How to Make Money Flipping Domains on Bluehost

How to Make Money Flipping Domains on Bluehost

Just like any other business or side hustle, there are tips or secrets to the trade you need to know before venturing into the business,  flipping domains is no different.

It can be an extensive process understanding the business of flipping domains, but you can learn.

In this post, I discuss all you need to know about flipping domains, and we will use Bluehost as our domain provider and marketplace.

Key Highlights

🎯 A domain name is an identification string that identifies an entity on the internet.

🎯 Bluehost is a web service company that primarily provides web hosting services. You can buy domains, host apps, and websites, and build basic websites.

🎯 Domain flipping is the process of purchasing domains and selling them at a higher cost.

🎯 top-level domains you should know are “.com, .org, .co, .net, .eu, .biz and .io “.

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🎯 If you want to sell a domain name fast, make the name brandable. Example: omegapublishing.com is better than Toirdhealbhach.com

SEE ALSO: How To Start A Logo Design Business With No Experience

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How To Choose a Good Domain Name to Sell

The first step in flipping a domain is to get a good, brandable, sellable name.

When buying a domain name, you should start with a cool name that you know can be brandable.

For example, a domain name like Toirdhealbhach.com is hard to pronounce and spell. A name like Zapbooks.com is brandable easy to spell and pronounce.

Another tip to consider when buying a domain is trademark issues. You have to be careful not to buy domain names with trademark issues. If you want to stay out of legal troubles, take it seriously.

Understanding Domain Name Extensions

There are over 200 domain extensions available.

There are a few highly sought-after domains extensions, and knowing them will give you an edge when flipping domains.

Some domain extensions are best suited to a particular organization. For example, the “.io” is relatively new and extremely popular in the tech ecosystem.

The average price of a new .io domain is $40. The worth of a “.io” extension immediately rises to about $1000 after you buy them and up to $70000 after a while.

Some top-level domains you should know are “.com, .org, .co, .net, .eu, .biz and .io “.

How to Sell a Domain Name

In this section, I will show how you can sell your domain easily and safely.

1. Buy and register a Domain name.

If you don’t have a domain name, you will have to buy one. There are a lot of services you can use to buy a domain. One such service is Bluehost.

You can buy domains with various extensions on Bluehost for as low as $10.

2. Choosing a Marketplace

There are two ways you can sell your domain name, you either sell it in-person or sell it through a marketplace.

There are many online marketplaces you can sell your domain names. You can use sites like Flippa, Afternic, NamePros, and Sedo.

This online marketplace connects you to interested buyers. With services like Flippa, you can even sell businesses and SaaS.

3. Pricing Your Domain

It is vital to know the value of your domain before selling it. Domain names can go from hundreds of dollars to thousands and then millions.

For example, the domain name VacationRentals.com sold for $35 million.

Some factors determine the value of a domain name. These factors are,

• The length of the domain name. Short domains are more valuable and hard to acquire now.

• The next factor is the ease of remembering the name and the ease of pronunciation.

• Are you using a top-level domain like “.com, .org, .co, .net, .eu, .biz and .io “.

• The age of your domain. Older domains are more valuable.

4. Your Contact Info

Apart from dropping your contact info in a marketplace, another professional way to sell your domain is by creating a landing page and using a Url redirect.

When some enter the URL, it will redirect them to a landing page. On the landing page, write your contact info and information they need to know about the domain.

5.   The Transaction

When it comes to paying for the domain name, things get a little bit tricky. Either you transfer the domain and trust that the person will transfer the money to you, or the person transfers the money and trust that you will transfer the domain to them. Anyway, it is risky because you guys barely know each other.

The best way to do it with less risk is to use an escrow service. An escrow service holds on to the payment until the domain gets transferred, then releases the payment to the seller.

 An Escrow service helps to secure and facilitate transfers. It helps to protect all parties from fraud.

Final Thoughts

Flipping domain names is a lucrative business, and they can shoot up in value in just a few months.

Because of the competition in today’s domain market, domains are bought every day.

For example, almost all the single-word domain names are not available. So this is why it is important to make your domain name brandable.