In the year is 2012 and it is still not to late to make money in the domain name industry. While those that did get in the market 15 years ago had more opportunities, there are still many great domain names out there. Here are some tips that those that are interested in getting started investing in domain names might find useful.
Before you spend any money on buying domain names, it is recommended that you do a lot of reading and research from a variety of sources online. It is common for new or novice domain investors to waste a lot of money on names that are not that great in the beginning. Once you have a decent grasp on the domain name market and the value of domains you can ease into it.
Every day there are less and less domains available via hand registration, but that does not mean it is not worth checking for available domain ideas. Take the time to check for available domain names using a popular and trusted registrar like GoDaddy. The domain name aftermarket is where you can find a lot of decent names that have already been registered for sale. You should regularly frequent places such as TDNAM, popular domain name forums, SEDO, etc. By doing so, you can get a better understanding of what domains are selling for and find opportunities to be had.
Unless you really know what you are doing always stick to .COM .COM is typically going to hold the most value in general. If you want to venture into other TLD domain extensions I would stick with the most popular such as .NET, .ORG, and possibly some popular country code if we are talking about a GEO specific website or service. You would almost always want your brandable domain name to be a .COM, but in some cases a long tail exact match keyword .NET or .ORG can be quite useful and valuable.
Avoid trademark domain names at all costs. I repeat, do not register domain names that are obviously trademarked.
Try to come up with a good strategy for your domain investing venture. Are you wanting to be a long-term investor or are you going for the quick flip? Before you register a lot of domains and build a large portfolio, remember that you will have yearly renewal fees. It is easy to amass a large amount of domain names if you do not know what you are doing.
For me it helps to approach domain investing through the eyes of a webmaster or web developer. When I see a name, I think about what someone could and would want to do with it. A good portfolio of names should be built slowly over time. If you are acquiring a lot of domains over a short period you might be doing something wrong and might want to stop and reevaluate what you are doing.
We all have our own style and there are a lot of ways to lose or make money in the domain name industry. It is just that some methods are safer than others. Either way, take the time to keep current with the industry and constantly learn new things. Do not be afraid to experiment on a limited scale and try to look at the big picture. Domaining can be a lot like gambling, so educate yourself and hedge your risks before you get too invested!
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