Whether you have a full-time business or a side hustle, domain flipping is a profitable way to make money online. You can buy relatively inexpensive domains and sell them for thousands or even millions of dollars. However, to be successful in the domain flipping industry, you need to understand domain valuation and investment better. You buy domains to sell at higher prices. If the website is already built on the domain, this process is known as site flipping or blog flipping and falls into the same category as domain flipping, but more on that later.
This post will share tips to help you choose the best domain name to flip and make money.
What is Domain Flipping?
Like many, are you also wondering, “What is Domain Flipping?.” If yes, you should not leave here.
Domain flipping is the process of buying and selling domain names for a profit. It involves finding and registering a domain name and reselling it for more than what you paid. It is similar to flipping houses or stocks, as you are investing in an asset, hoping to profit by reselling it at a higher price. Domain flipping can be very lucrative, as the high-profit potential requires relatively little investment.
With domain flipping, you can choose to buy a new domain or an expired domain. While it is still being determined which type of domain will yield the greatest benefits, it is important to consider the pros and cons of each domain before choosing one.
- New domains are usually easier to find and register. It also gives you more branding flexibility. It has no negative history, making it appear more legitimate to potential buyers. However, selling a new domain requires much effort in implementing search engine optimization (SEO) and marketing strategies, as permissions still need to be assigned.
- On the other hand, buying an expired domain name also has benefits. Most domain investors buy expired domains because they have good domain authority, such as established links equity and traffic volume. However, expired domains are often more expensive than new domains due to their limited availability.
- Before buying an expired domain, check the quality of your backlink profile and page authority (PA) using SEO tools like Ahrefs and Moz. It’s also important to check the domain’s history to ensure search engines haven’t blocked it owing to illegal activities.
Why you should consider domain flipping to make money
Domain flipping is an excellent and new way to make money online. It involves buying existing domain names and reselling them for a profit. The key is finding value domain names that can be sold for more money than you paid. When domain flipping, there are various strategies to consider, such as researching the keywords that are popular in the industry, considering domains with high potential, and using online tools to evaluate potential domains.
Additionally, domain flipping can be a low-cost way to start an online business. With a minimal investment, you can acquire a domain name and start selling it for a profit. You can also use domain flipping to supplement your current business income. If you already have a website, you can use domain flipping to find new domain names that can be used to redirect traffic to your site. This could increase your website’s visibility and lead to increased sales. Overall, it is a great way to make money online, and with a bit of research and effort, you can quickly turn a profit.
How to pick a domain name to flip
There are a few things you need to take into account when flipping domains. The domain name you choose is just one part of your overall business plan. You must also consider your target market, niche, and competition. This section will discuss some of the most critical factors you need to consider when choosing a domain name to flip.
Buy expired domains
Expired domains are the best if you are looking for domains to buy for domain flipping. Why? Because they are already registered with no active owners. As the expired domains have no one paying for them, they ultimately go to auction. You can then bid on them and purchase the expired domains.
Expired domains are not only of higher value but also have high SEO value. When you redirect the domain to another URL, you obtain potential useful link juice for the new domain. Nonetheless, buying expired domains is an excellent way to snowball your earnings with a diversified domain portfolio.
Short domains names
Shorter and easy domain names are more worthy and powerful because it’s easy to type and remember. With this in mind, these domains are expensive upfront. So before you buy it, you need to determine how much you can sell it for. If you can find a short domain name, buying it before anyone else is a good idea. Most short domains are already being purchased with the .com suffix, but as other suffixes become more popular, this represents a huge opportunity.
Scoop Local domains
Locally specific domains are inherently more valuable with flipping domains business. With high competition, they usually sell for high prices. You can easily resell local domains to local small businesses at significant rates. Moreover, they work well with SERPs and in terms of SEO with higher regional content analysis.
Buy .com extensions
Website extensions are of many types. You have .co, .net, .com, and many more. But when looking for domain flipping domains, it is more advantageous to go for the .com extensions. They are more likely to sell at a higher amount. Moreover, such domain extensions are expensive when buying through bids at auctions. Flipping a domain with a .com extension will be highly profitable in 2023.
High Domain Authority
Websites with domain authority (DA) within 1 to 100 have seemingly higher chances to rank higher in the SERPs. A high DA site is beneficial in increasing the earnings of several tools. You can use tools like Ahrefs to check the DA scores of domains. You can also check the backlink numbers the site has acquired. Anyhow, a domain with high DA is valid and has higher chances to resell at higher rates with domain flipping.
Opt for brandable domains
A brandable domain is a website address that is easy to remember, catchy, and associated with its product or service. It can also be tailored to a company’s branding, making it easier for customers to remember and find the website. For instance, a site name stating “fshrrh.com” is unreadable and cannot represent any particular aspects or subject matter. But “deo.com” is readable, short, recognizable, and can represent a service or a product. This is what we call a brandable domain. There should be some meaning to it for people to understand.
When picking the best domain for domain flipping, you should also account the keyword friendliness regarding SEO and search engines. The domain should appear in the results when the user searches for a keyword or name. The most actively searched keyword or phrase is highly valuable if it is in a domain name.
Newly tapped domains
Similar to expired domains, new domains are precious. Frequently, unique domain names and modifications come through that tentatively take over the market, creating vast opportunities in a short duration. If you can capitalize on such newly tapped domains before becoming mainstream, you can easily create a profitable site with a meager investment. These new domains can be new concepts, services, or even products. That is why it is essential to stay updated with the trends in the market.
