Dan Bingham (@DefinitelyDomains) asked an intriguing question: At what point do you stop buying domains? The question could mean, “When do you stop adding to your portfolio?” or “When do you get out of domain investing?” Good advice related to both interpretations came from a variety of NamePros members. Among the most important ideas: balance the effort you put into buying and selling domain names. Is Domain Investing for You? Let’s first look at responses from those who interpreted the question as when should you leave domain investing. Raymond Hackney (@equity78) offered this superb advice: The idea of having a clear answer to why you are a domain investor is both obvious and too often overlooked. The answer will help define the domain investments that are a good match to your goals. Also, since buying domains can be addictive, following a budget is important. Even so, an emergency fund that allows you to occasionally depart from your budget if a truly great opportunity arises is smart. The following straightforward guidance was offered by @urlurl regarding when you should stop buying domains: There are exceptions, and some who have become successful in domain investing did not sell any in their first year. Nevertheless, after some period of trying something without success, it makes sense to ask yourself if this is really the right strategy, or activity, for you. Expressed another way by @loredan: He went on to point out that many domain investors are not realistic with themselves about how well they are actually doing. Keeping complete records is important for several reasons and can help you keep track of how things are going. Easy to Buy, Hard to Sell Possibly the best advice, valuable to any domain investor, came from @DomainRecap. He started with this insightful comment: He went on to helpfully outline some ways to work at selling domain names: It is easy to fall into the trap of putting all your effort into acquisitions, which for most of us is more fun than many aspects of selling. He suggested that you balance your time between buying and selling activities. But how do you achieve that in practice? What a brilliant idea! By the way, he also reports that his new way of going about things has already paid off with two recent four-figure sales. While trying to sell your domains, don’t overlook the Requests section of NamePros. Yes, you will probably need to submit many domains before finding success, and it will be at wholesale prices, but it is a place where domain names do sell and there is no cost to try. An alternative way of balancing your buying and selling was offered by @FavourB who suggested to set a limit such as when you sell two domains, allow yourself to acquire five more. For some, it could simply be only spending money you have earned from previous domain sales to fund future acquisitions. Don’t Buy, Do Research! We all worry about missing out when we delay acquisitions. @FavourB suggests the way to deal with that is to keep a short list with research data on domains you like and plan to acquire, if still available, when you have sold some domains. Also, as he noted, the delay will sometimes lead to a more realistic view of the domain name and you may decide to never purchase it. Domain research can include recent comparative sales, trends of term use, possible end uses and end users, in how many top-level domains the term is registered, competitive/similar domains for sale, investigation of possible trademark issues, examination of its history, and appraisal information, whether automated or from trusted friends. I personally find it helpful to develop a selling sheet prior to an acquisition, which helps me clearly focus on the merits of the domain name in an objective manner. It is important to have an exit plan for each domain name: under what conditions you would retain or release it. For example, what is the minimum price that you would accept, and how long would you hold the domain name in the absence of offers. @DomainRecap emphasizes that idea with the following good advice: If you have domain names that you have decided not to renew, it is possible that another domain investor will find success where you have not. I strongly believe that while some domains are good and some are not, it is also a question of the domain being with a seller who knows how to get that domain sold, or a seller with the patience to wait for the right buyer to come along. To be proactive, NamePros provides a way to move domains, without fees or commission, through auctions and wholesale-priced sales. Build Your Skills Another way to wisely delay acquisitions is to concentrate on building your domain skills as opposed to building your portfolio. As part of improving as a domainer, set a goal of increasing the array of domain tools that you use regularly and effectively. The resource started by @Silentptnr entitled I Use This Tool… is a comprehensive sharing by domainers of the domain research and analysis tools that they find valuable or useful. Some Great Advice Posts In case you have not viewed the beginner section for a while, even experienced domain investors can learn from it. Even though most were written some time ago, good advice is often timeless. Here are a few of my favourites: Six Lessons for Domaining Beginners, From a Beginner by @Joe Nichols 10 Tips for Domain Beginners by @tomcarl 5 Tips Before You Start Investing in Domains by @AndyM. His golden rule is something we should all keep in mind each day. @James Iles has published many superb advice posts over the years. I particularly like Expert Exchange: What Are Your Top Tips for Successfully Closing a Domain Deal? Have Your Say Why not head over to the discussion or offer your own advice in the comments below? What things help you control your tendency to acquire too many domains? How do your balance the buying and selling sides of domain investing? Have you tried taking a break from domain investing? How did it work for you? Have you ever considered leaving domain investing? Thanks to all who offered such great advice! NamePros is a strong online domain community, and good advice can be found around every corner.