Greediness is very dangerous in domain flipping. One should not expect high returns in less time. It takes a 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 profit buying domains from him. He advise me to buy some domains and sell them on flippa, so I bought a subscription for 15$, then browsed through a few domains and bought the following domains. The total cost is around 20k INR which is a good amount of money. I expected double the money within a year. The list of domains I bought are
After buying, I thought what if the domains were not sold in a year. I panicked and thought I did a mistake. I want to recover the money and try these ways.
- So, I put all my domains in flippa.com with premium listing by paying 59$. 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
salesforces.codue 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 a year. do not buy 10 domains for a year, instead of that research and shortlist 2-3 domains and buy them for at least 5 years and put them on sites like dan.com and forget about them. This is where I did wrong.
- if you bought a bunch of domains, try developing something on them.
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