How to Make Money Online – Flipping Domain Names
Pretty much everyone has heard about flipping houses…it has been a topic of sitcoms on television and reality shows…there are entire shows dedicated to the concept of buying properties and fixing them up and reselling them for a profit. Well, you can apply a similar idea on how to make money online-flipping domain names…but it costs a lot less up front and takes a lot less work!
Basically what I am talking about is buying a domain name that has expired and reselling it.
Of course you have to buy a valuable domain name…just like in the real estate example…because not all domain names are created equal. In real estate the key is location, location, location, right? Well, online the equivalent is traffic, traffic, traffic.
Just like flipping houses you have to do some homework. Whether you are searching for a physical property on the market or virtual real estate in an expired domain name there is work involved. But with expired domains you don’t have to leave your house to find the perfect “property”…and you don’t have to rip out carpet, either!
What makes a good site to buy, hold and then resell?
Well a site that is basically a really good keyword is an excellent example. You can buy domain names that have expired…that are no longer owned by anyone…sometimes just for the registration fee, which is like about $10. Other times you might pay say $60 for a decent name. You can also find a really hot site and buy it through an auction where you might pay a lot more.
Depending on the traffic, your budget and your goals any of those options can be successful and a good way to go.
The way you make money on this is, again, similar to real estate. You are going to buy the name and hold it for a while. If you bought a house and fixed it up you might decide to rent it for awhile if the market wasn’t good for selling at the time, right?
Take that analogy and apply it here and what you do is “park” the domain name. So while you are waiting to flip the site you park it and you bring in money from the ads that are placed on the parked site. You simply redirect the traffic that comes to the domain name, you redirect it to a parking company. They put ads on it and you get paid on a per click basis.
Then you can later sell the site if you want and make a profit on the deal. So you have been getting “rent” as it were and now you sell the property and pay off the mortgage and take a profit. That is how to make money online with a sweet little property known as an expired domain name.