I came across this article:
10 Tips for Investing in Domain Names
I wouldn't say that your time is well-sent sitting around and thinking about the right domain name to buy, but assuming that you have some plans for a business or a fancy blog... then it might be worth holding on to a domain name.Most domains won't make you a lot of money, but in the case of owning a business that has a specific name, not owning the domain could cost you a lot of money.
The thing about domain names is that they are relatively cheap, and they can potentially have very high returns. On the other hand, you can basically lose whatever you put into it very easily.
The article covers many good points about domain name investing. These points can also be translated into real estate investments.
I just thought that it was neat to see the crossover. I'm sure there is something intelligent to say about it, but instead I'm going to go look at my domain name collection*.
*Note: this does not say investments :(
9 comments:
Are you buying up dot coms like it's 1995, or do you have a viable product your trying to off on the unsuspecting public? Starting up an idiotic site like hotornot can bring you a fortune in advertising.
Hey Joe, have you saved your $750'000 yet? Wayne's really turning up the heat with his deadlines. there's only 5 years left. It's only 150'000 a year, which puts it more into perspective.
T2. When you figure out what a website is, we'll let you comment here. Until then, you can take your cassette player, beta machine and stringed guitar (cool people play Guitar Hero, now) and park yourself at the retired teachers RRSP seminar.
You can't handle the $150K per year because your thaaang turned out to be more than a chicken wing.
No. I have no idea what I meant by that, but man, it sure hurts, don't it?
And no. Since DissJo is a bit slow, I'll defend the little pocket protected gaffer by saying 'He'd never try to make a million out of virtual companies."
That said, I just heard the most hilarious thing from our two elementary-aged homestay dudes. They have this video game-addicted friend who apparently plays games, builds up the value of their IDs and sells the IDs to willing buyers for over $500 a shot. Did you catch what I just said? He takes nothing and makes $500 with it. Playing games. Better than that... He benefits from all the $$ the game companies put in building it.
If you come up with a business like that, where you can take zero value and make $500, then you're a 1-800-Got-Junk champion, and I'll invest with you (but T2 won't because he wears lacy stockings).
Oh yeah. I forgot the reason I posted was not just to cut T2 down. Good article DJ. I like it. I don't think there is anything there that you and I didn't learn by doing, though. However, I would strongly recommend this link to anyone in the domain market.
The one thing I've been thinking about is... how does anyone know that the www.blah.com format will forever dominate? Did anyone every think that www.blah.com would take over in importance from the phone number format? I'd say, take this article, and build a new WWW, own the domain registry companies, and every piece of IP that goes with it!
Let's build a new internet for cool people only.
Unfortunately, your new internet will exclude you.I think what your little pseudokids are doing may be some sort of copyright infringement. I fear you are harbouring criminals and may not be with us much longer. Don't worry, I'm sure the judge will put you in the blue collar section. But if not I'll have a word with Mo-money, my investment professional on the inside (got picked up for a couple of 'risky' investments) and he'll protect you.
Hey, T2. Did you ever hear about how in history there were people who protested the tractor because it was putting good, hard working farmers out of work? I'm sure I can find an article to back this up. Hang on... "O goooooogle!" Here we go. Check this out. And what's funny is it really wasn't that long ago (1812).
So they were called Luddites. They operated on fear and their fear eventually got them hung.
I won't hang you for your fear, but I'll certainly flog you and mock you.
I don't deny that all change brings with it growing pains, but if we position ourselves in front of the change we win. And that, my BLIP friends, is our goal. And besides...If we don't use our God-given creativity for something I consider it a slap to the Maker.
Maybe you should give me the 'friends' address so I can go smash the gaming console. That's what us huddites are all about. Well, that and hangin'. BTW How come you're commenting in the middle of the day? Don't you have a wheelbarrow full of concrete and your name on the side waiting at a jobsite for you?
No. I do everything real-time because I'm hi-tech, not lo-tech, yo.
And, I work from home, as you know. I can be found building equity in my business during regular business hours. Slow going, though! However, faith is the substance of things hoped for. I hope for a significant business, so I need faith.
And never diss the construction crew. There is no better way to trade dollars for hours at this point in the show in Vancouver. If I wasn't absorbed in business building, I'd be building condos for sure.
That's phase 2 of BLIP. Post graduation.
Then phase 3 is 'Accredited Investor'. I learned about that term from Rich Dad. I like it. I think you need greyish hair for that though. And a lot of bruises from screw ups.
Yeah I don't see many gray hairs on kiosakis head. I guess that's why he doesn't offer any useful advice.
Just to clarify this old debate. I do not buy domain names for to make money.
Also, creating game characters and selling them for $500 is good and fun. It also takes at least 40 hours (this is increasing with the expansion sets) of game play in most cases. It is fun, but say goodbye to sleep, and the rest of reality.
I heard that one guy made it from level 60 to level 70 in 28 hours straight.
I used to play that game.
I suppose what's worse, is that I know a guy who actually bought a character for over $500 haha!
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