What is Domain Flipping?
By Karn Jajoo
Did you know that domain flipping can help you turn $10 into $1000 a short span of time? In fact, domain flipping is not just an avenue to make crazy money real fast; many have made a lucrative business out of this nifty practice.
Now, you’re probably thinking ‘I’m definitely going to give this a shot’. And you should! But first, let’s get you acquainted with what domain flipping is all about!
Simply put, domain flipping is the process of acquiring a domain name with a motive of selling it at a higher cost to someone else. This is very similar to flipping houses or cars, the only difference being that you can’t do much to increase the value of the asset by ‘fixing it up’ and then turning it over for a quick buck. Acquiring a valuable domain name before it is tagged with a premium price is the key to a successful domain flip. Raymond Hackney, a domain investor and consultant, successfully flipped a .website domain (his first on a new domain extension) for a decent profit. Read all about it here.
What else do I need to know about domain flipping?
It will take you time to gain mastery on domain flipping. You might make many mistakes along the way and even lose money over ‘bad investments’. Bear in mind, that’s part of the learning process.
Do not think of domain flipping as a casual or leisurely business on the side. It takes a lot of effort to find good domain names that are available to buy. Therefore, being a successful domain flipper requires your active involvement. You need to have your research skills, negotiation skills and networking skills to be on point.
You can make use of tools such as Google Keyword Planner (to search for volume searches and CPCs), KWfinder, Namebio and EstiBot to search for high value domain names and suitable alternatives.
How do I find good domain names to buy?
When searching on legacy domain extensions such as .COM, target at least three to four keywords to keep your options open.
The opportunity to find good domains on new domain extensions is much bigger. Some of the hot new domain extensions are .TECH, .STORE, .ONLINE, .FUN, .SITE, .WEBSITE and .SPACE.
What should I keep in mind when buying a domain name?
Make sure it does not include a brand name or a registered trademark. You can check for trademarks at www.trademark247.com.
Is it ethical to buy and sell domain names?
Buying and selling domain names is a legal practice; like buying real estate or a car. It is perfectly ethical to make an investment and cash-in on it when the time is right and the buyer is ready to match your quote.
Where can I buy domain names?
There are many registrars that you can go to for buying domain names. Here’s a list of leading registrars that offer good customer service and security support.
Where can I sell / flip the domain names?
You can flip domains as on SEDO, a domain name marketplace. Flippa, an online marketplace for buying and selling online businesses, also allows domain names to exchange hands on its platform.
So, are you excited to start investing in domain names? In my next post, I will take you on a deep-dive into the world of domain flipping for more detailed insights on the subject. Until then, do spend some time searching for valuable domain names with potential.
Karn Jajoo heads the premium names program for Radix’s domain extensions: .WEBSITE, .PRESS, .HOST, .SPACE, .SITE, .TECH, .ONLINE, .STORE & .FUN. Radix has made more than $1.75 million in premium domains revenue in 2017 thus far, including the biggest nTLD sale of all times — casino.online, and the sale of business.site to Google for it’s free website builder, Google My Business. Karn considers himself a new gTLD evangelist and has had articles published in The Next Web, Website Magazine, & CMO.com.
