So after a month I ask myself “can I make money flipping domains?” and the answer would be yes. Now take into account I’m only using the method that I got from a couple of guides and I know for a fact that there are other methods that you can make money from when flipping domains. In fact this is going to be like Mythbusters where they sometimes revisit myths that they have done. I too will be revisiting this method once I find out a bit more information (this includes buying a couple more guides that cost around $97 each) so I can put them to the test.

Now the method I used was simple and even a kid could follow along and do the same. Also keep in mind that I didn’t do this everyday, I only ran 4 groups of auctions and it really was only a part time thing. I had other commitments, family , job and other online projects so time wise I really didn’t spend a lot of time doing this which is good. This of course means that those of you who are looking just to make a bit of extra money and who are able to commit more time to it will in my opinion make a lot more money.

In total for the this project I only ended up purchasing 28 domains and I only spent $70 on my credit card for the month, the rest of the domains were paid for using profits from the first and subsequent auctions. So you don’t need a huge outlay to give this a go.

Will I continue to flip domains?

Yes, it’s easy and it’s fun. With the profits I made I was able to purchase some more marketing materials for other sites, pay for my hosting for all my sites and still have Paypal funds in my account.

So how much did I make?

After all was said and done I made about $180 profit which to some people is nothing (the ones rolling around on the floor laughing)  but I guess it really depends on your financial situation. For me it’s handy to have that extra money in my Paypal account because as I’ve mentioned I can buy some more information products, pay to have articles written for me and use it for my other online ventures. So in saying that I will be running an auction at least once a month to see how much extra cash I can make because in todays world every little penny helps. Also a good chunk of the profits is going to help pay off my camera and I have seen a lens on Ebay that I want to buy!!

So what do my monthly profits buy?

I thought I would show you what each months profits could roughly buy using things that most people are familiar with so here it goes:

Well here in New Zealand I could buy around 20 Big Mac combos!

It would also fuel my car for about 3 weeks (2.00 a litre here!)

I could take the family out for dinner!

So if your looking to make a bit of extra cash and want to have a bit of fun doing it then Domain Flipping could be for you!!

Well not quite the last time but the last time for the month of May anyway. I recieved the PR3 domain into my account today so that went straight to Ebay with the other auctions and so I have 14 domains in total ready to make some money (hopefully!) There is a mix of domains up for sale and that includes some of the domains that I sold previously but the seller never ended up paying for them so I have relisted them. I actually have a couple more domains that are in my account that I forgot about but I will leave them for a later date.

Well tomorrow is the 1st June here in NZ so I will be posting the month of Junes idea then and I’ll get some of the groundwork done tonight in between watching the Super 14 finals and the replay of the NBA playoffs. Luckily I have Monday off work as it’s a public holiday over here so I should get off to a positive start with the next project although I don’t expect to see any profit for at least 2 weeks with this venture.

I will do a round up of Mays project once the last auction has run and then we will see if it was worth it all and my general thoughts on domain flipping.

For any rugby players out there, GO THE CRUSADERS!!

Catch you tomorrow!

Well today I actually got a hold of a domain flipping guide which I thought would be quite good and I was hoping it might give me an insight as to how I could squeeze some extra profits out of my last round of domain auctions.

Boy was I wrong! This guide/ebook sold for $97 US and it was pretty much crap in my opinion, it only covered really basic stuff which I was already well aware of and there were no examples of successful domain flips which was really dissapointing. You see when I purchase a product I like to see step by step pictures or video so I can replicate the system myself but with this so called guide it was sadly missing. I was hoping to write a positive review about it here but I’m not going to even bother naming the product.

On a positive note I must have about a dozen domains that are going to be up for grabs over the next couple of days for the last round of auctions for the month and I think there are some pretty decent domains there so I’m hoping for a good last round. I’m also hoping that the PR 3 domain that I purhcased will land in my account tomorrow so that I can put that on the chopping block also, here’s hoping!

Well I’ve been very slack over the last few days as I’ve been busy with a few things offline for a change. Anyway today I’ve grabbed a few domains and I will be listing the final auction for this month in a day or two. This auction will only be a 3 day auction which isn’t as good as a 5 day auction but seeing as it’s nearly the end of the month I have no choice.

I will also be relisting a couple of domains that people did not pay for within the allotted time and in addition I hope to grab a couple more today and maybe tomorrow also. Once I get this lot of auctions up and running then it will just be a matter of waiting for them to finish and then I will have a tally up to see if I’ve made money for the month and then it will be on to the next project!

