Can you be a succesful domaineer while working a seperate full-time job?

[WillW]

Can you be a successful domaineer while working a separate full time job?

I define being successful as being profitable to the point that you can live off of your earnings. It seems like to be truly successful when it comes to domaining, you have to either treat domaining like a full-time job or have unbelievable skills balancing your time and energy. I work a separate full-time job and it seems like I've spent just as much time, maybe even more time on domaining than my regular full-time job.

I know a lot of it depends on the individual, the current financial state of that individual, and the other full-time job, but I'm curious how many people on here flip domains for a living and how many people on here flip domains while working in other/multiple industries. It seems like it is possible to accomplish both at the same time, but I'm curious to hear what other people think and what other people have done.

Thanks!

 

[BaileyUK]

Trouble is with Domaining, It takes over your thought processes even when your doing your full-time job. Before you know-it your employer has got-you-down as being 'Absent Minded'

I'm retired these days, so for me it's just frivolous time

 

[Silentptnr]

To me, domaining is more like "investing" than "working".

Being a successful full-time investor is a question of being self employed versus having a job.

Difficult to answer really, but I would say yes it is possible. But who wants two full-time jobs? Not me!

 

[WillW]

@BaileyUK - Believe me I know. I'm 27 and I have gray hairs that I never had before I started domaining....

 

[WillW]

@Silentptnr - Very true! Self-employed and self-made is the ultimate goal but I do love my current job so I think it's more a question of what my ultimate end game is.

 

[Silentptnr]

@Silentptnr - Very true! Self-employed and self-made is the ultimate goal but I do love my current job so I think it's more a question of what my ultimate end game is.

Yep

 

[Silentptnr]

I would say most Domainers are hoping to become independently wealthy from domaining.

 

[BaileyUK]

I don't think anyone should dive-into domaining, bit like web-development, test the water and see how good you are and more importantly what finances you have in place to give it a serious GO.

As an old boy, I got a couple of years to build all my Want-lists in domains before the then Regulated price of $70 a time was abolished - Bloody hell of a lot of money back then, well was for me at the time

 

[WillW]

That's definitely my goal. I feel like to become independently wealthy, I need to give domaining a 100% commitment; day-to-day investing, keeping up with the market watch, domain promotions, learning and observing, ect.

I do agree that you shouldn't just dive into domaining without testing the "water" first. Definitely an important tip!

 

[learie]

Well, I have found myself in a betwixt for I have invested so much of my money in domains without researching the profession properly. I think that's anyone's first big mistake, nevertheless, I am a fighter so I know I'll find a way to make this work for me. I believe with passion and determination couple with proper research into how this domaining machine works anyone can be successful. Just my thoughts...

 

[trelgor]

I have a full time job. My domaining is currently more profitable, and I spend less time doing that. But domaining is not a sufficiently reliable source of income at small scale. To reach there you need to invest, and to do that you need reliable income. The goal is naturally full time and financial freedom.

 

[Bob Hawkes]

I never had a goal of making it into a job, and I believe the vast majority of domain investors view it as a part time 'second gig' or a sort of hobby. Yes, they hope to make at least a modest profit, but not expecting to be able to quit a full time job. I realize there are some exceptions, who have made it into a full time and successful career, and hats off to them. The problem with this as your only business is that it is very sporadic - yes occasionally a big profit, but also long stretches of nothing. For sure I would build up skills with it as a part time enterprise that you are not depending on for making money prior to diving in more deeply. Best of luck!

 

[biggie]

hi

if you have ft gig, with benefits... then best to keep it as long as possible

do domains when you can do them, either while at work or on the side

extra or unpredicted expenses, like health/dental or even needing a new water heater, can set the average worker back a few checks. and during those times,cash flow from domaining can come in handy.

trust me.... I know




imo....

 

[DBurn]

Working towards making it a full-time gig ... but yeah, then there's the health insurance and other benefits an employer gives you that is hard to beat. Will need to see a large steady income from domaining before giving up the job!

 

[Skyvisum]

Yes.All about commitment and dedication.As a domainer, you don't answer to anyone as you work for yourself with your money and like @trelgor, it can be more profitable than your income depending on how smart you go about it with your research and careful planning.I hope to see huge sales longterm and you need to have guts to take a risk and know what you are doing.

My plan is to build out other businesses with profits from domaining using some of the names I purchased.Nothing is impossible if you put your mind into it and plan wisely.Takes a lot of reading and picking out names that would sell which gives you confidence that you are doing the right thing.

 

[WillW]

Yes! Web development is something I'm definitely interested in pursuing along with domaining. I think if I'm at the point where the income from domaining becomes more steady and more profitable, web development would be the next big project for me. I have basic coding skills from previous college courses so I would definitely need a refresher, but I only see benefits when it comes to web development, especially if you deal with domains on a daily basis.

Seeing as self-employed and self-made is the ultimate goal, I think my ideal situation would be to have multiple sources of income coming in at the same time. Revenue streams that aren't sporadic and don't solely rely on the market and/or how many domains you sell in a month.The health insurance and benefits associated with a full-time job is definitely an important factor though. Definitely glad I live in Massachusetts right now seeing as they have free health insurance!

I've learned that networking is a very important aspect of domaining so I'm definitely glad I found NP

 

[WillW]

I think with more time and experience under my belt, and a box of Just For Men of course, I'll get there!

 

[DanielN]

I think domaining is a little too time demanding to be a good form of investment. I mean you can get 10% each year just for investing into stocks. And that literally takes an hour at most.
Domaining is more like trading so have to keep doing it.
Also, with a huge portfolio, you are racing against time due to the yearly reg fees.

 

[WillW]

@DanielN - I definitely agree that investing in the stock market isn't as time consuming as domaining. I started flipping to add another source of income that although may be sporadic, may come in handy at the right moment.

Unless I woke up with every 1 & 2L .com domain tomorrow, I don't think I could survive solely off the revenue from domaining, but that was never my plan to begin with. I'm always looking to learn and expand so I'll give it another year and see where I'm at then.

 

[papeter]

You need to research DNJournal and see the type of names that sell. Sedo seem to be selling a fair number of domains followed by Uniregistry.

 

[platey]

To me, domaining is more like "investing" than "working".

Being a successful full-time investor is a question of being self employed versus having a job.

Difficult to answer really, but I would say yes it is possible. But who wants two full-time jobs? Not me!

I had a job and would still be in it but for an unforseen occurrence

But I have enough domain stock that I suppose if I really put my mind to it and set monthly targets etc I suppose it could become my full time job but my investing strategy is much like Warren buffets eg buy wisely and let time add value to the investment over time

Even in domains there is only so much quality stock and by continually buying and selling and then gave to find more quality stock to buy and sell etc a person would accrue considerable fees and commissions over time but an investor that isn't interested in selling any of their domain stick will end up continually turning down offers for domains in that stock until a lucrative offer comes in that is too big to turn down and accept it etc but this method would reduce vast amounts of fees over time

As long as I have approx 50 quality domains I can sit on I'm not that fussed if they sell or not

And happy to work elsewhere as well

I saw a job at gd advertised today which I thought would suit me but saw the skills required etc and thought it doesn't take any skills to say thanks for your offer but no thanks lol

 

[platey]

@BaileyUK - Believe me I know. I'm 27 and I have gray hairs that I never had before I started domaining....

Oh to be 27 again mind you 28 was much better (grins) lol