Domain flipping means buying and selling domains for a profit, and is one of the few domain investing strategies. Now there is quite a misconception regarding this particular act as people are of the opinion that hoarding domain names is unethical but that is far from true, as many big names in the domain flipping industry like GoDaddy and Namecheap have emerged recently.
As far as flipping domains for a profit is concerned, there are certain domain names that are worth a lot of money. For instance, Hotel.com and Business.com have been reportedly sold for $11 million and $7 million respectively. Now even though coming across such golden domain names seems more like a long shot, you can still make a decent amount of money if you choose to buy and sell domains as a part-time business opportunity.
Recommended for: likewise, it’s perfect for stock market and investing enthusiasts and risk-takers
How much can you earn: it’s not as lucrative as it used to be but some domain names can be sold for thousands of dollars or even tens of thousands
Start-up costs: anywhere from a few bucks to thousands (depends on how much you’re willing to invest)
Sometimes, the value of a website is not in the actual website or the traffic it gets – it’s in the domain name. A good, keyword-rich domain name can make a huge difference to a business, online publication, or blog so in some cases, they’ll be willing to shell out a lot of money to get the domain they desire (especially if it’s a .com)
However, this strategy isn’t as lucrative as it was years ago because a lot of good website domain names are already taken (and some, being sold for huge sums); but it’s still a pretty big business.
Here’s what to do to use this money-making strategy:
- Buy a new domain name and get hosting from Bluehost here
- Or, buy an existing domain name from Sedo, here (this is the biggest domain marketplace available)
- Sell your domain names via the Sedo marketplace, either on a fixed price or through a domain auction, whereby you sell your domain name to the highest bidder
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