Those trading domains for commercial purposes are generally on the prowl for lucrative domain endings. There are essentially two different ways traders go about making money off of domain names. One method entails purchasing already established names for a low price and selling them for a profit later once their value has increased. Another strategy involves buying and registering a domain that is thought to possess a high sales potential. Many domain traders use backorder services. These services automatically register a domain when one becomes available or is deleted (what are known as expired domains).
Once you’ve settled on some domain name ideas, you can head over to a bulk domain search tool such as DynaDot’s to mass check all the names against different TLDs. When you’ve found one (or a few) good candidates, you can simply go ahead and register them for approximately $10 each. The next step would then be to market them. Then finally, it’s a waiting game.
Everybody going to start using old domains should also know how to get them, I'm going to post soon article about it on seomoz as there are several ways starting from online rankings and lists up to dedicated seo tools that you can run on your computer and get precise and actual data on demand for any domains lists. Anybody intersting in such tools please visit our website: http://en.exdomain.eu/
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.
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