Is it still possible to make money buying and selling domain names?

For answers I turned to James Iles, who started flipping domains when he was a teenager. Later, he became a blogger in the community. Since last December, James has taken on the role of Global Domain Investing Community Manager for GoDaddy.

In this episode, James shares insights on;

• the critical step you need to take prior to putting any money down to buy domains as an investment,
• how to determine if a particular one is a good choice,
• what it might be worth,
• as well as costs involved,
• what you can expect to earn working at it a couple of hours a day, and
• a fun fact about the .ai extension.

What you'll hear:

01:45 What a Domain Investment Community Manager does

03:05 James started domain investing as a side hustle

03:29 Can you make money at it today?

04:35 Start with a good education in domain investing, for example GoDaddy's Domain Academy

05:30 How do you tell if a domain name is a good investment?

07:22 NameBio offers a great database of domain sales that gets updated every day (upwards of $2.3 billion in sales in the database)

08:14 GoDaddy's tool that uses its back data is called GoValue

10:27 The biggest mistake domain investors make

11:23 One of James's biggest investing mistakes

12:05 Some of the metrics to look for

12:57 Fees for buying and selling

13:50 Afternic is GoDaddy's aftermarket sales portal

14:32 James discusses what he sees for side hustle revenue potential

16:43 The .ai extension

18:05 Consider off-line learning resources like in-person conferences, ie NamesCon

20:08 James's regret in selling staycool dot com

22:03 Low barrier to entry

22:32 Reach out to James through email or Twitter

23:06 His best tip

24:42 Put in the time to learn about the industry - take James up on his offer!

25:13 Before buying what you think is an extremely valuable domain…check the spelling!!!

Connect with James:

Email, jiles at godaddy dot com

https://twitter.com/jamesiles

Connect with Joan:

https://www.instagram.com/joanposivy/

https://www.facebook.com/posivy/

https://www.joanposivy.com/

Be on the show!

https://www.joanposivy.com/be-our-guest.html