Last year I wrote about purchasing a premium domain. The domain I bought was australiaforum.com and I paid $2,500 for the domain. The domain was initially listed at Buy Domains for over $4000. If you compare it with some of the other sales on DnJournal, I think it was a good buy. I think chinaforum.com was sold for $3,500.

I am sure there are plenty of people reading this that think I might be crazy, but the domain fits with something I want to do long-term. I initially installed Joomla on the domain with the Simpleboard component. Even with zero advertising, I got a couple of people posting (and a lot of spam). I then thought since I paid so much for the domain, I should at least spend money on buying proper forum software and decided to go with vbulletin. I am in the process of getting a custom skin made up for the site.

My inspiration to run a forum came from what people like Lee Dodd and Tyler Cruz. I have read so much how difficult it is to monetize a forum, but these guys seem to do pretty well. If the site is successful I am sure I will be able to attract advertising from migration, moving and tour companies, or I might be able to use it to promote my own business (whatever that might be).

I really wanted to buy an existing site and spent a great deal of time looking for potential sites. It is just not easy like it was a couple of years ago to buy a developed website – basically before anyone knew about Adsense. I also wanted to have a least one quality domain in my portfolio.

To kick off the site I am running a competition on the site. I can’t imagine too many people entering, so you have a good chance of winning.