advice Your best domaining advice?

[DOMAIN ILLUMINATI]

Hey nP members,



we all have our individual experiences in domaining but we all have the chance to learn from each other in some way.
In this sense, I want to start a thread to ask YOU the following question:

What is currently your best domaining advice?

Thanks and all the best in your domaining,
kingof.top

 

[Casey L]

Normally I would tell someone not to spend a dime until you've read and learned as much as possible about the business, but I realized that the best way to learn is to make mistakes. I imagine most of us learned this way by spending money and then realizing we aren't getting our money back.

So probably the most useful advice in my eyes is to not spend money you can't afford to lose.

 

[doubleU]

Check the 'whois' of the unavailable domains you are interested in !

You might be surprised at how many domains are dropping that's on your list.

You can also monitor for changes in 'whois' records at godaddy, doamintools etc......

 

[Bram C.]

Believe in yourself.

 

[infosec3]

The most important skill you can develop is to distinguish what is valuable and what is not.

 

[namerav]

I'll keep it simple - Research and Learn.

 

[trp3]

First Learn, then remove the 'L'.

 

[DOMAIN ILLUMINATI]

First Learn, then remove the 'L'.

That's a smart answer

 

[Name Trader]

Get out now. The market is too crowded. Leave more buyers for me. (joke).

 

[GoKaizen]

Understand the bs in this industry as fast as possible.

 

[mad409]

Watch your back, someone is always behind you.

 

[guilty]

Patience is your friend.

 

[redesignunit]

Patience is your friend and also god.

 

[DGMDomains]

Take your time learning and get a nice feel for the market.

Along with what everyone else is saying; patience is needed and required.

 

[Cdomains]

The best advice is to sell your best domains to me for reg fee, and get out now.

I will take very good care of them for you. :D

 

[SheikhOvais]

My best advice other than learning and researching would be to do things professionally and set realistic goals.

You must learn how successful domain investors have made if possible and have achieved great success.

Even if you want to start domaining as a part time thing, but do establish your domain business as a pro. It requires more effort than bucks but it will pay you back in the long run.

 

[tvanrijt]

The best advice is to sell your best domains to me for reg fee, and get out now.

I will take very good care of them for you. :D

I have some domains from my first few days. I would be happy to sell them to you at reg fee!

Thanks for being generous

 

[tvanrijt]

My advice would be:

Set a learn budget when you start. You will probably make bad decisions in the beginning. If you say: I can spend up to $ 250 for learning and feeling the market, spend nothing more than that until you find something that also generates seed money.

Furthermore: dont be lazy. You wont become rich here by just regging some domains and post them on NP. If you get into this game, be prepared to work the hours to find valuable domains, end users and build relationships. If you are not willing to put in the hours, you will most likely fail.

 

[guru4444]

If someone says I know nothing about domaining..... believe him/her
If someone says Iam good at domaining.... somewhat believe
If someone says Iam the best ..... don't believe

If someone tries to sell you a ebook ....run away

 

[Cdomains]

I have some domains from my first few days. I would be happy to sell them to you at reg fee!

Thanks for being generous

I said "best" domains.

 

[platey]

Normally I would tell someone not to spend a dime until you've read and learned as much as possible about the business, but I realized that the best way to learn is to make mistakes. I imagine most of us learned this way by spending money and then realizing we aren't getting our money back.

So probably the most useful advice in my eyes is to not spend money you can't afford to lose.

well said but easier said than done as when buying a domain its easy to think that the domain you are buying is so fantastic and it will sell straight away for big profit but doesnt always work out that way and sometimes a good quality domain name may require the need to be extended a few times before it finds its price and the right buyer

and as i am learning to invest in stocks and shares which has similarities to domain name investing in as much as if you dont renew and or extend a domain name you lose the right to use it which exactly the same in buying the wrong share etc when it delists you lose all your money and the shares in that stock

so just as warren buffett the worlds best investor in stocks and shares etc always has available cash resource of approx $20billion ish at any one time as a safety net etc domain investors need to have their own buffer fund that is there to acquire the right domain names as they become available or to extend existing domains because it is so easy to get carried away as a new domain name investor and spend on buying domains and not have enough put aside to extend their good quality valuable domain names resulting which can result in them losing their best domain names due to failing to prepare to keep them etc

 

[platey]

My advice would be:

Set a learn budget when you start. You will probably make bad decisions in the beginning. If you say: I can spend up to $ 250 for learning and feeling the market, spend nothing more than that until you find something that also generates seed money.

Furthermore: dont be lazy. You wont become rich here by just regging some domains and post them on NP. If you get into this game, be prepared to work the hours to find valuable domains, end users and build relationships. If you are not willing to put in the hours, you will most likely fail.

great point

it takes time and effort and and good budgeting to get good and profitable

 

[tvanrijt]

I said "best" domains.

Lol you got me there... Nevermind in that case.

 

[Casey L]

well said but easier said than done as when buying a domain its easy to think that the domain you are buying is so fantastic and it will sell straight away for big profit but doesnt always work out that way and sometimes a good quality domain name may require the need to be extended a few times before it finds its price and the right buyer

and as i am learning to invest in stocks and shares which has similarities to domain name investing in as much as if you dont renew and or extend a domain name you lose the right to use it which exactly the same in buying the wrong share etc when it delists you lose all your money and the shares in that stock

so just as warren buffett the worlds best investor in stocks and shares etc always has available cash resource of approx $20billion ish at any one time as a safety net etc domain investors need to have their own buffer fund that is there to acquire the right domain names as they become available or to extend existing domains because it is so easy to get carried away as a new domain name investor and spend on buying domains and not have enough put aside to extend their good quality valuable domain names resulting which can result in them losing their best domain names due to failing to prepare to keep them etc

Stocks and domain names, while both investment vehicles, are still very different. Stocks have clear, liquid value as is portrayed by the price fluctuations. There are no charts for any given domain name telling you exactly what someone is willing to pay for it at a given time. My advice is that by jumping in feet first, you will learn quickly that the domain you thought was so great actually isn't. Many people on this forum still don't allow themselves to see the truth in the value of their domains, so it is good that you are keen of this. Best of luck in your endeavors.

 

[platey]

sold prices give a person a fair idea of a domain names worth and any domain name is worth what it is and any domain name is only worth what a person is prepared to pay for it