In the context of internet marketing, the concept means buying a domain name at lower price and later selling it at higher price value. I will tell you how to make money flipping domains
Why flipping domains?
Firstly, the primary purpose of choosing a domain name is to create a website & promote anything in that website. It sometimes happen that your website doesn’t really yield good results or your website doesn’t attract visitors, or it may be that the domain name is unpopular among other site.
Or it may happen that, you are running short of ideas on how to develop & maintain the site. You then decide to abandon it and focus on others sites. The company where you purchase the domain name requires you to pay yearly registration fee. If you fail to make payment, your domain name will expire & you can’t do anything about it.
The registry company will send your domain name for sale & generate money for itself, because they don’t need it in their database. It may happen that the domain name owner dies or leaves the internet platform, they’re many reasons.
Selling domain name
Since you don’t need the domain you let it expire at the end of the year period, the registry company will place it on auction. Now that you want to part ways with the name, you are free to sell it to others, who need it, in order to recover the price you pay when you purchase it.
In the normal course of event, domain names price gradually increase year after year depending on its popularity. You may purchase it at $9, 99 and only to find that after a year or two the cost price has increased to $13.50. You then sell it at that price.
You may ask, how do you check the domain name selling price? You can check at FreeValuator.com. I had purchased this one of mine at $9.99 at Namecheap.com. The current price value in case I decide to sell is $241,74 ($241,74-$9,99), $231,75
This domain is only one year old, I had purchased it on 30 June 2015
How then do you make money flipping domain?
As I have alluded above, you buy domain name at low price and later sell it at higher price. There’re many site that promise to provide this money making method. However, I’m not a fan of money making projects. I had said in here that making money with anything, is not a sprint, its a process. If you check my example in this blog, it took me a year for the domain price to be cost that much. Remember, it’s a name of this website. The selling price is so high than it was initially purchased, because it has a lot of content & it’s search engine optimized.
Let me give you a tip. If you want to be successful with domain name flipping, you must buy as many domain name as possible. You keep those domains (at least 15 – 20) for a period of one year, then sell all of them for profit.
Before I forget to tell you. The domains, I’m referring to above must be profitable domain. Simply buying a domain name, keep it for purposes of selling later won’t help you much. You need to know what you’re doing, if you want to make money. Lean more about how you can make money with domain name flipping.