Friends and acquaintances call me the Digital Real Estate Queen, and I suppose that’s with good reason.
If I had a nickel for every time someone asked me “How did you get into this business?” I’d have about $6.
I got into what I like to call the ‘digital real estate’ business almost by accident.
I’ve been blogging and building blogs and websites since 2003, and I’m a card-carrying domain-a-holic. Which means that I own about 50 to 75 domains. I also own about 7 or 8 blogs and ecommerce websites.
It wasn’t until I bought one particular domain that it all hit me.
I had purchased this domain (whose name I shall not mention to protect the identity of the buyer), and was planning on starting a marketing company for one specific type of business.
I started building the site, but put it on hold temporarily. So I put up an “Under Construction” page until I was ready to finish it.
One morning I got an email from a guy wanting to know if I would be interested in selling that domain.
It kind of caught me off guard, because I was still thinking about using it for a new business. But deeper thinking brought me to the conclusion that it would be a business that had more ‘maintenance’ than I wanted to deal with.
So I thought about the offer for a couple of days, then sent my reply.
After negotiating for a day or two, we agreed that the buyer would purchase my domain for $900 US, and he would pay the Escrow fees (a service that you should absolutely use with every transaction of this nature).
And that’s how I turned $9 into $900 without lifting a finger.
Simply put, I bought a domain for $9, and sold it for $900. I made 100x my money in about 6 months.
My first domain sale.
And that’s how I got started.
I’ve since sold 2 blogs and an e-commerce store, fueled by the sale of that first domain.
In my opinion, digital real estate is the future of real estate. Because regardless of what kind of business you’re running, you’re going to need a website and/or a blog. And online shopping is the future of retail, which means…you guessed it, digital real estate.
And where else can you make 100x your money ANYWHERE?
Someone recently asked me how he could get into this business, and the simplest answer I could give you would be to start out by doing some research.
I don’t just buy domains for resale, but when I do buy domains, I don’t just ‘willy nilly’ buy them, without knowing something about the industry that they come from.
So. How DO you get into a business that lets you turn $9 into $900 without lifting a finger?
Do that research that I just mentioned.
Then when you’re satisfied that you’ve found a name that could yield you good results, you’re going to purchase your domain.
If you’re interested in actually building a blog or website on that domain, then you should purchase a hosting package as well.
But we’re talking about buying domains and re-selling them without doing any other work. The best way to get started is to do your research like I said before.
You want to start with a niche, and SEO research. So if there’s a niche that you’re interested in, your best bet is to start there.
If knitting is your thing, check out what niches inside the topic of knitting get a lot of searches, (like knitting a specific product like baby booties or blankets) but not so many that you’ll get drowned out.
Most of my domain sales come from “nichey” topics. I choose a niche, then I drill down further into that niche to find a name that someone will likely want to buy. These are usually people who are interested in starting a business, and want your domain to use with their business website or blog.
Once you’ve chosen your niche, and purchased your domain, rather than wait around for someone to come along and make you an offer, you’re going to list your domain for sale, or put it into an auction.