There’s a new domain investing newsletter in town called Domain Smoke, if you haven’t heard of them, you should check them out. So many domain investors have been talking about the newsletter I decided to check it out and at the same time I thought, why not run a fun little competition while we’re at it.
When friends of mine first hear that I invest in domain names they usually ask, “is that really a thing?” and then as they hear more say something like, “well it’s probably too late for me to get started.” And I honestly usually tell my friends that it’s a pretty big time commitment and they’re probably going to lose money, so stay away. More names for the rest of us right 🙂
But in all seriousness, I don’t think domain investing is for everyone. It requires taking serious financial risk and in many cases, losing quite a bit of money to learn some painful (but valuable) lessons. When I started in the industry I think I lost something in the $25,000 range before I started to make some money. Today, I’m investing only with profits and like so many other domain investors, domains have changed my life.
What most people don’t realize is that there are great buying opportunities every single day, and I think Domain Smoke does a great job of highlighting some really solid options. So I thought, why not run a little friendly domain flipping competition? I can’t remember a competition like this being run in the past so I don’t really have much to base it on, but here’s the plan:
🚀 Domain Flipping Competition 🚀
Start date: August 1st, 2020
Duration: 3 months
Investment cap: $500
The winner of the competition will be the person who is able to generate the largest profit from their investments. You need to have purchased domains listed in the Domain Smoke newsletter between August 1st and October 30th. That being said, since you’re probably not going to flip a domain in a day, chances are you’ll be buying names mostly in August and September, or at least that’s my plan.
There are a lot of different strategies that could be used in this competition and I think it will be fun to all share what we did, what worked and what didn’t when it ends.
As for a prize, you get the glory of knowing you won what might just be the first domain flipping competition in history. If you know of another let me know and if you know of two more, let me know that! I don’t want to claim to be the first only to find out I’m the 52nd…but if that is the case then you’ll get the glory of being the 53rd winner of a domain flipping competition 🤷♂️
I decided to start the competition in two weeks so there’s time for people to ask questions and to finalize participants. If you want to participate, shoot me an email – ml(at)hey.com, and I’ll add you to the list.
Note: this is not sponsored by Domain Smoke, in fact, they have no idea I’m doing this…well now they do, but just because they’re reading this post!