I was really pleased with my adventures into domain brokering last week. It’s made me appreciate that even if there are thousands of other people trying to make money online in the same way as us, very few of them really know what they are doing.
With just a small amount of money you can profit from buying an easy-to-remember domain name and then selling it on at a (much) higher price.
Typically it costs less than $10 to register your own ‘.com’ domain name. You may have heard stories of people who’ve sold domain names for millions of dollars but these occasions are now quite rare. What is realistic however is to buy a domain name for $10 and to sell it for a few hundred dollars if you do your research correctly.
Most domain bounty-hunters approach this business wrong. They search the internet for keywords in the hope of finding an overlooked domain that is still for sale. This kind of strategy may have worked 10 years ago but it’s now possible to feed an entire dictionary into domain search engines, so all the obvious keywords are long gone. You will be competing with far too many people if you try this traditional strategy. You MAY strike it lucky and discover a much-forgotten website name that’s been overlooked but I seriously doubt it. Most likely you’ll end up bored and disheartened before then and there is a better strategy to use.
Rather than try your luck with this kind of hit-and-miss approach, you can make money in a way nobody else is doing. My idea is to search for available domain names first, and then look for a use of them afterwards. This is a great way of finding a domain that your competitors have overlooked.
The niche I choose to work with is to use some domain hunting software and to get it to check for every 4-digit domain name that is available to buy. Using this software and spending some time doing Google web searches allows me to hunt down some uses for the domain names. A more advance strategy that I’ve used beyond that is to cross-reference all 4-digit domain names with ticker symbols of listed companies. I consider that these domains may become prime internet real estate in the future.
I tried my strategy on one website last week using some domain hunting software. In less than one hour’s work I’d discovered a domain, found a legitimate use for the domain and sold it for $491 profit. It’s success stories like this that make me realize just how much opportunity this system has.
I find more than one potential customer for any domains I register. If I can do this then I can email a number of different people and companies in the hope that at least one will be interested in buying the domain from me.
Try not to get excited and buy too many domains at once. To begin with I suggest buying no more than 10 domains. You might be delighted with the domains you’ve found but you may find that other people are just not interested in buying them. If you can buy 10 domains and sell just one for $100 (should be reasonably simple) then you have 9 domains that have effectively paid for themselves. Any more domains you sell can be sold for pure profit. Any domains you fail to sell after 12 months will either be lost, or will cost you a further 12-month registration fee.
I wish you all good luck with any venture you undertake.