debate We'd all be millionaires if domain investing was that easy

[MisterSoft.com]

There are Domain-GURUs out there selling their e-books and tips for hundred of dollars. These so-called Domain-GURUs claim they're making hundreds and even thousands of dollars every day flipping domains! Do you think anyone holds that Magic-Bullet?

 

[bludex]

It's also easy to sell but not so easy to sell with a profit. To know which domains are valuable (and when and to whom). If all domainers get more professional (comparable) domain prices will rise.

 

[doubleU]

We'd all be millionaires if [name any industry] was that easy.

Every industry has millionaires and or billionaires, the fact is thou that most who get involved with anything will fail or not reach their expectations.

As long as people refuse to listen to those who have mastered the art of making money within a industry, the majority will continue to fail miserably.

I have nothing against innovation, but first prove you can make it using the current proven tried and tested methods, then go on and test new ideas.

The industry is full of newbies again thanks to new gTLDs, most possibly more than 95% will fail in their first year.

 

[garptrader]

If you have visibility of the finances of real companies you realize how trivial domains are generally viewed outside this industry. The real money is in what you can do with a domain. However, those who invest all their time and resources into acquiring domain portfolios don't generally have the time and resources to devote to launching successful businesses.

 

[DOMAIN ILLUMINATI]

It's very easy to invest but very hard to make profit haha
...

I would like to add to this statement -

IMO , It's VERY hard to invest (in terms of knowing the value of the domain(s) you're buying - and IF you bought RIGHT) it will ALWAYS be easy to Profit -

So in Domaining - it's harder to invest than to profit!

Fully agree

I was a bit sarcastic - what I meant, was simply that it's very easy to reg. / buy any domains while it's very hard to sell them / make profit than.
In this view, buying (investing) is easier than selling (profit).

But as you said it correct of course, it's hard to find / reg. / buy the right domains - but when you have them, as you said, it will be easy to sell them, to make profit.
In this view, selling (profit) is easier than buying (investing).

IMO, a good example that the same thing can be described in nearly opposite ways.

 

[Joseph Green]

It's certainly not easy, but it's a lot easier than building just about any other type of business.

If you can't build a successful business by domain investing, then I'd recommend not trying in any other industry. Work for someone else instead; there's nothing wrong with that.

 

[campout]

I'll tell you this: if I find a magic bullet, I'm not selling it in an e-book. Better to find an investor if you find a magic bullet (but don't have enough capital to tap it out) than to expose it to others IMHO.

That said, I do think domaining is young enough, and profitable enough, that there are pockets of magic bullets here and there still to be discovered!

 

[Recons.Com]

Well, you might find a magic bullet, stock up with the best of it, and then share the knowledge to increase competition for the remaining and raise the value for your own holdings.

 

[Lite]

I voted for "very hard".

 

[campout]

Well, you might find a magic bullet, stock up with the best of it, and then share the knowledge to increase competition for the remaining and raise the value for your own holdings.

Yes... I see that... and if you can charge people to go do that, even better! That's how to bring the value forward in time and increase time-weighted return. If you can't at least charge them, I feel like you're leaving crumbs on the floor (at least) that could be better picked up by maintaining some sort of ownership in those crumbs.

Telling other people your secret may be a way of seeing sooner rather than later if you are swimming naked. That has value, too.

 

[Recons.Com]

I agree. More over not leaving crumbs and getting greedy might be even more harmful.

See ngtlds for example. By trying to charge very high end user prices on premium (not just trashy premiums, but also what they call platinum), they exclude effectively brand ambassadors, sale people in domain investors, who could promote them to end users, explain why it would be good idea etc. Not guaranteed if it would have worked, but at least it would have given them a chance at decent market share.

 

[campout]

I agree that them keeping things locked up like that is dumb, it conveys their own lack of confidence in their product and shows them hedging their bets just to find a couple potential saps in the (likely) case that their new gtld never catches on. Or maybe the problem is they think too highly of their new gtld. They got biased glasses on.

The way I got into domaining was by buying an informational product touting what I soon came to believe was a poor strategy. Nevertheless it was well, well worth it because I learned that you could bulk check domains and I learned about keyword spinners. These two things were revelations to me, especially the ability to check availability on 500+ domains at a time. Well worth the $35 price or whatever it was for a flawed strategy.

 

[dname]

To me it seems that the "secret" is an outdated method that doesn't work anymore for the "guru" that sells the informational eBook at Clickbank.
However, Nat is correct that there is almost always something new to learn, even tho the advertised method is flawed or outdated.

 

[BelgianGuru]

what about a few thousands a month profits,
that's like a good extra income to me,
and if you scale it with time you can move from 4 to 5 figures a month, that will make you in the top 1% earners of the population

 

[richface]

There are Domain-GURUs out there selling their e-books and tips for hundred of dollars. These so-called Domain-GURUs claim they're making hundreds and even thousands of dollars every day flipping domains! Do you think anyone holds that Magic-Bullet?

They are making hundreds and thousands alright , it ain't flipping domains this is a Rich man's trick , the plan is to get you to buy the book and the only person who gains is the Guru. Any independent thinker knows the secrets of business is not available in any book, to succeed in anything in life unfortunately requires you to think on your own,The whole notion of masses becoming wealthy through books is false, Since everybody wants to be rich is it easier to see how people emotionally buy into this pyramid scheme one that has existed for centuries . Even today there are still people buying all sorts of books and how to make money schemes online the reality is the most successful people in the world did not come by success easy but by developing their own ideas, provide a service or product needed or wanted by masses, developing something unique , etc . The best tips are the free ones Usually with no agenda attached . Anyway this is my opinion only .

