Two Important Questions to Ask When Buying Domains
Most likely everyone investing in domains has a hope and dream to realize substantial ROI for their domain portfolio.
And if you don’t, then you might need to consider your motive for domain investing in the first place. 🙂
I’m not going to tell you that you can or can’t make a reasonable amount of money buying and selling domains.
The truth is, domain investors can make money, lose money or do a combination of both, hopefully more of the former and less of the latter. 😉
It’s recommended to take your time in establishing and educating yourself about domain investing in general BEFORE buying.Two Important Questions to Ask When Buying Domains Click To Tweet
Yet most newcomers to the domain industry tend to think they can swipe their way or spend their hard earned dollars on self-proclaimed “premium” domains.
I’ve had a number of folks, especially newcomers in the last 0-3 years, contact me within the last 6-9 months requesting domain portfolio reviews and suggestions.
I’ve also encountered a handful of folks at conferences during the same time period with the same need and desire.
Quite often these domain portfolios requesting review and suggestion are ill-advised purchases long from the shore of ever having been, being or becoming a sound investment.
In most cases, domain portfolios I’ve reviewed attain an extension distribution made up of new gTLDs and very few legacy TLDs, if any.
And to add insult to injury, most of the domains registered using new gTLD extensions were available for registration in one or more legacy TLDS (BIG red flag! 🚩).
When I question most of the owners about their extension distribution, most are still self-deceived by grandeur thoughts of 5 and 6 figure domain sales.
The sad part is that most inexperienced domain investors, especially those highly leveraged in new gTLD domains, have a “business plan” that’s nothing more than hoping and believing an 11th hour sale will happen.
I then proceed and conclude their domain review asking them to reconsider their domain investment strategy based on two questions we ALL should consider when buying domains.Two Important Questions to Ask When Buying Domains Click To Tweet