Newbie - Can I make money domaining and will it complement my website development?

[GPS Mapper]

Hi all-

I came across some info on domaining recently and I'm wondering about setting myself up as a reseller. I've got several blogs and am about to add domains for a few more. I'm often coming up with new ideas for domains that can be monetized.

I'm hoping to go FT soon and give up the day job. I'm about halfway there in terms of the revenue I need to do it.

Is it worth it for me to get into domaining? It would give me another potential source of revenue, thereby lessening my risk. And I could start locking in some of the domain ideas that I have and park them, hopefully monetizing the parked domains as well.

I'm aware that there is a good deal of work and a learning curve involved. I'm not looking for a get rich quick scheme. I'm in this for the long run.

I hope there aren't a lot of stupid questions in this. I don't really have the jargon down yet.

Thanks to anyone taking the time to answer.

[OpenForSale.com]

I feel that domain names are an exciting way to make money online.
There are many people who do make money with domain names. But there are many more who 'try' but fail.

Firstly, learn all you can. These and other domain forums are great resources.
Secondly, don't go on a domain buying spree. A lot of domainers make this mistake when they start and suddenly find themselves with loads of worthless names.

[kohashi]

How big is your budget? If you're going for fresh regs try a few, see if you can actually find some that get traffic and turn into $$$ on PPC. Don't quit your day job for domaining until you've actually seen worthwhile results.

[GPS Mapper]

How big is your budget? If you're going for fresh regs try a few, see if you can actually find some that get traffic and turn into $$$ on PPC. Don't quit your day job for domaining until you've actually seen worthwhile results.

I would probably start with a block of 100 domains. One thing that I'll need to learn is how to generate traffic for a parked domain. Everything I've done so far is a blog, which are relatively easy to get traffic to, but time consuming to maintain.

[bobby9101]

The problem is, Yes a domain can be monetized, but it needs to be developed.
If you are looking for parking revenue or selling the domain, it needs to be generic or in some way natural traffic generating (typos, expired domain, pagerank domains, generic words (sex.com))

[bigbluesky2006]

It's definately not easy to make money from domains but it can be done. Like the previous post said, don't go on a buying spree.

Do your research and only buy when you are sure you're going to get a return.

A lot of people (including me) have tried to make money from domains and ended up with domains that are practically worthless.

Watch out for deleted and expiring domains as you can sometimes get a bargain. :)

[GPS Mapper]

Thanks everyone. Keep the tips coming, please. Everybody that has replied has given helpful info. I really appreciate it. I have a lot to learn.