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!

 

[Crysis]

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

 

[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.

 

[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.

 

[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!

 

[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....

 

[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.

 

[Giode]

A few weeks ago was my ten-year mark as a member of this forum (and in this business). I remember feeling that the ship had sailed and there was not much opportunity for a late-comer at that time. It was not a great feeling.

Ten years later, through a lot of hard work and persistence, I can tell you that I was wrong. There was still opportunity back then, and believe there still is now.

It is much harder these days then it was ten years ago. Bargain prices for great domains is much less likely. Years and years of low-ball domainer spam have turned off the owners of great URL's, to the point that very few reply. Not even to genuine inquiries with large offers attached to them. Ten years ago, this was not so much the case.

I believe there is still opportunity. But, only for those who take the time to truly learn. That means immersing yourself in this business and being patient. Most want to make a quick dollar, which is why you see so many low quality names being registered and listed for sale on this site. I made some mistakes here as well that I can look back and laugh about. But I learned soon enough the value of learning before spending. Most reading this want it now.

Persistence is probably one of the most important characteristics a person can have in this business. Persistence to work hard and find new ways to create opportunities. Think creatively, rather than follow the crowd. They believe that if others have succeeded, so can they. It is that persistence that creates "luck", and you won't thrive in the domain business today without some luck.

Having a cash reserve helps as well I started with $7,000 in 2007, and have turned that into something that has allowed me to work from home ever since.

 

[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.

 

[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.

 

[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.?

 

[SpareDomains]

Successful domaining requires a handful of skills...

1) Buying The Right Domains
Buying the right domains is the #1 thing you can do to increase your chances of success.
Where is the money? End user sales
Who are end users? Businesses with a product or service
Can you pick a portfolio of domains that an end user would want to increase your chances of a sale?
Ask yourself if I was in this business would I pay $500-1k minimum for this domain or could I find an alternate available for $10?
Turnover rate is low so if you have a portfolio of winners you'll be profitable if not you'll hear crickets as there will be no demand for your domains and the renewal monster will eat you.

2) Sales Landers
Do your domains lead to a clear simple sales page that makes it easy for an end user to understand the domain is for sale so they can submit their offer?
Do your sales landers load quick as slow loading landers could be closed before they fully load.
The average internet user is easily confused so simple works. Logos, graphics etc... may look nice on your site but they don't help sell domains. Domain quality is #1
Still parking domains? Make sure to use a parking company that has a big sales link located at the top of the page not buried at the bottom as a good domain sale can trump many years of parking earnings.

3) Distribution
List your domains on your own site, sedo, afternic etc... as good domains that nobody can find won't lead to sales.

4) Negotiations
Most of my sales since 2003 have come direct to my own sales landers which gives me name, ip, phone, email etc... to research who I'm dealing with and capitalize on sales without paying commission to an aftermarket.
Can you handle negotiations on your own through your own site, bodis sales pages, efty etc... or do you need to direct them to a better negotiator and pay a commission? If you do them on your own over time you will gain more confidence/experience as you talk to more end users.

So do I think you can make money starting today=Yes, but it requires a complete set of skills that some just get or can be taught and others continue to buy domains for many years later that have zero commercial appeal. If your domains don't appeal to end users than you will never see end user money. Good expired domains you can buy low, be patient and ring the register with an end user. Bad domains you can buy low, renew for years and eventually drop. Choose wisely.

 

[Pierre Barnard]

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

 

[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!

 

[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]

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

 

[imadoer]

I think almost anyone can do this if they want it bad enough. I came into this business not knowing anything about domains or websites. I didnt even know much about going online. This was all like a foreign language to me. I'm no genius my road wasn't easy. I grew up in the ghetto. Had to struggle everyday. I didnt go to college and my writing skills are terrible. I screwed most of my life up. However I didnt let anything hold me back I wanted be a successful domainer. I saw the money. So I worked like a machince studying ,networking and learning from different people. I make money from domaining. I dont have a job. This is all I do. I started in jan 2015.
If I can do this, You can do this. Get off your lazy asses and put in the work required to become successful.

 

[davidc1]

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

 

[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

 

[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

 

[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

 

[Aspiring Billionaire]

Can newcomers to domaining still make it realistically?

The short(er) answer is ... "Hell Yah!". In fact, I'd bet that if someone starts five years (as an example) from now, they'll make it too.

Although, the more important question is ... "How" - to which the answer is ... "Learn all there is to know". So based on the answer, the "make it" part won't come without patience and time.

Anyone who's been domaining for a year without any success is either (1) not committing to it seriously, or (2) is purposely doing it as some form of part-time hobby.

In my experience, domaining is the simplest and most cost effective way of making serious money (in terms of time=value) today - period.

And best of all, the information resources are free .

 

[hookbox]

Takes a lot more money so has a lot more risk. Can you hand reg names and sell them for $100,000? Absolutely not. Can you handreg names and sell them for a few grand? Absolutely! Can you purchase aftermarket names for a few thousand and sell them for $100,000? Anything is possible in this business but far from easy since it's become saturated with more sellers than buyers.

A few years ago you could build a nice portfolio for under ten grand but now it would take five to ten times that to build the exact same portfolio. Way to many people involved in domaining now and most of the good niches have been fully mined. The guys that make the tools for this business have the ability to really kick ass just like the guys who sold picks and shovels during the goldrush.

 

[Kuffy]

What is a successful domainer? I think it is a person who acquires domain names to achieve an end. Most people seem to assume that the only end is to make a quick profit by selling them. There are other reasons.

- Purchasing names as part of a pension plan. The income can provide a pension
- Hedges against the collapse of fiat currency
- Registering names as an investment for the future.
- Using names as a tool to achieve a political or other objective.