Forgot to mention that I managed to grab another Page Rank 3 domain that will go on the chopping block but much like the last one I purchased it really depends on when it is actually transferred (took over a week for my last one I think) but hopefully it will sell for a profit whether it’s large or not doesn’t matter, just a profit will do!

Another thing to note is that there are a ton of Page Rank 3 domains available daily but I only buy them if they are somewhat suitable for purchase and by that I mean two or three word domains that make sence for example here are some Page Rank 3 domains that are currently available (note that I haven’t checked for PR accuracy but if I was contemplating purchasing I would verify they are PR 3 before purchasing).

vbsrweightlossmall.com
agrclassic.com
ladykatsgiftbaskets.com
theragandbonemen.com
laborassembly.org 

Notice how the domains aren’t very specific or generic enough for anybody to use so thats why I wouldn’t bother buying them even though they are PR3.

Another thing I forgot to mention is that some guy is selling a monthly subscription for expired domains, he will take a list of 50 000 - 60 000 expired domains daily and filter them down to around 5000 or less and then send them to his subscribers to look at and then they can purchase domains if they think there are any good ones. This guy uses the exact same software and technique that I have been using so I could have probably started the exact same thing when I first started this project,that would have helped the profit margin but the reality is that domain flipping was the main purpose of this blog and not setting up a subscription service but it’s an interesting twist.

Well I’ve decided to run another round of domains to be flipped instead of waiting a week to accumulate some more domains. I have about 8 ready to go and I might pick up another one tonight which will also go into next weeks domain flipping auctions.

This round of domains will be quite interesting, while I don’t think alot if any of them will sell for a huge markup I have managed to get a few bargains so it won’t take much to turn a profit it the whole point of this blog is to try and make money online full stop, not try and make huge amounts of money online (although I would be happy if I did).

So I will list these domains for sale tonight so this time they will finish at a more appropriate time when I’m home sitting in front of the computer. Actually as I am writing this I just got another domain so I’ll have a few auctions on the go next week. I’ll just start making some domain logos now for my auction so they look more professional.

At this time I have one domain from round 1 that still hasn’t been paid for so I am going to relist that auction as well, I also have another domain from round 2 that hasn’t been paid for yet but that was only a couple of days ago so I’ll give them another day before I contemplate relisting that one as well.

Part of the reason I made this blog was to help everyday people make a bit of extra cash so they could treat themselves to  a family night out one a month or something but for me any money that I make on this site goes towards my new digital camera that I purchased about a month ago.

Part of me brokering the deal with the Mrs was that I wasn’t allowed to use any of my regular internet income to help pay for the camera so I had to think of other ways to pay it off so I made this site and I’ll make another affiliate site shortly so I can pay the camera off and move on to another goal that I now have.

 My father is having his 70th next year and my sister just informed me that there are stacks of people coming to it so now I have to come up with at least $4000-6000 between now and the birthday to help pay for it all but realistically I think it will be pretty easy so I’m not too worried.

Better get busy making some money I think!

Actually one good thing I forgot to mention is that because I’ve made money from the first round of auctions every domain I have purchased has been self sufficient, meaning that I’m using the profits from the auction flipping to pay for any new domains that I purchase which is good because it means that there is not going to be a big ugly credit card statement like I intially thought and the Mrs won’t be chasing after me with a stick!

Auction day yet again and initially I thought I wasn’t going to do very well this round as up until this morning only 3 of the 7 domains had bids on them and  the 3 bids that were on it were below cost price. This included the page rank 3 domain I puchased but I was still really confident that I would make money on that one.

One slight mistake I made was to end these auctions while I was at work and being in the factory (remember I just an average Joe) meant I had no access to the internet. While it’s not overly important to be there when the  auctions end it would have been fun to watch if anything was happening.

Another little downer was that one of the auctions from the first round still has not been paid for but luckily it was the one that sold for less than the purchase price anyway so it’s not so bad.

The Results?

Well after scrambling home to see what had happened with my auctions l was happy to find that all 7 had indeed sold and as with round 1, only one of them had sold for less that purchase price so I was moderately happy with that.

Did I Make Money?

