Things You'll Need:
- Credit card (purchases are made only online)
- Book that explains domain names more in depth, like "Domain Names for Dummies" by Suzan Wels
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Step 1
Be alert for new buzzwords. Identify words or phrases that are repeated in the media, like "global warming." Look for phrases that are meaningful to the average person and describe a specific niche, like "dog grooming."
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Step 2
Find a website that sells domain names. The website must have at least two important features: it must allow key word searches and it must return similar domain names that are available or auctioned. One such website is Buydomains.com. A search for "globalwarming" yielded:
GlobalWarmingProblem.com
GlobalWarmingResource.com
Globalwarming-Theend.com
GlobalWarmingSite.com
GlobalWarmingFallout.com -
Step 3
Secure any of the results from Step 2 that you think might sell for a profit. Pay the regular price, not the auctioned price set by someone who has done what you're doing now.
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Step 4
Park the domain name(s) that you bought in Step 3. That is, advertise the availability of the domain name you secured on websites that have a similar theme. When you sell the domain name, you pay a small percent to the website for the advertising privilege.
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Step 5
Subscribe to receive notifications for expired domain names. Many times, owners forget to renew a domain name before the expiration date and it goes up for grabs. If you buy it, there's a chance that you can resell it for a higher price. Many websites, like Buydomains.com, offer the expired domains notification feature.
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Step 6
Use Domain Redirect and affiliate programs to drive more visitors to your site. An affiliate can earn commission by advertising other websites (usually by banners) on her website.
