I have around $6000 budget what should I do

[Nautilus22]

i have access to a savings account kept for me by my parents which has £4,300 in it (about $8,600). as i am struggling to get by at the moment with money as allmy time is taking up at university i was thinking of taking about £3000 out and investing it in Domain Names/ website development, However im a bit stuck with what i should do with this amount as i want it to work for me and not lose money.

any ideas what i should do?

 

[copper]

1. Change your user name - "The Great Deceiver"?
2. Read all you can for at least 3 months before even touching one penny of it.
3. Keep reading about sold names - You'll get general idea what kind of domains sell at what price.

Your few thousands will be gone real quick if you make wrong start.

 

[domainman101]

Well your time frame is very short term, minus your selling fees, if you were to flip a domain, it would be very hard to get the return you are looking for unless you hit a market niche dead on. I would look for brandable two word dictionary domains which you feel like you can develop, as one word generic domains on that budget just are not possible. Also .com would be your best bet if your looking to invest, develop, and sell.

 

[robertjr]

as i am struggling to get by at the moment with money as allmy time is taking up at university

From your post it is clear that you have a low risk tolerance. For this reason you should NOT be investing in domains at this point. Do not be fooled by all the hype you may read, domains are not a get rich plan for the novice. Like any type of investment, you need to educate yourself and never invest more than you can afford.:imho:


You have come to the right place to start your domain education. So, welcome to NP and enjoy!

 

[buyauthority]

From your post it is clear that you have a low risk tolerance. For this reason you should NOT be investing in domains at this point. Do not be fooled by all the hype you may read, domains are not a get rich plan for the novice. Like any type of investment, you need to educate yourself and never invest more than you can afford.:imho:


You have come to the right place to start your domain education. So, welcome to NP and enjoy!

I totally agree. I've lost a lot of money as a newbie just buying up names and had to let them dropped because they were useless. Learn the ropes first, get involved in discussions and watch the auction to see how they play out.

I believe development is the way to go. It increases the value of the name 10 folds if not more. Good luck.

 

[DN BROKER]

i have access to a savings account kept for me by my parents which has £4,300 in it (about $8,600). as i am struggling to get by at the moment with money as allmy time is taking up at university i was thinking of taking about £3000 out and investing it in Domain Names/ website development, However im a bit stuck with what i should do with this amount as i want it to work for me and not lose money.

any ideas what i should do?

Purchasing aftermarket domains in 2008; is still very much profitable. $3000 is a good start. The only choice you have here is long term. Domains purchased for $50+ is profitable! LLLL.com's (example, hrro.com) or (two word, example XobilePorn.com.)

If you're goal is to flip you're coin for fast cash! That is also possible. You need to set a target , market, sales pitch!

Below is a 3 step method which I developed 6 years ago.

Target = $3000 for 1 Domain
Market = Real Estate, Sports, TV, Cinema, Insurance......
A new company, a marketing team that specializes in branding (names, products, etc) or a corporation who may benefit from using you're domain name
Sales Pitch = Buyer

Flipping a domain is very hard, why? Simple, Domain Brokers with a lot of cash own the best names and own the market we TRADE in!

As a trader, you're focus should be on researching a market were you know there is a buyer! Once you have a TARGET, you start to search for a domain name that is available in the aftermarket!

Since 2002. I have sold 2 domains to the online poker industry, 1 domain to the film industry, and continue to profit!

Remember, If you rush it! You will Fail!

 

[MaxMcool]

Look for domains that already have some links so you will cover reg fees untill you make sales., and Don't spend all your money at once, it takes a while to learn to aquire quality names.

 

[Nautilus22]

Wow i didnt think i wouldve had this much replies this early. got alot of information to take in here. I already have a small portfolio of domains nothing high value but stuff i plan to develop a bit, itll take me over a month to get the money so thatll give me something to do.

when i started doing this i bought a fair amount of really terrible domains. ive read quite a bit over the past year just have not been able to invest much due to financial issues.

ill take in everything said so far and look forward to hearing any more replies :D

thanks,
Scott
(The Great Deceiver is a King Crimson song im not a deceiver honest! :p)

 

[Dougy]

Don't start domaining.

Invest the money in a different way that has a bit better stability, or at least invest a large chunk of it.

 

[frankiethepet]

hey, check out dropped domains that you can reg for reg-fee...


buy maybe 10 for reg fee that you can develop.

Do them and Learn AND READ... when you get a hand of things you can start buying reseller domains for bigger price etc.

and PARKING is pointless unless you have a REALLY good domain.

 

[copper]

and PARKING is pointless unless you have a REALLY good domain.

Actually, it depend on your expectation
It's certainly possible to get 1000% return if you know how.
I have domain that have...
3 words.
16 letters with two "-".
New registration.

