The Truth About Domain Flipping
Many people think that and it is promoted that domain buying and selling is an easy methods of making quick money. Stories of having made $20,000 in a month with domain flipping can be very motivating. And that sort of stuff does take place. (check the 100 biggest YTD domain name sales). But these deals are not so easy. Anyone who flips domains for a living will tell you the amount of hard work and skill that goes into it.
Flipping domain names is an active trade that requires your time and attention. Anyone who thinks that they can just buy a few domains, list them at the popular domain buying/selling portals and watch the money flow in, is highly mistaken. Domain flipping is about spotting the right opportunities at the right time, involving strategic buying and selling of websites for profit.
Many people believe that domain flipping can be learned and you can make money in 10 hours per week. The truth is that it requires at least a year time to learn the basics of the domain flipping business, leave alone making huge money from it. You’ll make several mistakes, buy useless domain names, lose out prospective deals and much more. Domain flipping is far from any get rich quick method.
Just because someone spent five or six figure amount on a domain name doesn’t mean that someone will spend the same money on a similar name. Every domain name has a story behind it.
Many domain flippers start out in this industry making no more than a few hundred dollars per month by putting in at least 50 hours of work. This translates into working for as less as $ 3 – $ 4 per hour initially. Are you prepared for that?
Domain Names Worth Buying
Brandable Domain Name – Brandable domain names are those that are creative. It has to be interesting and catchy. There are domains that are sold for thousands of dollars. But it’s not for the keywords in them, but because they sound like brands.
Easy to Remember Domain Names – A domain that is easy to remember is easy to market and promote to people. Businesses like to acquire domains they can easily promote. Nobody wants to build a company website using a domain that people can’t remember.
Short Domain Names – Try to keep the names as short as possible. 4 letter domains and 1 word domains sell at high prices. 2 word domains are still great.
Keyword Rich Domains – A keyword rich domain name is a domain that contains the keywords matching the actual business.
SEO Domain Name – You have to find the words that have a huge demand in terms of search and traffic.
Popular Domain Name – Popular domain names are the ones that are formed with commonly used words. They are obviously a part of SEO domain names but their values are in millions if spotted correctly. The most popular ones are the adult words and useful products like insurance, fund, hotels, beer, diamond and likewise.
.COM Domain Extensions – If you have a business, your customers assume that you are using a .COM domain, not any other extensions. So most businesses would love buying .COM domains only. Half of all domains that were sold last year were .COM domains.
The Right Value of the Domain – Before you can start flipping domains, you should be able to judge the actual value of a domain. The real value of a domain lies in the number of backlinks it has and the relevancy and the quality of these backlinks.