How to spend $8000 wisely?

[Frank83]

Hi guys, I have around $8000 max for domain investing and I would really appreciate suggestions as to how to go about spending this in a wise way. I've been learning about the domain business for the past 5 months, so while I do have a good idea of how things work, I would appreciate any specific suggestions as to how to spend this money in an effective way.
I should mention that my strategy is purely flipping of high quality keyword-rich short domains or generics. I'm not that much into development.

Looking forward to people's suggestions. Thanks everyone!!!!

 

[Dean]

I think spending the amount on around 2-4 domains would be best and only buy if its a real bargain considering the current economic situation.

 

[rome2ng]

yes, exercise cautions on what you want to buy.

Since you are entry level and also as Dean has pointed out, 2-4 domain is a good buy.

No point cashing it too many... rather spend time developing it

my 2cent worth.

Good Luck tto you

 

[shockie]

flipping might take awhile as people don't seem to have the money (or is willing to spend it) right now. however, with a budget like yours and some of the prices out there, now could be a good time to get some high quality domains for cheap.

i'd echo what dean said about only getting a few domains to start out with. good luck!

 

[Frank83]

Thanks for the advice. It certainly makes sense to buy domains in fewer quantity. I was wondering what are the best venues to buy quality domains at bargains? So far, NameJet prelease, SnapExpiring (for short-term flipping), and RickLatona's newsletter seem to be pretty good. Any other suggestions?

 

[Ms Domainer]

Thanks for the advice. It certainly makes sense to buy domains in fewer quantity. I was wondering what are the best venues to buy quality domains at bargains? So far, NameJet prelease, SnapExpiring (for short-term flipping), and RickLatona's newsletter seem to be pretty good. Any other suggestions?

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Try Snapnames.com and Pool.com as well.

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[FreshAvails.com]

Buying 2-4 $2500 names and trying to flip them is not a path to success and not solid advice. You would have limited inventory and a limited buyer pool. It would be smarter to focus on $100-$300 names, to increase you inventory, (There are better bargains in this niche if you know how to properly value) and increase you chances of sales. You also give yourself a chance to experiment and try different approaches. Good Luck.

 

[mwzd]

Buy one great name at $5,000, flip it for $10,000 - $100,000

Rinse and repeat.

And with the $3,000 you saved initially... take the family for a nice vacation :D

 

[bmugford]

I totally agree with Mr. Spartan on this one. I think the sweet spot is $100 - $350 or so.

I have bought many domains in that range and sold them in the $X,XXX range in a short period of time.

It is easier to make sales if you have some type of inventory, even a modest one. If you just own 1-2 domains you can box yourself in.

Brad

Buying 2-4 $2500 names and trying to flip them is not a path to success and not solid advice. You would have limited inventory and a limited buyer pool. It would be smarter to focus on $100-$300 names, to increase you inventory, (There are better bargains in this niche if you know how to properly value) and increase you chances of sales. You also give yourself a chance to experiment and try different approaches. Good Luck.