Make Money Online - Domain Name Flipping
By Mohamedali Walji
A domain name is the address of your website. Domain name flipping involves the purchase and selling of a new, in-use, or expired domain name. Here are some of the basics of this method to make money online:
Domain Name Selection
There are several factors that need to be considered while selecting a domain name to flip, including demand, price, extension, etc. Taking into account all the important factors can help you significantly increase the return on investment. Here's a look at some of these factors:
The first thing to consider is the demand of the name. Ideally, you would want a lot of people interested in your domain name so that you can maximize your profit. One way of searching for names is to select a niche and find what people search for online within that niche. You can do this by using a free tool such as Google AdWords: Keyword Tool. This software will show you the number of local monthly search as well as global monthly searches for the entered term. You can also brainstorm names and try your luck.
It's a good idea to make a list of names. After making the list, check for the availability of the names by visiting a domain seller's website. There are several websites selling domains, such as namecheap.com, godaddy.com, and bluehost.com. These sellers may also provide you with some useful name suggestions.
After checking for availability, you may find that one or more of the names you want are already registered. If you really want one of the unavailable names, you can place a backorder. Check the WHOIS information of the domain to see if it is expiring soon and place your order. If the buyer does not renew registration, you will get the chance to own that domain.
Extensions come after the dot (.) of the domain name. There are several extensions available these days, such as .com, .net, .biz, .info, etc. The .com extension is the most popular and it is believed that this extension helps with search engine ranking of a site. However, depending on the domain name, another extension may be more suitable.
Price generally varies by seller and by extension. You may get a discount for bulk domain name registration. Godaddy.com is known to offer cheap domains.
To sell a domain, you can enter it into an auction. There are several sites where you can put up your domain for auction. Before selecting a site, you should learn about the associated costs, auction period, and domain visibility. One of the popular domain auction sites is Sedo.com. This site offers standard auctions and special auction events in which only generic, high quality domains are auctioned. Selling on eBay is another option.
You can also sell your domain through forums related to the site. However, you should be careful while dealing with buyers you find on forums, because there is usually no method of confirming that the buyer will pay you after you transfer the domain.
Domain flipping can help you earn a steady income online. Try to find some good names and then sell them at the right places.
Mohamedali Walji is starting his career in internet marketing and is sharing information on the various ways of making money online.
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