Domain flipping explained
Domain flipping is an exciting kind of business. The goal is the high profit coming from selling a domain. Yet, that is possible when you have made the purchase at a low price. In order to benefit from great deals, you should be able to determine which domains are going to be potentially interesting for the buyers. You have to consider which particular clients would be engaged in buying these domains and give a high-value offer.
Moreover, new domain extensions are frequently released, and the number of available attractive domains is increasing rapidly. That is why the business with domain flipping has such a boost. It is an opportunity for many people to make it a side job. However, others take it to another level and make it their main source of income. Therefore, if you are interested and you want to try it, you can make extra money from it. Let’s explain a little bit more.
What are the steps?
1. Strategy is essential
The first thing you should consider before implementing it is your strategy. For example, how much do you want to be involved? Do you want this to be your main source of income or maybe just a side job? And of course, what amount are you ready to invest? After that, you can choose which way to go. Perhaps you would prefer to purchase a number of cheap domains and make small profits. Or you desire to buy several domains that are a lot more attractive but at a higher price. Yet, they could be more expensive in the future.
2. Potential domains
There are a lot of potential opportunities when it comes to purchasing a domain name. Therefore, it is essential to pick the ones with possible future interest. Of course, popular keywords and catchy phrases are the answer here. However, if you have basic SEO knowledge, it will help you recognize the profitable ones. Additionally, you can use a tool to serve you find such domains. Another way to purchase a domain at a reasonable price is to check the domain auctions. Things that you should always think about are brand-ability, memorability, length, and searchability.
3. Act fast
If you discover one or more opportunities that seem ultimately profitable, purchase them through a registrar. But, don’t forget that a lot of individuals are in the market. So, don’t lose time and let others purchase and register them first.
If the domain you want is available online, you can move to register it. In case it is now in use, you can purchase it from the owner. Just give a fair offer.
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4. Present your domains
The world should know about the existence of your domains. Look for clients and promote on the site by attaching your contact details. You can present it directly to possible clients or in forums, social networks, and auction sites.
Domain flipping is a process, which requires you to be patient and calm. Of course, you can achieve a deal quickly, yet, that may not happen every day. If you want faster profits, the auction sites are your place.
This is probably the most important step. Once you have a client that appears with a suitable offer, you only have to transfer the domain ownership and finish the domain flipping process.