One of the easiest ways to make money online is by buying something for a low price and selling it for a higher price. It is even better when you don’t need to pickup or ship a product. Today I’m going to talk about how to make money online by flipping domain names and how I personally have made tens of thousands of dollars in the past year doing this.
There is a misconception that good ‘.COM’ domain names are hard to find and so they are more expensive to buy. But once again, this statement holds no water. You can easily check out the ‘.COM’ domain names that are on sale at highly affordable prices. However, the only downside to flipping ‘.COM’ domain names is that you will have to discover them at different places like Flippa.com or private seller portfolios.
Park the domain with a domain parking service. Since you may not have content to put on the site, a parking service puts up a dummy page with ads. When people visit and click on the ads, that's money for you. This method works best with popular keyword domains that get lots of traffic. In most cases, you will not have control over what ads appear on your domains.
If you buy keyword specific domains, you're really buying the type in traffic. I use the URL builder and redirect through that URL so you can see how much traffic your getting from the keyword domain. There seems to be no rythme or reason to what keyword domains deliver traffic and what don't. By tracking traffic with the Google URL builder you get a feel for what names are giving you traffic and which are not. ie. the plural, the singular, two words, three words, the possessive, etc.
I recommend Go Daddy premium and Afternic. Once you get it listed at those two places then do a redirect so that anyone who types the URL goes to one of those two, for-sale pages. I would suggest a price of $500 to $2,000. You might get lucky and attract a buyer in the next year or two. After two years, if it doesn’t sell I would just stop renewing it.
Very good article and overview explanation. However I would not recommend buying names with bitcoin, ripple, etc in them. Not only will it be oversaturated those names are brands and can / will be trademarked and you can still be hit with a UDRP. Only register generic names like buycrypto.com, buyingcryptocurrency.com, theblockchain.com, etc. There are tons of opportunities and no need to infringe on a brand name.
Just because something is legal does not make it ethical. While things that are legal can and often are ethical, there are practices like domain name flipping that are not ethical. Buying a domain name without intending to use it to make profit creates an unnecessary industry which costs people money and reduces general productivity and economic growth. This is the same with all practices that cost people money but do not contribute any value, most notably corruption. If we eliminated such practices our economic growth increases and general wealth is increased because our money is paying people for things that add to our lives and our communities. This does not. Evessariky reglect badly in people who choose to engage in such practices, but is a result of regulatory failure.
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.