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Buying Domains On Credit

Chris.C

Top Contributor
I was just wondering if anyone here buys domains on credit? or if they have borrowed heavily to develop their domains?

What are people's thoughts on doing so?
 

Snooks

Top Contributor
Buying domain names on credit is no different from buying any other asset on credit, it has both good and bad points.

Credit can be a great tool as long as you are buying assets that do not devaluate quickly, such as the latest commodore, that flashy new overpriced computer, etc.

Just use commonsense.
 

Oz.

Top Contributor
My company credit card has often been my venture capital - as long as you are smart about it, they can be very useful.

Also I've been known to dip into my homeloan (with offset account) once in a while. More of a headache for book keeping though.
 

snoopy

Top Contributor
Did a lot of this when I first started out. Make sure the model works before you spend much though.
 
Could be a good idea, it is worth discussing with your accountant, as interest may be tax deductible on an income producing asset.

Many people I see borrow to set up their website / business, some are more successful than others, the focus needs to be on the business plan before you get to hung up on anything else
 

snoopy

Top Contributor
Surprised at this comment from you .......maybe it was a .tv thread where you were suggesting not to use credit cards ??

Actually I think I also said not to use cheques, bank deposits or cash in regards to .tv.

Could be a good idea, it is worth discussing with your accountant, as interest may be tax deductible on an income producing asset.

Many people I see borrow to set up their website / business, some are more successful than others, the focus needs to be on the business plan before you get to hung up on anything else

Should be no problem as long as it segregated from non business purchases.
 

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