Labeled as discuss in Domain Buying and Selling Discussion started by UnboxPossibility, Jan 28, 2019.
Is domain flipping still a profitable business nowadays for newbies?
It never was for newbies!
Yes and no!
Don't take this the wrong way .. but you've really asked a very open ended question that will give you a huge range of answers both correct and incorrect .. essentially the question is meaningless without context about the specific "newbie".
Domaining is not profitable for most domainers .. while most definitely being profitable for others. But at the end of the day, it's more knowledge and wisdom about buying/selling domains as well about the specific business niches of the domains a particular domainer focuses on; language skills, sales skills, communications skills, dumb luck, and many other factors that matters far more than whether someone is new or not.
Add to that some people are quick learners, and others simply will never get the concepts of what makes a domain with a good chance of selling at a multiple that makes their entire portfolio profitable in the long term.
If someone has great language skills, a background in sales and marketing, and is extremely familiar with technology and the internet .. combined with an intense period of self-education on the domain industry (essentially a lot of reading here at NamePros, listening to podscasts, or even enrolling in @Michael Cyger's DNAcademy) .. then they've got a much better shot than the majority of members here at NamePros with multiple years in the business.
Most certainly experience helps .. but it's just one factor .. and most certainly how much each individual domainer grows and improves over time is completely different from person to person. The term newbie in domaining really has little bearing on the overall domaining skills/awareness of new domainers. So much so that your question really becomes too open ended to ever have an answer with any accuracy in any way.
Either way .. best of luck to all newbie domainers .. and however good you might be when you start .. the one thing for sure is that you most certainly can get better if you take the time to learn and inform yourself on the various aspects of domaining (and the specifics of the business niches of the domains you want to invest in) before you spend too much!
After 20 years. My experience was it was profitable while I focused all my free time on it. Took my eye off the ball for a couple of years then barely started to break even. (even a couple of years of losses with renewals outstripping sales)
Agree with Ategy, The whole skill set is far more than most hold, I was fortunate in being both in technology and Marketing. After these 20 years I am looking forward to bringing my domaing to a close and enjoying my retirement
Down from 2000 domains at my peak ( till 2007) to just 100 today.
Would I start today NO, not unless we were back in 1999 then it would be a definite YES. The people that make money from this game are those that have been in it for years. If you've got say 10 to 20,000 dollars to invest and you have all the skill-set then going and chasing those that hold good domains (not the big boys) and have great negotiating skills plus a lot of patience you could very easily build a portfolio of say 20 to 40 good names with a market value of about 3 times that or more, But it will take a lot of time. Or indeed concentrate on the drop auctions - which has never been my game
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