Becoming a millionaire

[roboticman]

can someone starting now in domaining become a millionaire, what are the chances of becoming one or getting huge sales.

some names that sell for huge amounts don't seem that great yet they sell in xx,xxx range why?

I'm looking to try and make a million in domaining can that be done?


James

 

[Keith]

can someone starting now in domaining become a millionaire, what are the chances of becoming one or getting huge sales.

some names that sell for huge amounts don't seem that great yet they sell in xx,xxx range why?

I'm looking to try and make a million in domaining can that be done?


James

Getting rich by selling domains is not likely. I suggest building an online business to reach your goal :imho:

 

[FPForum]

I agree with Keith on this one. Getting into domaining today and becoming a millionaire from it probably won't happen. You can still make good money but you should look at buying/selling domains as a hobby or second source of income. Useful websites and applications are what will make you a millionaire these days!

 

[roboticman]

how did the big boys do it? surely they started from the bottom and built up buying good names, then selling/ buying better and so on untill they reach the big time.

I have $2k and i'm going to spend $1500 on a aftermarket domain spend $500 here and then try and flip for profit and keep doing it untill I have better domains better offers and keep going

this is what you all do right I have a day job, but I want to give this a good go.

thanks for your advice

 

[Ted.T]

You can become a millionaire... after being a multi-millionaire
To earn money, read more, learn more and spend less...
Check the domain carefully, better buy one premium then hundreds of bad-medium quality domains.

 

[Keith]

how did the big boys do it? surely they started from the bottom and built up buying good names selling buying better and selling for more and so on untill they reach the big time.

I have $2k and i'm going to spend $1500 on a afermarket domain spend $500 here and then try and flip for profit and keep doing it untill I have better domains better offers and keep going

this is what you all do right I have a day job, but I want to give this a good go.

thanks for your advice

Some folks make money flipping domains. In most cases it takes years to NOT lose money though!

You're thought of buying aftermarket is a good one. At least you can buy a domain that will have fair value.

 

[roboticman]

thanks guys, I left rep for you all

I'm new and I think it's best to listen and learn

 

[domainhacks-931385]

If you had a time machine maybe. Or if your name is Adam Dicker maybe. Registered things like Pig.com, Elephant.com, Giraffe.com. If that is your portfolio you can be one. But you are sure as hell not by reg-fee domains in 2013.

 

[roboticman]

but still can be done buying the right domains and building up

won't happen in a year maybe in 10 something to aim for anything is possible, man went to the moon

if I give myself 10 years I think I can do it

 

[enterpryzman]

you can still make money with domains however, not as easily as the " big boys " as you call them because they started early and scored big with little efforts. Going forward, I am certain you can still earn big money but you have to make smart moves and building an ongoing business of some sort online or enhancement of an offline company online seems best to me....good luck.

 

[Nattydomain]

This is a good topic. Millionaire may be but honestly if I could make 6 figures a year I would be grateful. At this point you can achive that goal this way.

Buy super prem domains for low $xx,xxx so like lets say you got the domain Flowers.com for $35,000. Mid xx,xxx but the flip would more then likely put you in the 6 figure range. Enough to do it again and still have money left over. Do that 5-6 times a year (every 3 months) then your on a roll.

OR

Buy up and coming domains. Se into the futue with things that are coming out on the horizon. You got to b knee deep into the futue. Read the right magazines, blogs about technolgy and the future. Bank on reg fee domains that may be talkd about later on so when it "hits" you got the exact match domain and you can maybe nam your price.

 

[alien51]

Your statistical probability of getting hit by a meteorite from space, while walking your dog on a Sunday afternoon, is much better.

You will notice that most positive advice you will get here about a newbie becoming a millionaire, are generally vague and "hopeful".

But if go down into the details of the dirty work on "exactly" how you can make it happen, there's a great chance your first activity is learning to SPAM the internet.

You also did not ask about your competitors in the same field. Ask me how many domainers there are in this planet who are also trying to become millionaires like you do. Ask me.

 

[Kate]

can someone starting now in domaining become a millionaire, what are the chances of becoming one or getting huge sales.

Zero.

You don't become a millionaire by chance, unless you registered sex.com or a name of that caliber back in 1994.
In order to make money with domains (not even talking about making a living) you need a sound business plan, that means hard work and adequate funding too. It takes money to make money. Now wake up :gl:

some names that sell for huge amounts don't seem that great yet they sell in xx,xxx range why?

Which ones for example ?

 

[bmugford]

how did the big boys do it? surely they started from the bottom and built up buying good names, then selling/ buying better and so on untill they reach the big time.

They did it by registering what are currently five, six, and seven figure domains long before there was the competition that there is today.

It is not possible to duplicate the timing. You can still make nice money with domains, but it takes the right skills, hard work, and a solid business plan.
You need realistic expectations when entering the business now.

Brad

 

[scandiman]

Buy super prem domains for low $xx,xxx so like lets say you got the domain Flowers.com for $35,000. Mid xx,xxx but the flip would more then likely put you in the 6 figure range. Enough to do it again and still have money left over. Do that 5-6 times a year (every 3 months) then your on a roll.

The problem with that strategy is it's based on wishful thinking.

 

[htmlindex]

can someone starting now in domaining become a millionaire, what are the chances of becoming one or getting huge sales.

some names that sell for huge amounts don't seem that great yet they sell in xx,xxx range why?

I'm looking to try and make a million in domaining can that be done?


James

I think it's possible, but you are going to have to wait for about 10 years & drop some big bucks buying quality names. If you are going to be buying ASCII names, I don't think this is possible as you will need huge dollars to buy anything of quality & the competition for buying those names are already huge & profit margins are quite limited. If you are buying IDNs you will still need big dollars to buy quality, but the upside for the future is way greater & more potential to make a big ROI on each name bought. These are just my thoughts on the subject.

 

[DnEbook]

But Dr Evil ............a million dollars is not what it used to be

 

[lincolndsp]

today in domaining it's possible to become a millinaire if you have $xxx,xxx to invest in domains and knowwhat you are doing.

such scenario is still possible in domaining today - buy domains like for property.com for $750,000 - later sell it for several millions
other than that it's impossibro

 

[mrcurly]

can someone starting now in domaining become a millionaire, what are the chances of becoming one or getting huge sales.

some names that sell for huge amounts don't seem that great yet they sell in xx,xxx range why?

I'm looking to try and make a million in domaining can that be done?


James

Hi RoboticMan,

I discussed the same a while back - http://www.namepros.com/domain-name-discussion/781321-flipped-up-to-1-million.html

Still trying

Cheers

Stu

 

[gmd]

Yes, there still a chance to be a millionaire, just wait to drop sex.com,cars.com,toys.com,financing.com,loan.com,bank.com and grab it! just make sure they'll drop first before you DROP!!!