Did you know you can earn money online by buying and selling domains?
That’s right! Domain flipping is a great and lucrative way to make money online.
In this comprehensive guide, you will learn everything you need to know about flipping domains for profit.
You will also be able to understand how to find profitable domains and where to sell them.
We will also provide tips on how to protect your investment and avoid common mistakes made by new domain flippers. So whether you are just getting started or are looking for ways to take your business to the next level, this guide has something for you!
What is Domain Flipping?
Let us first understand what Domain Flipping even means.
In simple terms, Domain Flipping is the process of acquiring a domain name with the intention of selling it at a higher price.
Domain flipping has become increasingly popular in recent years as more and more people are realizing the potential for profit.
With the right domain, you can make a decent amount of money!
Why is Domain Flipping Lucrative?
There are several reasons why domain flipping can be so lucrative. For one, there is a very low barrier to entry. Domains are cheap. The average price of a domain is about $10.
This means that anyone can get started without having to invest a lot of money.
These domains can usually sell for upwards of a $1000 if you follow the right strategies and buy the correct domains.
Anyone can start flipping domains with just a few dollars. Additionally, there is no need for inventory or shipping since you are dealing with digital products.
Another reason why domain flipping is so profitable is that it can be done relatively quickly. Once you have found a domain that you think will sell, it can be listed for sale in just a few minutes.
Lastly, there is a huge market for domains. There are many people and businesses who are constantly looking to buy new domains for their website or project.
This provides you with a lot of potential buyers which increases the chances that you will be able to sell your domain quickly and at a high price.
Now that we have discussed what Domain Flipping is and why it can be so lucrative, let us move on to how you can get started!
Getting started with Domain Flipping
Getting started with domain flipping is rather simple. However, I’d like to remind you like this isn’t a get-rich-quick scheme where you can just choose a domain, then buy it and hope to make millions.
It takes a lot of work, errors and research to be a good domain flipper.
There are a few key things you need to do in order to get started with flipping domains:
1. Choose a Domain
The first step to getting started with Domain Flipping is to find a domain name that you think will be profitable.
There are a few factors that you should consider when choosing a domain:
The length of the domain.
Shorter domains are usually more expensive and easier to sell. This is because they are easier to remember and are more desirable for businesses who want a short and catchy domain for their website.
The age of the domain.
Older domains usually have more value since they have been around for longer and have built up some history and reputation.
However, it can be more difficult to find buyers for older domains since they are not as desirable for new websites or projects.
The extension of the domain.
Before buying domains, make sure you pick an extension that is suitable to the domain name. For example, a domain related to artificial intelligence should ideally have a .io or .ai domain extension.
.com domains are the most popular. However, there are other extensions such as .net, .org, and .io that can also be profitable. Do your research to see which extension is most popular in your niche.
The keyword(s) in the domain.
If the domain contains a popular keyword, it will usually be more valuable. This is because it can attract organic traffic from people who are searching for that keyword.
Additionally, domains with keywords are often used by businesses as part of their marketing campaigns. For example, a domain like toothbrush.com would be suitable for a business selling toothbrushes.
When businesses want to start new websites regarding a certain topic. The first thing they do is select a domain they like. Now, imagine you already bought that domain before they did because you analysed trends and more.
These businesses will pay you to purchase that domain because it brings value to them and that name was the exact one they were searching for.
Future Trends
To get started with domain flipping, you should research future trends. This will help you identify domains that are likely to be valuable in the future so that you can buy them now and sell them for a profit later. Some factors that you should consider when researching future trends include:’=
- The popularity of the topic: Will the topic be popular in the future?
- The potential of the topic: Does the topic have a lot of potential for growth?
- The current trends: What are the current trends in the topic?
Once you have considered these factors, you should be able to identify some domains that are likely to be valuable in the future.
An example of this right now would be buying domains is the crypto or nft niche as in the future there will be multiple sites built by large crypto companies who would be willing to buy domains.
A great tool to find new an upcoming trends is by using Google’s free tool called Google Trends.
You can use this tool to research potential domains by checking the popularity of certain keywords. If a keyword is trending upwards, it is likely that the demand for domains related to that keyword will also increase.
2. Evaluate the Domain Name
Once you have found a domain name that you think has the potential to be profitable, the next step is to evaluate it.
This will help you determine how much the domain is worth and whether it is worth investing in. There are a few factors that you should consider when evaluating a domain:
How Relevant is the Domain?
I mean, if you are purchasing a domain name. make sure its one which does have some sort of interest around it and has some demand in that particular niche.
You shouldn’t just grab any old domain name because you like it.. It takes time to do research and find something that you truly believe will sell.
Branding
Another issue to consider is whether the domain is appropriate for branding.
A branded domain is more valuable than a generic one because it can be used to build a brand around the website.
Generic domains are less valuable because they cannot be used to create a strong brand identity.
For example, a domain like “fastbrush.com” would be suitable for a business selling toothbrushes.
On the other hand, a domain like “besttoothbrushes.com” would not be as suitable because it is generic and could be used for any type of toothbrush website. Hence, a domain like this would be less valuable.
3. Registering the Domain
It’s now time to actually go out there and buy the domain name!
How are you going to do this? It’s actually way simpler than you think.
Using Godaddy can make this a really easy process and you can buy a cheap domain name in a matter of minutes!
Go to godaddy.com and search any name of a domain that you believe will be trending in the future, hold value or whose price you believe will go up over time.
Choose the duration period of the domain that you buy. For example, you can buy a domain for 1 year, 2 years, 5 years and so on.
Since you are starting out, I would recommend you buy a 1-year domain as it is cheaper. You can even buy multiple domain names for 1 year to increase your chances of seeing success!
4. Selling the Domain
Now you’ve bought a domain. One which you believe will hold some value down the line.
Thats great! It’s now time to sell the domain for a bit of cash.
Remember that all the domains will not sell for a high price and some might not sell at all. That’s why it’s important to diversify and buy multiple domains in order to get the best results.
Be patient, don’t sell instantly. You bought these domains for a long-term success goal, not some easy money. There’s no such thing as easy money.
To sell your domain you can list it on Flippa and find buyers for that domain. See Flippa’s guide on how to sell domains.
Finding Expired Domains
One way to find domains that are likely to be valuable is by finding expired domains.
Expired domains are those that have been registered but are no longer active. Domain names expire when the owner fails to renew them on time.
However, just because a domain has expired, does not mean that it is automatically valuable.
You will still need to evaluate the domain to determine its value.
There are a few ways to find expired domains:
Domain Name Auctions:
There are a number of domain name auction websites where you can bid on expired domains.
To find these auctions, you can do a Google search for “domain name auction” or “expired domain auction.”
Some of the popular domain name auction websites include GoDaddy Auctions to find expired domain names.
Expired domains are great because they are aged domains(google likes them) and have more backlinks hence are more in demand. That means people will pay more for them!
Final Thoughts
At the end of the day, the money you make will be based on your own research. Pick a domain you believe will carry some value.
Buying multiple domains for cheap will increase your chances of seeing some success. I have to still not that this is not always the case, but hey, it’s better than having one domain name.
What are you waiting for? Head to GoDaddy and buy your first ever domain today!
Sold domains before? Let us know your experience in the comments below.