It’s been a while since I’ve posted up a money-making tip, so here’s one for ya. This one is something you will love for sure, but those who are already implementing the method will not appreciate me talking about this. Why? Because it works and if you learn it, this money-making method will become saturated in the long run. This type of information you are about to read is already worth a few dollars just by itself.
So the method is simple. Buy domains then resell them. Sound easy enough eh? Well, it is. In fact, there’s even a term for this type of person. We all know what internet marketers are, what bloggers are, or what graphic designers are. But ever heard of a domainer? These people make hundreds everyday selling off their domains that they own from their portfolio. Domains are hot because they are the basis for future websites. And you can too. Here’s how you can get started.
- Sign up with a domain registrar. I prefer Dynadot and GoDaddy.
- Search for an available domain name using generic keywords. I use BustAName which is a domain service that finds available domains from the keywords you enter in.
- Purchase that domain for $8.99 or more depending on the registrar.
- Post your domain for sale (and in auction style) in forums or a domain marketplace.
Tips
- When looking for a domain to purchase, try adding generic keywords from the latest trends. For example, when the iPhone came out, people started purchasing all sorts of domain names with the word iPhone in it. They surely reaped the rewards as they sold the domains for hundreds or even thousands a piece.
- The shorter the domain, the better. It’s pretty self-explanatory.
- Start your auction price small. Usually when I post a domain for sale, I set the starting bid at around $2-$3 more than the original purchase price. Even if only 1 person bids on the domain, you still got $2 or $3 in net income right?
- Before posting up a sale in forums, make sure that you are reliable and trustful enough that people will actually trust you. If they see that you are new to the forum and have only 1 or 2 posts, they might see you as a scammer and not even try working with you. The best way to be a reliable member is to participate in the forum first with at least 50 or more posts.
Conclusion
I have been doing this method for a few weeks now and have made almost $200 from it so far. For those of you who have already jumped in this method of making money online, you know exactly that if done right, it’s easy to make a lot of “easy” money from it. I once made $60 in just a couple hours, which really got me exited. But the only thing I can say about it is that it’s not a consistent money maker. Don’t expect to pay off your bills from being a domainer if you don’t know all there is to know about it. If you’re new and actually want to try it out, go ahead. It’s always better to expand your ways of monetization right?
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I’ve tried this before, but I never got far with it. I bought a couple of domains, but never even resold them. Just not my thing I guess.
$200 in a short space like that is pretty impressive though. Congrats!
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Rahul Jadhav Reply:
February 22nd, 2009 at 11:53 am
Wow!!! I never knew that Flipping domains was so profitable
Rahul Jadhav’s last blog post..26 Free eBooks For Bloggers
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wow..is it true?!..nice money making tips there..can you give more tips on selecting the domain which was meant to be bought by me and resell it..hehe..;)
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Sounds like a fun project. Just don’t know how much time you have spent to get those $200.
You should try to make it an easier process.
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The real problem is that you don’t know what people will think is a good name and what they’ll want to buy. You may get lucky and find some undiscovered gem or you may buy a whole lot of rotten eggs.
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I have been trying this for a while and it has been okay. How are you able to sell your domains so quick. Don’t you have to hold onto it for a predetermined time period before you can let go of it?
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@ Soul - Selecting the domain is really based on what you think would make a lot of money. It’s all up to you.
@ Internet Entrepreneur Diary - I probably spent just a few hours total.
@ Jason - Actually, if you put some research into domaining, you will actually know what to get. I think I’ll make a second part to this where I’ll also include the domain names I have sold so far.
@ Gerri - Nope. You can buy it one minute and sell it the next.
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This a good article. There are many ways to buy good domain names. What you could also try is to look for names that drop or buy domain names that are already listed for auction from other domainers and from companies like snapnames, pool etc.
There is a fine art to look for domain names that could be valuable. Even though it is very subjective, the more you do it the better you can get at it. I’ve personally bought domain names for $10 and sold it for $500 in a matter of months.
Also, there are some locks depending on the registrar and the TLD (for example .org domain names usually have a 60 day lock on them that prevents the registrar from transferring). But it depends on whether you have to transfer the domain name or you can simply push the domain name (send it to the buyer who has an account with the same registrar like GoDaddy, Enom etc.). In that case you are not doing a “transfer” of the domain name rather just a push of the domain name from one account to another.
Visit my domain name blog http://www.namemanagement.net if you need more information.
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No, this is a great article! This is one of the directions I want to move in and this article is very helpful.
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Excellent introduction to domaining. Modesty of your pricing, as you mentioned, is a very good suggestion. But to save you an extra $2 you should always use a coupon code when registering domains. You can use “diggnation” at GoDaddy to get $2 of .com regs.
Every domain sale is a unique learning experience. Domain flipping is challenging and fun and it only gets easier to be a domainer as your portfolio builds.
Mark Fulton
DotSauce Magazine
http://www.DotSauce.com
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I have 3 domain to sell any body want buy it.
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I think this is imposible.
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Hey Sly,
I’m going to try that out. It looks like an easy way to make some extra cash which I’ll use to develop my blog. Thanks for the explanation.
Also, I think you meant “it really got me excited”, not “it really got me exited.”
