There are many places and ways you can purchase domain names. You can purchase unregistered ones through sites like GoDaddy. There are forums where people will gladly try to sell you their domain name (usually though the domains being sold in forums are either crap or the asking price is so high it does not allow you any room to flip the domain). And then there is my favorite way of obtaining domain names, through an online auction at Namejet. Let’s first talk about Namejet and then we’ll talk about how I personally ring the register by flipping domains.
The domain name industry is quite similar to the real estate industry in a lot of aspects. There are end users, brokers, consultants and domain flippers or “domainers”. Domain flipping works similarly to buying a house, renovating it (or even sometimes just sitting on it) and then selling it again at a higher price point. The gist of it is: you’re purchasing a domain name and betting it’s worth (or will be worth) more than you paid for it. If you’re right, you get a nice paycheck and move on. Those who make a living out of this just rinse, repeat, and scale.