How to Make Money Flipping Domains
If you haven’t heard of domain flipping yet, don’t worry, many people haven’t. Flipping domains can be an extremely lucrative side hustle capable of making you thousands of dollars per month by acquiring the right domains and selling them for a profit.
Need a reason to give domain flipping a try?? It's EASY! Super easy. And it requires as little as $10 to get started. That's right. For the same cost as your next lunch, you could get started flipping domains.
The process is simple. Just like flipping furniture or anything else, you’ll need to purchase your inventory (domain names in this case) before selling it for a profit.
In this post, I’ll explain how you can get started flipping domains, how to pick the perfect domain names, how to sell a domain name, and much more. Keep reading to learn how you can start making money with domain flipping in no time!
Find New Untapped Domains
Another great way to find a domain to flip is by searching what’s available. Sometimes you might land on a goldmine of domains. Recently, I purchased the domain “savecashfast.com”. While I haven’t sold it quite yet, I do believe it might be worth a nice chunk of change considering I paid less than $10 for it.
Sometimes you just have to get lucky when you flip a domain. By purchasing a domain name that has no current value, you might be surprised how much it can increase as domain names become rarer.
Opt to Purchase .COM Extensions
Today you can purchase many different kinds of website extensions. If you’ve ever seen a website end in “.co” or “.net”, these extensions are usually purchased if the “.com” extension has already been taken.
By purchasing a .com domain name, you’ll be much more likely to sell your domain and make money.
The downside of these domain names is that they tend to be more expensive when purchasing through an auction. However, whenever you flip a domain with a .com extension, you're likely to be more profitable.
Is Buying and Selling Domain Names Legal?
Absolutely! There is nothing wrong with buying and selling domains for a profit. There are many domain flippers who make a full-time income buying and selling domains.
How Much Money Can You Make Domain Flipping?
Some people have made hundreds of thousands of dollars flipping just one, yes ONE, domain! Domains such as z.com, toys.com, and slots.com all sold for over $5 million, just for the domain name!
Now, there’s a good chance you won’t run into any of these domains in 2021, however, the ability to make money still exists. Even if you can purchase a domain name for $10 and sell it for $100, that’s a $90 profit. Multiply that by 100 domains and you can easily make an extra $9,000 annually from this side hustle. Domain flipping can be as profitable as you can make it. Every time you flip a domain name you can then reinvest your profits and buy a domain to flip.
Tips to Make More Money Flipping Domains
Here are some tips to help boost your income buying and selling domain names.
Do Your Research
As I’ve mentioned, ensuring you purchase the right domain is critical to making money flipping domains. You should carefully analyze any and all aspects of a domain before you decide to purchase it.
One thing I always do before purchasing any expired domain is looking at its' history using the website WaybackMachine. This website offers a digital archive of just about every domain registered. You can access screenshots of the domains' history to get a good idea of what content was previously hosted on the domain.
Check for Penalties or Bans
Before purchasing any expired domain, you'll want to ensure it isn't banned by Google as this can crush its value.
You can check to see if a domain is in trouble using isbanned.com or bannedcheck.com.
Give it Time
One common mistake when flipping domains, is selling it too early. Make sure you give your domain some time before selling it for a small profit. You might be surprised
Depending on the popularity of your domain, it might be wise not to take the first offer and instead get multiple offers before deciding to sell.
Consider Investing in a Tool
If you’re interested in purchasing an expired domain, there are several tools you can use to quickly browse many different auctions and domain stats. These tools will offer an easy way to view the domain authority of many different domains, their cost, and several other factors worth considering.
If you’re planning on becoming a high volume domain flipper, these tools can become essential to grow your side hustle.
Don't Forget About Taxes
As with any side hustle, Uncle Same will certainly want his portion of your profits. If you buy and sell a domain name for a profit, remember to set aside some money so you don't incur a large tax bill at the end of the year.
Consider Turning Your Domain Into a Profitable Website
Sometimes you might come across a domain that is a great option to build a profitable website on and instead of flipping it, you can choose to build a business out of it.
Whether your goal is to start a blog, build an e-commerce business, or grow various other types of websites, it's important to remember that it's okay to NOT flip a domain just because it may be profitable. You may have the possibility of making significantly more money by keeping the domain and growing a business with it. Once your business and website have grown, then you could consider selling it to cash in on your efforts.
Because the barrier to entry is so low, your losses are somewhat limited. A failed domain flip will cost you somewhere around $10 to $20, depending on how long you’ve had the domain name. When you compare that to the amount of money you could make, domain flipping is a no brainer!
Because domain flipping is a relatively new concept, your competition is not as stiff as other businesses or side hustles. When you flip domains, you'll mainly be competing against others similar to you.
Work as a Nomad
The flexibility domain flipping offers can be a major selling point for those looking to start a side hustle. You can flip a domain from anywhere with a computer and internet connection. That's right, you could work on the beach and still make money each time you buy and sell a domain name.
Easy to Get Started
Anyone can start purchasing a domain name and selling it to prospective buyers. There is no special education required.
Domain flipping can be the perfect side hustle for anyone with a little time and desire to make money.
Final Thoughts on Making Money Flipping Domain Names
Flipping domain names can become an extremely profitable side hustle for anyone with a computer and internet connection.
To get started, you’ll first need to find a domain name to purchase at a good price. Then, you’ll need to find potential buyers to sell your domain. You can sell domains a variety of ways including auctioning them on websites like Flippa or you can choose to sell it privately. Many domains can be sold in less than a few weeks, making it a quick way to make a few hundred dollars each month.
Domain flipping is a great low-risk side hustle for just about anyone and I would 100% recommend it for anyone with even the smallest amount of technical skills.
Have you ever flipped a domain name? Comment your experience below!