What is Domain Flipping?
One of the best ways to make money online is buying something at a low price and selling at a higher price. Similar to real estate or any other investment, the goal of selling domains is to get it low and sell it high.It is especially good because you don’t have to deal with inventory. I don’t join any company, direct selling or any other business where I have to deal with inventory. That’s just my preference.
Definition of Domain
For the purpose of internet use, a domain is defined as an identification string that defines a dominion of organizational autonomy, authority or control within the Internet. You can’t have a website without a domain name. Like a house or business address that tells people where you live, a domain helps customers drive directly to your website. The registration of these domain names is usually administered by domain name registrars who sell their services to the public. The use of domain names in commerce may subject them to trademark law. This is a quick generic definition that serves its purpose for this post.
How do you buy a domain name?
There are many platforms to buy domain names and also some that offer free domain names. The free ones will also include the name of the hosting site. When building a website, you first must make sure that the domain name is available. Next, it’s time to register that domain name. When you register a domain name you can sign up for as little as one year, or go up to ten years. I have used GoDaddy.com and Google Domains.
Finding Domains to Buy and Sell
Finding names that offer a real value is no easy task. Think of strategies that the domains you buy would be a valuable asset to the buyer. Portrait someone who would profit from buying the domain in a space you are very familiar with. If this was you and someone was trying to sell you this name, would it be useful for you to own? Be honest. If so, why? If not, why? Use those answers to refine your search for names. Searching for available domain names is very time-consuming, but can be a big payoff.
I’ve seen domain names bought for $12 go for $1000. Not a bad profit at all! Finding good domain names that aren’t taken starts with researching keywords. Enrich your web content and ad copy with the best keywords, and increase your web presence! Try a free search below.
A key strategy that I use is, I only buy domain names that I believe I can sell for a 100% profit. So, if I spend $60 I want to make at the minimum $120. Just like the stock market, there are no guarantees. I set my goal at 100% but sometimes I’ve made no profit. Also like stocks you have to figure out if you want to hold out for a higher amount or sell when you see a price you like right away.
Usually, people with low cash flow sell quicker, and the ones with fatter wallets/purses can hold out for more cash. Domain flipping is not a get rich quick business. You have to put in the work, which means time and energy. Once you buy a domain it is considered hot property and you need to aggressively pursue out buyers. It helps if you have some background in marketing, research, and negotiating skills.
There are so many domain marketplace websites you can buy and sell domain names. A few are:
I use GoDaddy because I think it has the biggest audience, and I’m into the quick flip.
After your keyword research, you will want to buy the domain name. A free platform that I use is SiteRubix.com.
8 Steps to Domain Flipping
1. Set a budget.
2. Pick a lucrative niche (It’s not about what you like! It’s about what others like and what sells!)
3. Use a powerful search engine to find money making keywords. (I use Jaaxy.)
4. Find domain names pertinent to your keywords.
5. Buy new domains (previously used ones can also be profitable)
6. Use multiple sales tactics.
7. Never sell right away (it may be better to hold out for more money).
8. Be cautious of the risk involved ( like the stock market or house flipping).
This is a quick overview of another example of ways to make money from home. If you are going to try your hand at domain flipping, I suggest you start with a small budget until you gain some experience. If there is more information that you would like, or info that you would like to share about your experience, leave me a comment below.
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