If you are wondering how to start domaining you are probably well aware there is people making a fortune by buying and selling domain names.

The good news is you are not too late. The bad news is there are hundreds of people not making any money with domain names.

Despite what you have been told, domaining (and making money) is not easy and  it will require a lot of work before you see any profits.

Domaining for dummies: mistakes I've made

• Buying lots of domains is the most common mistake: domains are cheap and somehow addictive. You can register them at cheap domain registrars, get GoDaddy domain coupons or even go buying domains on eBay and domaining forums for a few bucks. The high perceived value of a domain makes people thinking their little nugget of rock will turn into a nugget of gold in the very near future. The truth is you can end up with a large number of domains that need to be renewed (and renewal fees must be paid).
• Buying domains in a niche you know nothing about.
• Buying domains based on emotions.

Tips to start domaining

• Rather than buying lots of domains, pick the 25 you like the most and try to resell them for a small profit. This way you can proof yourself the concept and create a strategy that works for you and your budget. It’s not quantity but quality that pays.
  
• Buy names that may provide a cash flow in the future by parking your domains or developing niche sites.
• Domaining is an speculative investment: the idea is to maximize returns. Forget about what you think or your emotions and focus on the facts.