- Impact
- 26,959
- 8K views
- 156 replies
- 27 points
I think it's too late for someone to start domaining these days.
( Yeah, I know a few might eventually succeed - but that'll be quite rare, I think. )
I mean, what are the odds now for someone who has no skills but just the will to try it?
I started domaining just a few years ago. But then, it was still the real bonanza. Whatever you had, it sold. Price high, price low, nevertheless it sold. That's how I made it into profit in my third year, gradually improving.
Auctions were cheap, domains were cheaper, drops were full of juice. Closeouts, good stuff still falling through the net for us to grab.
Not anymore. 2022 came and passed.
Everything is overpriced now, people probably holding stuff waiting for better times OR for future plans, who knows. And yeah it's clear that you can't make a living when buying domains retail price from the market. You might recoup the monies in a few years, who knows, but it's too risky. And you'll have the money locked in it. And unless you have the $ to buy few high-value names, you are going to also burn money in renewals.
Don't get me wrong - I'm not complaining. This isn't about me. I'm alright, and at least in portfolio quality I'm definitely seeing betterment. And yeah, it's also not about the top investors who are still rolling cash although the numbers have diminished a little lately.
It's about someone new, willing to take the plunge and start today. I really don't see it to happen. The sales squeeze means that growing portfolio in the first place from $500 and some beginners luck ain't going to work anymore.
You need a serious budget to start with. And some itch to see it all spent soon...? And you need to make that budget triple at least; as for the next few years you're going to burn through it like there's no tomorrow. And after those years, maybe then, you're going to finally see the end of the tunnel that is the current market and if you have improved enough, then maybe, just maybe you'll see some return on all this hard work, money spent and risk taken.
I look at these guys and dunno if I should encourage them or tell them what they are getting into, and what are the odds.
Your thoughts?
( Yeah, I know a few might eventually succeed - but that'll be quite rare, I think. )
I mean, what are the odds now for someone who has no skills but just the will to try it?
I started domaining just a few years ago. But then, it was still the real bonanza. Whatever you had, it sold. Price high, price low, nevertheless it sold. That's how I made it into profit in my third year, gradually improving.
Auctions were cheap, domains were cheaper, drops were full of juice. Closeouts, good stuff still falling through the net for us to grab.
Not anymore. 2022 came and passed.
Everything is overpriced now, people probably holding stuff waiting for better times OR for future plans, who knows. And yeah it's clear that you can't make a living when buying domains retail price from the market. You might recoup the monies in a few years, who knows, but it's too risky. And you'll have the money locked in it. And unless you have the $ to buy few high-value names, you are going to also burn money in renewals.
Don't get me wrong - I'm not complaining. This isn't about me. I'm alright, and at least in portfolio quality I'm definitely seeing betterment. And yeah, it's also not about the top investors who are still rolling cash although the numbers have diminished a little lately.
It's about someone new, willing to take the plunge and start today. I really don't see it to happen. The sales squeeze means that growing portfolio in the first place from $500 and some beginners luck ain't going to work anymore.
You need a serious budget to start with. And some itch to see it all spent soon...? And you need to make that budget triple at least; as for the next few years you're going to burn through it like there's no tomorrow. And after those years, maybe then, you're going to finally see the end of the tunnel that is the current market and if you have improved enough, then maybe, just maybe you'll see some return on all this hard work, money spent and risk taken.
I look at these guys and dunno if I should encourage them or tell them what they are getting into, and what are the odds.
Your thoughts?