Investing in a digital Project

Scroll
Artwork for Investing in a digital Project
Artwork for: Investing in a digital Project

I have made my first investment in another project and I believe it was a good idea.

I paid around $3000 for the project nomadpick.com, including the social media accounts and the subscriber-base. Currently the project doesn’t make a profit, because the previous owner didn’t monetize it at all. He seems like a good guy and I’m happy to continue his work.

It’s a new experience for me, but overall I think it’s a very good move.

The monthly upkeep cost of the project is almost zero, it’s build well, looks good, the name and domain is strong and by investing I certainly do not run the risk of ruining myself financially. Furthermore it has already found a good niche.

The digital nomad space is interesting to me (also since I’m traveling myself and have experience in the field) and should be growing a lot in the years to come. So it makes much sense for me to enter into it.

Time will tell if I can make the project profitable, but I think things align nicely.

One thing I’d like to point out when it comes to such investments. If you consider something similar, make sure, that the project also fits to you. I think this isn’t talked about enough. The project or whatever you think about investing money into has to fit to you and your interests.

One more thing that comes to mind:
It did feel a bit scary to send such a sum to someone in india (I think).
Even if I took as many precautions as possible.