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!

 

[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.

 

[urlurl]

Yes, having a (competent) veteran mentor is always a good idea.

 

[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.

 

[urlurl]

"The smarter your are, the less you have to work"

 

[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.

 

[urlurl]

Thanks Jay, well said

 

[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.

 

[biggie]

Many domainers have wrecked their ships on the rocky shores of Renewal Fee Island.

lol RJ

i could see that, especially if everybody is following the same map, looking for same buried treasure.

the weather started getting rough,
the tiny ship was tossed.
If not for the courage of the domainer crew
All their money would be lost.
All their money would be lost



imo...

 

[imadoer]

Why can't they I know lots of people who haven't done this long that are doing well.

All good domainers where new at some point

 

[Dondomainer]

If you buy for $1 and sold for +$100, It is already a success, keep in mind that there is a very small number of domains suitable for sale.

 

[urlurl]

i'd rather buy for $xx and sell for $x,xxx

 

[elevator]

Domaining looks very easy but very complex, Yes new domainers can make it, but with time, it is like in every other business where you will go through series of learning and development. you must learn and sow seed watering and wait for growing and ripening.
Yes some new domainers have made and some have left and some are still in the business.
Someone like Ali Zandi read his many stories within short time in domaining biz many of them like that
http://www.domainsherpa.com/ali-zandi-flips/

 

[CdotFU]

“Difficult to see. Always in motion is the future... You will find only what you bring in. Many of the truths that we cling to depend on our point of view.

Foreplay, cuddling – a Jedi craves not these things. Do or do not. There is no try.

You will know (the good from the bad) when you are calm, at peace. A Jedi uses the Force for knowledge and defence, never for attack.

PATIENCE YOU MUST HAVE my young padawan” ~ Yoda

 

[ksusha64]

Guys from the 90's will get eaten alive by young guns today. Everyone knows it. Tons of new talent in domaining and doing great. Most so called famous domainers will not last 1 month in todays market.

 

[Josh R]

Guys from the 90's will get eaten alive by young guns today. Everyone knows it. Tons of new talent in domaining and doing great. Most so called famous domainers will not last 1 month in todays market.

I agree.

Watch below video.

http://www.domainsherpa.com/rick-schwartz-handreg-interview/