- The right domain name can improve your brand's reputation,
make it more visible and accessible,
as well as, ultimately, allow you
to compete with your rivals.
That's why highly competitive domain names can sell
for up to hundreds of millions of dollars.
Yeah, you heard me right.
So if you're interested in capitalizing
on golden domains for your business ideas,
or if you wanna make money buying and selling those domains,
we are here to talk about how you can easily find
acquirable domain names.
- So how do you find an easily acquirable domain name?
Well for one, you can pay attention to expiring domains.
When a domain naturally expires,
it usually returns to the registry, making it available
for public purchase once again.
But domain sellers are often aware
that expiration is coming up
and are motivated to make a bit of money
before they lose that asset altogether.
And this presents a mutually valuable opportunity.
Domain holders with domains set to expire,
give it one last chance to turn a profit
or cover their expenses.
While domain purchasers can score a great deal
on promising domain names, keep tab on expiring domains
in the future and be ready to make a good offer.
- Now be sure to avoid the hype.
Like in any market, price is dictated by demand.
Trends come and go in the domain purchasing world,
artificially and temporarily increasing the perceived value
of certain types of domains.
And I get it.
It's tempting to jump on the bandwagon
and take advantage of whatever is trending,
but it's usually better to focus on evergreen investments
that are going to be valuable no matter what is trending
or how quickly they change.
Otherwise you might end up overpaying
for a domain that simply won't be relevant for long.
- You should also take advantage of domain monitoring.
Platforms like GoDaddy offer services
like domain monitoring, which allow you to keep track
of price fluctuation, and trends related
to dozens of different domains, simultaneously.
This can make your research much easier
and helping you decide when to pull the trigger
and how much to spend.
And with this, you could also compare and contrast.
If you find that interesting domain for a good price
you might jump on it immediately, but it's often better
to do a little comparison shopping first.
What do similar domains sell for?
How have the prices historically fluctuated
for similar domains?
Are there any domains that are strictly better
than this one?
Who knows?
Can't do that unless you compare.
- That's right, listen to Nealey, also listen to me.
If you see a domain that you like, and it's too pricey
for your budget or your investing goals,
you can make an offer, but be prepared to negotiate.
I know, not everyone's comfortable doing that,
but offer what you think is a fair price for the domain
and engage the seller in conversation.
They might be willing to accept your offer.
And the worst thing that can happen is they say no
and you are forced to move on.
It's important to know what you're doing
when you're getting into the domain name trade.
So if you need help buying or selling a good domain
for your business, a domain broker can be a great help.
And if you're interested in learning more
about domain brokers, you can watch our video on that here.
- If you wanna maximize your potential profitability,
we got a few strategies
to start building a full domain portfolio,
and you just really want to start
with choosing your approach
'cause there are many different ways
to manage a domain portfolio.
Some people like the classic buy and hold strategy,
choosing domain names that are likely to increase
in value over the course of the years.
And if you have a low risk tolerance
and a time preference for long term investments,
this could be the right approach for you.
And now other investors prefer to flip domains
the same way they might flip houses,
buying cheap domains and reselling them almost immediately
to try and turn a profit.
Now this is riskier and harder to pull off,
but it's much faster and can lead to higher payouts.
You can also hybridize these strategies
and do a little bit of both.
- And don't forget to focus on value.
No matter what your approach is,
your main priority should be value.
Don't pay more for a domain than you think it's worth,
and always keep an eye out for domains that are undervalued.
It's tricky to gauge value as an amateur
but you'll need to master this skill
if you want to succeed.
I'd also encourage you to diversify your investments.
Now, the most essential piece of investing advice
you can receive, is to diversify your portfolio,
and your domain portfolio is no different.
Invest in a variety of different types of domains
if you wanna minimize your overall risk
and stabilize your potential returns.
- Making money flipping domain names
and investing in them long term are complex strategies
that require a lot of time, research, and experience.
But if you're willing to learn the nuances
of these strategies and search attentively
for low hanging fruit,
you could find some great deals on domains,
and ultimately make a decent profit.
But that's a wrap.
Your journey doesn't have to end here
'cause we have over 300 videos for you to watch.
- Be sure to like, comment, and subscribe.
Thanks for watching, this is The Journey.