NameSilo

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

Labeled as question in Domain Beginners, started by Shad0w99, Jul 5, 2020

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  1. Shad0w99

    Shad0w99 Pretending To Be A Human ★★★★★★★★★★

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    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?
     
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  2. Samer

    Samer Top Contributor VIP

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    Nobody can say u investing peak market imo.

    Good luck.!! :)

    Samer
     
    Last edited: Jul 5, 2020
  3. Cebe

    Cebe Established Member

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

    cheers.
     
    Last edited: Jul 5, 2020
  4. Samer

    Samer Top Contributor VIP

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    Try not to buy non-com

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

    Samer
     
    Last edited: Jul 5, 2020
  5. TheBaldOne

    TheBaldOne Top Contributor VIP Gold Account ★★★★★★★★★★

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    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. :xf.smile:(y)
     
  6. passini

    passini Established Member ★★★★★★★★★★

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    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.
     
    Last edited: Jul 5, 2020
  7. Jimmysun

    Jimmysun Established Member

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

    Samer Top Contributor VIP

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    This... there will always be naysayers.

    We're almost past pre-Covid levels. Record US Nasdaq. Who knows future? Agree u 100%.
     
    Last edited: Jul 5, 2020
  9. passini

    passini Established Member ★★★★★★★★★★

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    ..

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

    Samer Top Contributor VIP

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    Keep waiting market correction...

    I'll enjoy bottom-fishing today...

    Thankfully, few months isnt long :)
     
    Last edited: Jul 5, 2020
  11. Jimmysun

    Jimmysun Established Member

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

    passini Established Member ★★★★★★★★★★

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    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.
     
  13. Jimmysun

    Jimmysun Established Member

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

    wizard Domain Wizard PRO VIP ★★★★★★★★★★

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

    ikhub Top Contributor VIP

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    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.

    • 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!
     
  16. passini

    passini Established Member ★★★★★★★★★★

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    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...
     
    Last edited: Jul 5, 2020
  17. TheBaldOne

    TheBaldOne Top Contributor VIP Gold Account ★★★★★★★★★★

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    .............. 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.
     
    Last edited: Jul 5, 2020
  18. passini

    passini Established Member ★★★★★★★★★★

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    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...
     
    Last edited: Jul 5, 2020
  19. Jimmysun

    Jimmysun Established Member

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    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.
     
  20. passini

    passini Established Member ★★★★★★★★★★

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    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.
     
    Last edited: Jul 5, 2020
  21. TheBaldOne

    TheBaldOne Top Contributor VIP Gold Account ★★★★★★★★★★

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    That is indeed very sage advice. (y)
     
  22. Jimmysun

    Jimmysun Established Member

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    Surely, it all depends on how much cash flow you have, I envy you because I was born with good art and drawing skill, too shame that I didn't follow my gift because of some miserable reasons, instead, go another life path and that made me so regret until to date, I would be so much happier if I can involve some art business.(n)
     
  23. Bob Hawkes

    Bob Hawkes Top Member NameTalent VIP Gold Account Trusted Blogger

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    Thanks for your post, and best wishes

    Transferring is the easy part. In fact if you end up buying a domain name on a registrar marketplace the transfer will just happen automatically. But in any case it is easy and fast to transfer a domain name. If you are happy with the registrar where the domain name currently is, then the person selling the domain to you can do a push from their account to yours at that registrar. You will first need to set up a free registrar account there. If you prefer to have it somewhere else, then the transfer is done using an auth code.The person selling unlocks the domain name and sends you the auth code, you start the transfer from your account at the registrar where you want to have it stay, that registrar will charge you one year registration which will be added to the expiry time. It will proceed automatically after 5 days, or the person selling it can improve it and the transfer can be done in minutes. I wrote an article on the topic of push and transfer that may be of interest.

    Now to the rest of your question. Re development, I am not expert at all, but if you have not done it before I wonder if it might be wise to start development on a single not too expensive domain name, and have explored the technical side of doing it, along with learning more re SEO, before going in full-tilt. I would suggest a topic that you have expertise in, so the content comes naturally and you will feel motivated to have a good site. Evaluate how your first development went before trying multiple names. When signing up for your hosting program be sure to get one that supports your eventual plans, i.e. allows multiple sites, etc.

    Ultimately, the strategy of owning just a few names of high quality makes total sense. However, if all your funds are in just a few names, it is critical to make the right choices. The problem of jumping right to $5k (or something like that) name early on is the risk of making a wrong decision early on. The Domain King on his Twitter feed a few weeks ago proposed a beginning strategy of buying a domain name for say $50 and selling it for at least $100 net. After you are successful at that, buy a $100 name with aim to sell for at least $200 net. Then $200 for $400, $400 for $800, etc. soon one is up to six figure names!

    Now I am not sure that I totally agree on one domain name, but the idea of showing success buying and selling a few lower value before shooting for a big ROI strikes me as having a lot of sense. I know some who are making money by scrounging deals on names, then flipping them quickly to other investors. I don't recommend that as an ultimate goal, we should all want to sell to end users at big margins, but as a starting strategy you will learn what sells, and does not, to other investors, while not risking a lot of money and time in a single name.

    Whatever you do, the very best wishes for success, and we look forward to you sharing your experience with us on NamePros.

    Bob
     
    Last edited: Jul 5, 2020
  24. WatchDogue

    WatchDogue Top Contributor VIP

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    Just a few thoughts regarding your pursuit of investments in domain names.

    Do study as much as possible the markets you are considering investing in - markets can and will fluctuate and you want to be as certain as possible that you are investing in a stable marketplace with reasonable expectations of market uptick.

    Read through the NamePros reported sales section and see what has been and seems to be selling.

    Read through NameBio.com and try and determine how to evaluate " comps " between sold names and names you are considering investing in.

    Read through DNJournal.com, interesting articles and profiles and, great lists of reported domain names sale.
     
  25. frank-germany

    frank-germany domainer since 2001 / musician VIP

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    you will make mistakes
    accept it as a reality

    first mistake was to wait 12 years

    second mistake
    .. we will see

    money management might be the key

    good luckb
     

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