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Domain names- is there money to be made from my living room?

In Getting started wah on August 4, 2008 at 1:52 pm

Hi all!Firstly a great big, fat thanks to all of you who called and wrote to me in my absence.

I was working on a nonfiction book I was offered the contract for in May. It was one of the hardest things Ive ever done but it is in fact done.

Yippie! I’m thrilled. I do wish my mom was here to see it.

I was so surprised by how many of my readers and cyber friends called or wrote to make sure I was fine.

So sweet of you all. But- i also received just as many emails on telecommuting questions for this blog as ever!

You like me! You really like me!

The most often asked question (well- one of them) is about how to make money selling domain names.

I don’t have any experience in this and so I got to thinking. Can this be true? I could see it happening back in the 90’s but now?

Is it true or is it just one more of those telecommuting UN-truths?

Lets see…

The idea is to buy a domain name and resell it later for a profit. A big profit.

But how does it work?

You buy a .com or .org or .net or whatever and then you have a choice of two actions:

park it and draw a commission based ad revenue

or

Trade it for cash.

While that sounds simple it isn’t. Ask anyone that has made a income from this venture. It is anything but easy.

To make it work you have to follow a very specific strategy.

Some people count on typos to make their money for them. They buy a domain that is very similar to a really popular site.

Something like http://www.boogle.com- get it?

They add their advertisements and such. When a person arrives on the site and clicks one of the links- blam- you just made some money.

Other people see a big rush coming and try to capitalize on it.

Imagine if you had a gut feeling 5 years ago that Hanna Montanna would be as popular as she is.

If you’d owned that domain name years ago what would Disney have paid you for it?

This is only the very basics of how it works. There is much more to it. Ive found a few websites and resources that I thought were very helpful and posted them below. Read through them to get an understanding of how the money is earned in this situation. You don’t really need any skills or talents other than the right timing and the ability to choose the perfect money making domain names.

I found a guide that was truly helpful as well. It was the cheapest one I could find but proved to be the most helpful. I even approached two other folks about this post and they were gracious enough to send me thier guides to making money with domain names free. I found them less informative than the one I purchased which was this one. 

Click Here!
I also found some great information here:
http://www.doshdosh.com/how-to-make-money-with-domains-essential-resources-for-beginners/

So- let me know what you think!

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