Do you make a living selling domains?

[Shawn Haghnazari]

I was wondering if people actually make a living solely on buying and selling domains.

 

[teper]

Nope

 

[kemjika11]

I used to.

Legend.

 

[elevator]

I was wondering if people actually make a living solely on buying and selling domains.

Precisely to answer your question ; I will say yes, capital YES. But this is quite based on experience. and available cash for the business. I f you have the good knowledge of the business you can fully dependent on domaining wherever you are in the world.

No, no one makes that much!

How do you mean?

 

[Nikhil Jain]

I live in Vietnam, where people can live well with only $200/month. The Director salary here is just $2000/month.
Selling more than $40k this year (2% of my portfolio - which cost me only $1500 for those).
I could reach at least $55k sales in 2018 if i accepted all offers - but i don't have to do that.
Of course that all my profit is turned into inventory - 98% domain was not sold.
But they are good .COM domains and i could hold them for a long term.
I'm planning to reach $150k in 2019.
When i posted my entire portfolio in early 2018, people laugh and someone said i would earn only $5k yearly with this type of portfolio.
So the key factor is : keep learning, keep working, keep fighting and don't complain, don't explain.
You don't have to listen or think about people's thought.
You have to build your own strategy, your own plan. Everyone has their own resources (Time-Money-Skills) so their strategies are different, you could not win this game if you just only copy another guys tactics ( i've seen many domainers bought tons of names that similar to a domain that had been sold in the past).
I have a 5-years plan - all my profit would be turn into domains. I'll buy at many quality domains as i can in 5 years.
But if you live in Western Countries, it's really hard to become a full-time domainer. You have to pay tax, insurance. Your wife needs cosmetics and your kids need braces.
It takes more than 3 years to get $100k if you do right and work really hard.

May I learn the size of your portfolio?

 

[Kazzia]

I live in Vietnam, where people can live well with only $200/month. The Director salary here is just $2000/month.
Selling more than $40k this year (2% of my portfolio - which cost me only $1500 for those).
I could reach at least $55k sales in 2018 if i accepted all offers - but i don't have to do that.
Of course that all my profit is turned into inventory - 98% domain was not sold.
But they are good .COM domains and i could hold them for a long term.
I'm planning to reach $150k in 2019.
When i posted my entire portfolio in early 2018, people laugh and someone said i would earn only $5k yearly with this type of portfolio.
So the key factor is : keep learning, keep working, keep fighting and don't complain, don't explain.
You don't have to listen or think about people's thought.
You have to build your own strategy, your own plan. Everyone has their own resources (Time-Money-Skills) so their strategies are different, you could not win this game if you just only copy another guys tactics ( i've seen many domainers bought tons of names that similar to a domain that had been sold in the past).
I have a 5-years plan - all my profit would be turn into domains. I'll buy at many quality domains as i can in 5 years.
But if you live in Western Countries, it's really hard to become a full-time domainer. You have to pay tax, insurance. Your wife needs cosmetics and your kids need braces.
It takes more than 3 years to get $100k if you do right and work really hard.

I would say to get to 100k it would take 10 years minimum and 20,000 hours of effort and a budget of 10k per year for acquisitions and renewals. That is for the smartest and hardest working. Or, if you have a large budget, perhaps 3 years and 6000 hours to get good, and a 50-80k budget per year.

 

[Kazzia]

Lol very true but even just building something simple on a domain gives the seller more power when an end-user comes looking to purchase.

I have tried building little sites just for possible resale value. Never sold any but spent a lot of wasted time. I would say that is an impossible and fruitless endeavor.

 

[Kazzia]

Do you make a living selling domains?

I have wealthy friends, and I make more than all of them from selling domains and nothing else. I am in the top 1% thanks to selling domain names.

The catch? I’ve worked harder than 99% of you for many, many, many years. This is the reward. Until you work that hard for that long (do you have it in you?), you will not see the same results. That's the hard truth.

This is what separates people like me from 99% of the world: hard work. It's the same in this business.

Kudos to @Ali for his post. Saved me time of typing it myself.

If you are that successful you are not only in the top 1% you are in the top .01% or perhaps .001%. Can I ask how many years, how many hours spent plus your budget for acquisitions and renewals?

