what to do with $10,000 sitting in your bank account waiting to be put to good use?

[mike031]

What should you do with that $10,000 sitting in your bank account waiting to be put to good use?

The $10k is just an example, but yea... What is the best way to spend lets say $10k on domains and development this days.... What does it get you? It all really depends whether you are thinking long term which is a year or two at minimum or whether you wanna be in and out fast which means short term and anything less than one year. Well right off bat I will tell you that buying just one or two good generic domains for development isn't the best option. Now of course it is the "safe" and a pretty much "guaranteed" way to invest your money wisely but I do not want to write about this type of scenario as developing just one or two domains is quite boring and isn't what I do or what the site is all about. Focusing on just a handful of sites has it's advantages but the opportunities are very limited at the end of the day and I don't like all my eggs in one basket and diversification is more important and often than not it will take you literally at least a year if not multiple years to get your money back and roll in a profit if you do get lucky and do everything right with those one or two generic domains... It adds lots of pressure and other stuff so over time it could become a real drag. I am not comfortable waiting so long... The internet is a crazy and weird place and things change quiet often... Could be very different tomorrow for the better or worse and you never know....But that is just me.What is the smart way to spend the $10k? Well, it depends on a couple of things.. Lets say if you are a beginner and do not know much about development --- you should probably buy an established network of websites and play around with it first before you do anything else on your own.. Learn how things work and so on. Now if you have been developing domains for a while and know more or less how to build websites and make money with them you should buy enough good domains that you are comfortable with developing.

You can read the full write up at http://www.wannadevelop.com/articles/

[fab]

Is this your article Mike?

[mike031]

Is this your article Mike?

guilty

[stewmath]

unfortunatly in my case is more like how to pay off that minus $10,000 not sitting in the bank account

[Carter]

Take the $10,000 and invest in domains.

[chillking]

Invest in a very brandable .com that you know is in demand now and you are confident it will be in evan bigger demand in the future , if your not sure dont buy it ,its clearly gotto look like a winner other wise you could be waysting your cash .

[Rockefeller]

unfortunatly in my case is more like how to pay off that minus $10,000 not sitting in the bank account

That's the story with many Americans these days...if you have 10k in your bank account hold onto it!

[nameadvertising.com]

This is poor mans mentality - Holding on to what you have.

Take some risks. If everything you want will occur as planned - Not happeneing.

Take educated risks and chart new frontiers. Simply following other peoples model of success will not necessarily pan out the same for you.

Simply invetsing in what other people in the crowd values will not cut it for you. Create value and let others follow your lead. No wonder, anything other than a LLL or NNN is just thrash in here.

My opinion is not absolute. Just a forum for discussion.

For $10k, I'd invest all of it in buying 300 carefully chosen names for the next 5 years paid outright.

There is no way you will lose.

[dodo1]

That's the story with many Americans these days...if you have 10k in your bank account hold onto it!

If $10k is all you have, hold onto it. But if it is $10k you can spare, I think now is a perfect time to invest. Many people lost a big part of their fortune this year, they had to sell their stocks, they are forced to buy less stuff they would have bought if it was early 2007.

Stocks are trading at a low, even those of companies that are well-funded and managed. I'm not so sure about domains because many buyers have left the market looking for other investments. So, if you want to buy domains in today's market, it is more important than ever before to concentrate on quality and nothing but quality. Parking revenue is likely to continue its decline, registration fees, on the other hand, will continue to rise, and the domain reseller market has taken a hit. The quantity/parking approach to domaining is the wrong way to go in the future. But good domains are still difficult to find. Domains are also not as liquid as many other investments, which is a strong negative argument, in my opinion.

After all, I currently strongly prefer investments outside the domain industry. I was lucky enough to save money during better times, so that I would be in a position to invest in an economic downturn.

Still, today's markets are too risky to invest if you cannot spare the money. That is, if you could need the money in the next 12-24 months, don't spend it now.

This is poor mans mentality - Holding on to what you have.

Take some risks.

(...)

For $10k, I'd invest all of it in buying 300 carefully chosen names for the next 5 years paid outright.

There is no way you will lose.

It is easy to say such things if you are not a poor man. But I can imagine many people have become poor (or lost their jobs and much of their possessions) over the past 12 months, especially in the United States.

By the way, there is a way you can lose. By buying 300 bad domains you cannot sell, you have lost everything. $10K is not much at all if you want to acquire quality domains. Therefore, to buy 300 domains with a maximum budget of $10,000 you will have to register available domains that you hope will pay off in the future. But there is no guarantee and markets change quickly.

[nameadvertising.com]

It is easy to say such things if you are not a poor man. But I can imagine many people have become poor (or lost their jobs and much of their possessions) over the past 12 months, especially in the United States.

Not true. Yesterday, I had $0.55 cash in the bank and $1 in my pocket. But, boy do I feel rich? I made over $100k in sales last 12 months and reinvested much of it in domain names and lost the rest in the stock market. I went homeless in the streets of New York and slept in the subways for 8 months to save my domain names. And I will take these risks again.

My friend bought me some groceries. I am not poor. But, I spend every available penny on my names. I have sacrificed more than anyone I know for my business, so in the next year or two, I will never have to worry about $$$.

People want to be Millionaires, but they seldom know what it takes to make sacrifices or take acceptable risks to get there.

NOTE : By the way, I emphasized - 300 carefully chosen names. How can they be bad? Unless you choose 300 carefully chosen bad names. Now come on, we are intelligent people. Are we not?

[Rockefeller]

I agree that in order to make money, you have to take risks...but they have to be calculated risks...