This video is pure madness, The whole list of 300 domains is not worth $1. 3k down the drain.
Thanks for that. I watch DomainSherpa but didn't see that one. It's a great one. It takes all the mystery away from Rick. Regular guy, interesting fellow, very bad hand regger today.
Just read and reread this today. Very good stuff and a lot to take away from it.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!
I probably would have slotted some money for drop lists, eBay, name pros, that kind of after market venue.
Agreed
Doesn't seem to far fetched. About 11,000 domains sold at 100 bucks a pop minus reg fees will get you 1 million bucks. 11,000 domains is really not that many when you think about it.some rep somewhere once told me they saw a guy who's been strcitly handregging stuff ... for years ... and seling for XX bins.. that's many bins and many sales.. they said he's a millionaire today
I guess that's one way of getting there heh
..... but then some other guy told me he saw a fairytale.. so you just can never be sure...
like this guy here lol:
I don't see the problem at all. You can evaluate your current portfolio with the knowledge you gained and sort the names to the "good" ones and "toxic" ones. For the good ones the strategy would be like you wrote - hold for long term and willing to sell anytime! The "toxic" names you can either drop or auction off for $1.If I knew then what I knew now, I would have done this . . . I would have 10 domains that I was willing to hold for the long term, but willing to sell at anytime. Then I would have said I get $599 to hand reg 100 names, and then hand regs got to 100, thats it until I sell hand regs. So a portfolio of no more than 100 of my own hand regs
This is my policy at the moment, with one exception. Rather than trying to sell medium to good names, I'm looking at monetising them. I'm especially interested in sponsors who will provide a generated sales web site so that I can use a name with minimum effort.I don't see the problem at all. You can evaluate your current portfolio with the knowledge you gained and sort the names to the "good" ones and "toxic" ones. For the good ones the strategy would be like you wrote - hold for long term and willing to sell anytime! The "toxic" names you can either drop or auction off for $1.
After you have done it you have drawn a line. Under this line you add only names with the new criteria.
With this method you clean up and save some money and get mindpeace. If you will chase the sale for every "toxic" name you will get crazy. Focus only on the good ones!
You can become a nurse or teacher, be ineffective/ poor at your job, and still get paid. Domain investing doesn't have that predictable income, rather the opposite with annual liabilities unless you really have 'assets' that can keep you floating or shoot you out of the water to safe land.
Singing and acting do take talent, yes. Absolutely but you also learn to be better. You get taught to be better. Experience, coaching, practice, etc. etc.
There is a big difference between anyone and everyone don't you think? The question was "Can newcomers to domaining still make it realistically?" I am not saying everyone will make it, I am saying anyone can make it. In fact I said most anyone can be taught to do those three skill jobs you mentioned. I think most anyone can be taught to be a successful domainer. I do not think everyone will become a successful domainer . . . even though how we define success could be a lot different.
And that is, in the same way that we have opportunity or potential with education or domains, we do not have EQUAL opportunity. I did not have the same opportunity to become president like President Trump. My students at school do not have the same opportunity to become president like President Obama.
