This post is part of www.naijatechhub.com‘s “How to Make Money Online” series.Other posts in the series include how to make money advertising, affiliate marketing of Konga, Jumia, Kaymu products, etc, Vlogging (uploading videos online), working on freelancing websites, teaching online, mobile app development, importing from China with as little as 200 Naira, Selling on Konga and Jumia and other easy ways to make money online.
Website and Domain flipping is a cool way to make money online. You can buy unique new or expired domain names (domain names are website addresses e.g. naijatechhub.com, etc.) on websites such as GoDaddy.com for a low price ranging from 2,000 Naira to 3,000 Naira per domain and then go to domain selling websites such as GoDaddy.com, Flippa.com, etc. and auction the domain, if you have a unique domain name that someone wants badly, they will contact you through the selling website where you listed it for sale at your price.
They could negotiate and you may be able to sell the domain for 10 to 100 times the amount you bought it. For example, the domain name www.ebola.com was sold by its owner Jon Schultz for 150,000 dollars and it was bought by the owner for just $13,500. (http://www.washingtonpost.com/news/morning-mix/wp/2014/10/14/the-merchant-of-disease-who-wants-six-figures-for-ebola-com/)
The secret to getting buyers and good prices for your domain is that the domain name must be extremely unique, you should do a lot of research on the best way to buy domain names online so that you do not just waste your money. Also do not buy long domain names, keep it short and simple. Be an opportunist, when there is a very popular event or happening especially disasters, you can create a domain with the name of that disaster just like the ebola example I gave above. When buying expired domains, buy the ones with high page rank (discussed under blogging) and unique names, you can find a daily updated list of expired domains at www.statscrop.com with their PageRank written beside them, use PageRank checking websites such as www.pagerankchecker.com to ensure that the PageRank written on the Statscrop website is correct.
The more lucrative one is building websites from the scratch and selling them when they have attained a good Alexa.com traffic rank, Alexa.com is the world’s leading website rating website, you can write the name of any website in it and it will bring the ranking of the website both globally and locally.
To succeed at selling websites, you need to create a website with global focus meaning you should not make it something only people from a particular country are interested in, it might work if you do that but it is better to go global so that your buyers won’t be restricted to a particular location and so you can sell at a good price quickly because when you place an ad to sell your website or blog on the website selling websites such as Flippa.com, it will be sold in an auction, therefore if it has a worldwide audience you will get higher bids on it from all over the world.
The domain name you use for the website should also be short and very catchy to increase your website’s value. Depending on the Alexa rank of the website globally, you can sell it for several thousands, tens of thousands or even millions of dollars. To get a very high price for your site,; post original content regularly, work on your SEO, spend money and hire professional SEO experts to do it for you (To make money, you have to spend money). Treat the website like your baby and you will be well rewarded at the end.