Domain flipping means buying a domain by yourself and then selling it to other people later on. To do it you need to own a valuable name first. While picking up the domain name you need to pick up a name that is easy to remember or pronounce. Because a lot of people are willing to buy it.
A lot of people are already doing this and are gaining a good amount of profit. Let me give you an example of it. Let’s say you’re searching for a domain name for your website. And when you try to register it says “It is already used”. Now, when you go and type that same URL in your browser, you might see that the domain name that you’re trying to register is already bought by someone and it is for sale on some registrar websites like Go-Daddy.
Then when you look at the price you will be able to see that the price of that domain is way higher than that of the one you normally pay while buying a domain.
So here in Untold Clue, we will be talking about how you can do the same thing.
Things To Consider While Buying A Domain.
Since this is a matter of money, we need to consider a lot of things while buying it. This step is highly important. The more you care about this topic the more probability you have of getting your domains sold. Now the things that you need to consider while buying domains are:
- Buy-only .com domains and other extensions are hard to sell
- Buy domains that are short in length
- Use always 1 or 2 words. Rarely 3 words if it’s really good.
- Check the spelling and how easy to misspell
- Don’t buy to sell them immediately. You can’t unless you have a buyer already.
- Think about renewal before buying if that doesn’t sell.
- Learn how to monetize domain name – Domains Monetization.
Finally, you need to be patient and contact/wait for the right buyer. Don’t worry if the domain’s name didn’t get sold you need to have patience.
Things You Need to Know About Domains Flipping.
While we’re in the process of Domains flipping we need to be sure about the truths of Domains flipping. Here I’m covering some untold truths on how domain flipping works and what you should expect from it.
It’s Not Passive, It’s An Active Process.
Domain flipping is an active process. It is never a passive process. You need to spend your time and money buying good domains and actively looking for buyers. You can’t make a good amount of money if you don’t invest some time every day.
Domain flipping experts believe that once you buy a domain, it is considered a hot property. This means you will have to go through the trouble of picking the right opportunities at the right time to seal the deal. To become a successful domain flipper you need to have market expertise. You also need to have people with research, negotiation, and networking skills.
Domain Flipping Requires Time to Learn.
Domain flipping is also a kind of business. So just like other businesses it also requires some time to learn. There are a lot of things that you need to consider to become a successful Domain flipper. Buying and selling a domain name sounds much easier than it is. You need to grind for at least a year to make a good amount of profit.
In this process, in the beginning, you’ll have some blunders like:
- Losing money for useless domains.
- Missing prospective deals.
- Lacking patience.
But as time goes on you’ll slowly get a hang of it. Flipping domains for sums is not easy; you need to climb a steep learning curve before you can become a pro.
It Won’t Make You Rich Overnight.
Making millions and billions is a common dream of every person. You might also have heard the motivational stories of people about how they made millions per month. Well, it’s not as easy as they say. Domain Flipping can make you rich but it requires a lot of time. You need to have patience in every step. In the domain flipping process, you might even go to loss which you need to overcome.
You need to be sure of one thing. All the domains that you bought are not going to be sold. But the one which will be sold can give you abundant profit that can easily cover your loss and still, you will have a lot of money left. But if you are thinking of starting a part-time business where you buy domain names and sell them off for a decent percentage of profit, then it is reasonable.
GoDaddy Is Not Only The One Domain Registrar.
GoDaddy is the cheapest and most popular choice of people in the case of domain flipping. It doesn’t mean that there are no other domain registrar sites. GoDaddy is popular due to its massive advertisement campaign. However, there are a lot more other domain registrar sites where you can do domain flipping.
Other popular domain registrar sites like Namecheap, Domain.com, Name.com, etc. are also the best places to buy your domain name. If you’re planning to buy the domains in the cheapest method then we have a tutorial for that.
Also read: How to buy domains at a cheap price.
Go For ‘.COM’ Domains.
At this time almost 90 million “.COM” domain names have already been registered. Now, you might think that there is no possible way to find a good name. That is not true since you still have the opportunity to incorporate two or three-word target keywords. You can search for names that have never been used before. ‘.COM’ domains mostly rank higher than other extensions.
While buying the domains check out different registrars where it is highly affordable. However, the only downside to flipping the ‘.COM’ extension is that you will have to discover them at different places like Flippa.com or private seller portfolios.
Step By Step Approach To Domain Flipping.
- Know your Budget.
- Choose a specific Niche.
- Find Hot keywords.
- Buy Domains with page rank.
- Find domain names related to your keywords.
- Create a solid domain portfolio.
- Never sell right away.
- Be aware of the risks involved.
Conclusion
Flipping domains can be an extremely profitable side hustle for anyone. With just the use of a computer and internet connection, you can make money from any part of the world.
It is a really simple process. First, you need to find a good domain name to register. Then you’ll need to find potential buyers to sell the domain names. You can sell domains in a variety of ways including auctioning them on websites like Flippa or you can choose to sell them privately. Many domains can be sold in less than a few weeks, making it a quick way to make a few hundred dollars each month.