How To Make Money By Flipping Domain Names
Learning how to make money by flipping domain names can be challenging not only for beginners but also for more advanced online marketers.
As a business model sounds exciting, spending a few minutes to find a good domain and just relax waiting to be sold. I guess the most guides on the internet recommend stuff like that.
However, most people have the following three problems when they begin:
- They cannot find or they do not know how to find a domain that is worth to buy it
- When they find one that looks a nice one, they do not know where to sell it
- Even if they have used all the possible marketplaces, still they cannot give their domain names even for a few dollars
I cannot promise that you will be ready to make money after reading that article but you will have a guide in your mind and a place to begin. Also, you will see how I find profitable domain names.
With a few words, today you will learn how this business model works, I will give you some guidelines, you will discover my favorite training for domain flipping and I will reveal you a unique software to find dozens of domain recommendations in a few minutes.
Many of you may wonder why a domain name has so much value and why can be sold for thousands or millions of dollars. The answer is that every domain name is unique. For example, my domain makemoneybay.com is registered on my name and no one can use it or take it without my permission as long as I remember to renew it once a year.
If someone feels that it is a great domain name to build a business on it (a site or a blog) he must ask it from me.
The good news is that there are unlimited domain names available but the ones that are obviously valuable are already taken. Does it mean that you cannot find good domain names?
No, it just means that you need to dig deeper.
In my opinion, there are not dead markets on the internet and they will not be for many years because more people use the internet every year. So, in the future, there will be more buyers and more marketers to cover all the needs of the market.
It makes sense that if you have in your possession domain names that can be sold, their price will be increased in time. But it does not mean that it is worth buying every domain name you see.
The Business Model
Your business plan is to buy low and sell high.
An unregistered domain name costs almost $10, sometimes it costs more and sometimes less depends on the variation (.com, .net, .org).
Then you will list it on an online marketplace like Flippa, Godaddy, Namecheap and more. There are many marketplaces, you can find many of them with just a Google search.
You follow a simple process to list your domain and you wait, someone to bid or buy it. There are many ways to sell a domain name like an auction, offer/counteroffer, on a fixed price etc.
At that point, I want to mention that you need to be patient and have a budget to spend. It is not an overnight process, some people keep their domains for years until finding a good enough offer. However, sometimes you will sell them fast.
As I said above, when you register a domain name you will pay almost ten dollars. Also, it is not a secret that domain names have been sold for millions of dollars. You can understand that the guys who flipped that domains are now millionaires.
- Insurance.com for $35.6 million
- VacationRentals.com for $35 million
- PrivateJet.com for $30.18 million
- Internet.com for $18 million
Here is a list of the most expensive domain names.
Sure, there are not many chances to find a domain name that is worth millions and most people in that business will never become millionaires. However, the opportunities are out there waiting to get discovered like any other business.
Also, there are many people who make thousands of dollars per month by flipping domains and you will see later on that post how exactly they do that.
Who Is Domain Flipping For?
The truth that anyone can start flipping domains for a profit. It has a learning curve but nothing too hard or complicated.
I think you will need a budget of 100-150 dollars, starting with only one domain name is time-consuming. You may get disappointed if you do not manage to sell it and give up.
So, having a budget and use a strategy that works hopefully, will help you to make a sale soon and get a better understanding of how it works.
How To Find Profitable Domain Names
You need to understand that if you want to find profitable domains, you must be ready to spend a lot of hours on research. As you get more experienced, you will be able to find opportunities faster.
I will show you two examples of tools you can use to get ideas.
1. Adwords Keyword Planner
The Adword Keyword Planner is the keyword tool of Google that helps advertisers to find on what keywords they will bid. It is free and we can use it for finding domains.
Let’s start, if you have a Gmail account, use your username and password to log in. When you log in, you will see the following page:
You enter your keyword in the section for your product or service. On this example, I will use the keyword weight loss and click “Get Ideas”.
Below you can see some of the results:
Now copy these keywords, go to your registrar and check if any of them is available. Weight loss niche is a competitive one and you should expect all these domains to be taken. However, if you scroll down that list, you may find an available one with many searches per month.
After scrolling down that list, almost every .com domain that was making sense was taken (it is worthless if it does not make sense). There were some .net, .org available but I prefer the .com domains because they have more value.
I found some .com on low search keywords. I got only one of them with 1k-10k searches. You are looking for 2-3 word domains except if they have too many searches (10k+).
These keywords are great for affiliate marketers like me who want to build niche sites. You must check out many niches and make a research for many hours if you want to find 10-15 profitable domains.
2. Domainer Elite Software
Domainer Elite is the program of Jamie Lewis. He created that program to help beginners like you to get into that business. You can read my review here.
The program has two software, Domainer Elite Pro and Lite. You can see how the Lite works in the video below.
The Lite software costs $24.95 and you can get it here.
The domain names you will find with that software are not exact keyword domains like the example above. So, they will not have any value if they are not short, easy to read, remember and type.
You should use the valuation tools for these domains and do not buy them if you are not sure that they are worth at least a few hundreds of dollars because you cannot use them in any other way like the exact keyword domains.
The Pro software is more powerful than the Lite and it can help you to find even more keywords in a few minutes.
How Much You Can Earn By Flipping Domains
I have made some sales of domain names before but my main business is to build niche websites. But you can see guys like Jamie Lewis who earns massive amounts of money.
If you search for domain opportunities consistently, you can absolutely earn thousands of dollars per month. As you can understand my recommended training for the flipping domain business is Domainer Elite.
So, here is how you can get started. Use any of these two strategies to find 10-15 profitable domain names and list them on well-known marketplaces.
Jamie’s software and the marketplace for members only inside the program can be an advantage if you use it with the right way.