debts, the list goes on...

    I'm not saying that you are... but when reading your request for $12,000 it came across very scammy " pay only via paypal " and the disregarding using Rick Latona because hes a large company, or that you wanted an Acorn member to benefit just doesnt sit right with me - No one in there right mind is going to send $12K via paypal to someone they dont know, escrow.com yeah maybe, but paypal no chance to someone theve never done business with before, not in a million years, not just on a whim

    If you're making a post of this nature in the future i would suggest that you add more details about yourself e.g. background, company directorships, previous ventures, just something which members can grip onto and build a picture from, as what you're offering could be a great opportunity but sadly as i said above something just doesnt sit right for me.

    In regards to drawing up a contract... If the $12,000 is spent and the person borrowing the $12k isnt in a position to payback the funds due to having no monies, assets, or other finances etc, thats of no use the lender, hence why its always good to know who you're doing business and there financial status / assets held ect. Being paid back $50 for the next 240 months as an example wouldnt cut it if that makes sense.

    Sorry if my post seems negative but I'm hoping you can draw from the criticism and produce a better pitch in the future.

    Regards,
    Barry
     
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  6. domainseller200 United Kingdom

    domainseller200 Well-Known Member

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    It is your Lucky day ! I can do better than lending you the $12,000 - I can give it to you for free !

    Read on and find out how

    I received an email this morning saying I had £5.2m from a dying woman in London, all I had to do was send her my bank details which I done this morning.

    Then just literally 10 minutes ago I received an email from Coca Cola of all people, saying I had won £1m in a random internet exercise and I just needed to send them my details also ! (I am assuming they must follow my blog / twitter due to them knowing how much I love Coca Cola)

    So I have an idea, I will not reply to the email, instead I post the email below, so you can reply yourself and then claim the £1m and buy your dream domain ! I would rather give the money to fellow acorn member than be greedy, so below is the email I received so feel free to reply ASAP, as time is obviously a major factor for you in this deal

    Good luck :)

    THE COCA COLA COMPANY (UK),
    INTERNATIONAL CASH DONATIONS,
    {REGISTERS & CLAIM DEPT}
    London fst378,
    United-Kingdom.

    Sir/Madam,

    You have won the Sum of One Million Pounds sterling in the ongoing Coca Cola Promotion United Kingdom.

    Your email address was selected based on an internet random exercize; You have been confirmed one of the lucky recipients entitled to
    receive 1,000,000.00 GBP as CASH DONATION/GRANT from the Coca Cola Company, UK.
    To facilitate the disbursement of this noble donation to you, kindly fill
    the claims requirement form below and send to: cocacolacharity@live.co.uk

    COCA COLA CLAIM REQUIREMENT FORM

    Name:
    Age:
    Sex:
    Occupation:
    Address:
    Country:
    Mobile Number:

    CONGRATULATIONS TO YOU FROM THE COCA COLA COMPANY, UK.

    Yours sincerely,

    Grace Richter [MRS]
    Donation Program Director,
    United-Kingdom.
    Tele:00447031857928
    Fax: 00448447742563.
     
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  7. kendalcottages

    kendalcottages Active Member

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    ...and don't forget to make a donation to AD to acknowledge the above poster's generosity. ;)
     
  8. rainbowjet

    rainbowjet Active Member

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    BG, your thoughts and suggestions are well-appreciated. Thanks. I just have a legitimate need, that's all. But you got a point.

    Domainseller: That's funny. I just talked to a supposedly loan-guy who wants to extract $790 from me first before releasing the money. Am i so stupid? Tired of this scams as all of you are. ((His name is Leonard Lazarus from some ATLANTALOANS, so beware)).

    Kendall: I WILL. ;)
     
    Last edited: May 4, 2010
  9. Edwin

    Edwin Well-Known Member

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    So what you're saying is that you're looking for a $12,000 loan with no collateral to back it? Perhaps it's worth googling "unsecured loan" as there are a lot of ads for the term, including some that offer up to 25,000 pounds and a 30 second decision process. So if your offering makes sense, you should have no trouble at all getting a loan through on of those sites.
     
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  10. namealot United Kingdom

    namealot Well-Known Member

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    Do you have any collateral whatsoever e.g. car, house, jewellery, bonds, stocks shares, land, art anything with a value...?


