Selling Domain Names For a Living
Selling domain names for a living, or domain flipping, as it is called, is a surprisingly lucrative thing to do. But it’s not as easy as you might think. For sure, domain flipping is much easier than building a website from the scratch.
The idea is to buy domains and sell them at a higher price to make quick money. How much money, you ask? Well, luck plays a big role here, so there’s no way to tell.
Domain selling with Jamie Lewis of Domainer Elite
You can, for example, buy a domain name for $250 and later find out that there’s a company that wants it real bad, and are willing to pay you $30,000 for it. This is known to happen, so the possibilities are limitless.
Selling Domain Names For A Living Isn’t A Get Rich Quick Scheme
But you could also end up buying a domain name worth $500 and have no buyers at all. So it’s not as easy as you think – domain selling requires a fair bit of research and experience. It’s so easy for a newbie to get sucked into buying a domain that nobody wants.
As long as you stick to the principle of buying low and selling high, you should be okay. You should aim to make a 100 percent profit with every domain name you buy. So, if you buy a domain name for $500, you shouldn’t rest till you’re able to sell it for $1000, at least.
So where do you buy domain names? You can buy unregistered domain names on sites such as GoDaddy, NameCheap, Google Domains or Gandi.net.
You can buy domain names on many online forums as well, where you will find a number of domain name sellers like yourself. But be careful here, there’s always a chance of getting sold a lemon here – the domain names available here could be really useless or it could be priced too high.
Online auctions at domain clearing houses such as Flippa are the best way to buy domain names. Here, you will find a lot of unwanted domains which people fail to renew for some reason. So they offer such domains to Flippa, which auctions them off for a reasonable price to the public.
The best domain name flippers can be found here, and there’s always a chance that you could land your hands on a real multibagger. The bids start at $69 and can go up from there, depending on the level of competition.
You can also find the latest information on upcoming domain name auctions at http://www.tld.org.
Of course, the key to earning a hefty income from flipping domains is to find domains that are in demand. How do you do that? Once you identify a domain name, do your research on individuals or businesses that have similar domains and might be interested in that domain.
You will need to make educated guesses here, and if everything goes right, you will find a buyer almost immediately and will be able to flip the domain fast.
This is something that comes from experience. Every time you buy and sell a domain, you will develop a feel for it and will get better at it. There will be plenty of occasions when you will fail to make any money from a domain. In that case, don’t get disheartened, just move on to the next domain.
There are many domain name sellers who make a healthy six-figure income from this business, working their way up the food chain, having started from absolutely nothing. There’s no reason why you can’t make a decent living from selling domains as well. Go for it!