Work from Home – Me, How Dare You Entertain that Thought!
I’ve written about other people making money doing work from home. Some people do well, others, well not so good. For me I’ve done lots of projects around the house, but not so much as far as making money.
Most of the things I’ve done lately are for the long term and usually don’t show profits over a short period of time. Other things, well I’ve been stopped in my tracks because my wife doesn’t agree with whatever it is I want to do.
Interruptions cause Major Problems getting much Accomplished
Although I haven’t made a lot of money by my standards, sometimes a little is better than none. Well I have definitely made a little, over and over again. That’s been since about 2004, maybe before.In my case I have hardly any free time. So what I can do is very limited due to all the interruptions here at home.
Unfortunately most of the things I want to do as far as making money (online) are complicated.
I try to find uncomplicated, simple things I can do online that have good money potential. But it often seems like a very elusive task.
With so many interruptions it makes it essentially impossible to get much accomplished.
That, with trying to maintain all my websites, takes up any spare time I might have.
Be that as it may, there is one way I have made money during all those years. It hasn’t taken much effort.
On the other hand I haven’t made a killing from it either. But the possibility of a really good payday always looms in the background. I feel confident that I could do very well if I had more quality time to spend on this one thing.
The One Way I’ve made Money from Home over the Years
What am I talking about? That’s investing in and selling domain names. I don’t do much as far as that is concerned. Mostly create small image ads and put them on my websites. However, most of my websites are no longer up. I have been taking them down over the past five or so years.Let me back up a bit. Way back in early 2004 I got interested in domains. Those are the addresses or names of websites.
For example, this website is located at http://yolky.com/. That’s the website address. Yolky.com is the domain name.
Yolky.com would be what a domain investor would buy or sell. If no one had that name, then a person could just register it for a small registration fee. That could be generally under $8 back in those days.
They are somewhat higher now to register. Sometimes, however, you see special deals some registrars offer occasionally for a dollar or two. Sometimes free, if you signup for their web hosting plan.
I figured since a website could have only one domain name that would eventually cause a scarcity in the better domain names.Most people or companies would want the best domain name they could get or afford.
I assumed people investing in domains would try to get good domains they could sell for a profit. I wanted to be a part of that.
Around that time or maybe a bit later, one of the internet marketing gurus wrote how he sold a domain for $1,000.
He thought that was a great price. Obviously he had paid much less than that.
Unfortunately a week or so later he learned of bad news.
That domain he had just sold for $1,000 was resold just a week later for $1,000,000. Of course he was heartbroken. I’m sure he learned to value domains after that. That same lesson of valuing domains now applies to me after just being critiqued on such in my domain class.
Maybe this domain thing could be a real business?
That got me thinking. Maybe this domain thing could be a real business. Almost certainly the person that sold that domain for $1,000,000 knew something the original person didn’t know. That knowledge earned him a lifetime profit in one week!
Back to my websites. Just a couple dozen websites remained online of about 70 or more websites I had.I don’t promote my websites. So the prospect of selling any single domain is extremely low. To compensate for that, I use a domain name broker to promote a few brandable domains.
Mostly they display my domain names along with a logo, on their website. They promote their website so they get considerable traffic going to it. They can negotiate the price of a domain listed with them within a small range to try to get the best price.
However, their commission for selling a domain is very high (as far as I am concerned). I’ve included images of three of the domains I have sold through them.
Although the money I made through them is relatively low, it’s still money I didn’t have to work hard for. Plus it’s almost all profit. However, I recently found out I could have probably made more money with just a bit more effort.
I’m taking a class on domain investing. I see where I went wrong or rather left money on the table by not doing research. That’s research on the potential value of a domain.
Not only that, I now use a new service, EFTY.com to display my domains for sale. I pay no commission to use their service.
Other Ways my Domains have Sold
Some of my other domains have been sold through my registrar automatically. I just receive a notice when one is sold and a check follows. Other domains I have sold on my own to people interested in one of my names.We usually correspond by email and use PayPal or a bank transfer into my bank account. There’s very little work involved, if any.
In one instance a person in Norway was interested in one of my domain names. That domain name had been used on a dating related website for years. I had taken down that dating site about six months before and the domain was sitting at my registrar. We ended up corresponding for several months.
He had a good use planned for the name for an app he wanted to create. I ended up selling him the domain a month or two later for several thousand dollars. That was a name I had made up by adding a prefix to a common word.
Think hard. How many businesses can you think of where you can easily sell something to a person thousands of miles away? Not a lot. If the internet wasn’t around it would be a lot less. It’s arranged by corresponding with them through email. I’ve sold domains to people in Europe and China among other places, from the comfort of my home.
It seems Too Little Money for Me to Consider
I might hear a comment like “It seems like too little money for me.” That might be, depending on your situation. But you don’t know the whole story. There can be big money in the domaining business. It depends on your goals and how you want to work the business.
