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30 Days as a Rookie. Long story but good.

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jcgt2010

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So this is my second post and I won

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So after upgrading my membership to business adding more details to my profile I still can't post my story!!

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So this is my second post and I won’t try to write too much, but today I hit the 1-month mark in the domain buying business. I have learned quite a bit in 30 days, but still learning. I own a media agency that focuses on TV & Radio marketing so buying domains for our co-branded radio and TV spots has been going on for 12 years. Domains like “Debt Relief of America” because that’s the co-branded name that’s in the :60 TV/Radio clip. About a month I was pulling my hair out trying to find a domain for a new radio client that’s in the insurance business. Every domain I looked up in GD was taken. So I decided to hop on Google and start researching and came across a website that allowed me to grab lists for domains that we’re about to expire, pre-released domain lists for NJ and Snap. Next thing you know I sign up for an expert level membership for $150 per month and then get referred to a trading platform that was another $60 per month. I initially got the 7-day free trial and downloaded tons of spreadsheets found about 10 domains for the radio client, but then started sorting the spreadsheet by appraised value. I couldn’t believe what I was seeing $97k to $50 in the thousand all ready toe expire of course a variation of TLDs and Non-TLDs. So I started typing them in during random parts of the day into GD one by one (ugggghh) LOW AND BEHOLD they we’re available so I bought them. That lasted for about a week and 150 domains later.

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Next Phase: I started using 2 other platforms and started sorting the spreadsheets various ways, but mostly by value, domain age and I found this nifty tool to see if the website has been blacklisted from Google because some of these domains I was handing off to my Director of Online marketing. Needless to say that department started cranking out websites, landing pages etc. etc. for SEO. NOW back to the spreadsheet I realized that I was sorting this right, but I wasn’t getting the short one word domains and so with my trading platform I could instantly use SN and NJ for drop catching. I was successful with their service, I couldn’t justify the $40-$60 fee and then to find out it would go to auction and I would compete. I nearly paid $900 for a domain that is still sitting for sale for $25. After a few days of this domain not selling I realized I need to understand that value DOES NOT mean crap unless it’s the right buyer, right time and of course timing…that’s part of the equation.

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So many more lessons I am not mentioning, but I’ve managed to acquire 450 domains in the last 30 days in which I would dump at least

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half of them for 70% of the reg fees I paid to GD. I’ve been watching different threads on this forum and learning from others mistakes, but should have conducted more due-diligence before I went off buying my first 200 domains. I was literally losing sleep and getting a high off life buying domains that we’re worth lots of money (according to the spreadsheets) BUT in reality are worth nearly the reg fees if that.

As of last Friday I realized it was the first day that I didn’t buy more than 10 domains, but rather 3-5 and got 8 hours of sleep like I was before this 30-day madness. I canceled all of the platforms at week 2 and kept 1 of them that is mostly used or SEO, but that may go before the end of this week, as I believe that the AdWords tools are the best and it’s from the source.

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I am leaving lots of lessons learned out of this now BOOK, but the biggest adjustment(s). I have made have been

*To slow down and conduct lot’s of due-diligence if I like a domain name. I focus on the word or words and keep them as short as possible.
*Stick with DOT COMs unless it’s the right 1 or 2 word NET or ORG depending on your situation or business model.
*You MUST read this forum and search other war stories, success stories and stay positive.
*Domain names will not sell overnight in most cases. To date I’ve sold 18 out of 400+ domains and am still way upside down.
*Be creative and hand reg a few and list them (2 of the 18) we’re names I cam up with due to trends in technology.
*Overall there are many more that I am not listing, but all I can say is take your time and have a business model.

My business model initially went from finding “1” good domain for a TV/Radio client for media to losing focus of my company, employees, family, friends and ultimately myself as I feel that this was starting to become very addicting.

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As I type this I am no longer thinking I am missing a domain opportunity and I better open up my spreadsheet and login to GD. I am relaxed and casually browsing the forums.

****By the way I can’t believe I left out these 2 items.

1. I didn’t realize until week 2 that the daily drop starts at 2pm EST for pending delete domains. Before I was just going crazy 24 hour a day (minute to minute).
2. That GD has a bulk domain search tool and when I found out they did I realized that I could have saved about 60 hours of typing one by one in (WOW LOL).

Sorry for the long story there is a whole lot more to it. I recently read a post that instead of me buying so many I could have bout 1 LLL and probably made more money. I have no regrets about the last 30 days because I’ve learned a TON and so much more to learn.

**********FINALLY 5 posts for 1 story either I wrote too much or I am to new to the forum********
 
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Well we all had lost sleep at the beginning. The good news is that domains drop every single day...so if you did not spend time to catch something today...there will always be tomorrow. Second, you left out probably the most important part. Before registering domain see if that keyword is trademarked or you may face trouble. Third... I am hoping that while you are trying to sell them, they are parked somewhere to make You money and not just hanging at gd, right?
 
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Well we all had lost sleep at the beginning. The good news is that domains drop every single day...so if you did not spend time to catch something today...there will always be tomorrow. Second, you left out probably the most important part. Before registering domain see if that keyword is trademarked or you may face trouble. Third... I am hoping that while you are trying to sell them, they are parked somewhere to make You money and not just hanging at gd, right?

At first I didn't check to see if they we're trademarked, but for the last 200 or so purchases I have. I don't park the domains for SEO reasons, but that's another story. I have 2 p/t designers putting up 1 page landers with AdSense for now.
 
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