Well my domain costs for this round was around $50 for the 7 domains and I ended up…………more than TRIPLING my money! So while last round was good, this week was even better. The Page Rank 3 domain I purchased ended up selling for more than 8 times what I paid for it while another domain sold for 5 times what I paid for it and another twice what I paid for it so all in all most of the profits came from these 3 domains.

At the moment I’m in a bit of a quandry with what to do next round. At this moment in time there are a stack of people doing the same thing ( I suspect due to them purchasing the same guide as I did) that I am which means there is an oversupply of domains at the moment up for auction so I’m just wondering whether I should miss the next round and grab some more domains and have a real big domain flipping round 4 or should I just go ahead and try and flip the domains that I have purchased over the last week. At this point in time I have only got 5 domains that I can flip so I might miss a week and just concentrate on getting more domains.

That’s if for now, I’m off to scan the ususal places to see if I can find any potential domains and then I’ll think about whether or not to put some auctions up next week.

On another note I’m trying to decide when method I’m going to try to make money next week with, I’ve got a couple of ideas in my head but I’m not sure which one to pursue . I’m pretty confident which ever idea I choose I will make money but I’ve just got to decide which one to try!

Not much happening on the domain flipping scene over the last couple of days but I have got 5 domains so far which will go into the next round of auctions. Most of them I got for a bargain price and one of them is a bit of a ’stab in the dark’ which I paid normal registration price for but it’s just another domain flipping idea that i am pursuing.

Out of the 7 auctions that I have running at the moment 2 of them will definately sell and i know I’m going to make a profit on the Page Rank 3 domain as it’s already just below cost price with 2 days left to go. Hopefully as with the last lot of auctions they will all get bids closer to the end.

That’s about it for now, I’m off to see if I can snare some more domains for round 3!

Well it all seemed to happen pretty quick, at first there were only 2 bids on the 6 domains but by the time the last auction had finished I had sold all 6 and only one of them was sold for less than the purchase price so I was really stoked with that. In fact after all was said in done I had DOUBLED MY MONEY!!

So I’m quite surprised and really happy with that effort and it’s inspired me even more so I will be launching a few more auctions tonight so they finish around the same time next week. In between I will be hunting down a few more domains and hopefully a few more bargains. At the end of this month I will release the week by week profit/loss for people to see.

With my next lot of auctions I’m going to try and systemise everything to make putting the auctions up faster so I spend less time doing it. With the first lot of auctions I spent quite a few hours setting everything up and re-familiarising myself with Ebay. I plan to make a nice template for my next lof of auctions and maybe even try a few designs things with photoshop to make it more appealing (I’m really a newbie at photoshop) which hopefully leads to higher bids.

On a sour note I’m still waiting for a domain that I purchased a week ago to be transferred to my account but hopefully it will be transferred soon. Anyway I’m off now to look for some more domains so I can hopefully make some more cash!

Well today is auction day for the domains that I purchased last week and at the moment there is not a lot to report. I’m kind of anxious because out of the 6 domains only 2 have any bids on them so as I write this post I’m looking at a loss which isn’t the plan to say the least!

I’m well aware how ever that things can quickly change so I’m hoping there are some lurkers who are waiting until the last second to make some bids.

At the moment I still have another 5 domains which I will have to set up tomorrow or the next day for sale but once I get this lot of 6 out of the way I will have some idea on what I can do to make the domains more appealing so I can hopefully make money (or even break even would be nice at this stage!)

Will report back tomorrow with results!!

I’ve come to a realisation that there is a problem with one of the domain flipping methods I am using. You see one of the guides I purchased was basically brand spanking new but quite a few people purchased it. This lead to a whole lot of people trying to implement the same strategy at the same time which isn’t very good because it means there is an oversupply of these domains available which means they are selling for very very low prices.

So in order to combat this I am going to stray from the method outlined in a book and use my own idea for the next couple of weeks to pick up some real bargains. In saying that I did pick up 3 more domains using the methods outlined in the guides so you can add another $25 that I am now out of pocket. This means I’m out around $80 for this experiment but I’m pretty confident by the end of the month, all said and done that I will be in profit allbeit a small one.

One small glimmer of hope is that one of my domains actually got a bid on it but the others are still sitting there but tomorrows another day and you never know what might happen.

On a completely different note I wrote a testimonial for a product that I reviewed (money making product) which is actually my first testimonial that I have submitted anywhere on the net. Due to this product that I was reviewing I’ve decided it will be my next affiliate product that I build a site around so I’m going to be pretty busy this month but all is good!

Later!