How To Make Money Online Flipping Domain Names
Posted Under: How To Make Money Online
Learning how to make money online flipping domain names is not that difficult and can be extremely profitable if you have a good imagination.
Flipping domain names is simply the process of purchasing a domain name and then selling it to someone who wants it for their new website, at a profit.
In certain circumstances, flipping domain names can be extremely profitable however, like any other business, there must be a demand for the domain name you are trying to flip.
Domain names are only worth what you can get someone to pay for them. And the only way to find out what a domain name is really worth is to put it up for sale.
The best way to do that is to find a site like NamePros that buys, sells and entertains discussion on domain names.
Websites like godaddy.com and sedo.com are also great places for buying domains. Sedo in particular is the “eBay” for domain name buying and selling.
Two strategies are commonly used for flipping domain names.
- The first is simply to purchase a potentially valuable domain name and then reselling it without developing it in any way.
- The second is to purchase a domain name, build a website around it, monetize and market the website to increase it’s appeal before flipping it for a profit.
Anyone who has some web development, copy writing and search engine optimization skills who is willing to devote the time and effort required to monetize the domain name and develop the site, will significantly increase their profit potential flipping an “improved” domain.
People will obviously pay a premium for a domain that is “up and running”.
If you are just learning how to make money online flipping domain names, these tips will help you along.
- First, select a niche market that you are comfortable in and know something about.
Your success ratio will dramatically improve if you are already an expert in the niche market of the domain name you are interested in purchasing for a potential flip.
You will have a superior position over your competitors and a much greater chance of purchasing good domain deals if you have some intimate knowledge of your market that your competitors do not have.
Everyone has a passion, a hobby or some skill set that will give them an edge over their competition. It’s important that you take advantage of this when looking for domains.
- Second, get yourself some good research tools to help you speed up your domain name research.
You can get some great domain names by using some of the new cutting edge domain name research tools that are now available online.
These tools can find keyword domain names, auction domain names with page rank, dictionary domain names, .edu domains, domains with type in traffic, etc.
A Google search for “domain name research tools” will hook you up with a ton of sites that will help your research on flipping domain names.
Bust A Name, Domain Tools, Domain Search.Com and other free or paid sites like these, will provide you with tools to help you find good deals on available domains for you to resell.
Flipping domain names can make you a lot of money if you are willing to put in the time and do the necessary research to find resale-able domains.
You can make even more money flipping domain names associated with ongoing, monetized websites.
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