Over time, notably during the recent past, online business has grown to a higher notch. Online entrepreneurs have developed massive ways of earning both passive and full time income over the internet. Web developers have enhanced their chase for money through website and domain flipping. They do buy junk domain names which are listed up for online auction on major websites and redesign it, hence improving its value then they sell it at a profits. This is an ideal business because it does not require shipping or picking up a product, but instead someone can make money right from the comfort of their homes. Hence, this article will narrow down to explaining the basics of domain backordering, domain flipping and their roles in website restoration and marketing design.
Domain backordering is basically a service offered by domain registrars to help entities or persons to register for domain names that will soon expire. This is done promptly and on specific periods to ensure that the new entity captures the domain name rights before someone else grabs it.
Typically, not all domain names can be backordered during their expiry because of several factors. These can include a situation in which the registrant renews a domain name before it is being deleted by the registrars. Similarly, a domain name might have a trademark dispute, hence it can be HOLD on pending status until there is an amicable settlement of the concerned issues.
One good thing about domain backordering is that users can backorder any available domain names at their own convenience, irrespective of whether the domain name is brand new or if it has been in existence for several years. Therefore, as much as the idea of domain backorder can seem light, it is important to understand the complete process of domain backordering process so that one can acquire the best valued domain names available.
The process of domain backordering is relatively simple to users who have registered a domain name. However, it is an also be done by beginners by following the essential steps as outlined below.
- Determine domain names expected to expire
This is perhaps the most common step in domain backorder process. Clients are required to collect a detailed and precise data on the list of expiring domain names. This will help in deducing facts and decision making on whether to backorder a domain name or leave it.
- Placing a backorder
After deciding on which domain names to backorder, one is required to place a backorder to the domain registrar before the expiration date of the domain names. Thus, the domain registrar is vested with the ability to grab the domain for a user immediately it will drop.
Consequently, when an entity successfully captures a domain name, there are things involved. In case where an entity was the only on that backordered a domain name, it wins and therein awarded an access to that domain name. On the other hand, if two or more users might have backordered the domain name long before it dropped, then the domain registrar has no choice but provide the users an equal opportunity. This is done by a private or public auction to those who had backordered the same. Hence, it is from there that a user can win or loose the domain name backorder process.
During the backordering process, things might take a different turn when an entity ends up in a private auction. In such cases, one should not panic. For this case, users will be required to make a competent decision. Most important is that users should determine how much they they are able and willing to pay for the particular domain name. Alternatively, users should determine the best time to place their bids. Normally, it is strategical to place bids on the first or last day of the auction period.
Domain flipping is the process of buying a domain or website, which can probably be junk, and redesigning it, fixing it up and finally selling it for a profit. This is quite a noble way to create an additional passive income by simply using your computer with an internet connection right from home. It is not a get-rich scheme but a proficient investment in this field can make good earnings.
The value of a domain lies in its name. A domain with a good name from the end users perspective is likely to generate a lot of traffic in its daily operations. Therefore domain flippers and web developers rely on the essence found in a name which is undoubtedly a great bonus. Therefore, a domain that is flipped brings value to the web developer because it will not only generate revenue on monthly basis, but also consistently increase in value. Hence, it stands up as an investment that can be sold later and make good returns. Therefore, in the long run domain flippers can sell the flipped domains at a price that can be over five times the buying price.
Just as in the case of domain name backordering, domain flippers can buy domains in similar manner. People do sell websites because they might not need it anymore. Other reasons why domain flippers can buy websites include those domains that might have not been renewed. Similarly, website owners can stumble to natural calamities like death and their website is lifted for sale. There are also a myriad other reasons as to why domain flippers can buy websites.
There are numerous places to buy domain names including GoDaddy.com, Namejet,com and Pool.com among others. The trick behind domain flipping is to purchase a domain name by the least price possible and grow it, generate more traffic to it and sell it at a good price to make profit. Most of these domain selling sites offer domain names at standard prices of between $50 and above. Great web developers can buy a domain name for as little as $70 and flip it well then sell it for $1000 after a one year period. This is the sale price besides the passive income that is accrued from the domain almost monthly.
Finally, with the above tips in mind, and a basic knowledge in domain name backordering and flipping, it is evident on how web developers can make lucrative income by simply buying a website that is almost of junk quality at a low price and redefining it with quality and essential content so as to sell it at an incredible profit.
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