Greediness is a very dangerous in domain flipping. One should not expect high returns in less number of time. It takes number of years to get succeed in domain flipping. In this post, I discuss how I burnt my hands in domain flipping.
So it all started last year in July when my friend told me about this website called domainz.io. I went through the website, found it interesting, did some research on buying and selling domains. At first, I thought that I can make more money if I buy good domains. so, I headed over to Twitter and asked domainz if I can make profits buying domains from him. he said to buy some domains and sell it on flippa, so I bought a subscription for 15$, then browsed through few domains and bought the following domains. Total cost around 20k INR which is a good amount of money. My greediness expected double the money within an year.
After buying, I thought what if the domains were not sold in an year. I panicked and thought I did a mistake. I want to recover the money and tried these ways.
So, I put all my domains in flippa.com with premium listing by paying 59$. I realized that domain flipping is not so easy way to make money.
I put them for auction in namepros.com. Sold 2 domains for 90% loss 😔. I got to know that we shouldn’t buy trademarked domains like rockstargames.iowimbledon.me and salesforces.co due to copyright infringements. So, I panicked and immediately deleted those domains for loss.
I heard about undeveloped.com (now, dan.com) and listed all my domains there. The good thing about them is they provide a neat landing page and statistics about each domain. I waited for a year, but unfortunately, only one domain was sold.
What did I learn?
never invest without knowing the basics of anything.
more than pros, know cons first.
don’t trust any website/person. only believe in your analysis and conscience.
patience is the key. say you have some money with which you can buy 10 domains for an year. do not buy 10 domains for an year, instead research and shortlist 2-3 domains and buy them domain for at least 5 years and put them on sites like dan.com and forget about them. this is where I went wrong
if you bought a bunch of domains, try developing something on them.