It consistently make $6/month for 8 months.
It may not be much, but, what if you have 1,000 such domains?

These are steps to find such domains.
1. Find high paying keywords.
2. Find high ovt words that match those "high paying keywords".
3. create domains based on above two. It could be...
Word1Word2Word3.com
Word1-Word2Word3.com
Word1Word2-Word3.com
Word1-Word2-Word3.com
Word1Word2Word3s.com
Word1-Word2Word3s.com
Word1Word2-Word3s.com
Word1-Word2-Word3s.com

I even have domain that has 26 letters + one "-".
That domain made $36.09 during past 7 months.

These domains do not get much traffic, but, they do have very high CTR and high RPC.

I am showing these extreme cases to prove that it can be done.

Here is real case tryout
Keyword - student loan consolidation
You need to pay Google $27.46 per click if you are a advertiser according to...
https://adwords.google.com/select/KeywordToolExternal
I am guessing I may get about $1 to $2/click if I park the domain.
There are 3,750,000 google search results pages for "student loan consolidation".
OVT 2384 according to Estibot
91 ads according to Estibot

So...
These keywords are real good candidate to create new domain names.
I created following possible domain names.

studentloanconsolidation
studentloanconsolidations
studentsloanconsolidation
studentsloanconsolidations
studentloansconsolidation
studentloansconsolidations
studentloan-consolidation
studentloan-consolidations
studentsloan-consolidation
studentsloan-consolidations
studentloans-consolidation
studentloans-consolidations
student-loan-consolidation
student-loan-consolidations
students-loan-consolidation
students-loan-consolidations
student-loans-consolidation
student-loans-consolidations

Following domains are available to register.

STUDENTSLOAN-CONSOLIDATIONS.COM
STUDENTLOANS-CONSOLIDATIONS.COM
STUDENTS-LOAN-CONSOLIDATIONS.COM

STUDENTSLOAN-CONSOLIDATIONS.ORG
STUDENTSLOAN-CONSOLIDATION.ORG
STUDENTLOANSCONSOLIDATIONS.ORG
STUDENTLOANS-CONSOLIDATIONS.ORG
STUDENTLOANS-CONSOLIDATION.NET
STUDENTSLOAN-CONSOLIDATIONS.NET
STUDENTSLOAN-CONSOLIDATION.NET
STUDENTLOANS-CONSOLIDATIONS.NET
STUDENTS-LOAN-CONSOLIDATIONS.ORG
STUDENTLOAN-CONSOLIDATIONS.NET
STUDENTSLOANCONSOLIDATIONS.NET
STUDENT-LOANS-CONSOLIDATIONS.ORG
STUDENTS-LOAN-CONSOLIDATIONS.NET
STUDENT-LOANS-CONSOLIDATIONS.NET
STUDENTLOANS-CONSOLIDATION.ORG

I would register top three.
Did you notice only 3 .com is available from 18?

There is NO guarantee these domains will make any money

 

[dna]

you should open an account at tdameritrade.com and buy
good stocks while the market is down.

 

[domainman101]

The great thing about the internet is you don't need millions to start out.... If you had come to this site a few years ago, and tried to sell the domain youtube.com someone might give you $10 for it, if your lucky. Fast forward a year, and google is giving them over a billion for a video sharing site.

 

[barefoottech]

Quickest way to make a Small fortune with domains is to Start with a large Fortune and buy crap names.

Best thing to do with your $3000-$6000 is to buy 1-5 Names only and get a feel for domaining.
then in 6months to a year review your Portfolio.

 

[mis_chiff]

My 2 cents...If your in a position to -
Use the money to take some
courses on web design, graphics and/or
some coding. It'll be money well spent!
Then look for some domains and develop....

 

[trsaso]

Don't spend all your money at once.
Search for good name and register for reg fee only.

 

[dezinerite]

My 2 cents...If your in a position to -
Use the money to take some
courses on web design, graphics and/or
some coding. It'll be money well spent!
Then look for some domains and develop....

I completely agree with you. All this is like real estate. The way I see it, domains are like lands and the developed websites are like houses on these lands. If you have a fabulous looking house on the nice land location; it will sell for a profit, period.

 

[smashfactory]

as i am struggling to get by at the moment with money as all my time is taking up at university....

that alone is reason not to invest now- not enough time, struggling, limited funds to live on- if you bought even great names, and they did not flip in time, you might end up with a drained bank account, lots of stress, and poor grades from it all.

 

[DebX420]

I know what you can do with $6k - give it to me :P

 

[dpro]

wat do u guys think if its possible to buy a LLL.com for 7K just flexing the budget a bit...it would b safe provided care is taken for tm issues before buying.....at the end of 6 months this guy will have something more in bank do you agree?