 

[Asset Profit]

There is a Filipina who was scooping up expired Domains creating no traffic no revenue Starter Websites on them with automated News Aggregators and in 6 Months had made over $50,000 on Flippa. Then she was smart enough to create an Info Product giving the exact steps how she does it and that also gives her a list of buyers in domain niche she can continue to promote to and even sell available domains for sale directly with no fees.. That is making a living my friend. Out the Box so to speak.

 

[GeorgeQuang]

Even in non-western countries people have to pay tax (very high and on nearly everything in many countries), you have insurance and compulsory insurance on vehicles, people do use cosmetics and many kids do have braces on their teeth. Even i had it even though i'm not from western country.

In many developing countries like VietNam, we do have those too.
Of course with the lower price.

 

[werty]

I do and have for the last 10-11 years but I don't consider it a "career" anymore.

 

[Soofi]

Sound advice

sh*t - just my family credit card bills are around $10K CAD per month... Of course that doesn't include nearly all the monthly bills. Average home in Canada is around $500K, and in BC where I live, its $730K. It easily takes 6 figures to live here - which is why most families need both husband and wife to work.

I could consider moving someplace with a much lower cost of living - but I actually love living where I do. It's hot and sunny in the summer for pool & lake activities. Great biking most of the year, its fantastic skiing in the winter. Its beautiful views of mountains, valleys, orchards, etc... Sometimes there's a price to pay to be happy.

I've been lucky enough to not have a job since 1999 and my wife hasn't worked since 2000 when my daughter was born. I did web development for a few years which is what led me to understand domaining - which I really started in early 2004, focusing on .CA domains only and quickly weaned myself off of doing development work for other people. I have made lots of money domaining and lost lots of money trying to develop domains. So be careful if you're trying to develop. Don't just throw money at a project assuming it will pay off, and don't spend money you can't afford to lose. Also realize you can't do as good a job of domaining while trying to run another project either.

So if you want to make a living from domaining, there are two ways. 1) You broker or flip domains which means you never escape the daily grind. Or 2) You need to build a large quality portfolio and eventually sales cover your expenses and living.

If negotiating a sale, be sure you make plenty enough from any sale to in turn restock the portfolio with a much better domain or domains (so that you're always trading up). Re-invest EVERYTHING you can into the BEST domains you can buy. If you're working another job, live off that and don't pull money out of your domain business. You will also need to be willing to say no to very good offers to be able to make great (6-figure) sales. You'll never make a 6-figure sale if you keep accepting 4 or 5 figures - so know EVERYTHING you can about your buyer and know your domain (and the market for it). You might need to have a bank roll or line of credit to survive the slow years - there will be some. When things are good - pay for your renewals in advance a few years.

I don't do outbound sales, and I don't pre-price my domains. I quote every inquiry after researching the domain, the market, the buyer, etc... Keep track of all your inquiries, how you responded, what you quoted, what their offers were, etc... Review all past inquiries before you respond. If they try and negotiate price, offer them something other than a discount (like free financing i.e. payment plan, lease option, etc...). Never show weakness or sound desperate for a sale. Be friendly and helpful but just let them know the price isn't really negotiable - for some reason everyone thinks domainers are selling from a street cart in Morocco or something and that you gotta cut the price in half otherwise you lose the game. I feel that not being willing to negotiate much shows that you're _not_ a street vendor - and instead are a respectable business.

Don't be afraid to ask for high prices, sometimes that makes a domain look more valuable by pricing it high. Luxury goods are usually just over-priced stuff to show the world how rich you are. Domains aren't much different sometimes.

Here's an interesting example. I have a domain I owned for 14 years that gets at LEAST one serious inquiry a week, many from existing businesses using a similar longer 2-word domain, some are startups. Over those years, I was originally asking $50K. Then I bumped it to $100K. Then I bumped it to $150K. Then I bumped it to $200K. Now it just sold. Counter-intuitive, right? Now I've got another well funded startup asking me to bail on the current deal because they'll make it worth my time. Unfortunately - I can't because I have a counter-signed contract - just waiting on payment. So I'm pricing my best domains higher and higher and having success. It's worth the wait. The reality is, the big companies who want your domain are willing to pay big money. Don't be afraid to ask for it, don't be willing to take less if you don't have to.

That's how I've made a living from it.

 

[werty]

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