Buying domain names and selling them is a very popular way to make money online. The process of buying and selling domain names is commonly called domain flipping. Domain flipping is like the real estate of the online world and just like you would be careful about buying a damaged house, you should also be careful about buying bad domain names.
Avoid domain names that have too many dashes in them. For example, dashes-in-my-domain.com is not as profitable as dashesinmydomain.com. Search engines see websites with lots of dashes as being less authoritative compared to names with no dashes.
Long domain names are another one to avoid. Longestdomainnameofall.com will be hard for people to remember easily, so these are not as profitable. Short.com would be a better choice because visitors would remember it easily.
Most importantly, do not be what is called a "typo squatter". These guys buy up domain names that sound similar, or are common misspellings of trademarked names. Not only is it an awful process, but it is also illegal and could get you jail time. One particular guy who was doing this had racked up a list of over five thousand domain names which were variations on copyrighted terms. The worst part was, he was re-directing visitors to pornographic sites. He was sentenced to two and a half years in jail and had to pay huge fines.
If you are serious about starting your own domain flipping empire, websites such as dnflipping.com can help you get started and teach you the formula to use when buying domain names. The three rules above are a great starting point, but there are many other possible mistakes.
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