legal Balance of payments issue from leading industry domainer/broker Kevin Leto

[KRL]

James got his Jan payment on January 25

His clients got their payments on January 8 and January 16th

So what we're doing next is his Feb Payments and then this months payment

Kevin

 

[A D]

I have changed the thread title to better reflect the situation.

"Balance of payments issue from leading industry domainer/broker"

-=DCG=-

 

[razorblade]

I have changed the thread title to better reflect the situation.

"Balance of payments issue from leading industry domainer/broker"

-=DCG=-

I think that is more accurate and have to apologise for the sensationalist headline.

However, I dont believe I ever deserved to be treated in the way i was treated over the last six months and certainly not for the last two months - especially that I made it very clear to Kevin that I was relying on that income to see me live month to month.

I know I never would ever treat anyone this way let alone someone who started out in such a positive manner.

 

[KRL]

Apology accepted James.

Kev

 

[TheLegendaryJP]

So.... I still am not sure where this rev. is coming from, I asked for an example of a site, can anyone share where funds flow from.

 

[eeedc]

So.... I still am not sure where this rev. is coming from, I asked for an example of a site, can anyone share where funds flow from.

I have never dealt in the traffic/revenue part of the business, but it does not seem like it would make financial sense that a domain earning $120 in year one, enough to pay back $100 plus $20 interest, could be often bought for $100 (less than 1 times yearly earnings) if the domain was going to earn money in year 2, year 3 and so on? That’s even worse than expecting a 20% risk-free interest rate.

 

[TheLegendaryJP]

True. even if the domain was expected to be flipped its still a long shot at best. Promising 20% and accounting for profit for yourself... not possible.

So I am still curious, is this simply a loan with domains attached to justify the loan or are they the product, its all very odd to me. Why would anyone involve domains at all if thery were gaur 20% not based on those specific names, there was no collateral and the guy has to take money out of his pocket at the end of the day. Isnt that just a non secure loan you hope gets paid bacl with interest?

 

[lordbyroniv]

Everyone knows the domain market is no longer as liquid as it used to be, so it takes longer to pull out cash from your
portfolio these days, unless you want to sell your domains for pennies, which is ridiculous. The dollar is declining in value every day.
Most domainers have wisely moved out of cash investments and gone into commodities, domains for the long term, and the like. So when
you want to cash out domain assets for funding things you have to allow for a longer time. I told you I was re-capitalizing that division
with some domain sales.

Kevin

Times have surely changed from the go-go days

 

[KRL]

So.... I still am not sure where this rev. is coming from, I asked for an example of a site, can anyone share where funds flow from.

Josh the beta application of the concept was based on small domains. Now take the core premise of the idea's domain seller
solution out of the box and scale it up to the major domain level with a couple twists of the flow and income payments structure
and you'll see how this could be an innovative way to make the major one word domains with "big ticket" price tags way more sellable to end users.

hint >>> Think on each party's needs and objectives.

Wall Street Funds >>> Major One Word Domain Owners >>> Corporate End Users

 

[TheLegendaryJP]

Josh the beta application of the concept was based on small domains. Now take the core premise of the idea's domain seller
solution out of the box and scale it up to the major domain level with a couple twists of the flow and income payments structure
and you'll see how this could be an innovative way to make the major one word domains with "big ticket" price tags way more sellable to end users.

hint >>> Think on each party's needs and objectives.

Wall Street Funds >>> Major One Word Domain Owners >>> Corporate End Users

Oh boy, I think Ill just let this one alone.

 

[Theo]

I have a great biz opp to offer too; investing in plutonium cores in Japan

 

[eeedc]

True. even if the domain was expected to be flipped its still a long shot at best.

Even with a flip, paying out 12% of the “sales” price every month seems extremely risky to me. If you bought a house for $100K with the intention of flipping it, you would want a balloon payment of the principal in 6 to 12 months when the house was sold – not having to play $12,000 every month even if you had some rental income.

