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Domain Flipping1

One of the easiest ways to make money online is by buying something for a low price and selling
it for a higher price. It is even better when you don’t need to pickup or ship a product. Today
I’m going to talk about how to make money online by flipping domain names and how I
personally have made tens of thousands of dollars in the past year doing this.
There are many places and ways you can purchase domain names. You can purchase
unregistered ones through sites like Godaddy. There are forums where people will gladly try to
sell you their domain name (usually though the domains being sold in forums are either crap or
the asking price is so high it does not allow you any room to flip the domain). And then there is
my favorite way of obtaining domain names, through an online auction at Namejet. Let’s first
talk about Namejet and then we’ll talk about how I personally ring the register by flipping
domains.
Namejet is a domain clearing house (at least that is my term for it). What happens is that people
let their domain names expire everyday. Some people just don’t need their domain anymore,
some people forget to renew it, some people die, I mean there can be hundreds of reasons why a
domain will not be renewed. What the domain registrars want to do is cash in on the domain that
someone forgot to renew, so they offer that domain to Namejet to auction it to the general
public. Think of it like a storage unit, someone doesn’t make their payment and the storage
company hires an auctioneer to come and auction the storage unit to the general public. Namejet
is doing this but for domain names. The bid for each domain starts at $69. What I LOVE about
Namejet is the process… they let you search through the domains that are coming up for auction
30 days in advance. Whoever places a $69 bid on a domain will be entered into an auction when
the 30 days runs out with everyone else who placed a bid. If you are the only bidder than you get
the domain for $69. If there are 10 other bidders than there is a closed auction, meaning only
you 10 guys can bid now against each other in a 3 day auction with the highest bidder taking the
domain when the clock strikes zero. I love this because let’s say there is a great domain and it
flies under the radar. If it goes to auction with only 3 or 5 or 7 bidders my chances of winning
this domain at a very low price are great. I’ve won domains for $100 which I was able to flip for
$2,000. I won a domain for $2,500 which I flipped within 4 months for $7,500. I won a domain
for $1,000 which I’ve turned down $5,000 offers on because I think I can get $10,000 for it. The
key is to not overpay in order to leave yourself plenty of room to turn a profit when you flip the
domain. Read More about the original article here... http://www.anticareer.com

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