The internet has always been a favorite for many seeking to make some extra cash from home.
And while ways of making money online are vast, flipping domain names still is and remains alluring to many.
The idea that you could buy a domain name, or be already sitting on one with such valuation to someone else in the thousands if not millions is always appealing.
And the speed at which you could sell a winner domain, makes this seem like a lottery game of sorts to some.
And why not?
If a $10 investment could be turned into thousands of dollars within a week?
Truth is anyone can make money selling domain names online.
In fact, visit Namebio and take a quick look-see on the recent domain sales. Or visit DN Journal and read this week's top public domain sales.
The opportunity clearly is there.
But, in all seriousness…
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Can You Make Money Selling Domain Names?
Short answer, YES!
You absolutely can.
Even during my testing, sometime back, I sold one and lost another out of pure laziness on my part.
And while your chances of selling domain names in the millions could be slim.
Going modest with the right mindset could net you tidy sums regularly.
But the point remains, you absolutely can.
Here's my payment for the domain.
Here's the incompetence being pointed out.
Apparently, I bought a domain and did not update its Whois details making me unreachable. This led to me losing out on a profitable opportunity (What a rookie 🙁 ).
But hope this shows you, the opportunity is there. And if you have a domain someone else wants, for your own sake, be reachable. 🙂
How To Make Money With Domain Names.
There are several ways you could make money with the domain names you own or going to buy.
But since this post is all about flipping domain names, we shall look at them briefly.
1. Domain Parking.
Essentially, this is making money off of used domains from ads.
This is done by setting up a “This domain is for sale” landing page with ads on it or by using third-party websites like Sedo or GoDaddy to manage this for you.
The volume of parked domains you have, however, will determine its profitability.
2. Domain Renting.
This involves allowing someone else to use a domain name you own, but don't want to sell, while being compensated monthly or for the agreed upon period.
This makes it possible for businesses to free up their capital while testing out new ideas with premium domains. So, not only do you get to help others but also stay profitable.
To do this, seek our domain rental specialists like NameForest.
3. Site Selling.
This is lifting a domain's value, to be worth more, by setting up a website on it then flipping it.
This could mean making it a micro or even a fully fledged website, complete with traffic and ongoing revenue.
And whether it's a starter or an established website, sell it on a website like Flippa for a huge payday.
4. Domain Flipping.
Finally, what you've been waiting for.
But first, to understand what this is…
What Is Domain Flipping?
Domain flipping is reselling a domain name at a higher price than you bought it for.
This is made possible by instinctively spotting undervalued domains you could resell for much more, if not for their real value, later on.
And while my example above isn't all that impressive, the following people's domain flipping success stories sure are.
Domain Flipping Success Stories.
Why should you care about other domainer success stories?
For faith and trust in this business.
And you know what they say if they can do it, so can you!
1. Page Howe.
Now this guy despite his early business challenges sold not just one, but two of the world's most expensive domain names. Seniors.com for $1.8 million and Guy.com for $1 million, a few months of each other. Incredible!
2. Ali Zandi.
Ali Zandi, a professional domainer, made $7,500 in just two weeks of starting out as a domain flipper. Off of domains he had just bought and listed as a bundle for sale at an auction.
He is also the guy who made a $58,000 profit in just 60 days flipping 8 domains. And if that's not successful enough for you, how about he closed the second highest domain sale of 2017 (Freedom.com) for a staggering $2 million.
This guy registered an expired domain name a UK based women's clothing company had previously used for $10. Only to flip it the same year for $2,600 in cold hard cash. Neat!
There are so many other stories of successful domain flippers to list them all. But it's my hope that these four stories (mine included) are good proof in its possibility for you.
How Much Is Your Domain Worth?
Before you can run off to list your domain for sale, for thousands or millions of dollars.
It's good practice to assess it's worth.
This could mean having a winner on your hands that everyone wants or being ignored for being too greedy.
And the best way to do this is by checking recent sales of similar domains.
To help you with this, you can use estibot, but I prefer GoDaddy's domain appraisal tool.
Now, not only can you use these appraisal tools to find the valuation of domain names you own, but for new ones, you're about to buy.
But where is the…
Best Place To Buy Domain Names To Flip.
Allow me to introduce you to my favorite four, best places to buy domains names for flipping.
Note: Each one of them has got their own marketplace for selling domain names conveniently. How cool is that?
Without a doubt, the #1 place to buy domain names is Namecheap. Not only for their modern and user-friendly website design but also for their fair pricing.
I've been buying domain names from them for years and even hosting with no issues.
And best of all their support system is always instant and very helpful, if and when, you need them.
Coming second in my favorite list is GoDaddy.
This goes without saying but GoDaddy has proven itself to be a trustable company. One you can be assured of the safety of your domains with.
