The key to making money is buying low and selling high. This holds true for stocks, shares, property, business and domains. In the online world there is a realm of business known as domain flipping business. In order to be a successful domain flipper, you need good anticipation skills and some luck – so that you don’t make a couple of bucks, rather thousands of dollars.
The biggest and most reputable place for seeking domain names is GoDaddy.com. The idea is to find trending activities and buy as many domains as possible that are associated with the given activity. It is a risky business though. You may never get any offers for your domains.
The people who made the big money were those who got in early. At the very beginning, when established businesses still didn’t have websites. As a result, those who bought up domain names that would be wanted by long time established business made the big bucks.
Today, any new business will usually buy its domain before anyone even hears of the business itself. This is done in order to fight off domain flippers. No one wants to be extorted.
Does this mean then that it’s too late to get into this business? Well, overall, yes. The big names have already been taken, and most people are smart enough to buy their domains before they can get extorted.
However if you can spot trends you may be able to make a few bucks. If you log onto GoDaddy.com you can search for free domains, and even check out how much other popular domains are going for. This won’t make you rich, but it can be some fun.
