The  Costs:

• Domain Name (~$8) — Buy from 1and1
• Web Hosting (~$40/yr) — Buy from HostGator

The Benefits:

• $100-$1000+ per website  sold… remember, your one hosting account at HostGator can hold every site you make!

The payoff and profit potential is pretty clear, and if you do this time & time again you will net yourself a huge profit margin on every dollar you invest. Eventually, your only real cost is the domain names you purchase… and you can grab them for under $10 nowadays.

The Method

No need for fluff material here, let’s get into the ten steps:

Step One: Idea Generation
The first thing that I want you to do is take out a pad of paper and a pen. Take five minutes and think about a dozen or so different types of businesses. This could be anything from a “racing company” to a “florist” so use your imagination!

Step Two: Get Local!
In order to make this profitable and not just like any other domain flipping technique, what we are going to do is add a little local flare to it. Choose one town or local city (think somewhat mid-size like “Detroit” or “Georgetown”), and keep in mind that this doesn’t need to be necessarily where you live.

Step Three: Combination Domain Names
The next move for you to make, and the most important, is to find a domain name combining your business with your location. For example, I could have “GeorgetownFlorist.com” or “DetroitRacing.com”. The hard part is finding names that aren’t already taken,  so it may take awhile for you to manually input combinations into a domain registrar website. One solution is to use software like Domain Name Analyzer (available for free here) to search combos out for you.

Step Four: Adding A Word
Knowing that most of your combination domain names might already be taken, you should experiment with adding short words to get something unique that you can register. Try adding words like “best” or “in” (example: “FloristsInGeorgetown.com” or “BestDetroitRacing.com”)! The software we showed you above can help you combine names and hopefully find a great one.

Step Five: Search It Out
Now we are going to see if we have a winner… go ahead and take the domain names that you just created and enter them into Google. What you are looking for is the ads on the right-hand side — the domain names that have more sponsored links are the ones you should use. For example “Best Detroit Racing” showed no sponsored results… but “Florists In Georgetown” had quite a few, including a local business which is even better!)

Step Six: Registration
Step Six is pretty simple, log into 1and1.com (for $8 domain names) or GoDaddy (usually more like $10, but there are more coupons) to register the domain name(s) that you have selected!

Step Seven: Record Contact Information
Now you need to go to each website and grab the contact information for the site’s owner. This is why any kind of small business will be especially good for the method. If necessary, use iwhois.com to figure out who bought the domain name.

Step Eight: Make a Blog for Each Domain Name
You don’t need anything special, in fact it probably won’t take more than 10 minutes if you know what you are doing. With HostGator, you can install WordPress blogs through their CPanel administrative backend with one click.  What goes on the actual website? Just put the names and contact information about the businesses you just grabbed in step seven! Don’t forget to edit out the big store names — if you only put mom & pop stores you will be much better off. The headline and title of your website will be your domain name phrase (i.e. “Florists In Georgetown”).

Interestingly enough, very simplified websites like these will index into Google quickly. It’s not uncommon to see the target phrase in the top 5 for your keyword within the week — but even if it doesn’t get there immediately don’t panic! You can always do some quick article writing or basic marketing to boost your rank.

Step Nine: Send Emails to Prospective Buyers
“Good afternoon Mom&PopGeorgetownFlorist.com, I just noticed that you are paying Google to sponsor ads for your keywords. You can boost your rankings even more by buying my website, which is already ranked for your keyword. I’m number 3 and 4 in the rankings and am currently providing traffic to you and all your competitors. Whoever buys the site will get exclusive traffic rights and score better exposure online!”

Naturally your actual email should be more formal, but it just goes to show that you really have a great opportunity for all of these small business owners. Be sure to put your real full name, address and email so that they can respond to you… and definitely include unique information about their business in the message so they know you aren’t spamming.

Step Ten: Sell The Thing!
This is my favorite step… just sit back and wait for the offers to come in. Feel free to make other websites in your spare time. I think the whole process start to finish should take around 3 hours, and you can easily make hundreds on every sell if you find a niche that is competitive enough.

