(FinancialHealth.net) – Flipping domain names isn’t a new concept. In fact, many people make decent amounts of money buying and selling them. As with anything you’re selling, the key to making money with this concept is buying low and selling high. However, in order to make a decent profit, you need to know the difference between good and bad domain names, and how to determine its potential worth.
Finding Domain Names to Purchase
GoDaddy isn’t the only domain name registrar out there. You can also purchase website addresses from sites such as Namecheap, Domain.com, and Name.com. You can purchase domains that were previously registered by someone who decided to let it go at websites such as Just Dropped or NameJet, and many others, too.
Domain Names Worth Buying
The name of a website is important to the website owner, but that doesn’t mean that they are willing to pay hundreds of thousands of dollars for the domain they coveted. So, you need to make sure you’re purchasing good website names at a decent price. First, avoid any names with misspelled words or random numbers. It’s also better to purchase a domain name without hyphens than it is to purchase one that uses the same wording, but has hyphens. Also, remember that .com’s aren’t always the best type of domain name. Often, websites built using .net or .org are just as easy to rank with the search engines, so there’s a possibly you could make a small profit if you find a good one.
Additionally, if you purchase a previously registered website name, you should use Moz’s site checker to see if the domain name already has a pagerank and backlinks. Domain names that are aged, and have a pagerank and backlinks often sell for higher prices.
Selling Your Domain Names
Once you’ve purchased your domain names, you need to find a buyer. Fortunately, there are bidding sites specifically for people to sell and buy website names. Flippa.com is one of the largest domain name marketplaces online, but you can also use websites such as Domain Market and Sedo. Both GoDaddy and NameCheap also allow people to sell website addresses to the highest bidder.
Ultimately, learning how to make a decent amount of money flipping domain names takes a lot of patience and practice. You’ll go through a lot of trial and error before you find the method that works best for you, but the payoff is worth the effort.
~Here’s to Your Financial Health!
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