Newbie leading the Newbies, Lesson Learned!

[Broker]

I bit off a little more then I could handle when I first started "domaining" last year (almost 2 years now) and I'm heading back to the drawing board. A year and half later and I'm still a newb because I thought I knew what I was doing. I sold a few names and I'm ahead by a few thousand dollars and all names I currently have are basically free I guess you could say. Alot of which I'm going to delete and trim down keeping only a few. What I'd like to do is get one domain which generates some kind of decent revenue while being parked. This is one of my immediate goals but theres this green stuff called money. It amazes me that some people have domains making high hundreds or low thousands per month just parked. Are you serious? I could quit my job if I had one of those. But I dont. And this is only because I dont have the $,$$$ or $$,$$$ to invest in one I assure you.


And it's not like I dont know what a great domain is. I see them being offered for sale, sold and bought everyday. But these types of domains are out of my financial league sadly. Atleast at the moment they are. So for guys/gals like myself who don't have these types of names or the kind of money to buy them in order to better your portfolio and bank account, don't get discouraged like I tend to do. Easier said then done of course reading the domain sales

You must realize alot (certainly not all) of the big players you see who are successful in domaining were already successful in their regular jobs. Be them doctors, lawyers, etc. Their income enables them to invest in higher quality names and reap better rewards. I hate to say this but "Our" the slightly less fortunate ones but all in all happy , have a little more work to do. But it's certainly far from impossible. And there's plenty of these types of success stories on dnjournal.com

With all that being said, I would suggest you stay here and read read read. You might even want to visit a little thread titled "Ready to Quit" because there's alot of experience and knowledge in there. It woke me up thats for sure and has inspired me to start all over again. Even after close to two years of domaining. This really is an exciting business and I believe anyone can become one of those big players and very successful if you play your domains right!


That's all I have to say,

Thanks everyone

 

[irishmat]

What I'd like to do is get one domain which generates some kind of decent revenue while being parked. This is one of my immediate goals

i think thats a great goal, get some solid monthly revneue, even just low $xx would do and then the renewals pay for themselves

i have always targetted having more monthly revenue from parking than renewals (total/12) would be

keep your eyes open on the forum and you can pick up some traffic/revenue gems, i picked one up that makes $50 a month and i paid $xx for it

good luck

 

[metronome]

ya, same here, I always wonder how those peoples can make XXXX$/month by parking only 1 domain!:D I can only make like X(more than 1 less than 9) $/month per domain, even worse, it is not for all domains, some domains make less than 0.5 monthly haha >.<

 

[Spade]

I think a wise decision. Also, dont forget - interest rates arent that bad if you have decent credit. A loan taken out for the right amount, and spent in the right way can give you the jump money you need to make a real go of this.

(Its what I did!)

Justin

 

[geb9696]

Spade,
That can end very badly if the person does not understand the market that they are investing in. I am not saying that method does not work but if you cant repay the loan you could be in a world of trouble. It is important to make sure that you can make loan payments even if your domains do not make money.

 

[irishmat]

ya, same here, I always wonder how those peoples can make XXXX$/month by parking only 1 domain!:D I can only make like X(more than 1 less than 9) $/month per domain, even worse, it is not for all domains, some domains make less than 0.5 monthly haha >.<

lots of domains making $9 a month wouldnt be too bad! :hehe:

I think a wise decision. Also, dont forget - interest rates arent that bad if you have decent credit. A loan taken out for the right amount, and spent in the right way can give you the jump money you need to make a real go of this.

(Its what I did!)

Justin

its a good idea but you would need to know exactly what you are doing to take a gearing strategy like this

 

[Spade]

if you cant repay the loan you could be in a world of trouble. It is important to make sure that you can make loan payments even if your domains do not make money.

Perhaps I should have clarified. Clearly you must understand the market your investing in and weigh the risk vs reward of taking out a loan. I would hope anyone considering taking out a loan would understand the importance of researching risk. This method would not work for most, but someone who is as capable as HasRob, I would imagine would be able to put loan money to good use.

Justin

 

[metronome]

I think a wise decision. Also, dont forget - interest rates arent that bad if you have decent credit. A loan taken out for the right amount, and spent in the right way can give you the jump money you need to make a real go of this.

