How To Make Money Flipping Domains (Domaining) • Scott's Money Machines (2024)

This article is for people seeking to make money online, and those already making money who want to add another income stream. Making money from a computer represents freedom. Freedom to live the life you choose to live.

Pinch yourself, this is not a dream.Making money online is real, but it does take work and commitment. Don’t let anyone tell you otherwise. What you need is proven working methods to make money online, and the commitment and persistence to get it done. It gets easier… I promise.

There are many ways to make money, and I am an advocate for having multiple streams of income. I call these streams of income “money machines”. You can build many money machines, but you have to start with one and make it work before moving to the next.

If you have not started yet, don’t fret. You have to start somewhere. Choose something you can get excited about. It will be much easier.

Today I’m going to unravel the confusion of domain flipping.

Have you started your online journey yet? If not, domaining can be a good place to start. If you’re already making money online (or off), domaining can provide a nice income stream to add to your wealth strategy.

When you think of making money online, the things that come to mind most often are most likely affiliate marketing, blogging, ebooks, digital courses and other “popularized” income methods.

Any of these methods can work for you given the time and energy to get everything setup and marketed. But they are not your only choices, in fact there are countless ways to profit online. And some of them can be implemented pretty quickly for a very low investment.

Let’s talk about domaining

How would you like to buy a domain name for ten bucks and turn around and sell it for a $100, $200, $500 or more?

Well, you can.

Flipping domains is known as domaining. There are people making a ton of money doing this. Some domains sell for thousands, even tens of thousands or more.

But I want to stay real and keep your expectations in check. It’s not a healthy approach to expect to buy a domain name and sell it for thousands (although it does happen).

Domaining is a very real business, and when you understand how it works, and how to solve someone else’s problem by providing them a good domain, you will see that you can make very good money with minimal effort by selling most domains for a few hundred dollars. My highest domain sale was $400, and that’s just fine by me!

In fact, pricing properly is one the “secrets” to successful domaining, and gives you a huge competitive edge. Selling at a reasonable price means quick, repetitive sales.

There is a huge market for domains, and there are plenty of people who would be happy to pay $200 for a good domain for their business today, but there are very few who can justify paying much more.

Your competitive edge

People get into domaining with dollar signs in their eyes, they buy a domain (maybe even a good domain, if they know what they are doing), and then they price it at $2,000. Then they buy more domains and put them on the market at similar price points. I’ve seen people put 50 domains on the market without a single sale after a whole year. That’s nuts!

Think about that… they spend $500 (or more) on domain names, and not one single sale. They have all this money (and time) tied up, and then they become frustrated. They feel that they don’t want to lose their “investment”, so they renew each domain for another year. Now they are into it for $1,000. What gives?

Greed.

Business is about helping people solve problems, not about taking advantage of your customers. Greed does not work for the long haul.

Let’s take a look at the right way to flip domains

You buy a domain (a good domain – more on that in a moment) for $10 and you list it for, say, $125. Now, the customer is searching the marketplace, they find your domain and instantly recognize it’s perfect for their business at a price they can afford. They make the purchase.

After your initial investment of $10 and the fees to the marketplace platform, you’ll make around $95 (depending on which marketplace). Not bad.

But you’re probably thinking that isn’t enough money and it’s not worth your time. Think again.

When flipping domains, all your work is upfront. It works like this:

• You find a good domain and buy it
• You write up a description and post it in a marketplace

That’s generally it. People will find it when they search the marketplace, the transaction is handled by the marketplace, and you get paid.

Now I did simplify that, so there’s a bit more to it to get started. You need to learn what makes a domain marketable, and how to find them. You need to write your descriptions, and setup an account with a registrar (to purchase them), and setup an account with at least one marketplace (to sell them).

Walk before you run

There’ll be a slight learning curve, so you don’t want to buy 50 domains at once. Try with a few, you will learn quickly without much risk. I suggest getting properly trained. You’ll be domaining like a pro in no time.

But really, once everything is setup, it’s a matter of finding and listing your domains. And you only need to do that a few times a month to keep a steady stream of marketable domains, so it’s not very time intensive.

It’s a cool business to get into if you are looking to make money online working from home. It has a low cost of entry, a quick learning curve, and can bring in a steady, healthy stream of income.

Once you set up and implement your “domaining money machine”, you can move on to another source of passive income (yes, you and I have more to talk about!).

Remember, building wealth is about having multiple streams of income!

You can’t learn to build an entire income machine one article. If you are interested in domaining the right way (to make money), I recommend this. I took his course, and that’s why I feel comfortable recommending him. Jamie is the real deal.

The course provides everything you need, taught by one of the most successful Domainers on the planet, and goes into detail…

You’ll quickly become a pro learning…

• How to find great domains
• Choosing the best marketplace to sell
• Selling flat rate or in auction
• How to buy domains for around ten bucks
• How to appraise a domain
• How to flip websites
• And much more…

Check it out here to see if it is right for you >>

What Makes A Good Domain?

So let’s talk about what makes a domain good (or great).

It is important to be very particular of the domains you buy. It’s important because a good domain will sell quickly.

It is smarter to flip a domain quickly for a modest profit, than to overprice it only to sit unsold. Think about it… If you sold one domain every day, how would that affect your life? What about two a day?

So how do you find great domains?

Generally speaking, single word domains are better. Dictionary words as a “.com” are usually awesome, but they are nearly impossible to find. You can put words together for a great domain. But not just any words… you need to form domains that will sell.

There are two types of domains that will sell.

The first is known as a brandable domain. A brandable domain is one that applies to a product, service, or business. It’s not a direct product name, it’s more general so it can be valuable to many people making it easier to sell. For instance, “ProFishingSupplies.com” or “CityDogTrainer.com”. These are desirable names people can use for their related business. A name like “beer.com” is also a brandable domain, but domains like that are all taken. When coming up with a brandable domain, make it easy to remember. That gives it an identity differentiating it from other websites.

The other domain type is a keyword domain. Keyword domains are based on an exact keyword, and that makes them easy to sell. If a keyword is getting a lot of searches (which you can check using web tools), then the domain will be ideal for ranking in search engines. And it doesn’t have to be a “.com”. As long as it is a good keyword, it can still rank as a “.net”, “.org”, or “.info”. “.mobi” is hot now too. Note that a “.com” is always worth more and easier to sell, but these other domain extensions (called TLD’s for top level domains) will still be desirable. A good name will still sell.

Conclusion

There’s more to domaining than I can write about in an article. My intention is to introduce you to domaining so you can decide if you are interested.

Here’s a recap of domaining…

• Provides a great stream of income with minimal effort
• Low cost of entry
• Business model: Find domains, list domains
• Great domains are easy to sell
• Two types of salable domains: Brandable & Keyword

If you want to learn more, look into this first-rate training (and it’s waaay inexpensive). Remember, I’ve done the training so I know it’s excellent.

Resources

• Become a Domainer: The best domainer training available anywhere
• If affiliate marketing is more your speed, here’s a FREE affiliate bootcamp (it’s awesome!)
• Learn to start a blog with step-by-step training (maybe it’s time to finally get that blog started)
• Here are two books by Russell Brunson that are complete game changers for success. They’re FREE for you! You want to take advantage of Russel’s free stuff… he’s the best…
  • Dot Com Secrets: The Underground Playbook for Growing Your Company Online
  • Expert Secrets: The Underground Playbook for Creating a Mass Movement of People Who Will Pay for Your Advice

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Also, let me know your thoughts. I can answer questions for you since I’m doing this. Hit me up in the comments below.