You probably heard about someone making millions online and you probably are asking how is that possible. There are many highly profitable businesses you can be running online. One of the more lucrative way to make boatload of money online is buying and selling domain names.
Selling domain names can be very profitable and there are cases where domain names have been sold for many thousands of dollars.Investing in domains is like real estate investing or as some call it “property flipping” Domain investors buy domain names and later sell them for a higher price. Another business we can compare domain investing with is stock investing. Stock investors buy stocks they later can resell for more money than they paid and as a result they make a profit . If you are interested in making a profit you must know how to do it the right way.
Buying and selling domain names can be very profitable but just like any other profitable business is not easy. It can be done if you are willing in investing money of your own, time and hard work. Here is a step by step guide how to make money buying and selling domain names
Step1: Find domain name you can buy
To make money buying and selling domain names first of all you must buy a domain name that someone else could buy it later from you. A domain name just like many other things are worth as much money as someone is willing to spend to acquire them. Because of this just buying a domain name will not guaranty that you will make a profit.
You must find the domain name someone will be willing to spend money for. This is easier said than done and requires knowledge and experience to find a domain name you can flip for profit. Some domain names were sold for millions and although it’s very likely you will not be able to acquire a premium name that will fit your budget, you can still find good domain names you can later resell for several times their initial price.
Smart thing would be not to concentrate on domain names that are popular at present, but thing about which domain names will be popular in the future. Those names that are popular today may have a high price tag, and those that might be popular in the future probably have price that is much more acceptable and their price will significantly increase once their popularity also increases. After you found a domain names you think is worth investing in you should move on and buy them.
Don’t think about registering domain names that are trademarked like names of companies or personal names, because that way you can get sued. Instead look into generic or geographic names to come up with ideas. Something like Newyorkcitydoctors.com or LosAngelesrealestateforsale.com etc.
Step 2: Sell domain names
After you purchased a domain name the next logical step to do in order to make money is to sell it for more money then you paid for it. You can sell your domain to a company or organization that might be interested in buying it. You could make a list of businesses and organizations that might be interested in having a particular domain name, and you can offer your domain names to them and negotiate a price.
Another way and also most popular way of selling domains are auctions. You can list your domain names on sites like Flippa, Sedo, GoDaddy and let buyers bid on them. This way you could potentially make more profit unlike negotiating with individual buyers.
Many domain name investors also have their own websites where they list domain names they have for sale. This way potential buyers can contact you and start negotiations over the price. Aside from selling you can also choose to monetize your domain name by setting up a blog under it and monetizing it before you sell it. You can also sell your website or blog in the future and make more money than you would if you only sold a domain name