Can newcomers to domaining still make it realistically?

[dotgold]

For people entering the domaining world, can they actually make a living buying/selling seeing how things are so competitive and scarce?

Are their any examples of people who recently got into domaining and are doing very well? What sort of investment did they make?

Thanks!

 

[urlurl]

Yes, having a (competent) veteran mentor is always a good idea.

 

[Aspiring Billionaire]

Can newcomers to domaining still make it realistically?

The short(er) answer is ... "Hell Yah!". In fact, I'd bet that if someone starts five years (as an example) from now, they'll make it too.

Although, the more important question is ... "How" - to which the answer is ... "Learn all there is to know". So based on the answer, the "make it" part won't come without patience and time.

Anyone who's been domaining for a year without any success is either (1) not committing to it seriously, or (2) is purposely doing it as some form of part-time hobby.

In my experience, domaining is the simplest and most cost effective way of making serious money (in terms of time=value) today - period.

And best of all, the information resources are free .

 

[hookbox]

Takes a lot more money so has a lot more risk. Can you hand reg names and sell them for $100,000? Absolutely not. Can you handreg names and sell them for a few grand? Absolutely! Can you purchase aftermarket names for a few thousand and sell them for $100,000? Anything is possible in this business but far from easy since it's become saturated with more sellers than buyers.

A few years ago you could build a nice portfolio for under ten grand but now it would take five to ten times that to build the exact same portfolio. Way to many people involved in domaining now and most of the good niches have been fully mined. The guys that make the tools for this business have the ability to really kick ass just like the guys who sold picks and shovels during the goldrush.

 

[urlurl]

"The smarter your are, the less you have to work"

 

[SpareDomains]

Successful domaining requires a handful of skills...

1) Buying The Right Domains
Buying the right domains is the #1 thing you can do to increase your chances of success.
Where is the money? End user sales
Who are end users? Businesses with a product or service
Can you pick a portfolio of domains that an end user would want to increase your chances of a sale?
Ask yourself if I was in this business would I pay $500-1k minimum for this domain or could I find an alternate available for $10?
Turnover rate is low so if you have a portfolio of winners you'll be profitable if not you'll hear crickets as there will be no demand for your domains and the renewal monster will eat you.

2) Sales Landers
Do your domains lead to a clear simple sales page that makes it easy for an end user to understand the domain is for sale so they can submit their offer?
Do your sales landers load quick as slow loading landers could be closed before they fully load.
The average internet user is easily confused so simple works. Logos, graphics etc... may look nice on your site but they don't help sell domains. Domain quality is #1
Still parking domains? Make sure to use a parking company that has a big sales link located at the top of the page not buried at the bottom as a good domain sale can trump many years of parking earnings.

3) Distribution
List your domains on your own site, sedo, afternic etc... as good domains that nobody can find won't lead to sales.

4) Negotiations
Most of my sales since 2003 have come direct to my own sales landers which gives me name, ip, phone, email etc... to research who I'm dealing with and capitalize on sales without paying commission to an aftermarket.
Can you handle negotiations on your own through your own site, bodis sales pages, efty etc... or do you need to direct them to a better negotiator and pay a commission? If you do them on your own over time you will gain more confidence/experience as you talk to more end users.

So do I think you can make money starting today=Yes, but it requires a complete set of skills that some just get or can be taught and others continue to buy domains for many years later that have zero commercial appeal. If your domains don't appeal to end users than you will never see end user money. Good expired domains you can buy low, be patient and ring the register with an end user. Bad domains you can buy low, renew for years and eventually drop. Choose wisely.

 

[urlurl]

Thanks Jay, well said

 

[Giode]

A few weeks ago was my ten-year mark as a member of this forum (and in this business). I remember feeling that the ship had sailed and there was not much opportunity for a late-comer at that time. It was not a great feeling.

Ten years later, through a lot of hard work and persistence, I can tell you that I was wrong. There was still opportunity back then, and believe there still is now.

It is much harder these days then it was ten years ago. Bargain prices for great domains is much less likely. Years and years of low-ball domainer spam have turned off the owners of great URL's, to the point that very few reply. Not even to genuine inquiries with large offers attached to them. Ten years ago, this was not so much the case.

I believe there is still opportunity. But, only for those who take the time to truly learn. That means immersing yourself in this business and being patient. Most want to make a quick dollar, which is why you see so many low quality names being registered and listed for sale on this site. I made some mistakes here as well that I can look back and laugh about. But I learned soon enough the value of learning before spending. Most reading this want it now.

