I have Loads of Questions.... sorry

[MadAboutDomains]

Hey!

I suppose that You've all guessed that Im new to this forum, Ive posted so many new posts, Because I just have soo many questions to ask about domains and how to make money out of them! But Im glad I did find this site, and thankyou all for answering my questions brilliantly & Honestly.

I have a Few Questions about how you guys/gals got started in Buying and selling domains.

• What was the first domain that you sold, how much did it get sold for, and did the ammount that you sold it for get you hooked?
• How do you manage all of your payments online? Paypal etc.
• What services do you all use to catch the domain names you want?
• Can you actually make a living out of buying and selling domain names?
• How much do you actually make a year Buying and selling domain names if it one of your Hobbies?

All the n00bie questions in one post :notme:

 

[IAmAllanShore]

How do you manage all of your payments online? Paypal etc.

PayPal is an option of last resort, use an escrow service if the domain is of any notable value (or anything else, for that matter).

What services do you all use to catch the domain names you want?

I'm a fan of pool.com , but there are tons of possibilities, just search the forums to get a review of each from those who use them.

Can you actually make a living out of buying and selling domain names?

Yes, you can make a living crapping in a bag if you so desire. But there are a great many who work solely online, selling domains being PART of their trade (Some have it a larger portion than others).

How much do you actually make a year Buying and selling domain names if it one of your Hobbies?

Plenty? Sky's the limit, of course. Developing a site with ads still pays best, but selling 5 domains a month for even $100 profit each of course put's you at $6K a year. Hit a big winner, and you can retire at 160 million plus also.

-Allan

 

[ddrassociate]

The first thing I sold was a site I made for $500. I use Paypl because none of my sales have been over $500 so an Escrow service would be a waste of money. Lots of people have made a lot of money as I made a thread asking how much people have made this year. I don't catch dropped names, just register or make sites.

 

[MadAboutDomains]

With Paypal, Is there a Limit to how muc you can have? As you say your sales havent been over $500, But would it work with $100,000 sales? Is there a downfall if I was to put the money straight from the paypal account, into my bank?

 

[ddrassociate]

You wouldn't use paypal for such high amounts of money. You would use escrow. Paypal charges a small % when one person sends to another, but when you're verified such as your credit card and bank account are verified, transfering into the bank acount is free.

 

[Dwayne]

* What was the first domain that you sold, how much did it get sold for, and did the ammount that you sold it for get you hooked?
+ XeoVision.com + Design for $76, what do you mean hooked?
* How do you manage all of your payments online? Paypal etc.
+ PayPal
* What services do you all use to catch the domain names you want?
+ None for now, just got into this.
* Can you actually make a living out of buying and selling domain names?
+ Some people probably can
* How much do you actually make a year Buying and selling domain names if it one of your Hobbies?
+ Well so far I probably only spent $10 on a domain.. and own 28 of them

 

[ddrassociate]

Lol interesting picture your avatar is Dwayne.

 

[MissFlora]

Escrow is better with huge sum of money, cos' it gives the seller and buyer time for verifications. Paypal does not, it automatically transfer funds. I personally will not make a living out of domain business because..it is a hobby for me to relax and have fun, and also I'm pursuing my studies. I don't want to ruin this hobby of mine by stressing too much on it. It is a very nice business, meet lots of nice people, learn alot about the business world and reality. I have no record of my first domain sold, how much do I spend per yr on domains but all this depend on your personal budget really. As a student or someone new to this business, I will not recommend you to start off with a huge sum of $$. Look around, see how is this business like. Learn what to buy what not to, learn what is profitable, and most of all if you're a student, invest $$ only when you can afford to!! Yes, only when you can afford to spare that few dollars for a domain.

Hope this helps,
Flora.

 

[ddrassociate]

What she said :D