One of the few domain investing options is domain flipping, which involves purchasing domains and then selling them for a profit. People have a misperception that stockpiling domain names is unethical, however this is far from the case as evidenced by the recent rise of major players in the domain flipping sector, such as GoDaddy and Namecheap.
There are some domain names that are really valuable when it comes to selling them for a profit. For instance, it has been claimed that Hotel.com and Business.com were sold for $11 million and $7 million, respectively. Even while it seems unlikely that you will come across such rich domain names, you can still earn a respectable income if you decide to buy and sell domains as a side hustle.
Who is it Recommended for?
Buying and selling domain names is perfect for stock market and investing enthusiasts and risk-takers.
How much can you earn?
It’s not as lucrative as it used to be but some domain names can be sold for thousands of dollars or even tens of thousands
Depending on how much you’re ready to invest, the starting price for purchasing and selling domains can range from a few dollars to thousands.
Sometimes, a website’s value lies in the domain name rather than the site itself or the traffic it receives. In some situations, they’ll be ready to spend a lot of money to get the domain they want (especially if it’s a.com) because a solid, keyword-rich domain name can significantly improve a company, online publication, or blog.
Since many decent website domain names are already taken (and some are being sold for astronomical prices), this method isn’t as profitable as it was a few years ago, but it’s still a sizable industry.
Here’s what to do to use this money-making strategy:
- Buy a new domain name and get hosting from Bluehost
- Or, buy an existing domain name from Sedo, here (this is the biggest domain marketplace available)
- Sell your domain names via the Sedo marketplace, either on a fixed price or through a domain auction, whereby you sell your domain name to the highest bidder
What do I need to start?
To get started, you need a website and you can build a website with no coding skills with a easy Drag-&-Drop WordPress builder. Get 300+ design templates, 1-click WordPress installation, web hosting & domain registration, all for only $2.95/mo with Bluehost, the #1 trusted WordPress hosting.