 

[ComboNames]

We'd all be banned if we acted like you OP

 

[hopkism]

I am sure there are people making thousands per day with domaining - I am NOT one of them - but this doesn't make it impossible. Domaining is hard but the beauty of it is that it gets easier with time, experience, and many losses along the way.

I do believe people selling their tips are selling the shovels but it's a business model IF they were as successful as they claim.

The problem is that EVERY SINGLE DOMAIN is unique! unlike anything else - even in Real Estate, you can 100% duplicate two buildings, but you can never do that in domaining! Every Single Appraisal is Invalid in my opinion - a million dollar domain in my eyes might not be worth registering in yours - So basically, I believe domaining is relatively hard in the beginning and gets easier with time and experience, and yes, I do believe people are making thousands a day! In every industry there are leaders who are making that and more.

After-all, if you have the money, you WILL make thousands per day for sure !! BUT, what's left in your inventory unsold that ALSO cost you thousands is not in the equation here

I gotta agree with the every domain is unique thought. I went several years making stupid mistakes and registering lots of losers. During that time the few sales I had were just liquidations for more money to register more losers. Then, when I decided to give up on the 'business' and just do it as a small scale hobby I scored big. I sold one domain (with tons of luck), not for millions, but for a comfortable price that put a down payment on a nice house. Since then it's been absolutely dry. But I come at it with a much different perspective now. Now I see different opportunities outside of domaining and so it receives less attention and less financial investment. I only hold a few and I only make concerted efforts to sell, with a long term approach.

To go back to the original topic, yes there are a lot of shovel salesmen. That's the majority of the self publishing and niche marketing blogs. There is so much more money to be made selling the dream and occasionally some solid information rather than actually putting in the hard work to accomplish the dream. It goes back to the saying, "fake it till you make it." Absolutely true. If you start posting online that you are the domain guru, in various forums, blogs, social media and eventually land a couple of great links like a casual news outlet or recognized generic blog you will have that title. I've thought about this business style before but it just doesn't sit well in my stomach.

 

[campout]

Looks like OP got his account suspended for some reason.

 

[steitieh]

I gotta agree with the every domain is unique thought. I went several years making stupid mistakes and registering lots of losers. During that time the few sales I had were just liquidations for more money to register more losers. Then, when I decided to give up on the 'business' and just do it as a small scale hobby I scored big. I sold one domain (with tons of luck), not for millions, but for a comfortable price that put a down payment on a nice house. Since then it's been absolutely dry. But I come at it with a much different perspective now. Now I see different opportunities outside of domaining and so it receives less attention and less financial investment. I only hold a few and I only make concerted efforts to sell, with a long term approach.

To go back to the original topic, yes there are a lot of shovel salesmen. That's the majority of the self publishing and niche marketing blogs. There is so much more money to be made selling the dream and occasionally some solid information rather than actually putting in the hard work to accomplish the dream. It goes back to the saying, "fake it till you make it." Absolutely true. If you start posting online that you are the domain guru, in various forums, blogs, social media and eventually land a couple of great links like a casual news outlet or recognized generic blog you will have that title. I've thought about this business style before but it just doesn't sit well in my stomach.

Sad truth - the method seller will always outperform people applying the method! in any niche - in any industry (with the Majority).

I once asked people in this forum if it was unethical to be contacted by a fellow domainer asking to buy your domain for $XX while the floor price for this domain was $XXX but you had no idea! Almost everybody said it was NOT unethical !

How is that different than selling the knowledge ! Two completely different ballparks - I know, but the end result is the same - it doesn't sit well in your stomach for one of two reason, you either don't think your knowledge is good enough to be sold - or don't have that knowledge - eitherways - I respect people thinking about this point as many shovel salesmen just "don't care" !!

Always remember, if you don't do it , someone else will - also, you will NEVER make everybody happy!

Domaining is HARD / VERY Hard - many out there do not differentiate between a domain name and URL!! I've been wanting to do my domaining course for many years! I hope this year I would kill my laziness and do it -

Rami

 

[Domain Galleria]

What about this? You bought a domain business course in January and joined Namepros February but when you read up a thread on reported domain sales, you discover your mentor made his first sale early February LOL....as often said in Forex trading parlance, most trainers rarely trade but feast on newbies' ignorance.

Very hard in my opinion

 

[doofer]

Instead of buying domains, i'm investing my money to invent a time machine, travel back to the early nineties and buy up everything !

 

[Recons.Com]

Instead of buying domains, i'm investing my money to invent a time machine, travel back to the early nineties and buy up everything !

Or you could just travel a week ago and buy lottery ticket.

 

[doofer]

True, wow i;m gonna be rich !?

 

[Recons.Com]

True, wow i;m gonna be rich !?

Yes. If you don't get torn apart while traveling through the micro black hole generated by time machine to disrupt the fabric of time-space continuum.

 

[steitieh]

What about this? You bought a domain business course in January and joined Namepros February but when you read up a thread on reported domain sales, you discover your mentor made his first sale early February LOL....as often said in Forex trading parlance, most trainers rarely trade but feast on newbies' ignorance.

Very hard in my opinion

You think that it doesn't happen? I've personally bought courses just to realize that the instructor (not in domaining) ONLY made money by selling the courses! as in ONLY by that

 

[Domain Galleria]

You think that it doesn't happen? I've personally bought courses just to realize that the instructor (not in domaining) ONLY made money by selling the courses! as in ONLY by that

Very rampant in forex trading circles