How much money is needed to start a domain sales business

[DxDomain]

I am already registered some domain names but i am not know how much money need to invest in this field. Please share some thing about investment...

 

[nomen]

Basic rule of thumb: You're probably gonna lose everything in the first year or so.

Don't spend huge sums of money before you're more comfortable with the domain game. The learning curve is steep, very, very steep.

But don't be discouraged either. You'll get there if you really want to. If you're obsessed with money, find a different path. If you're obsessed with the Internet and language, you'll have a chance.

 

[DxDomain]

Basic rule of thumb: You're probably gonna lose everything in the first year or so.

Don't spend huge sums of money before you're more comfortable with the domain game. The learning curve is steep, very, very steep.

But don't be discouraged either. You'll get there if you really want to. If you're obsessed with money, find a different path. If you're obsessed with the Internet and language, you'll have a chance.

Thank for your reply. At present i have no income stream i will get better income in future and do well...

 

[Pattern]

You will learn the hard way unless someone takes you under their wing, in which case the learning will curve will be reduced but not gone completely.

You have to put in money to make money, that's how it works. They key is not overspending in your first year. Here is what I suggest. First, research and don't buy anything. When I say research, I mean every day look at comparable sales and what makes a domain valuable. Once you have that base knowledge set in place, you're ready to invest your first $100. Try to turn that $100 into $500. ONLY once you manage to turn that $100 into more, then you can advance and make that $500 into more. Then, advance again.

The first buys are the most important ones! They will determine if you have the cash flow necessary to advance in this industry. Choose wisely and use other people's advice.

 

[Name Trader]

With that $100. Don't buy 50 domains with $1.99 coupons. Buy 1 domain in the domain aftermarket (say with a drop-catcher), and sell that for $500. Or maximum of 2 domains. Buying a load of crap domains with your $1.99 coupons isn't spreading your risk.

Of course, flipping domains may get you there. But being a successful flipper is also an acquired skill. I've been in this business for 8-10 years, and I cannot flip for sh*t.

 

[DxDomain]

With that $100. Don't buy 50 domains with $1.99 coupons. Buy 1 domain in the domain aftermarket (say with a drop-catcher), and sell that for $500. Or maximum of 2 domains. Buying a load of crap domains with your $1.99 coupons isn't spreading your risk.

Of course, flipping domains may get you there. But being a successful flipper is also an acquired skill. I've been in this business for 8-10 years, and I cannot flip for sh*t.

Thanks for your great valuable suggestion. What is mean by domain aftermarket and drop catcher?..Thanks Stub...

 

[gene438]

Thanks for your great valuable suggestion. What is mean by domain aftermarket and drop catcher?..Thanks Stub...

Oh boy, you need to heed the advice above and research.... Then research again....all the answers to your questions are here, just begin reading the posts and follow the trails.... Takes time but the most efficient way to get where you want to go.

 

[onebrand.co]

.....Of course, flipping domains may get you there. But being a successful flipper is also an acquired skill. I've been in this business for 8-10 years, and I cannot flip for sh*t.

@stub - Howdy, your last statement is honest and funny (no pun intended). Cheers and all the best in 2015

 

[Nattydomain]

Oh boy, you need to heed the advice above and research.... Then research again....all the answers to your questions are here, just begin reading the posts and follow the trails.... Takes time but the most efficient way to get where you want to go.

+1 on this. When you ask the very basic questions and you are unsure then you need NOT to spend a dime on any domains and read, read, read. Take in all the info you can for the first 2 months. I know you prob see a domain you KNOW will sell very well (and I am sure you are 99.9% wrong) but let it go.

Some people can afford to lose hundreds before recouping it all in trial and error. Most of us can not and it sounds like you may want to save up $100 and buy 1-2 domains AFTER though you have done your research. Even then it may take 6 months, 1 year or longer to sell those 2 domains maybe.

Today is 1-1-2015. Take your stab at this venture around 3-1-2015 so that way you are well prepared with knowledge.

 

[Name Trader]

I can only echo what others have said. Don't buy anything for at least 2-3 months. I can tell you now, if you do, it will not be a domain anybody wants to buy.

The aftermarket is where you buy pre-registered domains. A drop-catcher, is a person or company who picks up domains when they drop from the Registry (not registered any more).

The most valuable thread on NamePros is "How to find end-users". You can search for it in the Message Search above. You should read every message in that thread. Which might take you 2-3 weeks. An end-user is somebody who actually intends to use the domain for some kind of business (most commonly), and pays retail price for the domain. Paying retail, they usually require a quality domain. Not some rubbish which most domainer's buy with a $1.99 coupon. Only a very tiny majority of these domains will ever get sold.

Beginners should only buy .com domains for resale. Almost everything else is illiquid (unsaleable). Most .com domains are illiquid too. Which is why you shouldn't buy anything in the first 2-3 months. Learn your trade first.

 

[NameOmnia]

Yes, don't buy for a while. Learn, research, follow sales, learn about extensions...

My personal advice is :

Stick with .com ( at least to begin with ) and/or with your cctld if you know the market.
If you have a field of expertise go with that
Avoid dashes and numbers ( yes...there are exceptions )
Register something THAT MAKES SENSE
DON'T put name for appraisals here on NP or you will soon find out how nice the pros are...
When you feel ready GO FOR IT! Follow your intuition.

