Domaining
January 10th, 2008 by KenricYou can get a dot.com name from 1&1 for $7/yr. So registering 100 names will cost you only $700/yr. Hopefully, you will get a few great names. If you bat .250 and have 25 valuable names, that’s a good start to a portfolio. Sell 3 at $250 and you’ve broken even.
Speaking of domain names, Network Solutions made a huge blunder that was uncovered on Tuesday. If you haven’t heard about it, these articles pretty much summarize it.
Basically Network Solutions was holding hostage any domain name that was searched on their site. If you searched a domain name and did not register it, they did instantly. You had to go back to them in order to purchase it. This caused a huge backlash and personally I’m never going to use them ever. There have been rumors that GoDaddy did this also. In fact, these rumors have been floating around with many registrars for years but yesterday the cover was popped by DomainTools. I personally use Domainsbot to search my domain names and I haven’t had one taken yet.
With that said, I purchased my first domain name investment last night. I consider it an investment because I am purchasing notion that its value will increase over the years. This domain is a little different than a pure flip investment because I will actually create a site and monetize it. However, if that does not work out, I have a good two word domain name that I feel will be valuable in the future.
I have never bought a domain on the secondary market before. I was searching domains for another ebiz when I found one that matched what I wanted. It was for sale with no asking price. It had a minimum bid of $250 so I put a bid in. The site indicated that the reserve was not met so I went to look at other domain names. About 30 minutes later I got an email saying my offer was accepted. I paid and it has been transferred over to me. The process took less than 24 hours.
If you think that domain flipping isn’t a viable business, I just paid $250 for a domain that was registered for $10. Not a bad profit for the person who originally registered it. Just take a look here for sales in 2008 so far. When I look at those prices, I think I got a steal at $250 cause I was prepared to pay up to $1,000.
Posted in Making Money Online | 2 Comments »
Stumble it!
People and companies have been buying up domain names for years and years already. I think it will be difficult to get a name cheaply yourself and then sell it later. Best of luck trying!
By Anonymous on Jan 10, 2008
It’s not too late to join in the domaining business. It is true your going to need a bit of a budget to get started to make good flips and the days of being able to handreg a domain and then flip it for a huge increase is rare but it does still happen.
My advice is anyone starting up should start with $500 and use that to purchase domain(s) that you know will give you profit and go from there.
By Anon on Feb 19, 2008