Quick flip

[kmp]

So last week I took a gamble and hand regged a name only because it fit an end user I found very well. My plan of attack was to eventually promote this name to the end user in hopes for a possible future sale. 8 days after the reg and not even thinking about contacting the end user yet, I get an email from THEM asking if I would sell the name!!!! 2 days later and $1000 more in my pocket the deal is done. Not bad for my first sale to an end user. I guess it was worth the gamble on the hand reg. Anyone have a similar story?

KMP

 

[M.U.]

Good job. Congratulation with the sale.

The best way for a quick flip is finding an end-user before buying/regging the domain name.

Would you mind telling us a little bit more about the name? not the domain name itself if you don't want to, but more all around it.

Thanks in forward for answering.

- Which extension?
- Which business was it in?
- What type of name was it? Keyword-rich 2-words, 3-words? Brandable?
- How many Exact Local Monthly Searches in USA?
- What was the CPC $?
- How many competitors in the business?

Sorry for all the questions, but I am naturally a curious person. I hope you will take the time to answer anyway.

Best regards,

 

[kmp]

M.U

Extension - .co.uk
Business type - ecommerce
Name type - 4 letter and specific to the companies acronym
Exact local searches - under 500
Other competitors - There are competitors but this name was specific to the end users business

Thanks for the reply

 

[hugegrowth]

Nice story, anything can happen in domaining!

 

[Theo]

Quick flips carry risk. First, without waiting for a longer period you are potentially losing on a higher sale. Second, sales of domains that were held for less than 1 year plus a day carry full taxation rates e.g. 30% while those held longer than that fall into the Capital Gains and Losses category, currently at 15%. Your best investment as a domainer is the use of a CPA for all your financial matters.

 

[kmp]

sales of domains that were held for less than 1 year plus a day carry full taxation rates e.g. 30% while those held longer than that fall into the Capital Gains and Losses category, currently at 15%.

Good advise, especially for the higher value sales. Thanks for the info and reply.

 

[vital]

Once I bought a domain here at dnf for <$1k and got $6,5k offer next day

 

[StianStian is verified member.]

Quick flips carry risk. First, without waiting for a longer period you are potentially losing on a higher sale. Second, sales of domains that were held for less than 1 year plus a day carry full taxation rates e.g. 30% while those held longer than that fall into the Capital Gains and Losses category, currently at 15%. Your best investment as a domainer is the use of a CPA for all your financial matters.

Unless you're in Norway, where you pay 40-45% taxes on your profit no matter what.

 

[jasdon11]

Well done - your timing was impecable!