Resolved Question

Could I become a millionaire by buying and selling domain names?

I am 18 years old and I'm looking for a business I could do until I turn 21, and I think that domain name buying and selling could be the answer to make a business out of what little money I have. What I'd like to know is, is it possible to become a millionaire out of doing this?

Best Answer - Chosen by Asker

Maybe if you know what you are doing. I doubt it though.

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Other Answers (2)

• Yes, but it's hard work! I actually wrote a blog post about this method of making money (see below for the link). You can make a few hundred dollars with each domain name by doing this, and it'll greatly increase your chances of making a sale. The less effort you make it look like the buyer will have to do, the better.
  
  Keep it up consistently for three years and you *could* become a millionaire. That's about $333,333 a year. You'd have to make about $28,000 a month, so if you list domain names for $200, you'd have to sell 140 each month. If you list them for $800, you'd have to sell 35 each month. You see my point... increase what you're offering and the quality of your product, you can increase the price, and decrease the amount of work you'll have to do to get that first million. :)

  Source(s):

• Sure, if you find out the name of the next big corporation or product and buy the domain before they get to it. Otherwise, probably not.