What Is Domain Flipping: Everything You Must Know
What is Domain Flipping?
Domain flipping is basically buying a domain name for cheaper and selling it to someone for higher. By doing so you get to keep a profit in the process.
A domain name is not as same as a website. It is just an address on the web. A website is a whole another thing where contains images, videos, and many multimedia content. But every website needs a domain name to set up.
Flipping domain names is simply buying and selling domains like any other business model. When you flipping domains, you are transferring the ownership of the domain to the buyer.
How To Flip A Domain
As I said before domain flipping is an easy process and you don’t need to complicate it. I will explain the perfect and most cost-effective way to make money with domain flipping.
Step 1 : Find domain names to buy
First of all, you need to figure out a domain name idea. You can’t just buy some random domain and expect it will sell. That might be a real bad thing to do.
Instead, you should do proper research about what domains should I buy?
Will it worth buying? Will it sell? So, there are few things to consider before
buying a domain name.
Most popular domain extensions are .com, .net and .org . Aside from these extensions there are plenty domain extensions that will have different value in it. But most of you have met domain names consisting extensions I mentioned above. For example, think about google.com, youtube.com, facebook.com etc.
When you decide to buy a domain, I suggest you to select a domain name which consist any of the above extensions. I will give you PRO Tip, .com will sell much faster and have more value than others. So keep that in mind when purchasing a domain.
Length of the domain name
When choosing a domain name, you must think about how long it is. If it is longer than two words you might not get a good chance at selling it.
Value of the domain
If a good domain is available to buy, you must check how much actually the domain is worth. Yes maybe the domain is available to buy for $9, but if you check deeper you will understand it is far more valuable than the current price. You can check the domain value from GoDaddy Apprissal.
Step 2 : Where can i buy domains to resell?
Well, at this point you have done your research and decided a domain name for purchase. But the question is, where do I buy domains?
There are many places on the web where you can purchase domains. But the thing is the prices may vary. However, you are lucky, because I found the best domain name provider which not only provide cheap prices and also better support.
I personally use Namecheap.com to buy domains. Because their prices are so cheap and reasonable. You won’t find any domain provider which have these price margins.
You can visit Namecheap.com and check if the domain available to purchase. If it is available then you can purchase it with few button clicks.
Step 3 : Where can i sell my domain name?
After purchasing the domain you need a place to list and sell the domain name. For that, you can either list your domain in the purchased domain provider’s marketplace or use third party platforms that allows domain parking and domain listing.
But the downside with third party platforms is you gonna have to pay much fees for listing, selling, parking etc services.
Best solution for this is to list your domain in Namecheap Marketplace. It is like a selling hub which consists of many domain names. You can list your fresh purchased domain name and list it in the Namecheap marketplace for FREE. They don’t charge any fees for listing or parking fees. Namecheap only charges a tiny percentage when a sale is done. It is not much.
Your only job is to purchase the domain with Namecheap and research the value of it and set a price for the domain and list it in the Namecheap marketplace. When someone searches for your domain name keywords your domain will popup presenting your price.
Keep in mind that people won’t need to search the keyword only in the Namecheap in order to find you. If they search it any domain name provider your domain name will popup saying it is already acquired and here is the price of it if you wanna buy it. How cool is that right?
Within just 3 steps you can buy and sell a domain name for a profit. See…! flipping domain names is not that complicated.
Is domain flipping profitable?
Yes, flipping domain names is profitable and you can do it as part time or full time if you want to go all in. But the profits depends on the domain itself. Sometimes you can have thousands and sometimes it will be hundreds when considering profit margins. But it’s all worth in the end.
Think about these domain flipping business as some kind of a investment. You buy certain domain at a lower price then selling it for a higher price because in time the value of the domain increases. And the profits will be remarkable.
How much money can you make flipping domains
If you purchase a domain for as little as for $10 and sell it for $100, you receive $90 profit. Sell only one domain per month, at the end of the year you have $1080 extra profit. Flipping domains can be profitable if you make it.
People that are flipping domain names as part time side hustle earns about $1000 – $9000 per year while people doing this full time earns around $40,000 – $100,000. The reason for this is when you treat Domain Flipping as a full time side hustle you go deeply in to it. You have the time to research more ideas, research trending keywords etc..
How long do domains take to sell
Well, it depends solely on your domain name. If you have a high demanding domain it will sell within a day or within a month. However, if it is not that good it will take years to sell the domain. But you can speed up the process if you have good marketing strategy behind flipping domain names. That is the beauty of Domain Name flipping business.
Remember, there are many rules wrapped up according to the domain name provider that you choose to purchase the domain. Some domain name providers won’t allow you to sell a domain just after you purchase it. They will give you time frames before listing a domain to sell.
But like I said, Namecheap is the best place to purchase domains, they do not put restrictions to listing domains. You can purchase a domain name in this very moment and list it on the Namecheap marketplace in the next second. That is why I recommend Namecheap as a reliable and reputable domain name provider.
Pros of Domain Flipping
Flipping domain names can be a decent side hustle or full – time business if you are serious. But don’t get too excited to make millions and billions by doing domain flipping because that is so rare. Don’t get me wrong, people make a living by doing domain flipping business and some are earning six figure profits annually. If you are good at coming up with creative ideas this business would be perfect for you.
Cons of Domain Flipping
The biggest problem you gonna face when doing domain flipping is finding good domains to sell. Currently there are over 360 million domains already registered around the web. So finding a perfect domain to sell for a profit is very hard. But that doesn’t mean it is not worth the time. You will have to spend many hours to find ideas.
Also remember flipping domain names is not a get rich quick scheme. You can’t get rich overnight by doing any online business including domain flipping. And there is no guarantee that all your purchased domains will sell. Like I said, the selling solely depends on domain name and methods you are using to sell it. Some domains will sell and some will remain. That is just the nature of domain flipping.
Is Domain Flipping Legal?
Yes, domain flipping is a crystal legal business model. What is not legal is purchasing trademarked domains and selling them easily because of the reputation holds by the trademarked company.
In simple terms, We all know about Apple.com , which is more reputable and popular company domain name. If you happen to find Apple.net domain and decided to purchase it and sell it for hefty amount that is not LEGAL. In technical terms it’s called Cybersquatting.
To make money with domain flipping, you should have the ability to brainstorm creative domain names and find valuable domains around it. If done correctly you will be earning six figure income just by flipping domains.
The best way to make money flipping domain names is to buy new domains at a lower price. Namecheap.com is among the top domain registration providers in the world. You can purchase domain names starting $9 from Namecheap.