As you may know, I’m a domainer… a person who buys and sells,
as well as buys and holds domain names, capitalizing on market
demand for specific domain names.
Since only ONE person can own a given domain name at one time,
each domain name is a scarce commodity, but some domain names are
only worth… at the most, what you pay for them.
So buying and selling domain names… assessing the value of a
particular domain name, is both an art and a science. This is
something I’ve been studying for well over a decade, going
through training offered by my friend, Gene Pimentel, and by Adam
Dicker (former VP at GoDaddy).
So, I’m not totally clueless.
I once bought a domain name for $70, and quickly flipped it for
$5000. I paid $70 for it because that was when you could only buy
a domain name for a minimum of 2 years, through only ONE
registrar, and that costed $70. You may remember those days.
Some of my friends and acquaintances have purchased domain names
for as little as $10 that they turned around and sold for tens of
thousands of dollars… even hundreds of thousands of dollars.
That takes both skill, and a degree of luck. Imagine thinking of
buying a domain name like Facebook, or Google, or YouTube… all
nonsensical words, but they are ALL worth a FORTUNE today… yet
most people would have probably not purchased those domain name
when they were available for anyone to purchase.
When one of my students recently asked me about buying and
selling domain names, I acknowledged that it IS possible to hit
it our of the ballpark with the right domain names, but I’m also
just as happy DOUBLING my money on a domain name.
Consider, buying $500 worth of domain names and selling them for
just twice what you paid for them. If you reinvested the
proceeds into more domain names, and kept repeating that process
on a weekly basis, after just 12 weeks… you would have
$2,048,000.
Assuming that you structured your affairs to where you ended up
paying 50% in taxes, you’d still be left with over $1 million.
My point is that you don’t have to always go for home runs. Just
buying a domain name for $8-$12, and then selling it for twice as
much, COULD potentially leave you a millionaire in only 3 months.
Now, you can see how my goal of making $1 million in profit in
the 100 Day Challenge is not really INSANE 🙂
It doesn’t even take “thinking outside the box” 🙂
FYI, I don’t even work very hard at choosing domain names. I
rely upon a $5 per month subscription from my mentor, Pimentel.
He calls his lists, whicn are published roughly 5 times per week,
“Name Snagger.”
Each issue contains 200-300 names that Gene has somehow selected
from the more than 100,000 names that are “dropped” (expired and
not renewed within a certain window). Based upon his 15+ years
of experience in domaining, Gene recommends those domains.
To subscribe to Gene’s Name Snagger lists, simply visit:
https://WillieCrawford.org/NameSnagger/
You see, things don’t have to be complicated, but also remember
that there are no guarantees in business. Name Snagger certainly
gives you an unfair advantage though.
To your success,
Willie Crawford