    Allthough you send instantaneously paypal can take up to three days to transfer to the recipients bank account? From the uk you would be better with "FPS" is instant a few hours, The three-day "BACS" and same-day "CHAPS" schemes are still available.
     
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    Last edited: May 4, 2010
  11. rainbowjet

    rainbowjet Active Member

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    Edwin, I have tried searching for such sites last night, but seems i would have difficulty getting those loans because of what namelot has just summarized here: collateral. Honestly, I don't have those except for online properties like domains and (2) websites. Digipawn could be an option but i heard they're appraising way too low than your domain's worth, i don't know.

    I talked to my upcoming partner-investor few hours ago and the best she could do is within the week or next week and we're still in the early part of the week, I'm afraid i will lose the site by then. I hope you see where I'm coming from...I also could not reveal some specifics on the business because if i managed to find the amount, owner and I will sign an NDA. If you ask for collateral, i can't give any other than those mentioned above, but if you want guarantee, I can give you 200% based on the 2 factors given in the first post, especially the second one.

    Thanks for the advise, guys.

    Namelot, i think you already got your answer here. Thanks for expressing your interest on this thread and via PM.

    Sorry, it's BG not Barry (hey, he looks like someone from the movies). :p
     
    Last edited: May 4, 2010
  12. Edwin

    Edwin Well-Known Member

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    Another alternative would be for you to pay a "retainer" to the person selling the site. For example, offer them $1,000 to let you buy the site at the agreed price for the next 14 days. It must be a "no strings attached" deal i.e. that's money is theirs to keep even if the sale later falls through because you can't get funding. Then you have to pay the balance of the deal (i.e. $x - $1,000) within the agreed time period to close the sale.

    I've done that a couple of times for large domain purchases, especially if the seller was wavering ("I can have the deposit in your account within the hour" clinched at least one very key mid-xx,xxx deal for me). If the up-front retainer is a "serious sounding" amount and you keep the deadline for paying the bulk of the money short, it definitely has a chance of working.

    The advantage is that you'd only have to put in $1,000 of your own money (if you go with the amount I gave in the example) rather than have to keep scrambling for loans that realistically you're just NOT going to be able to persuade anyone to give you.

    Downside: $1,000
    Upside: You get the site (which you've valued at 100k/year)

    Up to you to work out whether the reward is worth the risk.
     
    Last edited: May 4, 2010
  13. bensd United Kingdom

    bensd Well-Known Member

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    If you are going to pay them back in a month what does it matter?
     
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  14. doodlebug United Kingdom

    doodlebug Retired Member

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    I want a domain for 2k but don't have it upfront, my idea was for someone to buy the domain and I pay them weekly with interest, as security then they keep the domain registered to theirselves until I finish paying and on the final payment they transfer the domain to me.

    I use it for the time being, as in the IP address points to my host.

    If anybody wants to do this then contact me.

    The domain I want is a wide searched product with nice UK exacts, the reason I want it is because with my collection of generics with 1k to 9k UK exacts isn't worth putting my time and money into, I want 1 site which I can put everything into and use some of that traffic to feed through to my lesser search generics.

    If anyone wants to loan me 2k with the domain as collateral then that would be nice :cool:
     
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  15. domainseller200 United Kingdom

    domainseller200 Well-Known Member

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    A much more realistic and viable way to do it doodlebug :)
     
  16. philipp United Kingdom

    philipp Active Member

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    That's not something you read everyday! It doesn't sound like you're thinking this through carefully enough.

    Since the domain didn't actually sell at auction, how can you be so sure that you're not over-valuing it?

    As far as I can see, the only disadvantages of getting a loan from a 'big' company is that they'll have the resources to pursue in the event of a default.

    Cheers,

    P.
     
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  17. rainbowjet

    rainbowjet Active Member

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    doublebug, are you trying to be funny? :)

    phillip: sometimes you're willing to pay more to get something that you really want.
     
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  18. pugyrob United Kingdom

    pugyrob Well-Known Member

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    If you have a true find, then there will be someone who will work something out but no one is going to paypal you $12,000!!!!!. I mean seriously......

    It does sound to me that you are overvaluing this name though or maybe it's not a bargain. Offer them payments spread over a year using escrow.com or a deposit as previously mentioned.
     
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