Keep up the good work,
Hafiz Dhanani
Hafiz Dhanani’s last blog post..Welcome to Ask A Blogger
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I am always looking to make some money on the net since I cannot get out to woork and this information you have provided is very interesting that Im going to look into it and if is not expensive like you say then I might just give it a try altho I do not know anthing about such things I probably look into all of the information there at go dadddys and see if I can be a seller of domains. THis article tho has got me motivated. thanks
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First of all, gotta say I love the blog…
I’ve been trying this method recently after your post and I’m doing ok with it but as you mentioned, I would love to see a post with some of your more successful purchases and sellings!
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I took SlyVisions tips and went and bought two Domain names and now Im selling them Im having an auction on my site and minimum bid is 15.00 the Domain names are DotBlogger.net and also Projext.info both are a minimum bid of 15.00 each and I do hope you all who visit here will go and put your bids in. Im new at this but I hope it works out for me as it has for SlyVisions. thanks.
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Cool one, I had heard about it before, but never tried it myself. I could see me implementing this as another income stream.
I may have to try it out….
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Hmmn, I am just wondering if I should put these 2 domains - wpbeginners.com and bloggingtips.my up for sale?
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WHAHA. I have learned something. Let me try this as soon as I got some capital
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Thanks for sharing the best way to make money online. I have started to procure few domains and started to sell the same in Digitalpoint forums…
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Has anyone else had success selling their bought domains? Do share your stories.
I am going to put up a few names that i have in my portfolio up for sale, and will report back my experience.
Feel free to visit me at G34 Media where i will write about it.
G34 Medias last blog post..Display Twitter Follower Count With NEW! Widget
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Wow, great tips Sly, how about domain parking on places like Sedo? Any value?
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@ blogcoach - I wouldn’t recommend parking domains (unless the domains have very popular keywords in them). The only you’ll get from domain-parking is cheap change.
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I have so many parked domains. I’ll follow the tips listed here to make easy money online.
Adsensing’s last blog post..How to Get Free PR-6 Link in No Time?
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Thanks Sly, I thought that parking would give me an indication of how many clicks you can get from folks keying in the domain name. Perhaps I should go directly to auction. Take the plunge!
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Really interesting post. Hope it work for me as well
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@Michael from Pro Blog Design -
I agree completely, I have bought many domains which I thought were valuable but others just think are rubbish, which has led me to hold onto them
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Great article. I don’t think domains are selling fast right now, but I may be a little out of touch with the market. Have you tried Register Compass? You can get info on PageRank, Google and Yahoo links, Alexa, . . . I have tried it and like the service.
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great post I have been wanting to know about these. I just don’t have time to find out.
Sherry’s last blog post..Check 50 State Phone Book
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wow. sounds pretty straightforward. might be worth a try eventually.
kouji´s last blog post…haiku poem
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Sly you sure know how to make money online.
Sherry´s last blog post…My pizza
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i think making money online is not easy.
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@muslim baby names, indeed its not easy you have to work for it.
Sherry´s last blog post…Database Error check Heart Random
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Congrats, but I cannot success in that occasion…
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I just won a dot info domain not sure if that’s a good thing or bad thing.
Sherry´s last blog post…Wanna win Free Domain?
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Unless we prepared to bare with time and investment, this is not preferable.
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@christmas flowers you are right! I always think of that.
Sherry´s last blog post…Just for Kicks @Blipbit.com
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i am still a belever that earning online is not easy
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very good idea to make few $$ … haven’t tried yet … one of my frd had recommended me but will try on it from now ..
share some more good ways to earn online like this frd
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Great guide, it is actually REALLY easy to make some quick cash from domaining.
Within two days I made a profit of $30 for doing absolutely nothing besides registering a domain.
Cheers
General
General Specifics´s last blog post…Get loads of traffic with Google images
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check ebay,s domain selling section. hundreds of domain are selling there daily.also sedo,namepros,,digital point.so there is scope for domain flipping now also
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Unless you get a nice jump on a new niche, i’ve found it pretty hard to make any type of decent money with this for the work involved.
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I’ve done plenty of this. When I get “stuck” with a domain, I turn it into an automated blog for my blog network, to generate link-backs for my income generating sites. I’ve done well with domain flipping though.
Tim
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It seems like something is missing, no?
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hi,great post,just keep it up
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I tried that before but no luck. Maybe I should work harder
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I think if you’re unsure if this would work, then buy a domain that you can think of a use for it, so if it doesn’t sell you can develop it yourself and try again in 6 months or so.
I hear afb.com is for sale - that’s a 3 letter domain name, they’re few and far between!
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Very well written post however, I would recommend that you turn the No Follow off in your comment section.
Keep up the good work.
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wow im very interested in flipping domains !
i have some really great ideas and im thinking of buying a whole lot of domains and then putting them up for sale ! my question is this ..when a person buys a domain from you how do u set up a way to recieve payment ? how does one usually pay for the transfer ? my second question is where do you post them for sale ??
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Very informative! Great post!
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Seems the industry is getting saturated.Only high players are making money with it,Recent sale of ad.com showing us that.ad.com sold for 1.4 million
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No doubt, domain name is a virtual asset. Some people invest in domain name. It worth some value of money. Sometimes, it even worth more than what we can imagine.
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great article. thanks!
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