The Internet is full of money making opportunities. There are people that use the Internet to market their products and services, market others products for a profit via PPC, those that use SEO, and people that buy domain names that could someday sell for giant profits. For those looking into one specific way of using the Internet to make money, flipping domains is a very profitable region to participate in.
What domain flipping is, in essence, is taking a website that has previously been built up or a completely blank domain name, adding content, marketing it more, building up a bigger audience, and then selling it for a quick profit. The best domain flippers can make several thousands of dollars a month doing this, and honestly, it may have only taken 50 or so hours of work. It is extremely profitable when the practice heads down the right path.
If you’d like to flip a domain, you either need to have a website already built or have an empty domain name. If you don’t have one, domain flipping can be made a bit easier by purchasing a website that already has its navigation and some content set up. There are hundreds of communities online where people buy and sell new and used websites. The main idea behind domain flipping is to buy low and sell high. Buy a website that you think has lots of potential, you are at least somewhat interested in, and something you are willing to put a little work into.
Say you purchased a website for $100 dollars, and your goal is to sell it for $1000 dollars. This is easily doable in 1 – 3 months depending on how dedicated you are into putting extra work into it. To flip that domain into $1000 dollars, you may have to write new content and upload it on a regular basis. Try to use articles built for SEO use. This will help you get more traffic from search engines. The more unique visits you have each day, the more likely you will be able to sell that domain for a profit.
Another tactic that will help you flip that domain and gain more cash is by showing that it is already making money for you. This can be done by integrating ad services like Google Adsense or Kontera into the webpage. You may want to try selling individual ad spots for a monthly fee, as well. Many webmasters use a formula based on monthly profit from their websites to price them. They take 10 to 12 months of one month of profit to base their BIN price. So if your website can make 100 dollars in one month, you could easily sell it for a $1000 dollar return.
The main ideas behind flipping domains include adding content, marketing for more traffic, and making the domain more profitable. There are many more tactics you can take to flip a domain. In many cases, seeking a buyer that is willing to pay more than you paid could help make a sale. The domain flipping business does take a little work, but with effort and patience, domain flipping can become a huge payoff.