Make Money Online Through Domaining
Just like in any business you get into, it’s always a good idea to diversify – diversify the ways in which you make your money and the places in which your net worth are scattered; just because you’re making money online doesn’t mean it should be any different. So, it’s with that in mind that Nate and I have recently gotten into “domaining” or the business of buying & selling domain names – in order to diversify where and how we make our money online.
Just like with any other “make money online” venture, domaining isn’t as easy as it looks! There is reading to be done, trends to watch, “tools of the trade” to discover and an entire industry to master. But there is definitely money to be made! In fact, just today it was reported that the domain SolarEnergy.com was just sold for $1.6 million!
Think of Domaining like the stock market
Buying and selling domain names is much like buying and selling stocks on the stock market. You build domain “portfolios” like you do stocks; generally you buy a domain as cheaply as you can, let it age and mature then, riding market trends, sell it when the time is right for big profits. So, if you have the money to spend, it’s definitely a good idea to build your domain portfolio and grow your net worth that way, just as you would with traditional stocks. Think of domains as stocks 2.0…
Tools of the Trade
I’ve listed a few of the domaining tools that I’ve discovered so far in our new “resources” section of affiliatebynight.com, so be sure and check those out but if you want to get started right away, I would recommend first heading to the forums at namepros.com and reading everything you can find there. It’s the best way to have a “crash course” in learning about domaining. If you want to see some of the domains out there you might be able to pick up and cash in on, I recommend starting with “dropped” and expired domains – some places to find the best dropped domains are freshdrops.net and godrops.com. You can also cruise the domain auctions at GoDaddy (the registrar we use to register all the domain names we pick up) and places like SEDO, SnapNames & Pool.com. Your first stop for trying to determine the value of the domain you’re interested in should be estibot.com. So check all of those out and good luck with your new found online obsession – I hope there’s money in it for you!
Our Domains
If you’re interested in checking out the domain names we’ve picked up so far in our as-of-now short-lived domaining careers (all of which are currently available for purchase), check out affiliatebynight.com/domains. Cheers.
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[...] our domain portfolio. I wrote a couple of days ago about how we’ve started to get into domaining and are really enjoying it (as well as the huge [...]