How To Get Started With Domain Flipping (Ultimate Beginner's Guide)
Wait a minute?
‘Is it possible to buy a domain for less than 10 bucks & resell it for thousands of dollars?’
That's right ladies and gentlemen.
You can buy expired domains for quite a low price – then flip them for a huge profit.
There’s a lot of people out there who're making a full time living with domain flipping.
And the beauty part is that, this business model is simple in nature i.e. it does not involve too much work.
For this reason, anyone can flip domains for a profit – even without prior experience.
In this article, l will walk you through a step by step process on how you can get started with domain flipping.
I will cover the following topics:
So without further ado, let me jump straight into more detail.
What Is Domain Flipping?
In simple terms, domain flipping is a process of buying expired domains at a ‘lower price', then you resell them for a profit.
For example, you can find expired domains at platforms like ‘Just Dropped' – for quite a low price, then you resell them on platforms like GoDaddy Actions (for a profit).
It is one of the ‘easiest' and most lucrative ways of making money online – since it does not require too much skills.
Your duty is to find great domains which are more appealing, buy them, then list them for any amount that you wish.
And the beauty part is that, there’s a lot of companies and organisations who're willing to pay good amounts for those domains – since those domains mean so much to them.
Thus, you can take advantage of those people i.e. scout nice domains for them, then present those domains to them.
With that being said, most people who're just starting out might be asking;
‘How can l find these expired domains?’
This question will be answered in the next section.
How To Buy Expired Domains
In order to find expired domains, you need to visit sites like ‘Just Dropped' or any other related platforms.
Once you're on these platforms, simply browse through the list of available domains – in order to find the ones which looks great.
You can also search for domains based on keywords e.g. photography – and the website will show you domains related to that keyword.
You can also filter the results based on category – thus, making it easy to find the ones which best suits your needs.
Once you find some nice domains, simply purchase them – thus, giving you full ownership to those domains.
How To Sell Your Domains
Ok, so let's say that you have bought some domains, it's now high time to sell them.
You can list them on platforms like GoDaddy Actions – where there is a ton of domains which are listed on a daily basis.
The beauty part about this platform is that, it receives a lot of organic traffic on a daily basis – thus, your domains have higher chances of being seen by potential customers.
Keep in mind that GoDaddy charges a small fee – but that's not a big deal since you'll recover your money when you sell your domains.
This method is great – since it involves less work.
However, instead of sorely relying on GoDaddy, you can also market the domains by yourself.
The reason being that, some domains on GoDaddy goes for months (or even years) without being purchased.
Thus, it is important to do your part – so as to find customers more ‘quicker'.
This can be done through email pitches – whereby you send cold emails to potential customers who might be interested in your domains.
For example, let's say that you’re selling a domain called miamiphotographers.com, you might need to reach out to photographers based in Miami.
Using this method, you can quickly find customers – since some business owners don't have time to visit domain marketplaces.
Thus, if you offer them an already made domain, they're more than likely to buy that domain – since it saves them a lot of time and energy.
Also, a domain which includes ‘location + keyword’ sells fast – since it ranks pretty well on both Google SEO and Google Maps.
Thus, you can earn big bucks – if you know how to properly approach your clients.
Now that we've covered the basics of this business model, the next question which most people ask is;
‘Is domain flipping profitable?’
I will clarify this topic in the next section.
Is Domain Flipping Profitable?
I have mixed feelings when it comes to this business model for quite a number of reasons.
To begin with the good side, domain flipping can be highly profitable – if you know how to do it the right way.
I have friends who’re earning big bucks with this business model – since they buy domains for less that 10 bucks, flip them, then resell them for few hundreds (or even thousands in some cases).
Thus, you can earn big bucks from a single domain deal.
Now let's look at the downsides of this business model.
Domain flipping can be quite risky in some cases – since you might spend months (or even years) without finding potential buyers.
Yes, you might get a huge profit? But how long do you have to wait to earn that ticket?
It sounds great to hear about people who're making thousands per domain deal.
But the truth is, some of them waits for several years – which might not be worth it (in my opinion).
In some cases, you might be forced to sell the domain at a break-even price – just to get rid of the domain & also, to recover your initial investment.
Thus, domain flipping is a gamble i.e. you can't predict how the domain will perform on the market.
Wrapping Up
To sum up this post, l think that domain flipping is a great way to earn some few extra bucks online – since this business model is simple in nature.
However, it is advisable that you should invest money that you're willing to risk.
The reason being that, there’s no guarantees in this business model – since the market is the one which determine your level of success.
Also, this business model requires a lot of patience – since domains might take ‘longer' to sell.
Other than that, you can leverage this business model to earn some few extra bucks for you and your family.
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