poll Domainers: How much to quit your job in 2022?

[redemo]

Simple question for part-time domainers. How much money do you need to earn from domaining in 2022 to quit your job and become a full-time domainer? (amount in American $ dollars).

Edit: Please state your country in comments (thanks @wallet2it).

 

[kite26]

@kite26 Great point. The question implies that you are not happy with your job (or not happy enough) , and if better income offered you'd leave it behind. That's not the case with me, for example. I run a small travel agency for more than a decade already and even before covid ''era'' the travel industry is a constant wave - seasonal to say the least, and there are other factors as well. Now obviously it struggles big time. That's why I am pretty happy with the combination: my travel business + domaining. When they travel knocks the door, you just minimize your time with names. When you enter low season or down time, you spend much more time domaining. A perfect combination to me.
Bottom line - I can't really pick an answer to the poll, I'd invent my own:
Happy with things they are now, jobwise.

1000 times poor and happy than more rich and miserable.

 

[redemo]

Domain business is funny because you DO NOT have average income per month.
Some months you sold a bunch of names and some months you do not have any sale at all.

Domain business? You mean selling domain names. There are many many ways to profit from domain names and many have a regular and predictable income. But let's say you are only selling domain names and your monthly line is $ 5000. Should you sell a domain name and get $ 25000 net profit you are good for five months when averaged out monthly. I'd imagine a combination of very high quality domain names and a great deal of outbound interaction would be required.

 

[The Durfer]

I think with the uncertainty of another sale you would need at least a milliion dollar sale to retire and save. You need income in the future. What if you never sell another domain? No, best to do both work and domaining. Domaining is kinda easy and can be done in your pasttime anyway. Ty. Happy New Years! Whoohoo!

 

[redemo]

This poll covers all forms of domain name investment. Domaining and domain name investment are the same thing. The term investment means " the act of putting money, effort, time, etc. into something to make a profit or get an advantage, or the money, effort, time, etc. used to do this " https://dictionary.cambridge.org/dictionary/english/investment. So sell passively or aggressively, flip right off the bat, hold long-term, lease out, develop a website, develop a website and sell, it all comes down to the same thing. You need to get that regular income as a consistent average figure each month. Do that and you can become a full-time domainer.

 

[redemo]

Top results shared very broadly so far. Will need to wait and see if a clear leader emerges. Early voting (36 votes thus far) suggests most domainers require between $ 2000 / month and $ 5000 / month or above $ 10000 /month, to quit their jobs and become a full-time domainer in 2022. I think after 100 votes we'll get a more detailed picture. But as many replies have suggested it does heavily depend on where you live and your current income and expenditure.

 

[maya-zir]

stable 4k monthly is enough for just joy the life for more of people.
usually, 1k is enough for rent or pay a monthly mortgage,400 is enough for buying food, or 800 if you prefer to eat somewhere, the rest is just to spend on whatever you want..
ok, it is not enough for buying a yacht or luxury mansion, but I mean a minimum decent sum to feel free and not worry about tomorrow

 

[DomainRecap]

The ideal scenario, at least for me:

Keep your day Job + Domain Investing on the Side = Raking in the $$$

 

[redemo]

The ideal scenario, at least for me:

Keep your day Job + Domain Investing on the Side = Raking in the $$$

So given the choice would you prefer not to become a full-time domainer? That being the case, you must have a really well-paid and satisfying job right now.

 

[serppower]

$ 1000 / month. That's low for U.K. Where you located bro? I might move there.

Egypt and yes $1000/m here is more than enough at least for me!

 

[redemo]

One question for all people ( 9 so far ) who voted less than $ 2000 / month, assuming it's in low-cost-of-living countries. How on earth do you pay for expensive things bought from overseas and travel abroad to wealthier places like U.S.A., U.A.E., Qatar, U.K. and Canada? Also when you buy domain names you pay the same amount as everybody else. A dot com isn't cheaper to buy based on your location. There is no third world country discount for domain names. It's the same price whether you are living in Egypt ( @serppower ), Greece ( @kite26 ), Malaysia ( @zaimk ), U.S.A ( @wallet2it, @Nametra.com ), U.K. ( @jhm, @redemo, @D Haynes ) or Australia ( @lock, @Corey ).

 

[redemo]

Thinking more on it now, I'd actually be willing to make many life-style sacrifices to become a full-time domainer in 2022. Who wouldn't?

 

[phantasmagoria]

I make roughly a little over 750 a week after taxes, so 3000 after taxes would be enough, but now I would have another problem, I would have to occupy my life, I'd fill it with family and friends, but I would have to follow a routine cause I couldn't just let myself go and that's what happens when you dont move.

