Howdy folks,
I'm back from a long period of inactivity and a foray into Internet Marketing which saw me try everything from ghostwriting to site flipping and affiliate marketing.
Domaining, however, is where I started - where I dismally lost my first $200 - and where I belong. Like everyone else, I started off with the same newbie mistake of registering a dozen fresh domains and then expecting to sell them for $xxx each. Needless to say, I was shocked that this expectation didn't materialize (YouGotPwnt.com was a great name, I swear!!!)
Anyhow, I am now looking for a plan of action of sorts for getting back into the domaining game.
Step 1 of my strategy would be to start off by picking up and flipping to resellers dropped domains with potential, with the intention of making money off the sheer volume of sales, rather than enormous numbers (I don't expect to get more than low $xxx for one of those). For example, if I pay $69 to get one of those domains but I resell it for $120, that's $60 profit - and if I flip 20 domains like that, that's $1.2k profit there and then.
However, this initial flipping phase will enable me to build up my capital reserves and thus enable me to move up the ladder of flipping by becoming more involved with genuinely premium domains. They're more expensive, yes, but it seems that profit margins on those are much higher as well.
Finally, I expect income from premium domain flipping to allow me to begin diversifying my portfolio into development opportunities. This way, over time, I would eventually shift from flipping and more towards developing and recurring income.
My question is - does my strategy sound realistic to you? In particular, what do you make of the notion of picking up fresh promising drops and attempting to flip them to resellers, either or elsewhere? Is this a feasible strategy in your opinion/experience?
I'm back from a long period of inactivity and a foray into Internet Marketing which saw me try everything from ghostwriting to site flipping and affiliate marketing.
Domaining, however, is where I started - where I dismally lost my first $200 - and where I belong. Like everyone else, I started off with the same newbie mistake of registering a dozen fresh domains and then expecting to sell them for $xxx each. Needless to say, I was shocked that this expectation didn't materialize (YouGotPwnt.com was a great name, I swear!!!)
Anyhow, I am now looking for a plan of action of sorts for getting back into the domaining game.
Step 1 of my strategy would be to start off by picking up and flipping to resellers dropped domains with potential, with the intention of making money off the sheer volume of sales, rather than enormous numbers (I don't expect to get more than low $xxx for one of those). For example, if I pay $69 to get one of those domains but I resell it for $120, that's $60 profit - and if I flip 20 domains like that, that's $1.2k profit there and then.
However, this initial flipping phase will enable me to build up my capital reserves and thus enable me to move up the ladder of flipping by becoming more involved with genuinely premium domains. They're more expensive, yes, but it seems that profit margins on those are much higher as well.
Finally, I expect income from premium domain flipping to allow me to begin diversifying my portfolio into development opportunities. This way, over time, I would eventually shift from flipping and more towards developing and recurring income.
My question is - does my strategy sound realistic to you? In particular, what do you make of the notion of picking up fresh promising drops and attempting to flip them to resellers, either or elsewhere? Is this a feasible strategy in your opinion/experience?
