Buying spree...

[labrocca]

I just closed a $xx,xxx deal this week. I am now on a buying spree and I wonder how others deal with their income and how they reinvest. I feel like I need to place back at least 25% of all income back into domains...and that doesn't include server costs or hosting...just renewals and new purchases.

So far this week I have spent $1200 and I plan to drop at least another $2k-$3k in the next 2 weeks.

 

[bizwiz]

If I earned that much I would not spend it. I'll invest it offline like buy a condo being pre-sold or place them in mutual funds or time deposits.

 

[lpstong]

Nah... Labrocca is making a wise decision. He is only taking a percentage out for more domain investments online. Although personally I would only go 15 - 20 % tops versus his.

I would pay off as much as debt as I could. I would reinvest. I would possibly buy a new and needed item. Whether it be a house, car or appliance in the home. And than make sure I have some pocket money for fun. Maybe 5% to mad money - fun money to blow off some steam.

 

[shockie]

I would pay off as much as debt as I could.

- ^
- buy yourself a treat
- be a bit more liberal with reinvesting, although i wouldn't go over the 25% mark either

 

[NPQueen]

I agree with everyone else, pay off the debt first. Then reinvest some of it (will help with the taxes portion as well), put some away for the future when you are not having such a run of good luck and the money is tight.

And of COURSE buy something fun! :D enjoy your spending spree!!! Congratulations on the deal!

 

[billinchina]

Tempting Scenarios:

$10K-$20K: Invest it all in domains and websites

$20K-$30K: Buy a used 2001 Mercedes SLK-320 on eBay and sink the rest back into domains and websites

$30K-$50K: Quit your job and live on the cash for a year while you domain full-time and enjoy life.

$50K-$70K: Quit your job and buy the SLK-320.

$70K - $100K: Quit your job, buy the SLK-320, and spend mad money on domains and websites while you're at it.

 

[Michelle]

First off, CONGRATS on your sale :tu:

I agree with some above, pay off your debt .. re-invest alittle and buy a really nice treat for yourself

 

[snoop]

Invest it all back into domains then take out some debt as well!

 

[Michelle]

OMG Ive just seen your location ................. Las Vegas :hehe:

 

[.X.]

First Off, Nice sale , labrocca! Congrats! :tu:

I usually invest 25% back into some form of domaining, The rest goes to debt first, Then what i want, I made a sale 3 months back, I had desired a Toyota Tundra Crew Cab, for quite a long time, All my debt was payed up, So i bought a 2005 Toyota Tundra Crew Cab Truck, With 17,400 miles on it, With the 4.7L V8 i might add

 

[visoads]

care to share how you made that kind of money mate??? wink wink

im currently in some business that can generate that kind of money but in a timespan of around 4 months.

 

[labrocca]

Tempting Scenarios:

$10K-$20K: Invest it all in domains and websites

$20K-$30K: Buy a used 2001 Mercedes SLK-320 on eBay and sink the rest back into domains and websites

$30K-$50K: Quit your job and live on the cash for a year while you domain full-time and enjoy life.

$50K-$70K: Quit your job and buy the SLK-320.

$70K - $100K: Quit your job, buy the SLK-320, and spend mad money on domains and websites while you're at it.

This is my job. I stay at home and type all day to make money. No boss, no hours, and no limit to my earnings. I haven't had a "boss" in about 13 years now. I am 37 btw...so you do the math on that.

I already have a house and 2 cars. I already have a retirement fund. Oddly I just bought a week vacation package to Cancun in January just before the deal appeared. So that's already in the works and paid for. I have all the toys I want...expensive TV, $10k stereo setup, pool in the backyard, and a fairly new computer. There isn't much I want to buy.

The bills make up about 60% of this money...so I will have 40% remaining and will be clear of debt. I have already made about 10 deals in the past few days. Spending has been about $3k so far.

Someone asked me via PM where I got the domains. One was a registration the other I believe I got here for about $75. The websites were forums. It's mostly what I focus on. While I don't make a success out of every site I build I do make at least 1 or 2 solid sales per year on average and lots of little sales that keep me cash infused.

Last year in August I was struck with a $23k payout of an old debt from my past business in a settlement. I was broke quick and been broke since then. Instead of focusing on purchases I focused on development. While I did make lots of $xx deals...my main focus was development since it's cheaper and I do all the work myself. So this sale validates that work in a very solid way.

Don't get the impression that I am rich either. I just live well. I don't have fancy cars or a fancy house. But it's nice and I live within my means without struggle.

Oh and next month I have another $xx,xxx check coming in as part of a settlement someone owes me. That money is gonna be my 2008 capital where I hope to earn $xxx,xxx for the year. I have yet to hit that mark in domaining and it's pissing me off.

I plan on releasing more detailed information about my deal and how I went from domain registration to sale in an ebook. I will use the ebook to launch a new webmaster site I been developing the past couple months and it's something I plan to place a lot of energy into. It will be geared more for webmaster and developers than for domainers like this place is. Who can compete with RJ and the best domainer forum around?

Thanks for reading.

 

[billinchina]

Sounds like you're in good shape! I'm glad to hear that you've managed to break out of the box.

 

[sashas]

I had a couple of high xxxx sales in the last two weeks. I invested almost about 85% of the money back into domains. I was able to buy a couple of names that I know I can flip again for 2x,xxx. This way, the cash flow keeps on increasing until you can make xxx,xxx per year.
But then, I'm in college, so I can live very well on even a 1000 bucks. I don't have any huge bills, any debt to pay off, mortgage, etc, and I already took care of tuition. Things change when you have a family, a house, two cars, I presume, so you won't be able to reinvest all the money back into domaining.

 

[baseballworld]

wow nice sale. I agree with alot of the above. Id pay off debts and invest.

 

[weblord]

hey congrats on the sale :tu:

 

[GeoOwners]

Congrats...always inspiring to hear a good ending...you could buy a nice .mobi for that much

reading your situation, I'd prolly put it all back into domains...it's not hard to dig up a good deal, depends on the niche you like...maybe treat yourself and go to Traffic (not Vegas since you live there) or DRT and pick one up at a live auction.

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