Ye, but you might want to make sure and wait for another person here to confirm my answer as I am unsure of myself. Better yet, why don't you e-mail the 123 reg guys because they can give you help better...
I would recommend you to start with what you have, rather than loans.
Start with a reg fee. flip it for more. buy two names, flip them and slowly increase your capital..
Frankly, many people enter into this industry but end up loosing their money. therefore I think a tight budget is always a plus point as you do not go about regging names which are not worth anything.
Just my two cents and my experience..
Reg a dozen names for reg fees is really not that expensive. The most you could lose is less than $100..
Cache where are you getting names for less than $10?..
Is a 123 reg thread which has coupons. Aside from GD,.
Has .com for $7.95 everyday and even cheaper .nets. Sounds like you are using s reseller if you are paying $10 to reg a .com..
Just don't do it. Convert another lazy asset you have. I am converting a pool table I have and don't use anymore into a sofa and/or some landscaping. I could have just put that on a CC, but why? I betcha if you look around your place, you'll find something you could put up on Craigslist or ebay that would sell for enough to pay for a couple of names..
You could also do what the youngsters and poor folks do here and work for it. Go.
And start from scratch. You can use your NP$ to register names right here at NAMEPROS!.
If you are going for a big fish, and you have your bus plan, back up plan, and other ducks in a row, then debt may be your friend. But if you are looking to just jump in, think again...
Namecheap with coupon = about $8..
Godaddy with coupon = $7.20, occasionally less..
Moniker Namepros pricing (presumes that you are buying for resale) = $6.95..
Get coupons by searching this sub-forum (Godaddy coupon is "in light of the end of GD loophole", always in the first 2 or 3 pages, Namecheap may be deeper) or Google...
I think you should save a lump sum before you start a business..
Eg working some years to save more $$$ to get involved later..
All shop/business owners behave in this way unless you born from a $$$$$$ family..
Sorry, forgot I wasn't in the .TV forum =)..
Start buying cheap domains with some Page Rank, then you can grow, well is my pesonal opinion to the learn process.....
I also recommend searching for cheap deals that you can turn around quickly, and use that to build a portfolio and gain experience. If the HostGator is really good you can always park it, and get the affiliate income although turning it around would probably be a better short term strategy..
IMHO a bank would be INSANE to loan money to an individual to buy a HostGator name/portfolio...
You could, if you were determined to take that strategy try prosper.com - A community lending site..
I would have to agree, start with names that you can afford for reg fee or up to $100. Don't go for a loan to buy expensive domains if you are just starting out in the business..
I started 1 week ago. Sold a HostGator for 60 USD recently. I would say if you intend to start domaining. It takes up alot and I mean ALOT of time and effort! The time comes into speculating the market demands and finding a name that have yet to be used and may bring in traffic. Thinking back now, I would have thought twice before coming abroad. The money made definitely isn't worth the time unless you wait for .asia to be released then reg some gd names..
Whilst I've been watching this industry for years - I've only this year started to invest (albeit on a small scale). My journey thus far - is that I've hand regged all my 100+ domains buying 10 or so every fortnight or so, spreading out my renewal periods and not tying up my cash all at once..
All my domains are centred around my research area - and that would be my advice to you - pick an area / theme you know something about or at the very least are interested in and build from there. You are then best positioned to know when to develop a domain, when to offload and sell, when to keep and what bargains you can afford to splurge out on...
Really Appreciate all your answers and suggetions, and I agree with the majority opinions, that to be succeed on this business doesn't really need large amount of $$$$, but it does need a large amount of "hard work and patience", even if we start from the small one.....
Bravo HostGator investors.....
If you need money - try borrowing on Prosper.com - it's a decent place to get reasonably cheap money...
Rather then going in debt up to your eyeballs, try finding names on TDnam or Afternic or Ebay that have good keywords, you can find some really good bargains there. Also here on Namepros, check the auctions and other threads where domainers are selling. You'll find some gems and they won't cost you an arm and a leg!.
Good luck to you...
Unless you have A LOT of money to spend on domains you'll never make it in this biz as anything beyond reselling for maybe a few k profit here and there if you're lucky...
I too am a fan of prosper. Some time ago I toyed around with starting a "group" on prosper for Domainers - never did anything with it, however..
If anyone is interested in starting a group as a borrower/lender, PM me. We'd need about 15 folks to make it worth our while..
What can you do with that one good domain? Earn a few bucks and retire?..
One really really good sale is all what is required to take your retirement....
A different sort of model, however. In no way intended to compete with DBG, but rather a different sort of "exposure" to the marketplace..
I just checked out that site, very interesting! People loaning money to other people to help them get out of debt. Good luck on your venture Allan, too bad they don't accept Canadian residents...
If you are in domaining as a business then you need to sit down and figure out a plan. If you don't have a plan you will spend too much on inventory and will eventually have to liquidate that inventory to pay reg fee's/cc bills/etc..
IMO, you should pick out a sector and try to specialize in it until you get on your feet. You can do a certain industry or ccTLD or 3char.**, LLL.**, NNN.** etc. By focusing on one or two sectors you'll know exactly what price point you want to buy/sell for..
Another thing you have to remember is not to fall in love with your domains. If you get an offer on a non premium HostGator for low $### that you paid reg/drop fee's for SELL IT!! Most newbies think that their HostGator that they reged 30 minutes ago will sell for $10k tomorrow when the truth is it is only worth what someone is willing to pay for it (unless it is a new tech/product/term)..
Good luck and we all wish you nothing but luck...
I am a group leader - but our group is small - my handle is PrivateEquity.
Check out LendingStats.com for info - you can check progress..
A word of caution, it seems the greedy people - offering loans on D grade people are getting burned (big surprise)..
I am averaging about 16% return, but it is early - and I have not had any defaults - I think 10-12% is more likely..
Best of Luck - sorry to digress so much on this thread -.
But I do it is a good place for people looking to borrow unsecured money to go - and domains still seem pretty unsecured (by most accounts)...
You can also check out.
For discount HostGator prices at many registrars including GoDaddy, NameCheap etc...
All you have to do is come up with a great original idea along the lines of one ugly HostGator or million pixel homepage, spin some publicity and when the news sites report on your scheme, wait for it's page rank to rise, then sell it or trade up and repeat over and over, each time getting closer to your goal. While you're at it make a video series of what your doing for youtube, and shoot it in high res so you can make a movie sometime later after you've written the book...
You may want to check out HostGator Capital..
I will never and ever think to retire from this business, becoz I feel i'm startin to fall in love with it....
What I want to do with that one good HostGator is to make a good start and build an empire like InternetRealEstate someday.
.... we never stop dreamin right?....
Only do what you can do....
Not to do that over your ability..
Internet business is great but tricky at the same time..
Prosper.com is nice, but personally I would think twice before offering any loan for 12-15% roi,the risk is just too big for only 12% interest...
I don't agree or disagree. I put 5k there just to test it out. I spread it out over 60 loans, so I thought it would be an interesting and passive little investment..
I certainly won't get rich on it. :-)..
As long As We Can Do Anything Positive To make That Dream becomes Reality.. then what you said is totally true... even if it's different in the end.. No one can make sure what you'll get in the future...
But we do have hope 2gether in this business....