And same to Namecheap, I've bought domains and hosting on their platform and never once have I ever had an issue.
Next up, is Bido.
The domain auctions and brokerage website for finding and buying flippable rare domain names for cheap.
And while it might sound new to you, it might please you to know it has been around for over 10 years.
Also, it's where I bought the two domains in my example above.
A simple look around and you'll see dozens of brandable and rare domains you could buy and flip for a lot more.
Don't take my word for it, visit them for a quick look-see. You might just find your winner domain waiting for you.
4. Just Dropped.
Another favorite of mine and unlike the above three, you get the heavy lifting already done for you.
Rather than having to go rummaging through deleted domain names, wasting your valuable time.
Just dropped cherry picks the best brandable domains dropping, ones with quick flip potential. And lists them for sale with a minimum of $69 for your convenience on a daily basis.
It gets none easier than this.
And to get this amazing daily list of brandable domain names, visit their site here.
Be warned, though, not every domain you buy or register will be a winner.
And if you're not careful, you could end up wasting a lot of your hard earned money.
So, to combat this and increase your chances of success. Learning from the best domainers will be crucial. This might also mean having to take a course on this.
But to learn how to best choose your domain names, here's a post by Youssef Akkari, on the 4 steps to selling your first domain. It's worth the read.
And also a video on finding powerful expired domains to register.
How To Sell Domain Names For Profit.
Let's kick this off with a little motivation before diving in with the method.
Did You Know: The most expensive domain name ever sold was Cars.com at $872 million? Source: GoDaddy.
Here are the top 5 most expensive domain names publicly reported.
1. CarInsurance.com — $49.7 million
2. Insurance.com — $35.6 million
3. VacationRentals.com — $35 million
4. PrivateJet.com — $30.18 million
5. Internet.com — $18 million
You can see 20 more listed here by GoDaddy on this post.
And while that's old news, see the following current domain sales.
Hope you're now motivated enough with the possibilities of riches?
Let’s then see how you can start selling your domains with these domains flipping websites.
Note: Since video tutorials are always best and with fewer chances of getting lost or confused. I've found the best ones to help you with the process where applicable.
Flippa is super trustable and the go-to place for buying and selling domain names among other digital assets.
Thousands of domains are sold on this website daily, and it’s thus a good ground for learning what's selling, why and even for how much.
Listing your domain name for sale on Flippa is very simple. Visit there website here, create your seller's account and verify your account (they’ll send the link to the email you used to register.)
Once this is done. From your dashboard. Click on the “Create a listing” link under the Selling section and simply follow through until you complete the listing process.
This will involve the domain's details, how you'd like to sell, promote and also get paid, then finally the verify.
Note: Listing here isn't free. You must pay for either their basic or featured listing packages, $15 and $65, respectively.
But if the pricing isn't worth it for you, consider the following ones.
Selling domains on GoDaddy is straightforward and one with no confusions.
Follow along the video tutorial below from Data Glasses to see how you‘d go about listing your domain name for sale on GoDaddy auctions.
Note: You'll need their annual membership which costs $4.99. This will enable you to bid, purchase and list your domain names for sale.
Afternic is also another good place to sell your domains.
The close I came to selling on this platform was from yet another blunder on my part. Listing my domain misspelled, so when the buyer came calling I had to apologize.
That was very unprofessional of me. Part of the learning curve. And on this journey, one’s bound to make mistakes from time to time.
Anyway, here's a quick guide on listing on their website from Ali Zandi, with an extra tip.
Other Noteworthy Sites.
Other noteworthy sites you could consider listing your domain for sale on, would be such as Flippa, Sedo, Domain Market, namePros, Digital Point, BrandBucket, and eBay.
Personally, I sold mine on eBay.
So, yes you can sell domain names on eBay but usually, at bargain prices.
Which also means you could buy domains at fair prices and flip them for much higher margins on the above websites.
Now once your domain sells, all you have to do is push it over/transfer it to your client's account. This is usually done by using their username and email associated with their account.
And once the buyer receives it, he/she can then transfer it to their favorite registrar if it isn't already them.
Now, that you know how to sell your domain/s on these awesome market places.
It will be upon you now to take action.
I shared lots of the mistakes I made, to help you realize you aren't alone if and when you make them. It’ll be part of the process.
You can make money selling domain names online, and it's not even a question of if you can. But your determination to learn and implement while keeping a positive mindset is what will make or break you.
That's it from me today and how to make money selling domain names online for profit.
But I would like to hear from you in the comments below. What was your biggest mistake selling domains names, where and how did/do you sell yours and what have you learned?
Your comment could lead to someone creating another source of income bettering their family life, all thanks to your comment.
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See you in the next post.