So, you paste the domain into here and click on the search domains button. This will show you more information about the pending delete status domain. In this case, you have to order by June 13th and today is the 10th. So, you have three days and you just add it to your cart as if you’re just buying anything online. Just check it off and click add to cart. It’s added to your cart and they will try to get it on your behalf.
Simply put, domain flipping is the process of acquiring a domain name with a motive of selling it at a higher cost to someone else. This is very similar to flipping houses or cars, the only difference being that you can’t do much to increase the value of the asset by ‘fixing it up’ and then turning it over for a quick buck. Acquiring a valuable domain name before it is tagged with a premium price is the key to a successful domain flip. Raymond Hackney, a domain investor and consultant, successfully flipped a .website domain (his first on a new domain extension) for a decent profit. Read all about it here.
Finally, we’ll look at a bit of a different animal in the expired domains world and that’s pending delete. To do that just click on the pending delete button which is right next to the Go Daddy Auction’s button. What this does is it shows you domains that aren’t quite deleted yet. So, they’re right before they get into this deleted category in expired domains. They’re going to be deleted, so they haven’t been renewed by whoever registered them, so they’re going to get dropped.
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Here’s what you DON’T want to do: Target prospective buyers based on their perceived economic status, without any insight into the industry you’re targeting. “Lawyers seem to do well,” you think, “maybe I should start selling names to them.” So you rush out and buy a bunch of domain names you think would appeal to the law firms you’ve identified as potential buyers. Without knowledge of the space, you may not know that the American Bar Association and other industry-specific organizations set rules that govern some aspects of legal advertising. You’re not going to strike gold selling names your target buyers can’t use.
Just like a property listing, except much simpler, domain marketplaces are basically massive lists of domain names that are up for sale. The process of using them is simple. Buy a domain and park it, then list your domain on the marketplace for a price you’re willing to let it go for. Once the domain is sold, the marketplace takes a cut and then passes on the remaining funds to you.
The market-driven principles of the domain trade mean that a domain is only worth as much as the buyer is willing to pay. It is for this reason that criteria such as market potential and usability play such central roles in determining prices. Values can change at the drop of a hat. The price of a domain that was once of little interest to anyone in years past can skyrocket once, for example, a newly founded company takes interest in that same name.
That said, my recommended budget for beginners would be $500+. Using this budget you could buy a bunch of high-potential $10 domain names, expired/dropped domain names or a mix of both. It’s very important to invest only what you can afford to lose and treat this as a side hustle till you get the momentum going. As you gain experience, industry expertise and some sales under your belt, you can then consider slowly growing your business into a full-time gig.