With that $100. Don't buy 50 domains with $1.99 coupons. Buy 1 domain in the domain aftermarket (say with a drop-catcher), and sell that for $500. Or maximum of 2 domains. Buying a load of crap domains with your $1.99 coupons isn't spreading your risk.

I COMPLETELY DISAGREE

We, as domainers, are investors. Who would be so stupid to put ALL his money in ONE name? Would you invest all your money in ONE STOCK? No way.
I have been investing people's money for years and spreading your risk is rule number one.
If you have 100$ as a budget my advice ( after you studied and learned ) is :

Buy 2-3 closeout domains ( please try to buy some good ones... )
Hand register 20-30 domains ( hand pick them carefully ) possibly with coupons.
Don't rush, take your time
Be happy if you make 1$ profit ( aka don't be greedy )

Here you can find some interesting stories
https://www.namepros.com/threads/your-hand-regd-dropped-domains-success-stories.842433/

 

[indam]

If you are small, you have to be smart. If you have capital, you have to be bold.

Some help, Right now, I found these domains in the expireddomains.

hm2m.com
hlv5.com
apo4.com
cm01.com
3ris.com
jy8k.com
00kq.com

They are all short domains (4 -characters each). I registered apo4, but the rest are free as for the moment of this post.
There is another thread about Godaddy register codes. You might be able to register them for as low as 1.x$
So register for ~2 bucks. Sell them for 20$. Maybe buying 100 works...

 

[NameOmnia]

I am not sure that's the kind of names a self-defined newbie should register...

 

[briguy]

Buy 2-3 closeout domains ( please try to buy some good ones... )

great advice but exactly what are "closeout domains"

 

[NameOmnia]

great advice but exactly what are "closeout domains"

Bri is it a real question or am I missing something?

 

[iowadawg]

Same here, what is a closeout domain?

If talking a domain that the owner did not renew, could be a big reason why.
Like never being able to sell the domain.

 

[NameOmnia]

Same here, what is a closeout domain?

If talking a domain that the owner did not renew, could be a big reason why.
Like never being able to sell the domain.

It's all up to you to choose the right domains. Just because someone didn't sell a name doesn't make it unsellable.

It's not only me, the forum is full of success stories.
https://www.namepros.com/threads/your-hand-regd-dropped-domains-success-stories.842433/

 

[briguy]

Bri is it a real question or am I missing something?

no you are not missing something, just a new term for me. Bear in my mind, my history of buying domains (other than hand reg) is strictly from buying here at Namepros.

 

[NameOmnia]

no you are not missing something, just a new term for me. Bear in my mind, my history of buying domains (other than hand reg) is strictly from buying here at Namepros.

Oh...ok...from your badge I gave for granted you knew.

From GD website

" What is the GoDaddy Auctions Expired Domains Closeout?
The GoDaddy Auctions® Expired Domains Closeout is a 5-day "buy now" option for expired domain name auctions that have ended. A closeout is your last chance to capture great expired domain names at rock-bottom prices (closeout fee and registration fee) before we return the expired domain name to the registry. The process is a reverse auction in which the price decreases daily."

 

[Name Trader]

@photonmymind - Well we don't completely disagree We both think he should do research and choose his domains carefully. Where we disagree, is

Buying a load of crap domains with your $1.99 coupons isn't spreading your risk.

Who would be so stupid to put ALL his money in ONE name?

If he has chosen his domain carefully after 2-3 months of learning, then I would recommend my approach rather than yours. Only 1 renewal to take care of next year.

 

[NameOmnia]

If he has chosen his domain carefully after 2-3 months of learning, then I would recommend my approach rather than yours. Only 1 renewal to take care of next year.

If you take the responsibility of giving people advice then it would be correct, I think, to also state that, by following the strategy you recommend to someone else you, yourself, are actually losing money as you openly stated in another thread.

QUOTING : " I've got to make more money than I've done in the last 2 years, just to break even "

Otherwise we risk giving false expectations to people who are actually so humble to ask for advice.

 

[iowadawg]

Or you can reg a domain that comes up available. and a few days later get an email from the previous owner.
Like I just did now.
Regged it on 12-17.
Just now an email:
dear Joe.

how is it that my weedfolk dot com is registered to you ?

I can't access my site...
there is a bad mix up.

hoping you can help resolve this matter as i cannot get an answer from webs or go daddy.

kind regards
Lori aase

Sent her reply to see what she will offer to get her domain back.
hahahahahhaha
Weird, never happened to me before.

 

[Name Trader]

There is no anomaly here. Domaining is an extremely hard business to make a living wage.

 

[DxDomain]

+1 on this. When you ask the very basic questions and you are unsure then you need NOT to spend a dime on any domains and read, read, read. Take in all the info you can for the first 2 months. I know you prob see a domain you KNOW will sell very well (and I am sure you are 99.9% wrong) but let it go.

Some people can afford to lose hundreds before recouping it all in trial and error. Most of us can not and it sounds like you may want to save up $100 and buy 1-2 domains AFTER though you have done your research. Even then it may take 6 months, 1 year or longer to sell those 2 domains maybe.

Today is 1-1-2015. Take your stab at this venture around 3-1-2015 so that way you are well prepared with knowledge.

Thanks for your great reply.

 

[DxDomain]

Thanks friends for your great reply. I am learn more things about domain names use this thread. I will learn within 2-3 months and apply this things to domain business. Thanks