This is my review for a product called Domains into Dollars - www.domains-into-dollars.com

N.B. - In July 2008, I posted a new review of my updated results after nearly a year of applying Domains into Dollars on this website. Please read the Domains into Dollars Review update by clicking the link to the right of this article below Recent Entries if you are interested.

It came with a solid 194 page Ebook (Profit with the Virtual Real Estate Book Today) and a number of video's that can be streamed live, or downloaded for later viewing on your computer.

I found the streaming to be slow at times, so bit the bullet and downloaded all the video's to my compute ad apart from a wierd glitch in one video where the voice goes really slow for about 20 seconds, I found the video's faultless.

Perhaps I am too cynical because of what seems like hundreds of new products being released weekly hitting my inbox (I subscribe to a lot of mailing lists!), but Domains into Dollars came to my attention from one Internet Marketer only. For that reason I almost missed out on seeing the product, and that would have been nasty.

So what is the product all about?

Simply put Phil Craig, the author seeks to show you how to become a player in the profitable world of domain parking and speculation. He shows you how to become a "Domainer".

Phil is the right person for the job, he is not an Internet Marketer, but an expert in his field, he has been actively involved as a "Domainer" for 11 years and an attorney and real estate broker for 28 years, so you could say he is a specialist in the field.

Buying and selling domain names is a huge industry, it's currently a $2 billion dollar (yes billion) and growing. Right now it's wild, wild west days. Opportunities are abundant, and most people seem to have no idea just how fast it is growing. I certainly didn't.

Just one example is a guy called Kevin Ham. Probably the most powerful dot com person you've never heard of!

He owns around 300,000 domains, and receives around $70Million per annum in revenue from them. His empire is reputed to be worth close to $300 million. All this from owning domain names!

I found it interesting how Phil equated this money backwards like this: -

$70 million is about $5.8 million per month. Divide that by 300,000 domains and it turns out each domain is generating around $19/month in revenue.

Or just $0.63c per day. So $0.63c per day (per domain) is all it takes to get there.

Do you think you can generate $0.63c per day? I certainly think it is achievable.

Phil goes on to show you in detail how money can be made in this game (and there are lots of ways).

The first way is that the smaller domainers people like you and me sell to bigger domainers, if we have a domain name that is popular, we turn around and sell it. This is called domain flipping. You buy a domain for $x and sell it to someone else for $y and make sure $y is a much bigger number than $x !

The other way is pay per click advertising. Not Google Adwords, where you pay for advertising when people click your ads, but rather where you are paid anytime someone clicks an ad on your web site (similar to adsense, but not necessarily adsense).

This is one negative I had with the book and video, as an Internet Marketer who uses Pay per click, it took me a while to realize that he wasn't talking about adwords, once I got past that I was ok.

The last way is to do what many people do now with domain names, develop them into full scale businesses.

Phil goes into extensive detail to show you how to purchase your domains, how to find traffic from day one without paying anything (no google adwords), and much more.

It turns out that a lot of people type the name of a service they are interested in directly into the address bar of a browser, instead of using the search engine, so if you can find a name that people would use, you will get free traffic.

e.g. if they wanted a limousine in dallas, they might directly type in dallaslimousine.com into the search engine to find it. If they do, it means free traffic to you. Pretty neat huh?

But the best is still to come, Phil then goes on to discuss domain tasting, where he details a legal way to "test" a new domain for web traffic for 5 days, and then getting a refund if your not happy with the results! Definitely an eye opener for me.

Why do you want traffic? Phil shows you how to monetize your web-site using specialist services who take a share of the revenue with you. This means you can be earning money in the first day you test your newly acquired domain!

He actually shows you domain names he has acquired and what the web-site looks like, and the amount of money it is earning each month. Impressive stuff. Remember this is all for testing initially, so if after the 5 days you are not happy with the result, get a refund and move onto the next domain. No cost!

This is a great model if your after passive income, but of course there is no reason why you can't outright sell your domain, and Phil goes into detail about that, showing you the best ways to attract buyers, the best web-sites to list your domains on, pitfalls to watch out for, and more.

One of the video's shows you in minute detail how a $6.99 purchase became $515 in less than 7 days. That's right one domain purchase made over $500 profit in a week. And these sort of results are happening time, and time again.

Of course all this is good, but I wondered if it would work for me. So I took the plunge and purchased a domain (using the specific research tips that Phil shows), and purchased the domain and tested it for traffic. I decided that I would test it for traffic, but also try and sell it at the same time.

My result was that I had not a single hit on the web-site itself, but that I managed to sell my $7.99 purchase for $75. Over the course of a week here are my results.

Purchased domains (total) 10 @ $ 7.99 each $79.99

Revenue in tasting period $4.21
Refunds (3 domains) $23.97

Sale of domains (6) $ 235.40
Selling costs (approx $36)

I kept one domain because it looked like it may end up showing a healthy amount of passive income. Remember I only needed it to be making $0.63c per day…

The figures turned out great for me. I very healthy profit.

I am sure if I spent more time on it, I would have got better results, but it just goes to show you that it really can work.

Phil leaves nothing out, he goes into detail to show you exactly what you need to do, how to do it, and which resources to use.

I was pleased to see that all the resources he recommended did not have affiliate links!

As an attorney, Phil gives you all the legal forms you need when selling domains to cover yourself. He evens gives you a resource to find just deleted domain names. Approximately 40,000 .com names are deleted and put back into the pool each day, this is great opportunity if your quick. I used this service to find some really nice sounding domains, including a few 4 and 5 letter hard to get domain names.

If you want to get into a niche at ground level, virtual real estate is something you should seriously consider. I think Phil has done a great job with this package, and made it very affordable.

I am at the stage now where I am going to focus on this a little more and see just what I can make out of it, I believe there is a huge opportunity there for people getting in at ground level. And being able to "test" means it's really risk free.

There is a promotion on his web-site at the moment offering $10 off, make sure you click the coupon box at the top of the screen to get the coupon.

Here is the website again Domains into Dollars - www.domains-into-dollars.com

I'd be interested in your comments, drop me a line and tell me what you think. Do you have a product you want reviewed? Drop me a line and I'll see what can be arranged, and then post a review on this blog.

Cheers

Tim