Hello NamePros,
Although I've interacted with many of you, I've yet to formally introduce myself to the community which I've thouroghly enjoyed being part of for a year and a half.
My name is Casey, I have been working in finance in NYC for the better part of two years, although domain names have always been of interest to me. My first ever domain name was NYFilm.org, which I got at closeouts 5 years ago and sold to a buddy of mine for $30 (dropped now). Since then, I was hooked.
I spent the following 2 years learning mostly about web design, SEO, and affiliate marketing, but earning a couple bucks a day comes nowhere near the feeling of making a chunk of cash from a domain name sale.
Upon signing up on NamePros, my first post was asking for appraisals for "porn.net.co" and "docs.com.pl"...I dropped them a week later. My next move was to register a NN.lc, which I sold for $80 to a fellow namepros member (which he sold for $200!). I followed trends and sales to best understand what not only was valuable, but what could sell in a short period of time. Through this methodology alone, I made a pretty penny (on a small domaining budget) - which paid for a year's worth of apartment utilities and bud light limes
In the time being, I continue to treat domain investing as just that - a treat. I remain cautious by not indulging myself (and my paychecks) into acquisitions; and by doing so, I've remained motivated, curious, and most importantly, profitable.
If I could offer advice to domainers from my own experiences, I would recommend the following:
Don't follow the crowd - coming from a finance background, I know first hand what it looks like to watch the herd flock to the popular thing only to watch the herd fail. When a niche/extension becomes hot quickly, it's only raising in value due to the interest of investors, but not actual users. It took .com a decade to become the staple it is today, but it has reached the stalwart state solely due to most websites using it. Think of it as Facebook; the early investors wouldn't be rich if the rest of us didn't use it everyday
Focus on value - something I like to tell myself when making an acquisition is "the most valuable asset on earth is worthless if you paid more than it's worth". Would you love to own a name like Money.com? Of course. Would you pay $100 million for it if you could? Of course not. When I buy a domain, I always try to leave room for profit. Of course, this doesn't work 100% of the time. But then again, I didn't spend the farm on 5L chips hoping the value would come later. Remember; there's no such thing as a sure thing, but there IS such a thing as a "surer than not" thing. You might miss out on a big sale, but you will greatly increase your success rate
Happy domaining
Although I've interacted with many of you, I've yet to formally introduce myself to the community which I've thouroghly enjoyed being part of for a year and a half.
My name is Casey, I have been working in finance in NYC for the better part of two years, although domain names have always been of interest to me. My first ever domain name was NYFilm.org, which I got at closeouts 5 years ago and sold to a buddy of mine for $30 (dropped now). Since then, I was hooked.
I spent the following 2 years learning mostly about web design, SEO, and affiliate marketing, but earning a couple bucks a day comes nowhere near the feeling of making a chunk of cash from a domain name sale.
Upon signing up on NamePros, my first post was asking for appraisals for "porn.net.co" and "docs.com.pl"...I dropped them a week later. My next move was to register a NN.lc, which I sold for $80 to a fellow namepros member (which he sold for $200!). I followed trends and sales to best understand what not only was valuable, but what could sell in a short period of time. Through this methodology alone, I made a pretty penny (on a small domaining budget) - which paid for a year's worth of apartment utilities and bud light limes
In the time being, I continue to treat domain investing as just that - a treat. I remain cautious by not indulging myself (and my paychecks) into acquisitions; and by doing so, I've remained motivated, curious, and most importantly, profitable.
If I could offer advice to domainers from my own experiences, I would recommend the following:
Don't follow the crowd - coming from a finance background, I know first hand what it looks like to watch the herd flock to the popular thing only to watch the herd fail. When a niche/extension becomes hot quickly, it's only raising in value due to the interest of investors, but not actual users. It took .com a decade to become the staple it is today, but it has reached the stalwart state solely due to most websites using it. Think of it as Facebook; the early investors wouldn't be rich if the rest of us didn't use it everyday
Focus on value - something I like to tell myself when making an acquisition is "the most valuable asset on earth is worthless if you paid more than it's worth". Would you love to own a name like Money.com? Of course. Would you pay $100 million for it if you could? Of course not. When I buy a domain, I always try to leave room for profit. Of course, this doesn't work 100% of the time. But then again, I didn't spend the farm on 5L chips hoping the value would come later. Remember; there's no such thing as a sure thing, but there IS such a thing as a "surer than not" thing. You might miss out on a big sale, but you will greatly increase your success rate
Happy domaining
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