Look for domain names that have the potential for ranking in search engine results. The A domain’s SEO potential refers to the domain’s ability to rank highly in organic search engine results. It is determined by factors such as the age of the domain, the quality of its content, the number of backlinks, the relevance of its content to the search query, and the presence of keywords in the domain. Good SEO potential is vital for businesses that want to increase their visibility online and attract more customers. So, this is an essential factor to consider when looking for domains for domain flipping.
The price of a domain refers to the cost associated with registering and owning the rights to a unique website address. This cost is typically based on the length of time the domain is registered for and the chosen domain extension. Evaluate the domain name’s market value and set a reasonable price that will make it attractive to potential buyers. Before that, if the domain price is out of your budget but has high reselling potential, you should make an informed decision.
Make money with domain flipping in 2023
Domain flipping is a lucrative business that can be done to make money. Domain flipping involves buying a domain name for a low cost and then selling it for a higher price. To get started, research the current trends in domain names and investigate the market to identify domains that have the potential to become valuable in the future.
Once you have identified a potential domain, you can register it for a low price and then resell it for a higher price. You can also use domain auctions to promote and sell your domains to the highest bidder. Additionally, you can use domain parking services to generate revenue from the domain without actually selling it. With the right strategy, domain flipping can be an excellent way to make money.
Tips and tricks to maximize your domain flipping earnings
- Evaluate the domain’s potential value by considering factors like brand-ability, length of the domain name, and SEO search friendliness.
- While you can make big money via domain flipping, it is not wise to rush to resell your domain. Be patient to grab the right opportunity to sell it at the highest price.
- Always opt for domain extensions like .com or .io, or .gg. They are readily popular, and people always look for valuable domains to buy with such extensions.
- If you have purchased an expired domain, you should research the domain’s backlink profile for high link juice.
- Before finalizing a domain, double-check it for any blacklistings or poor Google history.
- Check out the past sale prices of similar domains through relevant and reliable platforms. You can get valuable insights from such sources about the domain’s potential.
What to do if you encounter any problems while flipping a domain
No matter how simple or complex the process may seem, potential problems can always arise when flipping a domain. And if you need to prepare for them, you could end up with a lot of frustration.
Here are some tips to help you avoid any problems while flipping a domain:
- Make sure you have all the necessary documents ready to go before you start the process. This includes your passport, driver’s license, and any other legal documents you may need to prove ownership of the domain.
- Have a clear idea of what you’re expecting to receive in return for your investment. This will help you make an informed decision about whether or not to invest in a domain.
- Do your research before you make your purchase. This will help you understand the domain name and the market it’s currently in.
- Make sure you have an agreement in place with the current domain owner. This will help avoid any disputes or problems after you purchase the domain.
- Protect your investment. Make sure to keep your documents and information about the domain safe and secure.
- Be patient. Flipping a domain takes a lot of work and may take a few months before you see any profits.
How to protect your investment while flipping a domain
You can do a few things to protect your investment while flipping a domain. You can always register a trademark and ensure you have the proper contracts and a solid marketing strategy.
- One of the most important things you can do is to register a trademark. This will help you protect your name, logo, and other intellectual property. If you flip a domain and don’t have a trademark, then the other party can use that name without your permission.
- You also need to have the proper contracts in place. This will protect you from conflicts of interest and ensure you get the most out of your investment. Make sure you have a transfer and hosting agreement, a logo and copyright use agreement, and a return and refund policy.
- Finally, make sure you have a solid marketing strategy. This will help you attract buyers, convert leads into customers, and increase traffic to your site. You should have a social media strategy, a website design and development strategy, and an email marketing strategy.
How to sell a domain name
Domain flipping is the new and popular way to make online money in 2023. It’s simple, you buy a domain name for a low price and then sell it for a higher price. There are a few things you need to know before you start flipping.
- Choose a popular domain name with a high search engine ranking that is easy to remember.
- Keep in mind the potential competition. You want to buy something other than a domain name already being used. Try to find a new domain name that has yet to be registered.
- Consider the price. You want to find a domain name that is priced below market value. This way, you have a higher chance of selling it quickly.
Follow here to resell a domain name:
- Research the domain name’s value. Look at domain appraisal websites and compare your domain to similar ones on the market.
- Set a fair price for the domain name. Consider factors such as the name’s length, the letter combinations it includes, and the presence of a keyword.
- List the domain name for sale on domain marketplaces and classified websites.
- Promote your domain name through social media and email campaigns.
- Respond quickly to inquiries and negotiate with potential buyers.
- Transfer the domain name to the buyer after they have made the payment.
In a Nutshell
Domain flipping can take years to find a buyer. One way to reduce the risk is to avoid putting all eggs in one basket. Buy several domains so one can cover the cost of the others if one is applied. To get started, you must find a domain name you can afford. Next, you need to find potential buyers to sell your domain. Domains can be sold in several ways, including auctioning them on relevant sites. Alternatively, you can sell it privately.
Buying a domain with a decent amount of traffic is a challenging task. We’ve highlighted the main steps to ensure you find the best domains to flip in the future to avoid costly mistakes. This article lists helpful criteria for you to consider when choosing a name. Please comment below if you need clarification or have queries.