If you enjoyed this free tutorial, don’t forget to share it with your friends!
-Jimvesting.com

Related posts:

1. Build-A-Blog Workshop Day 4: Linking Your Domain Name to Hosting Account
2. Build-A-Blog Workshop Day 1: Domain Name Research & Idea Generation
3. Creating A Blog – Part Two: Finding a Great Domain Name

Before you get started, you probably have one question on your mind: how much do online freelance writers earn? While there is an “income range” that you want to become familiar with, there is no one answer to this question.

On the low end, there are people in many parts of the world charging as little as $1/500 words. This is not a reasonable wage for somebody living in the United States, for example. But just because there are people working at a low rate doesn’t mean you have to follow in their footsteps.

At the high end of the market, I know many freelance writers earning in excess of $1/word. While it takes some time to reach this level, it is more than possible if you stay the course and continue to work your way up the income ladder. A bit of quick math shows that a 500 word piece (blog post, sales letter, keyword article, etc.) would result in a payment of $500.

In the past, high paying freelance writing gigs could only be found in large national magazines. This is no longer the case, thanks to the internet. More and more webmasters and companies are forking out big bucks for online content. The internet is how they connect with the majority of their customers and clients. For this reason, they want the “best words” representing them at all times.

There are thousands of freelance writers earning somewhere between the low end and the high end. It is good to know that the opportunity to earn a lot of money exists.

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Believe it or not, you don’t need thousands of dollars to make money online. There are many people who have started with nothing, but quickly rose through the ranks and are now earning a solid income.

Let’s take a closer look at what you need to get started, as well as how much it will cost.

Generally speaking, you will have to spend roughly $10/year for a domain name and $5/month for hosting. Of course, this greatly varies based on how you are trying to make money online. But guess what? You can get your feet wet with a free website if you don’t have a single dollar to your name.

Once you have your site up and running you are in position to chase after some money. Many beginners go the easy route and attempt to make money with AdSense. Others focus more on content, and hope that this will eventually bring them enough traffic to sell private advertisements.

What about affiliate marketing? Don’t you need a lot of money to get started? Even though a big budget will help, it is not necessary. If you have money, there is no denying that you can speed things up by purchasing traffic. But on the other hand, don’t overlook the fact that you can drive free traffic through link exchanges and article directory submissions among other methods.

So, what do you think? Does it take money to make money online? In short, the answer is yes and no. You will probably need some money, but to get started a few dollars is more than enough. Don’t miss out on your chance to make money online because you think you need a huge investment to get started.

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What can you do about this?

If you can find a mentor who is already making money online, you will be putting yourself in much better position to achieve success now and in the future. While it may sound impossible, finding a mentor can be very easy if you know where to look.

1. Turn to your friends first. Do you know somebody who has been making money online for many years? Why not ask them to show you the ropes? This is a great way to learn from somebody close to you who is already achieving the success you are chasing.

2. Ask your network for advice. While you may not know somebody who is making money online, somebody in your network may be able to hook you up with the right person. Talk to as many people as possible about your goals. The more networking you do the better chance there is that you will eventually find a mentor. It may take a few days, it may take a few months – just make sure you stick with your search.

3. Send emails to those you admire. Believe it or not, many people who are making money online are willing to help others. If you send out enough emails, you will eventually find somebody who can show you the way. It can take a while to develop a mentor – student relationship, but you have to start somewhere.

Even if you don’t find free help, you may come across a “mentoring program” that could be invaluable to your career. No matter if you are searching for a blogging course, freelance writing course, or something else, you can find a mentorship program that will point you in the right direction.

Always remember this: no matter how much you know there is somebody who knows more. If you want to make money online, find that person and see if they are willing to help.

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If you want to make money online as a freelance writer you can focus on several areas:

1. Web content. Content is king, right? Webmasters, affiliate marketers, and companies of all sizes need web content in order to keep their business running smoothly. Do you have what it takes to provide what they need? Not only is there a big market for this type of content at the present time, but it is growing as the days go by.

2. Sales letters, marketing material, and more. Don’t get caught thinking that basic web content is the only way that you can make money as an online freelance writer. In fact, this is not even the tip of the iceberg. If you really want to make big money, get involved with writing sales letters and other types of marketing material. These types of projects payout better than web content. