Quick easy advise for beginners

Started by a112, Jun 28, 2022, 01:46 AM

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a112Topic starter

After looking at a lot of appraisal threads from beginners, here are some quick, small advise for you, before you start investing in domain names:

Do not buy any domain in the first 2 weeks of you starting off as a domain investor
Know why you are in this game - short term, medium-term or long term. Usually short term doesn't work very well
Do not invest in anything apart from .COM, .NET, .ORG, .CO, .IO and a couple of other extensions which you understand
Stay away from new extensions unless you really really understand and have done your research

I will share more tips but keep these very basic tips in your mind as you start off. You will save tons of disappointments, time, energy etc.
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Ryar

For doing deals outside the marketplaces, there has to be some trust.

I have done plenty of deals through Pay Pal payment; however, I usually give them a link to my professional LinkedIn page. I tell them to connect with me there, so they can see that is my account. I also tell them to Google me and I give them my phone number to call.

I have the advantage of having a long career in corporate world, so they can see I am not the kind of person that is running a scam for xхx or xхxX

I have even set up customers on payment plans through PayPal (use the subscription option) long before it was popular on the marketplaces.
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Sevad

"selling" process, assuming you are the owner:

1. seller and buyer agree on price and method of payment
2. buyer sends payment as agreed via previously specified means, (escrow, paypal, crypto, marketplace)
3. after payment is verified, seller transfers domain to buyer,
A. buyer has to request the auth code from existing registrar and then supply that auth code to buyer
or "push the domain " if at same registrar.
B. if buyer requests auth code to transfer domain to a different registrar, then you must unlock the domain before/asap after sending code, and also agree to allow the domain to be transferred from your account.
you should receive email from your registrar to approve it.

4. buyer acknowledges receipt of domain.
5. seller thanks buyer for doing business with them.

** if/while a domain is still in 60 day lock, then it cannot be transferred to a different registrar. it can only be "pushed" to a different account at the SAME registrar. **

imo...
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arthyk

Quote from: a112 on Jun 28, 2022, 01:46 AMDo not invest in anything apart from .COM, .NET, .ORG, .CO, .IO and a couple of other extensions which you understand
Stay away from new extensions unless you really really understand and have done your research

Really helpful advice. Although I am new to this business, I am suspicious of new extensions, as well as ordinary users. A clear understanding of your goals is correct, but I would like to know in more detail what they may consist of.
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Chayka

Hi! Thanks for the tips! I will definitely listen to them. I have a couple more.These are tips from my personal experience, so take it apart)
1. Check the domain before buying, not always its history can help you, for example, in a start-up business;
2. Preference for registration should be given to short names — with two levels of nesting. Three-level domains can also be used for regional promotion.
I hope this information will be useful to you.
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Dipika24

Investing in domains seems like a very promising area for me to work on. I was just recently looking for information on which zones are the most profitable to buy domain names. Your advice is interesting, but I would like to know more practical advice for those who are just starting to understand this matter.
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sasablogger

Domaining is hard work and constant learning. I've only been doing domain name mining for three months and I seem to have understood a very important thing - always ask questions! And this is what everyone should know when buying even their first domain name. Ask yourself, would you buy a car without asking questions? It is clear that the answer is no. Why not do the same when you buy domains? You must do this every time you register or purchase a domain name.
And generally, it does not matter what you buy - always ask. The more you ask, the more you know.

When I started a few months ago, I registered all the domains that I thought were "cool". Yes, and they really were "cool" but only for me, and not for everyone else. So look around on forums, on auction websites, and see what sells and what doesn't. Keep a log or Excel file to monitor domain sales. All these tips for you are what I needed so much when I started.

If you want to make big money, treat the domain industry as a multi-million dollar industry from the start. If you are looking at this as a part-time job for pocket money, then I will disappoint you - you are unlikely to be content even with that. In no way am I advising you to spend thousands on new domains - only spend what you can afford.

I see "domainers" on the forums all the time who need to sell their domains in order to pay their bills... Don't ever do that! Once you get into it, it will be very difficult to get out.
Never place a bid in an auction that can seriously affect your financial condition - otherwise you will collapse.
Also, don't spend money from sales until you have received money from a deal that has already "taken place." Anything can happen - sometimes people don't pay when they should. Tip - only spend what you can afford.
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