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Hi Jordan,
It doesn't have to be restricted to the .uk extension. So snapnames could be a very viable option for catching .coms. Also you could make it a condition that one of the members of the consortium would be someone who could catch co.uk domains/have the software for catching .co.uk names privately.
As for approaching endusers and offering them below market value "it doesn't take 20 people" I agree but you would if they came back with a higher counter that was still below market value but out of your budget.
Anyway I'd be interested if someone on here was to start a domain buying consortium but I don't have the 10k capital to start with that you're talking about Jordan, I'd enter with 1K, even if it meant I had less of a say over what domains were bought. Like I said before it's about going up the rungs of the laddder, starting low and building up, before you know it we might hit the 200k point to go into the generic keyword .com market.
I do like your point though of not just "flipping" a domain but making it in to a website first, could exponentially up the value of the domain.
Andy.
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