|Cash Parking Means $$$|
I could talk to you until I’m blue in the face about how much I believe in having multiple streams of income. Often I am asked about mine. Well, if you want to know all my secrets, you’ll have to wait for the E-book. But, until then, I have a tidbit of knowledge I’m going to drop on you.
Domain reselling and Cash Parking
Wait. Stay with me. I can see that glazed look in your eyes already. You are already technolgied out.
It’s really easy. Here’s an example.
I get my free Godaddy account and decide I want to dabble in domain reselling. I purchase righteousideas.com for $9.99 a year and then buy the .net .biz and .me variations for an additional $5. I spend a grand total of $14.99.
On these domains, I click a button that says I allow Godaddy to park ads on that page for free –because I’m not going to do anything with it. Now, whenever someone goes to righteousideas.com, they see adds. When they click on any one of those ads, I get paid. If I pick a domain name that is likely to get a lot of traffic, I make back my $14.99 in a matter of a few days. The rest is profit.
From here, I wait. I put righteousideas.com up for sale in the Godaddy auction house and in a few other auction houses across the web. My starting price is $50. A couple of people get in a bidding war and drive the price up to $100. Now, I made my profit back and then some.
Of course, you have to use common sense. Not every domain is going to be hot, and you do have to have a fair amount of patience for some domain names to sell, but if you are smart, you start buying domain names in bulk –maybe even a few off the auction house. Then, you wait for the hungry young entrepreneur to come to you with their idea. You hold the cards…well, the domain names anyway.
This is a great, powerful, inventory free way to make some extra cash. I love it and it takes a minimal amount of effort –I put in maybe 2 hours per week and net a few hundred dollars a month.
Here’s the thing: You don’t have to be tech savvy (well, really tech savvy to do it). Go daddy makes it easy. Sign up for a free Godaddy account and they walk you through the steps of domain name reselling and cash parking without a lot of tech talk. Best thing is, you don’t need to invest in it. Just go read more about it and see if it’s for you. Then, let me know how you fare.
Check out other ways to earn on the blog!