Its almost impossible to turn on the TV nowadays without running across some sort of show about people buying old homes, renovating them and then selling them for a profit. This is known as flipping, but its a technique that is not solely reserved for the real estate market. The internet allows you to make money in all kinds of different ways and flipping is a method that you can actually employ to make a lot of money with very little effort. We are of course not talking about homes, but rather domain names that are very much in demand.
It seems as though everyone has a blog or website of some kind, which means the need for a domain name is now higher than ever before. With so many people looking for unique domain names, the number available becomes less and less. It is this combination of supply and demand that you can take advantage of in order to make money. What you need to do is try and anticipate what sort of domain names are going to be in demand. You can then snap them up cheaply, sometimes for as little as a few dollars, and then sell them or auction them off when people come looking for that particular domain.
Have you ever gone looking for a domain name, only to find that it has already been snapped up? Chances are you have, and what makes it more frustrating is that no website exists at the name you wanted. This may not be a sign of laziness on the part of the domain name owner, as it may in fact be someone who flips domains being ahead of the curve and knowing that particular name will be in demand. They will have their contact information listed in the domain name registry, allowing you to contact them and make an offer on the domain name.
The amount of money you can make from domain flipping really depends on how in demand that name is. In some cases you might only make a few dollars on a domain name, but in a situation where more than one person is involved, you can benefit from a bidding war that the name sparks. Domain flipping requires a good amount of patience, as you may end up sitting on a name for months or even years, but when you consider that it usually costs less than $10 for a domain name, you investment is not that large.
If you want to try and speed up the process, you can build a money-making site using the name you suggested and then sell it for a large return as soon as it becomes profitable. The benefit here is that you will still be making money on your investment for as long as you own the site, with the ability to cash in big increasing with every passing day. This is a process that can be repeated over and over again to make your domain flipping business extremely profitable.
To get started you will need a reliable domain registrar. Check out MeanLion, here you can grab my free report about buying and selling domains the right way.