In April I wrote a post called "The Domain Flipping Process Explained" where I explained the process that I follow for flipping domains. Back in January I wrote a post titled "Domain Flipping Defined" where I defined what I have found to be the three main definitions of domain flipping.
It never ceases to amaze me how varied everyone’s experience is with domain flipping as each person applies their own style and methodology. This is the great thing about domain flipping as well since it can mean something completely different from one person to the next.
As I discussed in my post "The Domain Flipping Process Explained" – Domain Flipping for me is an involved process in which I do careful research coupled with quality development work. The flip doesn’t happen overnight, and the value I look for is often times at least 100x my initial investment. Many other people have tried a different approach to domain flipping – selling names very quickly on sites such as eBay or on the domain forums. Both of these methodologies are ways to flip domain names, just different approaches and timelines apply.
I’ve always approached domain flipping a lot like stock investing. I enjoy careful resarch and utilizing tools like namebio and sites like dnjournal to get a feel for what’s selling in the market. I also stay active on DNForum and look for emerging trends or popular TLD’s. While my flips almost always take over a week to complete (oftentimes over a month) – what I have in the end is a flipped domain.
If you think of house flipping, people spend a month, maybe two fixing up a house and then selling it for a greater value. My timescale is not that dissimilar from that of the house flipper, but my costs certainly are. By keeping costs low (which means you’ll have to get your hands dirty and do some coding yourself) and understanding the market you can achieve great profits…but it takes patience. If you want to make money overnight my strategy won’t be for you. Like I said, domain flipping means something different to everone. Dot Weekly had an interesting post today titled, "Domain Flipping, Good or Bad" where they discuss their experiences of flipping domains on eBay. Vey different from what I do but still, domain flipping!
Remember, with domain flipping as with investing, there is no right or wrong, good or bad. There are however different definitions of the same thing. Happy flipping to everyone – however it is that you flip!