If you look at the image above you’ll see I made about $2,200 one year and $5,000 the next year. That’s not a lot of money. However, it’s not the only money I’ve made selling domains. It doesn’t count money I’ve made in other online ventures either, such as affiliate commissions for some products.
Aside from any money I’ve made doing this online stuff, I think investing or flipping domains is a great part-time business. If you’re in a country like the Philippines I’m sure a few thousand dollars a year extra would mean a lot to you. Same if you live in India.
If you look at investments you can easily see that making hundreds of percent profits is a lot better than most other investments. Some people make this and a lot more with domains. Even I sometimes make way over 1000 percent profit selling a domain.
So don’t let these low figures I show you discourage you. Just think, in my case, I paid $8 for a domain and sold it two years later for $2500. That’s a huge percentage gain. low cost, big profit. That’s an especially good situation to be in.
I’m hoping some of my relatives in the Philippines read this article and think about this. Smart domain investing could potentially change their life. However, investing in domains can be done anywhere as long as there is access to the internet.
The Business of a Domain Investor
It is an almost unknown business to most people, if you wanted to make it a business. Some people do. I don’t, but could if I really wanted to. Some people who specialize in buying and selling domains make huge profits.From my experience many people could do this and make a decent living or better. It does, however, take lots of networking and spending money on domains that may never sell. In addition, you usually need to hold domains many years for them to appreciate much in value.
Keeping such domains requires a large cash outlay since you have to renew domains each year. Personally I pay about $1500 every year to renew my domains.
Very few, if any sell in any single year since I don’t promote them. One day I might actively promote them.
Some domain investors have a lot of domains, for example 5000, 10,000, even 20,000 domains or more. Yes you read that right. Imagine having to come with money every year to renew those names. You’d have to sell a lot of domains just to cover that.
But I’ll bet those domainers with huge numbers of domains in their portfolio sell just a few high priced domains to cover renewal costs. Sounds like a good position to be in, assuming you know how to value domains accurately.
It generally costs about $10 yr. to renew a .com domain. If you have hundreds or more you can sometimes get a small discount on the renewal fees. Some of the newer non-dotcom names cost a lot more to renew.
I recommend training if you want to be a Domain Investor
If being a domain investor appeals to you I suggest you first learn about the business. That’s before you do anything else, especially buying domains. Here is some highly recommended training in case domains interest you.
Go to DNAcademy. The information you learn there will not only help you make money (if you implement what they teach you). The training will save you money buy being a smart, informed investor.
I’ve taken it myself. Its training you’ll need that can save you time and money investing in domains. It also tells you how to invest in domain names with very little money. That’s essentially what I’m doing.
But I’m not doing it the optimum way so it cost me a lot more than it could. Nevertheless being a domain investor is one way to work from home and make money. Heck, it’s amazing the uses for a domain name. That’s more opportunities for you to make money.
A Pleasant Surprise and I didn’t have to Work for it
You could have a diamond in the rough hidden among your domains. Take this example of mine. I once had a small bird site up for a few years. It was actually a temporary site just to have a site on the domain. I eventually took it down since I didn’t have time to maintain it.
I liked the name and even had it as my license plate on my car for a few years. My sister had a mousepad made with my domain name on it.
A few years later I decided to put the domain up for sale.
I got a few offers for it, but my price was apparently too high. Or possibly someone was just trying to find out how much I’d sell it for since I didn’t have a price listed.
Anyone want to Make Money with Gold?
I have another domain name I like. I used to have a site on it about gold, maybe ten years ago. I’ve toyed with using the domain name myself to set up an eCommerce site selling gold products.The word aria means melody. Gold melody sounds pretty good to me. The domain is Goldaria.com.
Anyone want to go partners with me operating an eCommerce store selling high priced gold accessories or jewelry? We can set up an Amazon FBA store and/or Shopify store. I think good money can be made by doing such. Any partner has to be a working partner since I don’t have any free time at present.
Who knows, maybe one day I’ll get one or two really valuable domains? Then sell them for a big profit. Alternatively I can develop Goldaria.com.
Maybe I could sell gold bars or other gold items for big money. Then I can buy my Tesla by paying cash.
Anyone can do this to Make Money Online
Finishing up here I decided not to make this already long article much longer. So I’ll just say the most obvious way to work from home is to have a blog. That’s what this site is. It’s just a blog mostly telling of my experiences.
I’ve had a lot of experiences and maybe you too. Notice the ads for my domains. If someone buys one I’ll make some money. There are other ads too. Each ad has the potential to make some money. Could be a little or a lot of money depending on what’s being advertised.
The way to make more money with some blogs or blog articles specifically, is to send PAID traffic to the blog article. That is not as easy as it sounds. It could take lots of trial and error in the process. Need I say more? Paid traffic is in a separate category by itself. I cannot get into that here.
But I will say it is so important I spent mucho dinero learning how to get customers using paid traffic. I need a little more knowledge and have to spend money to run some trial add campaigns and I’m on my way.
That’s it. More on blogs in another article, or post as some call it.
Do you have any ideas of how to make money working from home?