Persistence is probably one of the most important characteristics a person can have in this business. Persistence to work hard and find new ways to create opportunities. Think creatively, rather than follow the crowd. They believe that if others have succeeded, so can they. It is that persistence that creates "luck", and you won't thrive in the domain business today without some luck.

Having a cash reserve helps as well I started with $7,000 in 2007, and have turned that into something that has allowed me to work from home ever since.

 

[biggie]

Many domainers have wrecked their ships on the rocky shores of Renewal Fee Island.

lol RJ

i could see that, especially if everybody is following the same map, looking for same buried treasure.

the weather started getting rough,
the tiny ship was tossed.
If not for the courage of the domainer crew
All their money would be lost.
All their money would be lost



imo...

 

[imadoer]

Why can't they I know lots of people who haven't done this long that are doing well.

All good domainers where new at some point

 

[Dondomainer]

If you buy for $1 and sold for +$100, It is already a success, keep in mind that there is a very small number of domains suitable for sale.

 

[urlurl]

i'd rather buy for $xx and sell for $x,xxx

 

[elevator]

Domaining looks very easy but very complex, Yes new domainers can make it, but with time, it is like in every other business where you will go through series of learning and development. you must learn and sow seed watering and wait for growing and ripening.
Yes some new domainers have made and some have left and some are still in the business.
Someone like Ali Zandi read his many stories within short time in domaining biz many of them like that
http://www.domainsherpa.com/ali-zandi-flips/

 

[CdotFU]

“Difficult to see. Always in motion is the future... You will find only what you bring in. Many of the truths that we cling to depend on our point of view.

Foreplay, cuddling – a Jedi craves not these things. Do or do not. There is no try.

You will know (the good from the bad) when you are calm, at peace. A Jedi uses the Force for knowledge and defence, never for attack.

PATIENCE YOU MUST HAVE my young padawan” ~ Yoda

 

[ksusha64]

Guys from the 90's will get eaten alive by young guns today. Everyone knows it. Tons of new talent in domaining and doing great. Most so called famous domainers will not last 1 month in todays market.

 

[Josh R]

Guys from the 90's will get eaten alive by young guns today. Everyone knows it. Tons of new talent in domaining and doing great. Most so called famous domainers will not last 1 month in todays market.

I agree.

Watch below video.

http://www.domainsherpa.com/rick-schwartz-handreg-interview/

 

[ksusha64]

I agree.

Watch below video.

http://www.domainsherpa.com/rick-schwartz-handreg-interview/

This video is pure madness, The whole list of 300 domains is not worth $1. 3k down the drain.

 

[alcy]

some rep somewhere once told me they saw a guy who's been strcitly handregging stuff ... for years ... and seling for XX bins.. that's many bins and many sales.. they said he's a millionaire today

I guess that's one way of getting there heh

..... but then some other guy told me he saw a fairytale.. so you just can never be sure...

like this guy here lol:

 

[Silentptnr]

I agree.

Watch below video.

http://www.domainsherpa.com/rick-schwartz-handreg-interview/

Thanks for that. I watch DomainSherpa but didn't see that one. It's a great one. It takes all the mystery away from Rick. Regular guy, interesting fellow, very bad hand regger today.

He really needs to keep making his sales and let the new tigers chart the course for the future. His names crack me up..

 

[Want2learn]

The first thing you need to know if you want to make it is that most people don't.

I'm not saying this because I've interviewed/talked to a lot of domainers necessarily, but because by now I've put in hundreds of hours (probably more) going over domain expiration list and reviewing auction lists. What all that information I've learned from that has told me is that:

Most people have registered and still register horrible domains!

I've found there are 2 characteristics that mark most of the more better domainers (aside from experience and all the other obvious stuff):

1- Good domainers are very knowledgeable.

2- Good domainers have a good command of the English language.


Obviously there is more to it, and if you're only focused on supershort domains or numerics and/or very local (non-english specific), then you can certainly still do well in such specific niches.

However finding a good domain is like finding out a good piece of art. You have to know (or be able to research and understand) the subject of the domain, as well as know if the wording "works".

Pretty much ALL domainers make mistakes and have grabbed bad domains. But having those 2 qualities help limit the damage that can be done. The two biggest mistakes made by domainers are:

1- Most domainers buy domains that nobody will be interested in.

2- Most domainers buy domains that are not worded properly.


