From the course: 43 Ideas for Starting a Side Business

Buy and flip domain names

From the course: 43 Ideas for Starting a Side Business

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Buy and flip domain names

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- Another great business idea for those of you who like to spend time on the web is to buy and flip domain names. If you've ever had a great idea for a business and checked if the website or domain name's available, you'll likely run into this type of business before. The one and two word domain names all seem to be held by companies that are waiting to sell the best domain names for thousands or hundreds of thousands of dollars. But guess what? There are so many domain names that have been overlooked. If you can identify these, you can buy them cheap, hold them and sell them later. Here's how to get started. Check out domain name tools like Namecheap or GoDaddy to find a cool domain name. I myself, once purchased LLCfile.com for 10 bucks. I listed it on an auction site called Afternic and I sold it for 750 bucks. You can list your domain names on resell websites, but you can also post a simple webpage that tells people that your domain name is for sale. The potential income from this is 50 to $500 a month. So if you're into this one, spend time that you would be scrolling through social media and instead do domain name searches. Grab a few good domain names and list them on Afternic or GoDaddy secondary market and other websites too.

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