opinion Should I try again

[Akhilesh.Kumar]

Hello Namepros family

I tried my luck with Domaining approx. 3 years ago
Started with hand reg names which was a good investment considering the lessons I learnt.
Then scrubbed some from GoDaddy closeouts, Sedo low value auctions/buy now, Flippa low value names etc.
I was banned by NamePros for one year for a malpractice. I felt bad but looking back now it was another lesson learnt.

I was no where near the professionals but I was getting the addiction and started enjoying the game.
All in all I owned approx. 40-45 names and kept flipping them for small profits.

My biggest sale was flipping a hand reg $1 name for $50 on Sedo.

When I left playing, it was not planned but for no reason I started dedicating lesser time and slowly went out of it.
The names kept expiring and today I don't own any.

Since last few days, I am getting pulled back.

I understand there is no scope for Hand reg names, also I understand I can't invest tons to buy good names and keep them for years expecting a good resale value.

If you have read it this far, please suggest if I should jump back.
All I can invest is approx $500-600 (in chunks) to build a profile.
I know you may want to laugh at that, but it is what it is.

I really want to try domaining but is it possible with this low investment.
If yes, should I invest it in 2-3 names and keep them alive for few years expecting returns or should I make a profile of 30-40 or more names looking for decent 2-3 words names where I make $20-30 on few of them and few others gets dropped or expired.

Confused. Please help.

 

[VadimK]

I would ask myself a different question - how much time and effort am I willing to put in? To me, that's more important than how much money you have. Whether you buy 5, 50 or 500 names - you need to understand well what you are doing. Otherwise you'll spend all your money fast and leave brokenhearted )

Just think if you are willing to put hours and hours, day per day - into learning, researching, matching, watching, checking, comparing etc (and even if it is just a side thing for you!). If the answer is yes - go ahead and try. But if you say - ''hey, I got much more interesting-better-easier ways of making money with more joy at the same time, - don't.

To me - two most important things in domaining - determination and passion (passion also can be developed over time, imo))

Whatever you decide - good luck!

 

[Akhilesh.Kumar]

I would ask myself a different question - how much time and effort am I willing to put in? To me, that's more important than how much money you have. Whether you buy 5, 50 or 500 names - you need to understand well what you are doing. Otherwise you'll spend all your money fast and leave brokenhearted )

Just think if you are willing to put hours and hours, day per day - into learning, researching, matching, watching, checking, comparing etc (and even if it is just a side thing for you!). If the answer is yes - go ahead and try. But if you say - ''hey, I got much more interesting-better-easier ways of making money with more joy at the same time, - don't.

To me - two most important things in domaining - determination and passion (passion also can be developed over time, imo))

Whatever you decide - good luck!

Thanks buddy
That sure make sense.

God bless you

 

[cooljub]

I tried my luck with Domaining approx. 3 years ago
I was no where near the professionals but I was getting the addiction and started enjoying the game
I started dedicating lesser time and slowly went out of it
Since last few days, I am getting pulled back
Confused. Please help.

This is what it does to you.

 

[Akhilesh.Kumar]

This is what it does to you.

Returning to the post after approx 2 years
It's still something I want to do
But it's still something I didn't yet..................

 

[VaibhavA]

I dont know why you didnt get more responses 2 years back, even I missed this post. Anyways, its never too late.

I can share some of my experience; I started about 10 years back with bt 500$ in my bank.

I survived somehow from previous work for initial 6 months and since then I am living off domaining.

What kind of motivation do you need? You need to know how much I made or you need to know how much can be made?

If you have heard of @AbdulBasit.com, if my memory serves me right, even he started with something like 500$ and I must tell you, he's a big name in domaining today.

I haven't made that big but enough to say that its been about 5 years since I had to worry about my monthly expenses. Got a new honda car bt 2 years back - Cashdown. Have over 2K domains and have a decent portfolio in equity. All from domaining.

I wont reveal any more numbers but hope you get the point, and I can assure you, there are many more domainers who can say the same or ve done even better.

I understand there is no scope for Hand reg names, also I understand I can't invest tons to buy good names and keep them for years expecting a good resale value.

How did you come to this understanding?

Money can be made from hand regs as well. Just check the following thread - https://www.namepros.com/threads/report-completed-domain-name-sales-here.83628/page-1328#posts.

