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?

 

[Kate]

It should be possible to buy a LLL.com for 6K and flip it, or hold.

 

[kemjika11]

dude, i would honestly spend only 1/4 of that first of all buying up good/great LLL.us and LLL.in. These are increasing in value fast, and they are underrated and cheap on the market, and you'll still have a good chunk of $$$ left over. I also agree with buying some good stocks right now.

 

[Ross]

If you really want to put your money in to domaining, i recommend heading over to NameNewbie.com and reading everything on that site. Then after that read it all about 3 or 4 more times. After that come back to NP and read every sticky you can find. After that check out the domain newbies sections and read all that you can there. After that watch threads for a while and reply with questions if you have any. After that keep watching interesting and informational thread and sales threads to see whats being sold on a domainer to domainer level. Also dont forget to see whats going on over at DNJournal.com. NameBio.com. Also dont let estbot.com confuse you. If used in the right way it can be a powerful tool.

After you have done all of that try to make up a list of what types of names you would like to invest in. Once you have done that you should be ready to find your first name. Also as stated in this thread $3000 can go really quick in this industry.

If you have any questions feel free to pm me, i will try to answer all your questions.

Its tough making money here, you HAVE to know what you are doing.

 

[OI2]

The first thing I would do is changing my nickname and not telling anyone about your budget. Now that people know your budget your name is a target for scammers and if you get offers people will have your budget in mind. Getting rid of your nickname makes sure you can start fresh without scammers knowing about your budget and how new you are to all this

 

[Magni]

i'd say invest in my company!

 

[Tim Schoon]

why would you change your nickname - nothing wrong with it!

people will take you serious if you have $6k cash whatever your name is (I could know )

If I were you I'd try to find a LLL.com or a generic english one word.com
sell it for around $1k more, buy a new one etc etc
should be possible at your budget!

 

[Michael]

Save up a couple more grand and buy an LLL.com, they appreciate very quickly and are stable/predictable.

 

[Fka200]

I just wrote a "basic" (imo) starting fresh with domaining post on my blog: fka200.com.

 

[labrocca]

$500 for hand registrations
$1500 toward site purchases that make residual income
$100 toward a cheap hosting account (dreamhost, hostgator, servage)
$1500 toward parked domains that make income
$1000 toward LLL.us, LLLL.com, CCC.com, and LLL.biz
$1000 toward the best LLL.net you can buy
$200 toward LLLLL.com brandables

Save what's left for more hosting or domain renewals.

The key..DIVERSIFY.

 

[-Alex-]

Ya, the best advice is for you to get a feel for domaining. Read up on this site and other sites such as my own (check out my sig).

Once you know what you are doing, start flipping domains like LLL's, etc...

 

[thsung]

buy VCVCV.com domains ............ and PRAY!!!! ...... by the time next year they will be all sold out and then you can dump your domains for 5x the profit.

 

[Michael]

Praying is never a good investment strategy, lol.

 

[VURG]

A high % of domainers do well by changing their username to their domain name. I'm sure I get free quality domain related traffic to Vurg.com this way. (I waste it with a shocking blog site and don't care but I'm wierd.) I would get a better username than the great deceiver like the best nonsense 5 letter word in .com that can be found by spending half an hour at instantdomainsearch.

Number 1: Don't advertise that you have money to spend. A large percentage of people who will talk to you will take advantage of you.

One Idea: Do the experimental domaining process.

Start small:

$20

You can only get 3 domains here or one nice $20 domain. Work out how to get a profit. Reinvest your profits.

When in profit add $40 to your investment pool.
When in profit add $80 to your investment pool.
When in profit add $160 to your investment pool.
etc...

If you keep working out how to get in profit then you should discover if you have a talent for finding gems or finding the right buyers or both. If you get stuck at a point trying to get in profit, it may be time to move on.

 

[dezinerite]

why would you change your nickname - nothing wrong with it!

people will take you serious if you have $6k cash whatever your name is (I could know )

With THAT username and a TR of 0, a lot of people will think twice about who they're dealing with. In fact, he's pretty much warning us already. :D