In the latest issue of the ‘
ONE YEAR MILLIONAIRE‘ I spoke about buying the perfect domain name that is right for your business and what makes a great domain stand out. This time I am going to talk about
Domain Flipping!
Domain Flipping is essentially a business model (more like a drug that you get addicted to) where you buy Domain Names at low prices and try to Sell them off for quick profit! If you are into the whole resell thing and you know that you can sell then this is perfect for you to Make Money Online.. and lots of it!
The idea is very simple… you can easily buy a Domain Name for less than $10. Every year in order to keep that Domain under your ownership you will pay another $10 (which is really nothing at all) but the great thing is that you can find someone willing to buy this name for a much higher price! In some cases you will only be able to double your investment.. but in a lot of cases you will be able to make hundreds of dollars; if not thousands!
Think of it this way: A Domain Name by itself is nothing special. That is why it can be bought or registered extremely cheap; however, if you make something out of it then you can add an undetermined amount of value to it!
What can you do to make this Domain worth something?
- Install a Wordpress Blog.
This is something simple that anyone with a little bit of internet knowledge can do. Installing a Wordpress blog is so easy that pretty much anyone can do it. Except I know that some people really don’t want to spend much time doing this or may not know how (for whatever reason). That is why I know that there are tons of people out there who are willing to pay someone to install a blog on their domain.. or buying a Domain with a pre-installed blog, even better!
- Install a Forum.
The installation of a Bulletin Board, Forum, Message Board, etc. can be a pretty tricky installation for those who don’t really know much about the internet and hosting capabilities. That is why it is easy for internet savvy people to register a domain name, install a Bulletin Board and sell it for ten times their investment with less than an hour’s work!
- Build Link Popularity.
If people are looking to buy Domains, sometimes they want an established Domain that has pre-existing Traffic that they can use for their own purposes. This is how you can take a $10 domain and turn it into a $5000 sale! Link Building isn’t hard work… but it takes time and patience. This is something that not a lot of business owners have; especially when they are losing money for time wasted! That is why a small business owner is possibly very likely to buy a Domain name that already has Link Popularity!
- Provide Content.
I know of a lot of people who create small Niche Blogs or Niche Sites.. write a couple great articles and sell them off on the internet! This can be great and extremely easy if you are a good writer. The great thing about this is that sometimes you can leave backlinks in those articles back to another one of your own websites. Usually the buyers of these kind of sites are looking to buy Niche Sites in bulk in order to collect decent revenue from advertising.
- Monetize with AdSense.
This sort of goes with what I mentioned above in Providing Content. You can slap on AdSense units on Niche Sites and sell them! We all know that AdSense could equal big bucks; but it also might just barely cover your investment! If you have a great time-tested AdSense layout with great ad positioning, then you could sell these sites by the dozen and make tons of Money on the Internet!
Now that you know a few easy things that you can do.. your next question might be “Where can I sell these Domains?” Well… here are a few great options:
- Web Development/Internet Marketing Forums
The communities on these kind of forums are always Buying/Selling websites and domains and adding yours to the mix won’t hurt at all. Especially if you have a great offer! This is also great because you can research appropriate pricing for Domain Flipping. One thing you need to remember; however, is that the Domain is only worth as much as somebody is willing to pay for it! You might get lucky and sell a crappy Domain with a default Wordpress blog installed for $2000. It all depends on circumstance. Check out Digital Point and Warrior Forum if you are looking to sell a Domain.
- E-Bay.
If you are looking to sell a Domain or anything else… you must know that E-Bay is always an option! I have seen tons of Domains sold on E-Bay and because it is one of the biggest most well known sites in the world.. you have great exposure increasing your chances to make big profits from Domain Flipping!
- Friends/Co-Workers.
If you know a friend or co-worker that is interested in Online Marketing or just plainly Making Money Online then you know that you can be their teacher and guide them through the process! Register a Domain for them and find them a great hosting service that will save them money, and Make You Money!
One thing to remember is that Domain Flipping can be very addictive. Once you Flip your First Domain you will want to keep Flipping and you might notice that you are spending a lot of time on it.. but if you are making good money from it, then I guess it might be worth it! Finally, before you get into Domain Flipping.. in order to succeed you need to know the basics of the internet and the basics of marketing and selling on the internet! Do your homework… you won’t regret it! Start Flipping Domains.
In the next issue of the ‘ONE YEAR MILLIONAIRE‘ I am going to move on to Domain Parking and what it is all about.
