I starting buying domains only in June 2012. So far, I have made zero dollars so nothing to boast about. These articles are meant to shed light on domain investment for beginners, i.e. folks like me who want to make money from domains but starting from ground zero. I hope my journal will provide some real life example of how one can still make money from domains in 2012. I might failed (a highly likely outcome) but even then, you can at least know what NOT to do.
I started buying domains in June 2012. You can read this article on how do I buy and sell domain names. To minimize my losses, I try to spread my risk around by bidding on domains with low prices. I spent USD800 on 13 domain names in June and about USD200 on 8 domain names in July. The reason for the bigger spending in June was the 2 names that I bought for USD300 and USD200 respectively. The rest are mostly under USD50 purchases.
Looking back at these 2 months, I kept on asking whether spreading the risk out is really the best way to go. I have had zero inquires so far on these 20+ domain names so inevitably, doubts begin to appear in my mind. What I will try to do going forward is to buy less names but hopefully high quaity ones. I also want to constraint my buying budget to no more than USD400 per month. This budget is important because it keeps me from going crazy and buying all sorts of domains, thinking that I will be rich selling them.
In August, I bought 2 domain names so far: TryPhotography.com and CureSickness.com. Again, I am not sure if these are good names but at least they mean something and they are easy to spell and remember. I don’t think they have any type in traffic.
So to answer the question in the article title, there is no exact number of domains that you need to have in order to make money. Some might make money with one. Other might make nothing from thousands of domains. Important thing is to sharpen your skill in knowing what is a good domain that can be sold. That should be the only guiding light that we use. At least it is for me.