There are many strategies that people use in domaining.

There are many boats (Trends) that keep coming in domaining. Bt 5 years back - It was crypto domains. Since last 1.5 years, its AI domains.

All strategies work, just that some work better for some. Timing also matters.

Can anyone tell you - what you should do? I don't think so. You need to decide for yourself.

If you are looking for a get rich quick scheme, I don't know any and I don't think anyone else knows.

But if you are ready to slog (For learning) and have little money, then yes domaining MAY work for you.

From all my life's experience all I can say is - From a hopeless situation to a decent base in 10 years with little money, can only be done from domaining in today's world. If there is anything else that can be done online that provides such flexibility and freedom, then even I would like to know. Pls chip in experienced domainers.

Just my 2 cents. May god bless you!

 

[Vertibox]

I concur with what VadimK said.

I understand there is no scope for Hand reg names

This is not true, just a belief you have come to believe in. Much like all of the human-only things which are all in the mind only.

It is true that the domain names market is a mature market, with 99.99% of dictionary words already owned and some used for operational businesses. Plus, there are many two word dictionary names that have been taken, some of which are used for operational businesses.

The heady days of the .com boom of late 1990s-early 2000s are not only long gone, they will never ever return.
Just like physical land in a desirable area gets snapped up and then prices for what is left rise exponentially, as do the prices for what buildings are on that land.

Where you will find potential is in made-up words. Think of expedia, skype, spotify, nvdidia, trivago, tucows, zillow, zoopla, google, twitter, wikipedia…
All these names were virgin territory at some point until someone came up with them. You can do the same.

Yes, it takes much more to come with a made-up word than putting together two dictionary words. It takes more time, more effort, more creativity and more patience. This wasn’t the case in the very early days of the internet when you could register some of the names that are big names now - imagine coming up with google, or amazon or twitter in 1990-1993?
Yes, we don't have that world now and the pool of names is much less, but you can still find good names to register.

So there is much less scope to come up with good names than 30 years ago but that doesn’t mean the landscape potential is bereft of opportunity. But you are coming into the market now, not 30 years ago and so unless you have a handy time machine, you need to accept the situation as you find it now.

Made-up words is what I have been focusing on for the past two years. I also have names that aren’t made-up.

There is only one reason people invest in domain names and that is to make a profit. There is no other motivation or purpose.

Key questions you need to ask yourself are;

1. Why do I want to do this?

2. Am I ready and willing to invest the necessary time, energy and patience to invest wisely?

3. Do I have a budget and is it OK if I lose all of it?

4. Have I understood what makes a good domain name? << super important

My advice is to keep your money in your pocket until you have answered all the above questions, properly.

Also, stick to .com names and nothing else - all other extensions have very minor/no value and not worth the registration & renewal fee. Some extensions are cheap for a reason… (.xyz is a good example of a junk extension). .ai is another.

Don’t get caught up in any hype and hysteria about some new thing. This forum and others are a major source for that as well as plain old lies and scammers. There are good people on here but some bad ones too and its not always apparent who is who. There are crooks in registrars and marketplaces, as well as registrants, so keep that in mind, always.

Read as much as you can find and keep reading even when you start buying names.

You said “I am getting pulled back”. Really? By what force? Are you in control of your life or are you just letting other things control your behaviour and thoughts?

Everyone here and elsewhere all started out with zero names and have come into this area at different times. Some themes though remain the same as they do in any business/investment area and remember, there is nothing new under the sun.

 

[AbdulBasit.com]

I dont know why you didnt get more responses 2 years back, even I missed this post. Anyways, its never too late.

I can share some of my experience; I started about 10 years back with bt 500$ in my bank.

I survived somehow from previous work for initial 6 months and since then I am living off domaining.

What kind of motivation do you need? You need to know how much I made or you need to know how much can be made?

If you have heard of @AbdulBasit.com, if my memory serves me right, even he started with something like 500$ and I must tell you, he's a big name in domaining today.

I haven't made that big but enough to say that its been about 5 years since I had to worry about my monthly expenses. Got a new honda car bt 2 years back - Cashdown. Have over 2K domains and have a decent portfolio in equity. All from domaining.

