Skip lunch and buy a Domain Name

Over at GarryConn.com there has been a flood of comments on his post about Domain Names. It is very interesting to see how others regard buying domain names. While most of us are not rich, buying Domain Names is one of the easiest and cheapest investments you can make online. For less than $10 you can register a Domain Name for a year. If you break that down it comes to less than 3 cents a day!

I have gone through waves when it comes to buying Domain Names. At times I have gotten on a binge and purchased several at a time. But the best practice I have found is to have a plan. Each month I take $10 to $50 of my online income and reinvest it in Domain Names. I also try to launch 1 new site each month with one of these names. I no longer worry about Domain Names I have purchased but not activated. The worst case scenario is I wasted $10 over a year.

If I purchase 24 domain names in a year at $10 each I have only invested $240. So all I need to double my money is to earn $460 over a year on just one of them.

Do you have a plan?

11 thoughts on “Skip lunch and buy a Domain Name

  1. Excellent post David! I personally feel that owning domain names can be one of the best small time investments you can get into.

    Heck it’s pretty safe! Worse comes to worse, you can easily sell the domain name for the same price you bought it for.

  2. This is a really good way of looking at it – in terms of an investment!

    I’ve never really looked at buying domain names other than ones that I specifically needed at a given time, perhaps I should start speculating!

  3. Garry – I think it is a pretty safe investment. Not a lot of risk unless you just go crazy purchasing more than you can deal with.

    Zath – Investment is the key, and remember there is a fine line between investing and speculating.

  4. LOL!!! Speculating… yeah, I fall victim to that sometimes.. my portfolio of domain names has a pretty diverse mixture of names that are worth gold and names that I couldn’t even give away! LOL!!!

  5. hehe, now see it hadn’t been broke down like that before and now I want to do it. I even read Garry’s blog. lol. Thanks for twisting my arm, I’m thinking I know what I want for Christmas this year. Oh and for all those wondering they really would make nice gifts.

  6. Since most of the domains over at Garry’s are already taken, if someone is looking for available domains they should check my blog out. I regularly post available domains lists for folks to register.

    Here is an excerpt of what is in the latest post:

    bathremodelling.com
    directoriesreview.com
    bettertans.com
    scriptingfreaks.com
    divineseo.com
    logomastermind.com
    pornincentives.com
    pornlicios.com
    linktasty.com
    milflister.com
    funnysitelinks.com
    coolwebsitelinks.com

    Do visit the blog for more domains.

    Cheers.

    John

  7. Skipping lunch and buying domain names instead is one of the best things I did recently(although I did not skip meal literally). I have been on Blogspot for 7 months and now I have additionally my dot com blog. Blogging is a lot better since then. I was so limited with Blogspot and I did not even realize it. My plan is to only start blogs on a paid domain.

  8. in order to actually get your $460 or more per year you should focus in buying “keyword” domains. Example if you could buy milk.com, you would get thousand of natural hit buy people looking for milk or related products. Then you can use a PPC provider and make hundred of $. Unfortunately names like milk.com are impossible to find and if you try to buy it from somebody else owning the domain, they will most probably charge you thousand of $ or more…On the other hand, if you buy a domain like YourFreshMilk.com, which is most probably still available, you won’t get any natural traffic and you will have to promote your website and in general the promotion will cost you more or less as much as you can get in revenue…

    Good Luck!

  9. Buy 1 good domain, design 1 good site with potential for earning income from sources other than adsense. Spend a long time learning seo and promote it. You can earn online, not sure that buying domain names is the best way though!

  10. This is great advice, and I’ve been trying to do the same thing. However, I’ve been focused on buying expired domains rather than new ones, the older the better. Have you had any experience with those?

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