question I joined this forum 12 years ago but I wasn't ready to invest then. I'm ready now!!

[Shad0w99]

I joined this forum 12 years ago and I had $0 to my name then. I'm now 12 years older and wiser and I have got the funds to invest in this industry in a level that I wanted to.

My plan right now is to invest and buy a few $5K and $10K and a couple of $20K domains - increase their value by developing them and sell 12 to 48 months later. It's a very simple framework as I'm a simple human being Though I have gained the funds to invest, I haven't properly gained the knowledge needed to protect myself in a new industry as I was donating all of my time to earn the money to invest!!! I was hoping experience will come in as it slowly does and that I will learn as I go.

I do have a question from a beginner's perspective. What are the steps I need to take as a new buyer when it comes to transferring the domain to my name? Is it pretty straight forward - the seller initiates transfer through their registrar - I get a confirmation of some sort - done - is that pretty much it?

You have all been here collecting more experience. Anything anyone care to share or give me some pointers as to pit falls that I need to watch out for?

 

[Samer]

Nobody can say u investing peak market imo.

Good luck.!!

Samer

 

[Cebe]

don't buy domains before 12 months reads until detail at namepros.

cheers.

 

[Samer]

Try not to buy non-com

You‘ll be tempted; hell i’m tempted everyday.

Samer

 

[TheBaldOne]

If you have no experience at all in developing a domain into a website I would suggest the following steps:

• Register a throw away domain name in as cheap a suffix as you can find (you will need this to use as your website - it really doesn't matter what the domain is, it is simply one you can use and transfer between hosts as you do the following and your 'site' will remain 'your' site)
• Pick an area of interest of yours or something you know a fair amount about to make a site about
• Open up a WIX.com account (easy website development package) and start developing your site (you should upgrade for the few dollars a month it will cost when you are used to the basic functions of the system)
• Research constantly your subject and update your site accordingly
• Research other websites in the same sphere and see what they do that you like, then try emulating it but also doing it better
• The next step is the hardest most people find - start learning development website development languages, this will enable you to tweak many aspects of your website to your own desire rather than what is available in any development package

Of course you can purchase investment domain names between now and actually knowing what you are doing with development, but learn the tricks and the short comings of different development programs on a throw-away site.

As for your question about transfer of a domain, yes you basically have it right, you of course will need an account at a registrar for the domain names you purchase to be held at or transferred to. You can use several registrars for different domain names. If the domain name you have purchased is at the same registrar as that used by the seller then it will be a simple 'push' to your account from the sellers account. If you have a different registrar from the seller's then it will be a 'transfer' (this can take up to about a week). You will need a 'transfer code' from the seller to initiate the transfer from their registrar to yours, when you have the code just inform your registrar what it is and they will do the rest.

Hope the above helps.

Oh, and wish you well on your investments and future development projects.

 

[passini]

My opinion is that you should start to observe the market and study all the info here.

Wait some more time to be able to grab a few really really good bargains.

We are diving into the biggest recession of our lifes. Soon many will definitly need to sell to get liquidity.

Just my 2 cents.

 

[JimmySun]

I think it's not too late involving this industry and actually I think it's good time to buy buy buy.

 

[Samer]

I think it's not too late involving this industry and actually I think it's good time to buy buy buy.

This... there will always be naysayers.

We're almost past pre-Covid levels. Record US Nasdaq. Who knows future? Agree u 100%.

 

[passini]

I think it's not too late involving this industry and actually I think it's good time to buy buy buy.

..

In a few months will be more easy to buy cheaper,...

 

[Samer]

..

In a few months will be more easy to buy cheaper,...

Keep waiting market correction...

I'll enjoy bottom-fishing today...

Thankfully, few months isnt long

 

[JimmySun]

This... there will always be naysayers.

We're almost past pre-Covid levels. Record US Nasdaq. Who knows future? Agree u 100%.

lol, It seems to me that the effects of Covid will last for at least 3 years... it is just beginning.

 

[passini]

Keep waiting market correction...

I'll enjoy bottom-fishing today...

Thankfully, few months isnt long

Now is a good time to buy.

OP says he has not so so much knowledge, and that is true as he is asking about how to transfer a name.

He must spend some more time learning things as he is ready to invest a very good sum for someone just starting out. Waiting in this moment can only bring prices lower, imho.

 

[JimmySun]

..

In a few months will be more easy to buy cheaper,...

You are about right, but who knows when is the bottom...I prefer prepare earlier.

 

[wizard]

Try not to buy non-com

You‘ll be tempted; hell i’m tempted everyday.

