One of the easiest and best ways to do so is to make money flipping domains.
The benefits of flipping domains:
- A website isn’t necessary if the domain is valuable.
- Can be a quicker method of making money online than most other
- methods of making money online.
- You’re paid through Paypal for most transactions… meaning instant cash!
- Domains can make you money. Some of the top domains (one word high quality domains) have sold for millions of dollars. You can buy premium domains that sell for hundreds for as little as $18 each here.
Of course, it’s unlikely you’ll find a domain today that is worth millions unless you buy one yourself. You’ll need a lot of capital to do that. However, you can find decent quality domains that are available to be freshly registered. This is where you can make a lot of money. Some brand new domains may even go for $100 or more than that if you know how to pick them.
Right now I’m making around $500 -$2,000 per month selling simple domains with no content on them. This is with little effort. If you put in the effort you can make more than I do.
Where to register your domains
There are a lot of different registrars to register domain names. I use Godaddy, Fabulous, Moniker and Namecheap.com. You can register free at all of them and then you are set up to register domains there or to have domains pushed to you from other users when you buy one. That’s why it’s good to have more than one account, but you can always set that up as needed and just choose one to begin with.
Checking Domain availability
There are plenty of rumors around that doing a domain search at some registrars can cost you a great domain, if you don’t register it right away. I don’t how much truth there is behind it, but I always do my domain searches at Namecheap and I always purchase my domain as soon as I find the one I want. There are just too many people searching for domains to risk losing it by not registering it right away.
Cross Forum Selling
Sign up to some of the places for sale listed below and check to see if there are any bargains. You’ll often find domains going for cheap or you being able to work a bargain because there’s no interest on that specific forum or the buyer wants to sell it quick / needs the money.
Try and minimize the risk… look for domains for sale that are decent (obviously), but cost less than around $10 -$30 and have at least six months to run. This way, if you can’t sell them immediately you can always develop them or try again in a month or two.
You should look for around 3-5 per week, and once you build up some capital look for more. Remember, even if you only make a few dollars profit per domain, it add up… $10 profit allows you to buy another domain and if you sell that for $10 profit… you get the idea. Of course, you can buy as many domains as you want. But they aren’t any use unless you sell them.
Where To Sell
You will make more money by selling your domains to actually end users, but first I’ll tell you about the places where you can list them for sale.
Here are some of the places you can sell your domains:
This forum has a lot of traffic and the best thing is that it is free to list at. The domains section is at http://forums.digitalpoint.com/forumdisplay.php?f=59 You need an account which is at least two weeks old and has 25 posts to list there. People on Digital Point tend to expect and offer very low prices.
Namepros.com – www.namepros.com Namepros is a forum specifically for domaining. You can list your domains for free in the Domain Auctions threads, Fixed Priced Domains thread or Make an Offer Domains thread. Make sure you read the rules for each section before you post. . Basically, you’ll be selling for reseller prices on Namepros, rather than end user pricing.
This is a great forum for domainers. In addition to being able to sell your domains, and even websites, there is a lot of information on all aspects of domaining. Check it out and you might learn a lot.
Flippa is better than the two above because it’s visited by a more serious buyers. On Digital Point, you’ll often find that people tend to be very cheap.
On Namepros, people know how to appreciate a good domain, but what I’ve found is that it’s less well known than Flippa so sometimes your auction can be ignored or go for less money that it should do.
When you create your listing at Flippa, list your domain in the title (or subtitle) because there are quite a few threads and buyers don’t have the time/energy to look at all of them.
The good thing Flippa is that even though it costs money ($19 to list), you can list multiple domains at once. So once you get a bit of capital flipping on free forums like Digital Point / Namepros, you can list 5-20 domains at a time in this section and you’ll find that a reasonable number of them will sell if you stick to the formula I gave you. Those three sites should be enough to sell most reasonable quality domains. You can list your domain as an auction or with a fixed price – it’s up to you.
Other good webmaster forums where you can sell are:
http://www.talkfreelance.com http: // www.v7n.com http://www.talkfreelance.com
You can also sell your domains at sedo.com and afternic.com. There’s an annual fee to list at afternic, but sedo is free. I have quite a few listed at Sedo. This is a very passive way to sell your domains. They can bring in a good price at Sedo, if you’re willing to wait for the offer. Basically, you list them and forget about it until you have an offer. When you have an offer, you can send it to auction or accept the offer or counter the offer. If you accept the offer, a Sedo rep will handle the entire transaction, so it is completely safe. You give Sedo the domain and the buyer gives Sedo the money. Once transfers are complete, Sedo puts the money in your Paypal account.
When listing your domains on the forums, make sure you have a catchy title mentioning the facts.
ABCD.com – Great Short and Brandable Domain Starting At $9!
ABCD.COM is a short domain that you can use for many purposes. For example,
it could be used for a music blog or even to sell a music product.
The keyword ABCD has over 5,000 searches per month (see Google Adwords
tool). Starting bid: $9
Reserve: Yes BIN: $50 Auction ends: 24 hours from last bid
Payment through Paypal. The domain is located at GoDaddy which means it is a
free push to your account.
Buy this today because it won’t last long!
The BIN is the buy it now – the price you’ll take for an instant sale. Starting bid is the bid that buyers can start bidding from. You’ll usually want to make this more than the cost of your domain, however you can start bidding at $1 if you want to draw more people to your sale thread.
The reserve is a price that must be passed for the domain to sell. Having a reserve is safer because (for example) if you start an auction at $1 and only a few people bid, you’d be forced to sell at a loss. Having a hidden reserve makes sure this will not happen.
Make sure you mention when the auction will end – a good way to keep it going is to use a “x hours after last bid” function where the thread will get bumped every time a bid is made. The more people that see your auction, the more likely it is your domain will sell.
The above format is for an auction type domain sale. If you’re listing on Flippa, just list domains, prices and the way you take payment (Paypal). If you have search data for the domains you can also add that. Any info you have to sell the domains, the easier it is to sell them.
Generally, try to put prices at 25% higher than you actually feel the domain is worth (so if you want to sell for $40, list the price as $50) but also state you’re open for negotiation. You’ll find that most buyers will pay the 25% extra anyway and even if they negotiate, it will be to the price you wanted originally.
Get started – the best thing about this is that you can get started today.
Don’t waste your time; get going immediately. Look for a domain that you can sell today for Paypal cash!