1- Knowledge: When it comes to being knowledgeable there are two factors. One is knowing about the domain industry itself, and for that there is tons of information available most importantly here at NamePros, podscasts like @DomainSherpa's and the many blogs out there like @Domain Shane's. Spend hundreds of hours listening and reading and you certainly can improve on this front. However there is another important part of knowledge that applied to domaining that isn't mentioned often ... and that is "general knowledge". If you have a bit of knowledge on large number of things, then it definitely helps you identify domains for cheap that probably would have been missed by another domainer who didn't know about the subject. The more you open your horizons and learn about the world around you, the more you'll be able to find domains that others don't.

2- English: Obviously the entire world does not center on English. But global finance and information does. The best way to waste money in domaining is putting words in the wrong order or putting the plural version of a word when it should be singular (and vice-versa). Unfortunately there is no short term fix for this .. you need to learn English .. and be good at it. Otherwise you will miss out a lot of opportunities .. and more importantly .. you will waste less money on badly worded domains.


https://www.namepros.com/threads/my-second-year-has-come-to-an-end.1008990/#post-6066751

Please don't take this as me saying people cannot be good/successful domainers without these 2 factors ... however I am saying that your chances of being successful (already very difficult for knowledgeable English speakers .. lol) will go up significantly if you have those two traits behind you.


Anyhow .. another huge factors are hard work and dumb luck ... so aside from all the recommendations I mentioned above .. I'll also wish you lots of luck!

Just read and reread this today. Very good stuff and a lot to take away from it.

I am not quite sure what you would call this problem . . . lack of focus or discipline, addition perhaps? Anyways one issue I have been grappling with is this . . . I am several grand into domaining now. If I knew then what I knew now, I would have done this . . . I would have 10 domains that I was willing to hold for the long term, but willing to sell at anytime. Then I would have said I get $599 to hand reg 100 names, and then hand regs got to 100, thats it until I sell hand regs. So a portfolio of no more than 100 of my own hand regs I probably would have slotted some money for drop lists, eBay, name pros, that kind of after market venue.

But that isn't what happened. And now, though not as much now as then, I felt like let me hand reg this or that and so thinking hey Ill spend 15 on 3 names vs hundreds on one. For example the other day I hand reg VrAffect.com I think there is legit possibilities there! Other posters not so much. At the time of hand regging Im not thinking this will bail me out or fix all my problems! I am also thinking there is potential even if it isn't XXXX potential. For me today I would not sell VrAffect.com for $100. If 5 months go by and no inquiries I might do a BIN here or Godaddy for $75.

 

[Brands.International]

Guys from the 90's will get eaten alive by young guns today. Everyone knows it. Tons of new talent in domaining and doing great. Most so called famous domainers will not last 1 month in todays market.

Agreed

 

[hookbox]

some rep somewhere once told me they saw a guy who's been strcitly handregging stuff ... for years ... and seling for XX bins.. that's many bins and many sales.. they said he's a millionaire today

I guess that's one way of getting there heh

..... but then some other guy told me he saw a fairytale.. so you just can never be sure...

like this guy here lol:

Doesn't seem to far fetched. About 11,000 domains sold at 100 bucks a pop minus reg fees will get you 1 million bucks. 11,000 domains is really not that many when you think about it.

 

[elevator]

The clue behind this biz is to know the good stuffs. It does not mean that new commers should hand regs only, though there are still good hand regs in the ocean. But there are real gems dropping on daily bases for any one to catch or to re-regs.

Yes ! new commers can make it in the biz provided such person can decode good ones.
If you are a new commer, yes! there is hope, it is just a matter of learning to know the good ones. Cheers and good luck.

 

[Kuffy]

What is a successful domainer? I think it is a person who acquires domain names to achieve an end. Most people seem to assume that the only end is to make a quick profit by selling them. There are other reasons.

- Purchasing names as part of a pension plan. The income can provide a pension
- Hedges against the collapse of fiat currency
- Registering names as an investment for the future.
- Using names as a tool to achieve a political or other objective.

 

[Marc Riccio]

Succesful domainers imho operate in the black, many new domainers reg hundreds and thousands of domains right off the bat, renewing becomes almost impossible to maintain. Even though they may have sales overall they operate in the red, year after year.
Best strategy in my view is stay small so one or 2 sales a year cover reg fees, until the new industry technology names come into play and can be sold for bigger amounts.
Joe T

Exactly what my plan is. Am retired, have been for 15 years. This is my new hobby for me. Have been reading for months, bought 2ndomains to learn and practice with, and today bought 8 domains. Now, I have a year to sell them. It'll keep me busy and it's better than sitting in my underwear playing Sudoko.

 

[BrandSac]

lot and lot of motivation and great information in this thread, thank you all