The third option is the one that's the most time consuming but also has its benefits. It's like having a successful restaurant and buying another restaurant and operating them simultaneously. They're not the exact same restaurant, but both are popular in their own right and make you money. The same goes for Option #3. You could update the content on the old domain and sell the same products that you're selling on your current site. If you can get both sites to rank alongside each other in the SERPs, you're increasing your conversion chances and sales potential.
The easiest and least time consuming option is to 301 redirect the old domain to your existing site. This tactic obviously works best if both sites are in the same sector and are targeting the same keywords; otherwise, if you have a pet supply site and you buy an old Texas Hold 'Em poker site, a redirect probably might raise some eyebrows among the search engines. If, however, your site is brandnamepets.com and you buy onlinepetsupply.com and 301 redirect the domain over, you're inheriting a lot of topical and appropriate links.

Hi Kulwant, these are great tips as usual. I particularly like the way to tell us to check the google pagerank in case the domain has been banned – that could lower the usefulness of the domain quite a bit. One thing though, don’t you think that buying domains is sometimes immoral? Like sometimes you accidentally buy a domain of somebody elses website who forgot to renew.
Since the Buyer pays Escrow.com and not the Seller, Escrow.com can withhold payment until we're satisfied the domain name has been transferred by the Seller. One of the ways Escrow.com does this is by checking the WHOIS database of the appropriate Registrar to make certain it properly reflects the new Buyer's name as the domain name Registrant. Once this has been verified, Escrow.com releases payment to the Seller.
Premium Domains are domains that have already been registered by someone else but are now being resold for a premium rate. This means anyone can buy premium domains as they are being sold on the open market. At 123 Reg, we have a variety of fantastic premium domains for sale that you can now register. Buying a Premium Domain is the best way to secure popular domains that you would otherwise be unable to register. This means you can finally buy domains that you have had your eye on for a while but have previously not been able to as someone else has already registered them.

The truth is that you require at least one year’s time to get around only the basics of the domain flipping business, leave alone making huge money from it. During this time, you’ll make several mistakes, buy useless domain names, lose out prospective deals and much more. Domain flipping is far from any get rich quick method. If overnight results are what you’re after, domain investing may not be your piece of cake. This business involves a real and steep learning curve which many people find difficult to climb.
In theory, you could technically acquire a domain for $10,000 and be able to sell it for $100,000. You could also acquire a domain for $10 and be able to sell it for $100,000, $10,000… or $100, you get the picture. Because of this, it’s hard to recommend a perfect starting budget because your strategy, experience, and the pace at which you learn will hugely affect your buying and selling decisions.
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