Rick Schwartz posted on X his plans for his 30th year in the business. Rick shares insights to his story over the past 30 years and makes the case for power of domain names.
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As I begin my 30th anniversary year, this is the statement I plan to make consistently. It’s how I’ll make the case for the exceptional value and power of domain names and at the same time, tell my own story.
Because nobody else is going to do it but me. What I’ve done with domains is the same as a landlord owning 1,000 apartments for 30 years, pocketing $100M in rent and still holding the buildings worth hundreds of millions more.
The difference is, his overhead runs into millions for taxes, insurance, management, and mortgages, while mine is just $75K a year in renewals. I built this with a zero dollar investment, no employees, no debt, and no payroll. So I built the empire of a mega-landlord, but I did it without tenants, toilets, taxes, mortgages or 3am phone calls…and I did it in my fucking bathrobe.
His trash removal costs are more than my entire overhead!! And here’s the twist: I’ve since parlayed a lot of those dollars into real estate myself, so I know exactly what it takes on both ends. And here’s the part nobody factors in: I describe myself as an efficiency expert.
My phone barely rings. I don’t leave my front door. When I wake up, I don’t have a job to do, I get to focus on my next revenue stream, or a vacation, or whatever the hell I decide that day.
That freedom is priceless.” And let’s drill down a little bit deeper on the headache section of being a landlord. 3 AM calls, burst pipes, no heat, broken locks, emergencies.
Tenant damage, ruined carpets, holes in walls, trashed kitchens/baths. Appliance churn endless replacements of stoves, fridges, washers. Vacancies: months of zero rent, plus cleaning and repainting. Evictions: legal fees, lost rent, messy court battles.
Headaches! Property taxes & insurance rise every year, whether the units are full or not. Management fees: 10–15% off the top, and the headaches still reach the owner.
I rest my case!!
May The Schwartz Be With You!
Rick Schwartz is just the best guy in the biz. He doesnt know me from a bar of soap but every few years I ask his advice by email and he happily gives genuinely great advice. Always love hearing his thoughts every time he posts.
It’s better for most to build a business.
Rick has been right in domains over the past 30 years.
Except Flowers.mobi. 🙂