How to Flip Domain Names for Passive Income
It can sound like a crazy idea but some people have made money buying, selling and flipping domain names. Some have become millionaires doing this. I will show you how it’s done and teach you what you will need to know to begin. Here’s what you need to know:
You can’t earn money in domain flipping without understanding the marketplace. The domain name market is huge and it gets bigger every day. Some people make their money buying up domain names that are worth less than ten dollars each. Other men and women make their money selling domain names that are worth more than a hundred bucks each. Either way, it’s plenty of money.
Domains are sold for a number of different reasons. One reason is popular phrases that are in high demand. Hot topics rise in cost when people are searching for answers to questions about the problem they have. So, popular phrases on wellness and lifestyle sites like”I hate cold temperatures” or”weight loss” or”I hate heat” will quickly get traction in the domain name’s marketplace. Once they gain some momentum, they will be hard to beat.
Another reason people buy domains would be to resell them later. Reselling domains is one of the fastest growing forms of domain reversing. A couple of years back domain names were purchased and resold with little attention paid to the market. But today there are large directories like GoDaddy and eBay, where buyers and sellers can register old and new domain names prior to making any sales. So, sellers can buy hot domains, register them and then quickly sell them for good profits.
If you would like to earn the maximum profit buying and selling domain names then you will need to buy enough domains to cover your everyday usage. You should have a minimum of ten domain names registered each with a current Premium domain status. If you’re planning on selling all of your domain names then you’ll need to do one of the following: Find a fantastic domain name search engine, enter a list of your desired domain names and conduct a search. If your domain name is not available in the search results then you will want to purchase it from your hosting company.
If you are going to sell all your domain names then you need to set aside time each day to look through and purchase any domain names you are not using. The most valuable domains are those with no expiration dates and expired domain extensions. Once you’ve bought your domain names, you’ll need to find new extensions to register in order for your website visitors can access your website. New extensions cost a little more than regular domain extensions but you can usually sell your old domain names for double the amount of new extensions.