But yes to answer your question, $3,000 a month would do it, which in the grand scheme of things is chump change. Wish I could do that selling domains but its even more far fetched to me than being a day trader, it's just a dream.

Now if I had extra time maybe id try it, I did once back in the day, I would approach people selling domains and usually got lucky, I think I sold one for $200, but man its hard work and you've got to have connections, and a savings of some sort. Some people can do it, and some people just can't for multiple reasons, especially for $3000 a month. I just dont see it happening.

 

[Kingslayer]

I don't do it for a living, but think i could.

About 4 to 5 years ago i paid mid-4 figures for my first single word .com, 6 weeks later someone offered me $40k for it. If i was doing it for a living, i could have sold it and basicly made a years salary in 1 move, but i held on and sold it for a lot more.

Last year i bought a domain for low 6 figures, i'm fairly confident (infact knew i could have) sold it straight away for mid-6.

If i did domains for a living, i think my approach would be buy a good single word .com (that i knew i could make money on) and just e-mail of a bunch of investors (or go to auction) and flip it for $50k-$100k profit.

Getting a single word .com's takes a lot of time, but get one at a investable price, you could make your yearly salary in 1 move.

 

[redemo]

Getting a single word .com's takes a lot of time, but get one at a investable price, you could make your yearly salary in 1 move.

Potentially big rewards @Kingslayer but a risky strategy. You can't make too many low six figure mistakes. How are you making those purchase decisions? I'd be way too worried to ever risk six figures (if I ever had six figures to risk).

 

[redemo]

I make roughly a little over 750 a week after taxes, so 3000 after taxes would be enough, but now I would have another problem, I would have to occupy my life, I'd fill it with family and friends, but I would have to follow a routine cause I couldn't just let myself go and that's what happens when you dont move.

Three major benefits of home working are more flexibility, moneysaving and timesaving. If you travel one hour each way to your job it saves ten hours / week. Add the saved cost of travel and you can work on a more limited budget. The risks of slacking off and chubbying up are great. Requires immense discipline and carefully planned routine. One thing you can do with the extra time is get involved with exciting and worthwhile community projects. Having a dog to exercise with will help too.

But yes to answer your question, $3,000 a month would do it, which in the grand scheme of things is chump change. Wish I could do that selling domains but its even more far fetched to me than being a day trader, it's just a dream.

My salary is close to yours @phantasmagoria. Earmarked thirty sites to develop this year. Working on the premise that by mid year I can get a three dollar advertisement click on each web site each day. This equates to just over $ 500 income on each domain name June through December. Fifteen grand. The other fifteen grand needs to come from selling fifteen web sites on Flippa by December 2022. A website earning average $ 1000 / year could sell for $ 1000. That comes out to $ 30000 total. But I need to keep my job until mid year and see where it's at. It's going to be very challenging but not impossible.

 

[phantasmagoria]

Three major benefits of home working are more flexibility, moneysaving and timesaving. If you travel one hour each way to your job it saves ten hours / week. Add the saved cost of travel and you can work on a more limited budget. The risks of slacking off and chubbying up are great. Requires immense discipline and carefully planned routine. One thing you can do with the extra time is get involved with exciting and worthwhile community projects. Having a dog to exercise with will help too.

My salary is close to yours @phantasmagoria. Earmarked thirty sites to develop this year. Working on the premise that by mid year I can get a three dollar advertisement click on each web site each day. This equates to just over $ 500 income on each domain name June through December. Fifteen grand. The other fifteen grand needs to come from selling fifteen web sites on Flippa by December 2022. A website earning average $ 1000 / year could sell for $ 1000. That comes out to $ 30000 total. But I need to keep my job until mid year and see where it's at. It's going to be very challenging but not impossible.

Goodluck, I'm sure there's money in there to be made, I just wish I had more time to research it and execute it properly. that's the disadvantage with being on the hamster wheel of life.

more power to you if you can do it. I remember owning a misspell of youtube once where it didn't spell out to youtube but a lot of people would use their keyboard on their phones and it would be easy to misspell it a certain way.

it was making money, like few dollars a day, but I forgot about it and it dropped.