I wont reveal any more numbers but hope you get the point, and I can assure you, there are many more domainers who can say the same or ve done even better.



How did you come to this understanding?

Money can be made from hand regs as well. Just check the following thread - https://www.namepros.com/threads/report-completed-domain-name-sales-here.83628/page-1328#posts.

There are many strategies that people use in domaining.

There are many boats (Trends) that keep coming in domaining. Bt 5 years back - It was crypto domains. Since last 1.5 years, its AI domains.

All strategies work, just that some work better for some. Timing also matters.

Can anyone tell you - what you should do? I don't think so. You need to decide for yourself.

If you are looking for a get rich quick scheme, I don't know any and I don't think anyone else knows.

But if you are ready to slog (For learning) and have little money, then yes domaining MAY work for you.

From all my life's experience all I can say is - From a hopeless situation to a decent base in 10 years with little money, can only be done from domaining in today's world. If there is anything else that can be done online that provides such flexibility and freedom, then even I would like to know. Pls chip in experienced domainers.

Just my 2 cents. May god bless you!

Very well explained.

I still think one can start off with $500 domains and must focus on doing outbound marketing for selling domains. There are still a lot of opportunities coming up daily but I won't recommend any newbie to jump into buying hand-reg domains.

 

[Akhilesh.Kumar]

I dont know why you didnt get more responses 2 years back, even I missed this post. Anyways, its never too late.

I can share some of my experience; I started about 10 years back with bt 500$ in my bank.

I survived somehow from previous work for initial 6 months and since then I am living off domaining.

What kind of motivation do you need? You need to know how much I made or you need to know how much can be made?

If you have heard of @AbdulBasit.com, if my memory serves me right, even he started with something like 500$ and I must tell you, he's a big name in domaining today.

I haven't made that big but enough to say that its been about 5 years since I had to worry about my monthly expenses. Got a new honda car bt 2 years back - Cashdown. Have over 2K domains and have a decent portfolio in equity. All from domaining.

I wont reveal any more numbers but hope you get the point, and I can assure you, there are many more domainers who can say the same or ve done even better.



How did you come to this understanding?

Money can be made from hand regs as well. Just check the following thread - https://www.namepros.com/threads/report-completed-domain-name-sales-here.83628/page-1328#posts.

There are many strategies that people use in domaining.

There are many boats (Trends) that keep coming in domaining. Bt 5 years back - It was crypto domains. Since last 1.5 years, its AI domains.

All strategies work, just that some work better for some. Timing also matters.

Can anyone tell you - what you should do? I don't think so. You need to decide for yourself.

If you are looking for a get rich quick scheme, I don't know any and I don't think anyone else knows.

But if you are ready to slog (For learning) and have little money, then yes domaining MAY work for you.

From all my life's experience all I can say is - From a hopeless situation to a decent base in 10 years with little money, can only be done from domaining in today's world. If there is anything else that can be done online that provides such flexibility and freedom, then even I would like to know. Pls chip in experienced domainers.

Just my 2 cents. May god bless you!

Thanks Vaibhav.
I could not gather words how to reply since two days.
Cant express, but yes the resonance vibrated so well that it got connected with heart beats.

On it.
Hope to see you sometime in person.
May God bless you. You are a darling.

I can't think of pros and cons for now, don't know if should ask you for some tips, surely I spent hours reading and learning few years ago. I think I dropped the ball when I was about to play my debut, I did practice in nets.
I don't know why I dropped the ball and could not restart yet. But I will now.

 

[Akhilesh.Kumar]

Very well explained.

I still think one can start off with $500 domains and must focus on doing outbound marketing for selling domains. There are still a lot of opportunities coming up daily but I won't recommend any newbie to jump into buying hand-reg domains.

Thanks sir,
Your words means a lot.

 

[Akhilesh.Kumar]

1. Why do I want to do this?

2. Am I ready and willing to invest the necessary time, energy and patience to invest wisely?

3. Do I have a budget and is it OK if I lose all of it?

4. Have I understood what makes a good domain name? << super important

Thanks a lot
A direction is what's required for the first step
Taking time to answer these questions
I will Restart, that's for sure. But surely after getting firm answers to these ones.
And I will try to return and share the outcome.
Pray for me

God bless