Noob says what??

[EagleBearer]

Noob says hi

My first post. I'm new to the industry but not new to domain buying and selling. Probably everybody's story when they first got here.

I'm in my mid 50's and been looking for a good source of income. I used to be an IT Contractor but for some reason I can't stomach the thought of the whole office dynamic, or JIRA (that's an in joke). I didn't renew my last contract and that was back in 2021.

I'm aiming at working from home, at my own speed, and without all the other corporate stuff.

I've rented my own virtual servers since 1999 and have a few live websites running. I've been buying, modding (DNS etc) and transferring names for years as a hobby so when I discovered that it was an actual viable business opportunity, it clicked with me. It's something I can do that doesn't require a limited company, insurance, accountant (corporation tax) etc. I can run the business as a sole trader and declare my income. I'm already registered on a few of the sites used by traders.

I know it's not easy to get started. It never is. I'm not looking to sell the golden egg. If I can make a good annual income (eventually) that can sustain me, then that's success in my eyes.

As well as buying/selling I'm also looking into domain parking and any other alternative routes to a passive income. I know I've got a lot to learn but I'm very happy to learn it all.

Any and all tips/advice are welcome.

PS - This isn't my first forum adventure. I know what to expect.

 

[Mister Funsky]

Hello and welcome to nps! The intro is appreciated...too many think that 'hi' is a good start when joining.

This is a tough way to make money and it takes time and money. Use the search function to seek answers to general questions and take notes along the way (believe me, it will make things easier in the long run).

Hand regs can make money...generally not a whole lot unless you get in at the beginning of a trend. Auctions can have some good results...just like with stocks, buy low and sell high.

Be sure to do lots of research before investing too much. Best of luck to you!

 

[EagleBearer]

Hello and welcome to nps! The intro is appreciated...too many think that 'hi' is a good start when joining.

This is a tough way to make money and it takes time and money. Use the search function to seek answers to general questions and take notes along the way (believe me, it will make things easier in the long run).

Hand regs can make money...generally not a whole lot unless you get in at the beginning of a trend. Auctions can have some good results...just like with stocks, buy low and sell high.

Be sure to do lots of research before investing too much. Best of luck to you!

Thanks for welcome!

It's never easy. At least with this sector I'm already a member of all the relevant sites and I've been around the industry which should help me get on my feet.

I have some hand regs from years ago. I'm considering either listing them for sale or parking them. I've not heard good things about parking though, but I suppose It's still better than nothing but being renewed annually.

But yes, thanks for the advice. I'll be doing a lot of research before I decide on a long term strategy. The auctions look like the best short term starting route. I have an item on GoDaddy that's doing OK but I think I set the reserve too high (reserve set to domain valuation by GoDaddy). Didn't want it to go for cheap. There must be a name for that trap lol. It's not over yet, but I guess you live and learn!

How did you get started?

 

[Mister Funsky]

How did you get started?

I met a guy when I lived on the West coast and he told me about domain investing...before the big burst years ago.

It was still when hand regs were lots of fun....I still have the notebooks where I made lists of names to register. Got out (for the most part) when bubble burst...got back in 15 years or so ago.

 

[EagleBearer]

It was still when hand regs were lots of fun....I still have the notebooks where I made lists of names to register. Got out (for the most part) when bubble burst...got back in 15 years or so ago.

That's a very long time. I didn't even know there was a bubble to burst.

 

[Anthonyb5615]

Noob says hi

My first post. I'm new to the industry but not new to domain buying and selling. Probably everybody's story when they first got here.

I'm in my mid 50's and been looking for a good source of income. I used to be an IT Contractor but for some reason I can't stomach the thought of the whole office dynamic, or JIRA (that's an in joke). I didn't renew my last contract and that was back in 2021.

I'm aiming at working from home, at my own speed, and without all the other corporate stuff.

I've rented my own virtual servers since 1999 and have a few live websites running. I've been buying, modding (DNS etc) and transferring names for years as a hobby so when I discovered that it was an actual viable business opportunity, it clicked with me. It's something I can do that doesn't require a limited company, insurance, accountant (corporation tax) etc. I can run the business as a sole trader and declare my income. I'm already registered on a few of the sites used by traders.

I know it's not easy to get started. It never is. I'm not looking to sell the golden egg. If I can make a good annual income (eventually) that can sustain me, then that's success in my eyes.

As well as buying/selling I'm also looking into domain parking and any other alternative routes to a passive income. I know I've got a lot to learn but I'm very happy to learn it all.

Any and all tips/advice are welcome.

PS - This isn't my first forum adventure. I know what to expect.

I like it because it’s like virtual real estate, no maintenance, no surprise costs! Profit margin can be good and as you said you don’t need accountant tax LLC etc