Labeled as poll in General Domain Discussion, started by MarketingStrategies.com, Mar 15, 2018
By your own admission, you'll never make a profit.
I’ll postpone profit (and tax) by reinvesting. And then I’ll reconsider as I did lat year, because what’s the use of money if you can’t enjoy it? And then the taxman takes most of it. But the overall strategy is profit and tax later.
the 3 stages of life of a domainer:
1 - wasting money
2 - getting back to zero
3 - profit
I skipped stage 1. Better not get back and bite me in the ass.
Really good one
Denial is coping mechanism
I need to sell more domains..
Let me Guess, MR.Patil make more than $500k from domaining
I get the feeling that what this thread needs right now is a musical interlu.de
dreaming (lots of dreamers in this business)
it is a hobby for most, so people don't mind losing a bit of money for the personal gratification and for learning a few things. The knowledge you get from domaining can help in your business or web development efforts.
many domainers are in fact domain collectors. In real life some people spend a lot of money on collections, it could be stamps, postcards, cars or firearms. It usually doesn't shock anyone.
many domainers think they are on the right track and should persist because they are making sales from time to time, and that could be true but that doesn't mean they are profitable. Making 5K in sales per year while you spend 10K on acquisitions and renewals is not a good proposition.
I don't think that the majority of domainers keep accurate accounts of revenue vs expenses, it's not that it is hard to do (a simple Excel sheet would do) but I don't think they want to see the figures. They know they are not profitable, but they don't know how deep. Ignorance is bliss
I just enter in domain industry 3 month ago and my total investment was $200 and now i have more than $500 profit because one of my hand reg domain sold to end user $200..
When the numbers rise, you will have to decide if you can muster jail or pay up.
What about income from monetizing names? Does this count as domain profit?
Just only if I had known what I know now, my credit cards would not have suffered loss...
I haven't done anything with domains yet, so I didn't add any good data to this poll. I only put it in so that I could see the results. It's inspiring to see that far more people have gained than lost. Congratulations to all of you. It must be nice having your hard work pay off.
What is the approx. total profit/loss you have since you started domaining?
why do you need to know?
it won't help "you" sell more domains.
many are so inquisitive about other domainers financial status, when they should focus on their own affairs.
There is no need, it's just a harmless poll which gives us a snapshot of how the community is fairing.
I am ahead of the game. $501 to $5,000 (profit) BIG mistakes at the beginning. To much work to go back 10 years to be exact
Looking at this tax discussion is very interesting. Some people are going to be in for a real surprise one day. Your right MarketingStrategies, Crypto is going to be a bigger mess taxation wise, good news is mining fees will be a tax deduction when you get audited.
Impossible to answer. I don't buy to flip so I still own the vast majority of the names I bought. I happen to think the names I own are more valuable now than when I bought them. I bought fwb.net for $800. I've been offered $2500 more than once. But I turned them down. I bought 0dn.com for $375 built a site and was generating 400 to 1000 leads a day. I was offered $7 per lead. I bought blog-directory.org for around $4800. We built a site. It has over 25,000 bloggers and 50,000 blogs. I get $10 per blog. I bought kingsalmon.net for $50. What's it worth. I bought iwebsites.com for $3600 the same year website.com sold for $750,000 and websites.com sold for $975,000. I paid $3,750 for cdl.net. I hand registered superapp.co and was offered $5,000 2 months later. I bought personals.org for $3200. I pay for servers and I've paid thousands in labor. My point is I do have a sizable amount of money invested in this game. Well over $50,000 but I think the assets are worth more.
Glad to see that 9%+ of forum members made more than $500K in profit and the majority were profitable also overall!
tax are important factor on overall profits. it's better to move to Panama or Gibraltar.
Exactly, I was about to search "burgerflipping.com"....
46 members at the $500,000 plus range.
Separate names with a comma.