How to Not Make Money From Domain Names
Aside from the obvious way of not redirecting them to a site that has some sort of advertising where you get a piece of the action there’s also another way to make sure you don’t make money from domain names.
It’s called “Forgetting to renew your domain names!”
That’s right, I had a domain name that was pulling in $5-$10 a month, clearly paying for it’s renewal fee and more importantly paying off the money that I had initially invested in the domain name when I bought it from a third party. And I had put off those emails from GoDaddy reminding me that I needed to directly renew this domain because it wasn’t able to be auto renewed.
Then I went to check on the domain after noticing the expiration date had passed and it wasn’t there. At first I could have swore I tried to renew the domain name, but I guess there was no such luck and I somehow let it slip through the cracks. I only ended up making back about 50% of what I had initially invested. Not a very good business move.
I’ll keep checking to see if I can blame it on GoDaddy but I don’t think I’ll be able to.
If you want to learn how to make money buying and selling domain names check out my 5 part series on domain located at: How to make money buying and selling domain names.
Comments
Comment from Vern
Time: May 16, 2007, 2:42 am
I just read your “about” page. You’re book worthy. Seriously, if you got it in you - give it a shot. At least an e-book. Thanks for sharing all that stuff man… wow.
Comment from Erik
Time: May 16, 2007, 8:13 am
Hey Vern!
Yeah, those emails get annoying and definitely get filed in my brain as a quick delete action item, or I should say they used to. Now I definitely look before deleting. It’s annoying the more domains you have but at least I can make sure this won’t happen again.
As for you second comment. Thanks! Not sure if I’m book worthy quite yet but it’s good to know I’d have one guy reading. 
Thanks for all the encouragement, it helps a lot.
Aloha,
Erik
Trackback from Desty Online
Time: July 3, 2007, 4:04 am
Desty’s Gold Starred Articles June 12, 2007…
Real World Businesses and the Make Money SCAM! from Net Business Blog by Adie Cooke
A great start for us in this cautionary tale! Adie give advice on what and why you should avoid in the Internet Marketing biz and what really takes place for businesses…
Comment from Michael Samuel
Time: September 8, 2007, 9:29 am
I could successfully buy 3 domains each for $9 and I sold each of them for $1000. Domain names is the easiest business model on the internet world.
Comment from frediver
Time: September 16, 2007, 12:49 am
Michael, that might work for a year more or so similar to early real-estate markets. But right now domain market is getting filled up..
—
How inappropriate to call this planet ‘Earth’, when it is
clearly ‘Ocean’…. Domain Name Ideas http://www.cozylagoon.com
Comment from Vern
Time: May 16, 2007, 2:37 am
HI Erik, Yep, those things happen! When you don’t WANT to renew the domain those emails are SO annoying. You can’t mark them as spam since you’d likely kill notifications from a domain you really wanted to keep. My problem is I fly through email addresses like Japanese fly to Hawaii. I forget to switch them over at godaddy and - poof. Gone. So, I feel ya. I’ve been reading your feed… Aloha!