How much money can I make from a little bit of extra work in the evenings or weekends? For anyone looking for a passive income it usually comes down to time vs money. Domain flipping scores very highly on this scale as you could research and buy a domain in 5 minutes and sell it on for £100,000s in a week. There aren’t many industries that can boast that kind of return on investment.
You can do it from your phone
Long train journey or commute to work? Instead of spending your time looking out of the window, you could be making some extra cash. Use the time to scout out new domains and search for business opportunities.
It’s really cheap to get started
Domains cost around £5 – 6 depending on where you buy them from. In the ebook I list some handy tips and tricks get discounted prices on your domains. You don’t need an office or even need a computer – you can do everything from your phone or tablet.
There’s little to no risk involved with a potential £600,000 profit
There’s no investment needed. You don’t need an expensive office or a fancy website. The only cost is the domain itself and that’s between £5 – £6. If you buy a domain that doesn’t sell, then you can simply not renew it when it expires after a year. Would you take a £6 risk on a potential £600,000 profit? I know I would.
Use Sedo and domains are marketed and sold for you
You don’t have to deal with any of the credit card processing or transfer details if you use a service like Sedo. If you sell your domains through Sedo (Which I highly recommend you do). They will handle everything. Just add your domains to your account and whenever anybody searches for your domain, visits your domain or tries to register your domain they will see your domain as listed to “Available to Buy or Buy Now” on Sedo.
You can work from anywhere with an internet connection
Domain flipping is the perfect little side hustle if your travelling long-term or on a gap year. If you have a wifi connection in your hotel or hostel you can keep up-to-date with your emails and search for new domains to sell. It’s a very popular passive income among “digital nomads” who tend to work from all around the globe using only a laptop and internet connection.
You only need 1 – 2 hours a day
Once your domains are listed with Sedo and up for sale – you only need an hour or so a day to check emails, search for new drops and reply to bids om your domains.
The money goes straight into your bank account
You don’t need a merchant account or a credit card processing service. I recommend selling your domains with Sedo – they will take a commission, but they handle all of the payment processing and then the money is paid into your bank account in £ sterling.
No long-term costs
If you give domain flipping a try and make some money, but then want to try something new – you can just let the domains expire and walk away with your cash.
It’s easy – and there’s no coding required
You don’t have to be a computer whizz to flip domains. All it takes is an eye for good business and little imagination.