If you spend much time online you will find many e-books and courses that claim they can show you how to make obscene amounts of cash with hardly any effort. One of the more popular methods for making money online is learning how to buy domains, putting a site up and then selling the site. It’s not that hard and it can be incredibly profitable if it’s done right.
Some people would have you believe that you just have to be lucky and get a great domain name and sell it, that’s ridiculous. No one should ever base their online business on ‘luck’. That will be a very stressful business to live off of. Instead follow some simple steps to optimize your chances of success when you learn how to buy domains.
There aren’t any guarantees of course, this process is part science and part art. You can do all the research and based on that think you’ve got a great domain name but just can’t sell it. That is the way it goes, but more often than not, if you take careful steps to buy a good domain name you will be able to flip it and make good money.
Keep in mind that the average price for a domain name is around $10 (less if you buy in bulk) a hosting account will cost you around $10 a month and you can put up a blog style website for free after that. With such a small input of cash, how much do you really need to make? Basically anything over $20 would be a profit.
To increase your chances of making money take a little time and get some traffic and sales from your domain name. Doing this will enable you to get a higher price when you go to sell it. You don’t have to make thousands of dollars, usually even just a few dollars in Adsense revenue or affiliate commissions will help you sell the site more quickly and for more money.
Learn how to buy domains for flipping and you can easily add another revenue stream to your online business. The beauty of an online business is that you can have multiple streams of income going simultaneously with little extra effort thanks to all the automation available.