(Its what I did!)

Justin

ah I can take out 10,000 USD loan anytime, but haven't tried. actually if I do take the 10,000 USd out I am not sure what I should do to get a domain that can get me at least 200+ USD / month from parking>.<. putting a thread looking for a domain name at namepros' domainname wanted section, that can make me at least 200 USD/month with 10,000 USD budget? :D note: I am no good at all in webdeveloping

 

[irishmat]

ah I can take out 10,000 USD loan anytime, but haven't tried. actually if I do take the 10,000 USd out I am not sure what I should do to get a domain that can get me at least 200+ USD / month from parking>.<. putting a thread looking for a domain name at namepros' domainname wanted section, that can make me at least 200 USD/month with 10,000 USD budget? :D note: I am no good at all in webdeveloping

I wouldnt go for just one domain, several $xx revenue per month domains diversifies your risk

 

[DnEbook]

i dont borrow money for domain buying , i live in my budget . I think this is a great way to invest !!!!!! in australia you need to invest a minimum of $500 TO ENTER THE STOCKMARTKET and THE BROKER FEES ....... this is a very good deal ,

 

[htmlindex]

You must realize alot (certainly not all) of the big players you see who are successful in domaining were already successful in their regular jobs. Be them doctors, lawyers, etc. Their income enables them to invest in higher quality names and reap better rewards.

Being successful in your job has nothing to do with being a doctor or lawyer, there are good doctors/lawyers & crap doctors/lawyers. The only thing is that they would earn more than the average wage so they are better financially.

Anyway, it's great to see that you haven't decided to quit on domaining as I'm sure that you will do great in it, just in there & you'll be fine

 

[ilcesco]

I was wondering how it would work for me..

ilCesco goes to the Bank
Me> Hi there, I'd need a loan.
Bank> What for?
Me> Well, domaining. I buy internet domain names and resell at 10 times what I pay for them.
Bank> And How much do you need?
Me> 20 thousand cash would be fine, what are the rates?

*People laughing all over the office*

P.S: Anyway, I don't think borrowing money for domaining is a good idea, unless you really, really, really know what you're doing.

 

[Broker]

I wouldnt borrow money for a domain unless the monthly revenue was above the monthly payment leaving me not only money to pay the loan back but a slight profit also.

 

[italiandragon]

I was wondering how it would work for me..

ilCesco goes to the Bank
Me> Hi there, I'd need a loan.
Bank> What for?
Me> Well, domaining. I buy internet domain names and resell at 10 times what I pay for them.
Bank> And How much do you need?
Me> 20 thousand cash would be fine, what are the rates?

*People laughing all over the office*

P.S: Anyway, I don't think borrowing money for domaining is a good idea, unless you really, really, really know what you're doing.

:hehe: you forgot one thing:

after the:

Me> Well, domaining. I buy internet domain names and resell at 10 times

---> People in the Bank looking at you like if you`re on drugs :hehe:


Seriously: I agree with you, I would not borrow money to invest unless the amount was little compared to my income and I was really pretty sure to have money back pretty soon.

 

[-REECE-]

I was wondering how it would work for me..

ilCesco goes to the Bank
Me> Hi there, I'd need a loan.
Bank> What for?
Me> Well, domaining. I buy internet domain names and resell at 10 times what I pay for them.
Bank> And How much do you need?
Me> 20 thousand cash would be fine, what are the rates?

*People laughing all over the office*

P.S: Anyway, I don't think borrowing money for domaining is a good idea, unless you really, really, really know what you're doing.

I got a 10k loan awhile back (bought my LLLL.coms with it) saying that it was for an Internet business start-up. I actually got the loan merely by emailing my bank. I gave rough estimates of the value of my internet holdings, outlined the direction I'd be going and showed real world evidence of demand for comparable names (I also have my investments with them which are worth alot more than 10k.. So maybe it wasn't the excellent salesman in me) :D

 

[metronome]

@reece

I am kinda same like you, I dont have to tell the bank in super details what the 10k for. my bank is actually pestering me to quickly get the 10k loan from them, wtf, even send me a lot of invitation to bank to get 10k loan instant, darn fishy:D

the problem I havent tried taking the loan out is because there is no sure way yet to get a revenue~~ guess more research is needed.