Don’t rush into domaining and as you will waste a lot of money on junk domains. Domaining is an amazing industry but is like gambling and has addiction. Most newbie domainers will start registering hundreds of domains even before they understand domain quality. My advice is don’t do it, save your money and take the time to understand domaining.
I’ve done it myself and I know the feeling and the urge to register every single domain that you think is great. While the price may seem to be cheap, once you start registering tens or hundreds of domains, it adds up very quickly.
Yes, most businesses have some initial cost and I suppose learning is the cost of domaining. But I feel that it’s not necessary. All you have to do is wait, Yes, wait! Don’t register any more domains.
When should you start registering you ask? The answer is simple, when you can sell a domain. You will discover more and more about the domain quality when you try to sell it. And I don’t mean to just list on sedo and godaddy. You have to work hard to sell a domain but you will only be able to sell it if the domain is good.
Yes, there are many more domain tools these days, many more than we had a few years ago. In fact, you must be familiar with my tool ValueDrops.com. Actually, my initial vision of ValueDrops was that it was meant to be for newbie domainers. That is why it only focuses on 2 word .com domains for the most part, and it also does a live tracking for you so you can hand register some of them as soon as they become available. But the point is that while you can still get junk 2 word .com domain, your chances are much better with it.
However, if you are a newbie, I still encourage you to wait. A lot of great posts have been written on domain quality and how to do your research. Spend as much time as you can to go through all those articles and understand the quality before jumping in. This may save you thousands of dollars.
Then, when ready, only buy/register 5-10 domains and focus on selling those before you get any more.