There are several things you need to remember before you get started, but as long as you know what you’re doing you can start this kind of money making idea on a shoestring budget.
The basics of domain name flipping are simple to understand. You buy a domain name and you then sell it on to someone else at a profit.
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But before you rush out and buy all the domain names you can think of, you should know that there are only certain ones that you should be looking at. It stands to reason that the domain names which have popular keywords in them will get more traffic than those which have no popular keywords in them, which is why you need to do some keyword research before you buy anything.
Think of money to begin with – this is always a safe bet. Anything to do with credit cards or making or saving money is very likely to have received a lot of traffic and will therefore potentially be worth a lot more to you.
Be ready to register your domain names when you find them by signing up with a domain name provider online. Make sure you pick one that won’t charge you a huge amount to register your domains, and it should also have a fast domain transfer facility you can use when you finally flip it over to someone else.
Now you might be thinking that you should sell it as fast as possible for a profit, but it can pay to hold off and see how popular each domain really is. If it gets plenty of footfall then you might want to take the time to build a good quality Adsense site around it to make some money from it yourself for months and years to come. Just don’t forget to renew the domain name!
But if you decide to sell it, it’s time to hit eBay. Lots of people flip domains on here and the auction format can result in getting a hefty profit on them if you’ve chosen well. You can also try listing your domains on classified ad sites all over the internet, but you’ll need to decide on a fixed price in this case.
If you decide you like this way of making money (it can result in quick profits after all) why not consider setting up your own website to sell your domains from? With the right domain name and some good content to back up your sales, you could soon have a thriving business selling something you’ll never actually see, touch or need to mail to your customers.