Can newcomers to domaining still make it realistically?

[dotgold]

For people entering the domaining world, can they actually make a living buying/selling seeing how things are so competitive and scarce?

Are their any examples of people who recently got into domaining and are doing very well? What sort of investment did they make?

Thanks!

 

[Silentptnr]

Thats a good question but complicated to answer.

The industry as a whole is great. Being realistic is important in any type of business.

Like any industry, there are part-timers, full-timers, failures and superstars. Too many variables to generalize.

 

[Pierre Barnard]

I believe so, otherwise I am wasting alot of time... Is it easy? No.

 

[Isac]

I am new comer and i started learning domaining from jan 2017 . Most of us think at first this is some kind of lottery, then we fell for keywords , we don't bother about extension . we don't bother about matching extension to language . We are impatient, we think today we bought domain and tomorrow it will fetch 1 million. We think our domain is best in the world, no matter how much crap is that . we are not ready to learn. we think we are going to become millionaire overnight.

Those who will overcome these obstacles. Congratulation your domaning career is started and i guarantee you will do good in future.

 

[davidc1]

To succeed you dont have to make same things as others.

 

[Kate]

It's never too late. It's just like in any other industry. Can you make a living ? Yes, but it's difficult. It's not for everyone. It's going to be a full-time occupation. If you treat it like a pastime then you'll make pocket money at best.
For example F Shilling is a relative newcomer, so is Huge Domains. If you look around, many of today's players weren't there ten years ago.

 

[Crysis]

15 years down the line, you will say - "Wish I had started domaining in 2017"

 

[1Darko]

It's never to late to start. Dream big but be realistic. There is no easy money in domaining. Be aware that domaining will consume a lot of your time.You will probably have success if you are an "allrounder" and run it like a business. That said you will have to apply all skills you can think of and beyond.
On the other hand it could be your hobby and have a good time.

In any case I wish you all the best!

 

[WalkerCorp]

I hope that I didn't start too late. I would like for this to be a nice side income for myself.

 

[dotgold]

BTW I never said I was new to domains, but I only got into it as hobby or very much a side thing.

 

[1Darko]

BTW I never said I was new to domains, but I only got into it as hobby or very much a side thing.

Well, sometimes you get more than you wished

 

[biggie]

Can newcomers to domaining still make it realistically?

depends on what you bring to the table

cuz the table,

is important part of domaining.

it also bout, what you take away from the table

and....

what you might leave on the table.

now, take a seat, sit back and read

chew on a few things, but don't swallow everything that's being served

ask, "what's in it" first, know who's cooking and always wonder why they are trying to feed it to you.

Good Luck!


imo....

 

[Ategy]

The first thing you need to know if you want to make it is that most people don't.

I'm not saying this because I've interviewed/talked to a lot of domainers necessarily, but because by now I've put in hundreds of hours (probably more) going over domain expiration list and reviewing auction lists. What all that information I've learned from that has told me is that:

Most people have registered and still register horrible domains!

I've found there are 2 characteristics that mark most of the more better domainers (aside from experience and all the other obvious stuff):

1- Good domainers are very knowledgeable.

2- Good domainers have a good command of the English language.


Obviously there is more to it, and if you're only focused on supershort domains or numerics and/or very local (non-english specific), then you can certainly still do well in such specific niches.

However finding a good domain is like finding out a good piece of art. You have to know (or be able to research and understand) the subject of the domain, as well as know if the wording "works".

Pretty much ALL domainers make mistakes and have grabbed bad domains. But having those 2 qualities help limit the damage that can be done. The two biggest mistakes made by domainers are:

1- Most domainers buy domains that nobody will be interested in.

2- Most domainers buy domains that are not worded properly.


1- Knowledge: When it comes to being knowledgeable there are two factors. One is knowing about the domain industry itself, and for that there is tons of information available most importantly here at NamePros, podscasts like @DomainSherpa's and the many blogs out there like @Domain Shane's. Spend hundreds of hours listening and reading and you certainly can improve on this front. However there is another important part of knowledge that applied to domaining that isn't mentioned often ... and that is "general knowledge". If you have a bit of knowledge on large number of things, then it definitely helps you identify domains for cheap that probably would have been missed by another domainer who didn't know about the subject. The more you open your horizons and learn about the world around you, the more you'll be able to find domains that others don't.

2- English: Obviously the entire world does not center on English. But global finance and information does. The best way to waste money in domaining is putting words in the wrong order or putting the plural version of a word when it should be singular (and vice-versa). Unfortunately there is no short term fix for this .. you need to learn English .. and be good at it. Otherwise you will miss out a lot of opportunities .. and more importantly .. you will waste less money on badly worded domains.


https://www.namepros.com/threads/my-second-year-has-come-to-an-end.1008990/#post-6066751

Please don't take this as me saying people cannot be good/successful domainers without these 2 factors ... however I am saying that your chances of being successful (already very difficult for knowledgeable English speakers .. lol) will go up significantly if you have those two traits behind you.


