|Scooped by Shane Marks|
As today’s world becomes more focused on the internet, creating passive income streams has become the new trend to earn money. One of the more profitable ways to earn residual income through the internet is flipping domain names, website flipping or web hosting reseller; however, it is important to be properly informed on the income-generating idea before you jump in. This infographic is a includes a brief background regarding domain names, the profitability of domains names, and a step by step guide to flipping domain names. Domain flipping means buying domains that are priced low and then selling them for a higher price. The fiercest competition is for domains that use short generic words like porn.com or fund.com to describe lucrative internet business. Fund.com was sold for $10 million in March 2008. The highest reported sale of a three-letter domain in 2008 was $202,000 for cpc.com. The web address was sold to Contract Pharmacal Corp. by the registrar Moniker. There is also hierarchy in the value of domains based on popularity of the suffix or “extension” that follows the name. For example, a “.com” domain name is generally more valuable than “.org” or “.net”. Dot-com is always going to be the blue chip standard because the extension is already deeply ingrained in the minds of internet users.