3 Disadvantages of Domain Flipping

We have covered sevearl topics on making many online on this website. Domain flipping is another way to earn an income online  with little or no experience. Domain flipping in simple terms is the act of buying domain names and reselling them at a higer price. Some gurus have testified of  making making millions of dollars by selling their domains. The latest figure i have had from domain flipping is $165,000 made in two months by a popular doamin flipper Ali Zandi  with a profits of 58K dollars.  This figures were metioned in a post on domain sherpa  one of the most popular sites for  domain reviews. It always look great when we find  People celebrating glory. At times we just make a decision without cahecking out the challenges. In my last post, i wrote on;

 Advantages of Flipping domains as an online business

Many people especially my Cameroon brothers wrote  asking me how to get started. Most of them did not tell me the challenges they will encounter. This is why i had to write this post for everyone to know the ugly side of domain fliiping.  Knowing the other side of any business helps you in preparing for the challenges. What are we going to see here?

Time Consuming

This is the greatest challenge when it comes to domain flipping.  You need time to research on the type of domain to buy.

You equally need to research on topics people are searching for word with Google adwords Tool or Bing key word tool.   Many people don’t like to buy newly registered domains since they cannot be transferred in less than 60 days. As a domain flipper you should not be expecting sales within the first two months of the domain purchase from your registrar.   Some domains take more than two years to be monetize which might end up being stressful on your path. 

You Might Feel discouraged

This is very common after year one of flipping. After doing business you cannot find any profits in your bank account and it seem you should quit. Why did you get started? Were you ready for this challenge? This feeling always makes many newbies to  jump  from one online business to another which in all end up  as the zero dollar story. It is quiet sad when it ends like that.  This is why I always tell  those I mentor to stay focused in whatever there are doing. 

It Invloves Risk

Like every business, domain flipping involves risk. If you cannot do the right thing you might end up making nothing. Some people buy domain names without even knowing who the buyer will be. Sometimes you might buy domains that violate trademarks or with bad back links which no one light be interested in.  There are other risks involve in flipping domain, however everything can be put under control with a good plan and strategy.

Consumes Cash

If you like eating pizza while working you might need to give it a halt when starting your flipping business. At the start you need to put in cash in buying domain and if possible getting some email marketing tool or auto responder for your promotions and campaigns. This is just for the start, no one like to be broke. With time you might get back to your usual life style if things are done the right way.

You are Likely to Make Many Mistakes

This is very common with newbies in the flipping business. Some common mistakes you can make as a domain flipper includes: Include buying many domains, buying the wring domain, selling at a cheaper rate and more. In the next part we will see some mistakes which you must avoid when it comes to flipping domains.

 Read:  9 Mistakes to Avoid When Flipping Domains 

This is what i have regarding the cons of domain flipping as an online business. Knowing them should not discourage you if you are thinking of getting started. Set a plan on how you will overcome these Challenges as sale through. In my  opinion domain flipping is a great business to go about to anyone who has the ability to research and willing to   exercise patience .
If you want quick cash then domain flipping might not be the good business for you.

                               What is your opinion when it comes to domain flipping?