 

[Nameable]

I also lost money to Kevin on the fixed income domains. If you lost money in this "arrangement," please pm me with the domain count, dates of purchase, and total lost.

We are working on figuring out how many people have been burned and how big the problem is.

You should have proof of the payments you made to Internet Advertising LLC and emails documenting your purchases. You do not need to send me the documentation immediately, but please be sure to retain it indefinitely.

Please forward a link to this thread, and this post to anyone else you know who has bought these fixed income domains from him.

 

[A D]

I also lost money to Kevin on the fixed income domains. If you lost money in this "arrangement," please pm me with the domain count, dates of purchase, and total lost.

So, are you claiming this is not an isolated incident?

-=DCG=-

 

[KRL]

I already indicated on the thread it was a very small group of 10 clients that participated.

Everyone got their domains. And the balance of the income is what is being resolved now.

 

[razorblade]

So, are you claiming this is not an isolated incident?

-=DCG=-

Adam,

After all that you have read here, and all the excuses given by him in my facebook pms that I copied and pasted - do you really think this would be an isolated incident? When someone constantly needs to be reminded, begged and basically cry for the monthly payments to be on time and you keep getting the run around with excuse after excuse, lie after lie, late payment after late payment, evry missed payment getting further and further along late payment highwaythen SOMETHING IS VERY WRONG.

AND CANNOT BE ISOLATED. IT NEVER IS.

He has the money to pay me $800 for the last two months or is Kevin Leto on welfare?? I know there is a 'domainer uber club' that stick together when the going gets rough, but now is not the time to make excuses for him.

As the LEGENDARYJP stated - he is at a loss as to try and comprehend what logic there is to Kevins excuses and stated he would rather not get involved any further. Hardly a ringing endorsement......

When I apologised for the sensational headline - Kevin commentated that my apology was accepted. Well, it was not an apology directed at him. It was to you Adam for you having to get involved.

As far as Leto is concerned, I owe him no apology and he owes me money from defaulted GUARANTEED FIXED INCOME DOMAINS.

As yet I have still received nothing from him since you got him to admit that he owes me for two months.......this guy is a disgrace to domaining and so too to those who stick up for someone who has clearly not kept his side of a bargain, nor ever was this designed to be kept upother than to screw god knows how many people for their money by inducing them and myself with offers that were to good to refuse.

I have now been contacted by 3 people who still prefer to keep matters under wraps for the time being.......for how long I am not sure......

 

[Theo]

Unrelated but is Kevin related to actor Jared Leto? I'm a fan.

 

[A D]

I know there is a 'domainer uber club' that stick together when the going gets rough, but now is not the time to make excuses for him.

I am not covering for him, I have never even met the guy.

-=DCG=-

 

[Nameable]

So, are you claiming this is not an isolated incident?

-=DCG=-

It is not an isolated incident.

I will not discuss details of my situation in public, and am currently looking for anyone else who has lost money to him and would like to discuss how to move forward.

 

[KRL]

Hey James I've asked you for a phone call or I'll call you. And you've made more money from me then you sent me so you
are ahead already, so quit distorting stuff.

I've made a lot of people in this industry a lot of money and I'm a good guy not a dirtball. I'm not perfect and some ideas work
and some don't. This one has partially worked, but not to the extent to make it viable going forward the way the marketplace
changed so dramatically.

Most of the clients are at the 1/2 way point and everyone is being sent payments as fast as possible. I'm the one taking the loss
on the deal ultimately so you have no right to be so defamatory in your remarks.

How many times did you call me wanting to market the idea which you thought was brilliant? And what did I say? I wanted to just
keep this beta style until we could see if it was viable to scale up to a larger long term concept.

WTF I'm here working to get things fixed for you and all your doing in return is badmouthing endlessly. You've made your points already.

Chill out and let me get back to work. Your attacks make it only harder to resolve your issue.

---------- Post added at 04:29 PM ---------- Previous post was at 04:28 PM ----------

Unrelated but is Kevin related to actor Jared Leto? I'm a fan.

No idea about that. He's more a musician now than an actor I think.