This truly is the business to get into in 2005. It's a red hot opportunity that can make you anything from $150 to $3000+ a week part time. And this article will walk you step-by-step through the money-making process.

There are a few ways you can make money buying domain names and selling them on for profit. And I mean PROFIT. You'll see why people will be scratching at your door to buy off you in just a moment.

But first let's start with the basics.

All domain names are only registered for a limited amount of time.Registrars can choose to use the name for a period of between 1-10 years. After this the rights to these domain names expire and the user has to renew the name again. If they don't do this it will be placed on hold for a short time and then deleted. This means it is then availible for anyone who wants to buy it!

This Is Where You Can Cash In!

20,000 expired domain names are made availible each and every day. Some of them are very attractive and well-established names.

The owners of many of these domain names will have accidently let them expire. But their carelessness is our gain.

You see you can "grab" these domain names (a term used for purchasing an expired domain name) for around $10 and then sell them back to the old owner for hundreds of dollars!

The owner will be willing to pay huge sums to you because they had built up qualified traffic over X amount of years and didn't want to lose all the previous custom.

It's not just businesses that have carelessly let their domain name expire that will buy off of you. It's other businesses too that will buy the name to get the old owners' traffic. It's a legitamate way of increasing your customer base.

But is this a legitamate business? YOU BET! There's nothing shady or untoward about this business in the slightest. That's why entrepreneurs in the know are making money hand over fist.

So let's move on. There are two main reasons why people will be willing to pay YOU a couple of hundred dollars for a domain name.

a) They carelessly let the domain name expire. That means that they will pay you to get the name back to ensure that they don't lose their existing traffic that they may have built up over years and years.

B) They are a business in the same field as the one that has let the name expire and therfore will pay you to secure the exisitng custom of a rival.

Here's step-by-step how you go about this fantastically profitable part time business.

There are several sources of expired domain name information and reserach tools, some free and some that require a payment of a fee.

www.wehavethem.com supplies lists of names due to be deleted.

What you are looking for is an expired domain name with traffic in the last month of anything over 1500 (download the Alexa toolbar for this info @ www.alexa.com). Ensure that the site is an actual consumer site. There's no point buying a domain name if the previous site wasn't selling any goods.

If you see a site that had tens of thousands of visitors in the last month GET IT. The likeliness is that the previous owners will be itching to get their name back off of you due to its obvious success.

Also if you see a name with a large qualified traffic thats due to expire and has a high traffic volume use an automated grabbing system such as www.snapnames.com and www.pool.com. These will ensure the second they become availible you will have registered them. The cost is about $60 but only if they get the names for you. Definately worth it in my eyes.

Remember you could easily sell the name for hundreds, maybe thousands.

In part 2 we'll take a look at how you go about selling the names once you have acquired them. But in the mean time here's a few domain names which were up for sale at the time of writing this article. Now obviously not all names sell for this much, but it's a very real possibility that you could stumble across a gem in your business.

my.com $750,000 lovelife.com $350,000 fights.net $16,000 diet.us $35,000 askdoctors.com $7,500 dietary.info $6,000 lovemaking.info $10,000 textmeassage.net $17,000 ejobmarket.com $1,800 smokers.tv $5,000 teens.org $22,000 raregifts.com $20,000

The profits in this business are like no other. Now it's your turn to get your hands on your share in the billion dollar industry of buying and selling domain names.

Until next time...

Jonathan Street

About The Author

Jonathan Street invites you to take a free look at his course "How To Become A Domain Name Ninja In One Day" at his site www.buyingandsellingdomainnames.com.