How are webistes and domain names such a good investment?
I have recently spoke wiith my financial advisor about purchasing domain names and building websites. He said since I have some extra capital to use this could be a very exiciting and lucrative venture. There are two domain names up for auction on godaddy that I am interested in one is www.fasttires.com the other is www.findyourdreamgirl.com. Fasttires is already going for ,000 and findyourdreamgirl.com is listed for ,995 my advisor thinks this is a good price to move on before it goes up it could be the next match.com. What do you guys know about these sort of investments I want to build my own web business.
This is in no way an investment. Investing indicates a reasonable potential gain while this is pure speculation and probably better termed gambling.
His advice is unbelievably stupid (probably the worst advice ever) and you need to fire him this second. He probably wears slip on shoes because he can't figure out how to tie regular ones. Ask him this question… How can I be sure that http://www.findMYdreamgirl.com, FindINGyourdreamgirl.com, findyourdreamGUYORgirl.com,www.fydg.com, etc aren't the next match.com. The value of a domain is based on traffic and it's unlikely that http://www.findyourdreamgirl.com will generate any. What is the incentive for women (read 50% of the population) to go there? This could be an adult site but with millions and millions of those sites why would yours be any better? If there isn't a bullet proof answer to that one (and just so you know in advance THERE ISN'T) then you have your answer.
I'm not quite sure what kind of business you would be trying to build is it selling tires or is it selling women? I think both markets are pretty much saturated at this point (or rightfully illegal).
I recommend that instead of doing this you throw a massive block party and show everyone what it's like to burn money in a big pile that will be a huge hit. Invite your ex advisor because he's probably very famaliar with the process of burning money (after all look at his advice).