Domain flipping is a great way to make money online. Flipping domain names are as old as the internet itself, and there’s always a need for premium domains. Your eyes probably grow big when you hear of people selling domains for hundreds of thousands or even millions of pounds. It’s not common for people to make that much money on a single domain transaction, but it’s not unheard of for some to make their living trading in this form of virtual real estate.
Buy low and sell high
Everyone says that’s the key to making money, but it’s the truth when you’re buying and selling domains. If you’re new at domaining, then it’s best to buy dropped domains that you can purchase for the price of registration. It will cost you about ten quid or so to register a domain for a year, which means your investment isn’t that much. It won’t burn a massive hole in your pocket if you buy a domain, and no one wants to take it off of your hands. Keep in mind that you have an entire year to sell the domain, so there’s no hurry to find an immediate buyer.
Auction domains are more valuable but…
You need to take into consideration the backlink profile and also what the domain was doing before the owner decided to sell it. Was it a spammy site ten years ago? How long has it been since the site was active? If the domain is active now, how long has it been since its last update? A blog, for example, is a site that needs to be updated regularly. A good domain with a questionable blog that hasn’t been updated in a few years might not be worth the money. Sometimes people will try to jack up the value of the domain by attaching it to a worthless site.
Buying and selling domains directly are still where the action is
You’ve probably landed on pages that say the domain is for sale. Anyone who has spent any time online has come across domains like that. You will also find that people sell their domains from their site and not at auctions or the other routes sellers tend to go. The great thing about buying domains from individuals is that you can negotiate the price. It’s much harder, if not impossible, to negotiate when the seller is using a third-party site to handle the transaction.
It takes a long time to understand the value of a domain
You’re going to come across a lot of domains at the beginning that seems great, but are total duds. It’s best to hang out at domain flipping forums and see what the people there are selling. You’ll see that newbies tend to choose really bad domains, and they overvalue them greatly. If you buy a domain for ten bucks, don’t shy away from doubling your money on your first transactions.
You want to get a few sales under your belt to get your confidence up and to get a firm grip on the buying and selling process. The mistake many new domain flippers make is, they overvalue their domains and think they’re worth so much than they are. It’s far better to make a profit than it is to hold onto something that no one wants to pay more for.
Earning Disclaimer – Every effort has been made to accurately represent domain flipping profitability in this post. However, there is no guarantee that you will earn any money using the techniques and ideas in this material.