Samer

I don’t agree many cctlds etc are great investments it doesn’t just need to be .com even tho i love .com

 

[web3dev]

I do have a question from a beginner's perspective. What are the steps I need to take as a new buyer when it comes to transferring the domain to my name? Is it pretty straight forward - the seller initiates transfer through their registrar - I get a confirmation of some sort - done - is that pretty much it?

Domain can be transferred to another account of the same registry OR transferred to another registry of your choice (usually have a sixty days lock in period when the registrant email is changed or newly registered).
For the former usually the registrar sends you follow up emails. For the latter, one needs to obtain the transfer code (called EPP code) which will authorise the transfer to the new registrar. Again there will be follow up from both the old and the new registry.

You have all been here collecting more experience. Anything anyone care to share or give me some pointers as to pit falls that I need to watch out for?

• Always purchase a domain using reputed third party escrow service like escrow.com, sedo.com, dan.com, afternic.com and so on. The process is pretty simple, buyer pays the money to the escrow, seller transfers the domain to the escrow, escrow transfers the domain to buyer and the money to seller, having their commission)
• Everyone has their own opinion, often contradicting each other, you need to judge based on your interest and merits.

Happy Domaining!

 

[passini]

My reply was to OP, he clearly says he has not so much knowledge, as he Is ready to invest in the xxx,xxx range is obviously better to get more info.

I don't know where you live, I am Italian but living in London now, and I can say that many business will not survive all this.

It will be much much worse than 2008. Even Harrods started to cut personal (a lot), and you go there only if you have a lot to spend. Can you imagine the effects on small medium businesses? Many will not be able to open again (hotels, restaurants, shops). For online business is different but they will need people with money to spend anyway...

 

[TheBaldOne]

My reply was to OP, he clearly says he has not so much knowledge, as he Is ready to invest in the xxx,xxx range is obviously better to get more info.

I don't know where you live, I am Italian but living in London now, and I can say that many business will not survive all this.

It will be much much worse than 2008. Even Harrods started to cut personal (a lot), and you go there only if you have a lot to spend. Can you imagine the effects on small medium businesses? Many will not be able to open again (hotels, restaurants, shops). For online business is different but they will need people with money to spend anyway...

.............. But new businesses will launch and require domain names, existing businesses will need to keep their customer base and hopefully increase it, this will mean a surge in domain name market. Do not expect the 'downturn' in domain names to be that great or for that long, the internet is now the prime avenue for marketing and advertising - ask any commercial TV station or newspaper.

 

[passini]

.............. But knew businesses will launch and require domain names, existing businesses will need to keep their customer base and hopefully increase it, this will mean a surge in domain name market. Do not expect the 'downturn' in domain names to be that great or for that long, the internet is now the prime avenue for marketing and advertising - ask any commercial TV station or newspaper.

I hope, really! I have been selling online since 1996 (art and antiques) and the 2008 crise was not easy, I already had a large domain portfolio at the time (domaining is my personal investment/second work) but he didn't save me from starting to live for 2/3 years in a different way, spending less, investing less... This is just my personal experience, money can be done in every situation...

 

[JimmySun]

My reply was to OP, he clearly says he has not so much knowledge, as he Is ready to invest in the xxx,xxx range is obviously better to get more info.

I don't know where you live, I am Italian but living in London now, and I can say that many business will not survive all this.

It will be much much worse than 2008. Even Harrods started to cut personal (a lot), and you go there only if you have a lot to spend. Can you imagine the effects on small medium businesses? Many will not be able to open again (hotels, restaurants, shops). For online business is different but they will need people with money to spend anyway...

I think we all know how horrible the situations in this circumstance but I still want to give it a shot and I don't want to regret i’m not doing so after few years.
At 2008 my uncle applied loans and spent entirely year bought around 15 houses in Fontana, LA in average 200k each (about 50% of value before economic crisis) and he told me usually 6-7 years will come back and I can see how happy he was during past few years. I believe domain industry still has long way to grow it's just on the contrary to 2008 real estate crashes.

 

[passini]

I think we all know how horrible the situations in this circumstance but I still want to give it a shot and I don't want to regret i’m not doing so after few years.
At 2008 my uncle applied loans and spent entirely year bought around 15 houses in Fontana, LA in average 200k each (about 50% of value before economic crisis) and he told me usually 6-7 years will come back and I can see how happy he was during past few years. I believe domain industry still has long way to grow it's just on the contrary to 2008 real estate crashes.

This is right, now (and for now I don't mean today but also the next months/one year) is a perfect time to invest if someone has the capital the patience and the position to wait some years to get a good return.

I will not be able to invest big sums because I will need liquidity to survive (speaking mostly about my art business) but I will invest my time to find opportunities.

If you don't have so much money to invest try to use more of your time, this is one of the few things I learned in my 24 years of business.