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Top 10 Ways to Make Money on the Internet

Domain Name Flipping

Based on luck, strategy and business savvy, domain name flipping can be one of the more lucrative ways to earn a living online. The term comes from the real estate trick that involves buying old, undervalued houses, fixing them up to make them more attractive and modern-looking and selling them for a much higher prices.

In this case, the old and outdated place is not a house, but rather a domain name -- the main address for a Web page. With a little bit of searching, dedicated domain flippers locate unused, poorly maintained Web sites that have generic and recognizable identifiers and buy them. They usually pay a few hundred or even a few thousand dollars, but after extensive updates that make the site more business- and user-friendly, the domain name can fetch several times more than it was originally worth. The domain, for instance, was bought for a mere $1,800 in 2005 -- after a redesign two years later, the site was sold for $173,000 to a bird cage vendor [source: Bhattarai].