 

[hareemadil100]

Nothing, I'm already rich enough ​

 

[alcy]

tons of millionaires have only.debts

its all about lifestyle needs.. then those relate to how many kids u got.. yer gold digger wife..or if single..and then mix all this into where u live...cause in india u live like kinda king for 1k per month..while in usa uk canada etc u live in your car or street tent for that cash

 

[redemo]

tons of millionaires have only.debts

its all about lifestyle needs.. then those relate to how many kids u got.. yer gold digger wife..or if single..and then mix all this into where u live...cause in india u live like kinda king for 1k per month..while in usa uk canada etc u live in your car or street tent for that cash

You are correct money doesn't make us happy (per se). I have no ambition to become a millionaire @alcy. Just doing domaining full-time on my current basic salary is enough. Could be the answer is move to India. There is a growing digital nomad community in cheaper countries from richer countries. I read this from Forbes https://www.forbes.com/sites/oliver...usive-where-have-all-the-digital-nomads-gone/. Actually didn't read I listened to it with a very amateurishly produced audio. Would have been more sensible to have the article author produce it. Come on Forbes, we expect more in 2022.

 

[FolioTeam]

One question for all people ( 9 so far ) who voted less than $ 2000 / month, assuming it's in low-cost-of-living countries. How on earth do you pay for expensive things bought from overseas and travel abroad to wealthier places like U.S.A., U.A.E., Qatar, U.K. and Canada? Also when you buy domain names you pay the same amount as everybody else. A dot com isn't cheaper to buy based on your location. There is no third world country discount for domain names. It's the same price whether you are living in Egypt ( @serppower ), Greece ( @kite26 ), Malaysia ( @zaimk ), U.S.A ( @wallet2it, @Nametra.com ), U.K. ( @jhm, @redemo, @D Haynes ) or Australia ( @lock, @Corey ).

That's another point. For import dependent countries like a few in Africa, monthly expenses can be quite high when compared to the West.

Because while basic things like food might be cheaper, every other thing is too expensive because of the need to import from the US, Europe or Asia.

 

[jhm]

Another factor except for income, is in what level you are satisfied with your current (main) job. I am not, and i plan to study something else to find an easier job to be able to do domaining easier. It's big decision, but life's quality is more important for me. Life is short and sometimes we forget it.

Quality post

 

[redemo]

Consider a skilled trade @kite26 mate. Take a short training course then buy a vehicle and what equipment you need. Many skills haven't got enough staff. Painter, roofer, tiler, electrician, plumber, locksmith, window cleaner, carpenter, plasterer, bricklayer, gardener. https://www.options-skills.co.uk/2021/09/27/tradespeople-earn-university/. About U.K. but applies to U.S. and other countries. Bonus you'll be able to find and use a very good quality domain name if you set up a business website! Make you stand out from the crowd. Doing this will allow you to save many dollars for domaining. Maybe become full-time in time?

 

[Culminant Domain]

@kite26 Great point. The question implies that you are not happy with your job (or not happy enough) , and if better income offered you'd leave it behind. That's not the case with me, for example. I run a small travel agency for more than a decade already and even before covid ''era'' the travel industry is a constant wave - seasonal to say the least, and there are other factors as well. Now obviously it struggles big time. That's why I am pretty happy with the combination: my travel business + domaining. When they travel knocks the door, you just minimize your time with names. When you enter low season or down time, you spend much more time domaining. A perfect combination to me.
Bottom line - I can't really pick an answer to the poll, I'd invent my own:
Happy with things they are now, jobwise.

Very similar to what I experience with my lawn care business. Very little time available with three kids from April to Thanksgiving. December-March... FT domaining...hours and hours.

 

[redemo]

Very similar to what I experience with my lawn care business. Very little time available with three kids from April to Thanksgiving. December-March... FT domaining...hours and hours.

You know that Dusty Springfield song Son of a Preacher Man has these lyrics " How well I remember the look that was in his eyes, Stealin' kisses from me on the sly, Takin' time to make time, Tellin' me that he's all mine " well I really like the line " Takin' time to make time " because I am also super busy. But if you want to get something done and you force a time slot then it normally gets done. Full-time domaining doesn't mean full-time hours. What it means is you make bank by monetising your domain names. Nobody said it must be 40 or 50 hours every week. You can take time to make time to learn how to work smart.

 

[Culminant Domain]

You know that Dusty Springfield song Son of a Preacher Man has these lyrics " How well I remember the look that was in his eyes, Stealin' kisses from me on the sly, Takin' time to make time, Tellin' me that he's all mine " well I really like the line " Takin' time to make time " because I am also super busy. But if you want to get something done and you force a time slot then it normally gets done. Full-time domaining doesn't mean full-time hours. What it means is you make bank by monetising your domain names. Nobody said it must be 40 or 50 hours every week. You can take time to make time to learn how to work smart.

Yes, thank you. I am having to put in a lot of catch up hours getting everything listed and priced. I have already accomplished more in 2-3 weeks than I was able to during my "busy" season. Currently through my "Ds" on Dan. My head almost exploded today. But then I regged fluronae.com simply out of spite, and then wallowed in my joy.