Domain Scams by Marc Charles

7:32 AM

Heres an honest question from a blog subscriber....


Question: I’ve heard about people making money buying and selling domain names. I know this market was hot during the dot com boom. But does it still present a viable “side income” opportunity today?

 Answer Marc Charles:

Yes. Buying and selling domain names can be a viable side business.

The domain market was extremely hot from 1999-2002, and my “domain portfolio” performed nicely during this period.

But the domain market is far from over.

Just to clarify…a domain name is the official name of a computer (host) which is connected to the Internet, like www.BlahBlahBlah.com

 

Domain names are alphabetic Internet addresses which end with a period and three or four letters like .com, .net, .biz, .edu, and .info, etc.

There are more than 80,000,000 “dot com” domains active on the Internet according to DomainTools.com.

In order to function on the Internet, a host needs an alphabetic domain name which has an associated numerical Internet Protocol (IP) address record. 

For example, the IP address for BlahBlahBlah.com could be 208.77.188.16

Every business goes through cycles or waves; buying and selling domain names is no different.

But domain names are still a vital part of doing business on the Internet. 

Therefore, the market for domain names is extremely active, which means millions of people (and companies) buy and sell domain names on a regular basis.

So, how do you make money with these things?

It’s easier than buying a book on Amazon.com!

Here are eight high-traffic domain marketplaces and auction sites on the Internet:

·        Sedo.com

·        Pool.com

·        GoDaddy.com

·        BuyDomains.com

·        Afternic.com

·        DomainAuctionsScript.com

·        BuySellWebsites.com

·        SitePointMarketplace

The objective is to buy a domain name at a relatively low cost and sell it at a higher price.

I say “relatively” lower cost because this doesn’t always mean buying domain names dirt cheap.

In some cases it might require buying a domain name for $500, and selling it for $1000 or more.

However, I purchased a domain name with the precious metal gold in it for $15 in 2001. I recently sold this domain (and a corresponding website) for $5000. This is more than a 30,000% return on my investment!

Granted, this domain name sale included website programming, image files, membership list and a database. But these elements cost me less than $1000 - so my actual return on investment was still pretty good.

Here’s an insider’s secret for buying profitable domain names.

Look to the future!

In other words, things, people and events that are popular today, may not be popular in 2 weeks, 2 months or 2 years.

When I purchased the domain name with the precious metal gold in it I suspected precious metals might be a hot commodity in the future (after a stock market crash), and I was right.

So, when you’re purchasing domain names look for topics, events, people, music and technology which should be popular down the road.

For example, most of the domain names associated with “American Idol” (the popular TV show) have already been purchased and in some cases are overvalued.

But that doesn’t mean you can’t make money on domain names with the phrase “American Idol” or something related to the show.

The idea is to look to the future when purchasing domain names.

This might mean contestant names in Season 8 of American Idol, special reunion concert tickets like the Simon and Garfunkel Tour (SimonGarfunkelReunion09 is available as of this writing), or special events like the 2010 Olympics (2010-Olympic-Tickets.com is still available as of this writing)…your domain names should be profitable.

Think of domain names like real estate.

Four years ago property in South Beach Miami FL was hot and sold at a huge premium. The same property today is selling at a huge discount.

The same is true in the “domain portfolio” business.

Companies like GoDaddy.com have millions of domain names in their portfolio. GoDaddy.com is domain name registrar – meaning they are authorized by ICANN to sell and register domain names.

GoDaddy.com also buys domain names at a low cost and sells them for a profit. GoDaddy.com also aggressively purchases domain names when expire!

You can purchase domain names at relatively low costs at these four registrars:

DotEasy.com

GoDaddy.com

Sedo.com

Netfirms

More Profitable Domain Ideas

You can also grab domain names with “built in” popularity. These domain names were recently offered for sale in the SitePoint Marketplace:

SantaNews.com ($1,500)

LocalSwineFlu.com ($50)

RealPokerStars.com ($100)

SecretForexTrading.com ($30)

The combinations for domain names are almost endless.

Buying and selling domain names can be a viable side business and the start up costs are minimal. 

I hope that helps! 

Marc Charles

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Real Estate in a Depression by Marc Charles

4:29 PM

Hi Gang:

Ive enclosed a question I received from an entrepreneur recently.

I thought you might like my take.


Question: Marc, whats your take on making money with real estate in the current economy?
M.F. Apple Valley MN

Answer Marc Charles:

In 2004, I mentioned more than a dozen times in my newsletter, blog, speeches and conferences real estate would end badly.

Three conference organizers did not want me back....even though I was the most popular speaker at two of the conferences (according to an attendee poll).

The reason the organizers did not want me back is because I kept talking about a "depression" and real estate collapse (in most areas of the US).

Anyway, that was yesterday....what have you done for me today!

Weve all seen the real estate fiasco...and some people have been devastated by it.

But, the real estate boom (ans BUST) was predictable. If you had eyes to see, you would have known the boom was not going to last.

When I saw a cashier from a local convenience store drive into her triple car garage, which was attached to a $400,000 home, I knew the boom was toast. This was in 2005. The boom lasted another three years, and then kaput!

Almost everyone I knew, 90%+, was bullish on real estate from 2004-2008. The reason everyone was bullish is because in most cases they were making money.

But then the market collapsed....and is still collapsing.

Most people never realize, or refuse to realize, theyre involved in hysteria. But all it takes is simple, common, horse sense. You can also seek wise counsel from someone whos already lived through hysteria or "madness of the crowd". In many cases wise counsel will be twice your age.

Ive made money on real estate. But Ive also avoided major losses. I did not lose one thin dime in real estate from 2004-2009. I was also not underwater with mortgages.

Anyway..enough with the long winded response!

Yes....you can make money on real estate in a Depression. The key is buying at super deep discounts, not being over-anxious about doing deals (or fearful), and paying cash whenever possible.

The problem with most foreclosure properties is finding a clear title, and a property with no liens. But thats another topic.

The days of Fix and Flip are over for now! This market may not recover for 10 years...if ever.

But you can still find incredible deals, offer even less, wait for your terms, and rent the property.

Drop me a note if youd to know about specific markets Im considering.

I hope that helps!

Marc Charles

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