New and scared !

[simplyjo]

Like all new ventures..I am scared to tap into this market with no knowledge of domains. After going thru for sale/ auction/ WTB threads, I have a fair idea of demand/ supply of many domains but still.. I am scared to invest big and lose money. Any tips for a newbie that would help / ensure , I dont lose money ?

 

[copper]

Read.
Read.
Read.

Don't registering bunch of domains.
Wait until 6 months later giving yourself enough time to digest it all.

Buy few quality domain names instead of buy many low quality domains.

Happy reading time

 

[TFD]

Like all new ventures..I am scared to tap into this market with no knowledge of domains. After going thru for sale/ auction/ WTB threads, I have a fair idea of demand/ supply of many domains but still.. I am scared to invest big and lose money. Any tips for a newbie that would help / ensure , I dont lose money ?

The key is not investing big at first. If you don't spend a lot, you can't lose a lot.

 

[nielsencl]

Good advice. Also look at what people are selling here and what the prices are. Then watch and see what sells and what does not sell. This will help you to get a feel for things.

 

[simplyjo]

Thanks all.. yes just trying to read and digest it all. * burp *

 

[Ms Domainer]

*

Even after three years in this biz, I am still learning. The advice to wait until you know more is excellent.

I wish I would have found this forum sooner.



*

 

[Jannystok]

Good domain does not have such a great effect on the site, so consider whether you are ready to pay a pile of cash just for a name.
I know some people would pay tons of money (porn.com was bought for 1 ml. $, for instance), but I won't.

 

[BostonDomainer]

Good domain does not have such a great effect on the site, so consider whether you are ready to pay a pile of cash just for a name.
I know some people would pay tons of money (porn.com was bought for 1 ml. $, for instance), but I won't.

boy are you wrong.

 

[simplyjo]

@ Jannystock - You DO realize you are on a forum for buying/ selling domains - something u dont believe in ?

 

[nielsencl]

Now, now... no point in letting a newbie or a troll get to you. Everyone can have their own opinion, right?

 

[ellinas]

Hello, Guys,
I am new to domaining and really appreciating for the word of caution to avoid big expenses at the beginning!
I guess it is just a common sense!
When you know what you are doing it is very attractive to play big!

 

[Skinny]

Yea don't put all your money in one basket.

You gotta invest small. Do a lot of reading like has been mentioned. Then you will learn how domains are valued. What is a domain that is valuable and you can resell and buy for $10 eg. and what is a bad name that will be hard to sell that you can buy for $10 etc.

There are good stickies in the Domain Newbies section that should get you started.

Skinny

 

[valuable]

My advice would be prepared to be VERY patient. Domains have a lot of value for sure, but they are not a very liquid asset, meaning you can't expect to just flip a switch and sell them for what they are worth a month later. Selling a domain for what it's worth can easily take years to find the right buyer.