Anyhow .. another huge factors are hard work and dumb luck ... so aside from all the recommendations I mentioned above .. I'll also wish you lots of luck!

 

[urlurl]

to start from zero today, no you can't make an instant living off of domaining

Now, if your future plan was to eventually make a living of domaining after putting the leg work, research and gain experience over a period for time, the answer is: maybe/yes

 

[Brand Consultants]

You certainly can. I started in 2014. (I was pretty terrible and bought some awful names).

Since then I've spent hours reading and still learning every day.

I currently have a domain in Escrow that was purchased for 3k roughly 6 months ago and now being sold for 30k.

Like everything in life, it requires you to work hard, make smart, informed, decisions and most of all GRIT.

Best of luck to you.

 

[E-Promote]

A quote from one of my favorite domainers

The truth hurts, that's why you won't hear it often and why people don't often try to sell it. Most people sell hype. Why? Because hype sells.

Instead focus on the truth, the reality.

• It's a job, it's a hard job, a grind.
• You have to study, you have to work hard, you have to grind day in and day out, every day.
• You need to do it because you are drawn to it, because it's a passion for you (investing). If it's not, find something else that is.
• It's a lot of "alone time". Researching, tracking and thinking about domain names.

It's not an unattainable dream, it's a reality, but only if YOU make it one.?

 

[urlurl]

You certainly can. I started in 2014. (I was pretty terrible and bought some awful names).

Since then I've spent hours reading and still learning every day.

I currently have a domain in Escrow that was purchased for 3k roughly 6 months ago and now being sold for 30k.

Like everything in life, it requires you to work hard, make smart, informed, decisions and most of all GRIT.

Best of luck to you.[/QUOTE



Nice sale by the way,

but it takes years to get going and even longer to get consistent sales. You can't make a living (where life expects you to pay bills, put food on the table, etc) with a sale here and a sale there.

I don't think you can start out of the gate and make $50k to $75k in the first year (unless you have major capital)

Best to try it on the side until you can get consistent sales (or you are still living at home with no expenses)

Nice sale by the way,

but it takes years to get going and even longer to get consistent sales. You can't make a living (where life expects you to pay bills, put food on the table, etc) with a sale here and a sale there.

I don't think you can start out of the gate and make $50k to $75k in the first year (unless you have major capital)

Best to try it on the side until you can get consistent sales (or you are still living at home with no expenses)

 

[Corey]

g'day dotgold and welcome to NamePros,

develop skills in as many areas as you can, for example, learn CMS (Content Management System) & develop domain names into a website.

Cheers
Corey

 

[RJ]

It doesn't take a lot of time or money to dabble in domaining as a hobby. I think it's the perfect side hustle.

It's difficult to create a steady income as a domainer. I wouldn't advise trying to make a career out of it until you've gotten your feet wet and had long term success. There is lots of great advice in this thread and all around this forum. Don't spend more on domains than you can afford to lose.

 

[urlurl]

It doesn't take a lot of time or money to dabble in domaining as a hobby. I think it's the perfect side hustle.

It's difficult to create a steady income as a domainer. I wouldn't advise trying to make a career out of it until you've gotten your feet wet and had long term success. There is lots of great advice in this thread and all around this forum. Don't spend more on domains than you can afford to lose.

its a side thing for me too, it enjoy the bonus cash and not having the worry about selling a domain a week to pay bills

 

[RJ]

Trying to force domain sales when you need cash and nobody is buying can be really difficult. You will end up selling your best domain assets below market value and regret it later when you're left with nothing but scraps. Many domainers have wrecked their ships on the rocky shores of Renewal Fee Island.

 

[urlurl]

Trying to force domain sales when you need cash and nobody is buying can be really difficult. You will end up selling your best domain assets below market value and regret it later when you're left with nothing but scraps. Many domainers have wrecked their ships on the rocky shores of Renewal Fee Island.

very well said, was think the exact same thing. When you need the money and you are desperate you will end up selling for pennies on the dollar. You need to have the patience, flexibility and capital to sell when you want to sell.

 

[fatter]

Succesful domainers imho operate in the black, many new domainers reg hundreds and thousands of domains right off the bat, renewing becomes almost impossible to maintain. Even though they may have sales overall they operate in the red, year after year.
Best strategy in my view is stay small so one or 2 sales a year cover reg fees, until the new industry technology names come into play and can be sold for bigger amounts.
Joe T

 

[urlurl]

slow and steady is the best strategy - you don't want to be like this guy

 

[Robert G]

no, unless you partner with someone.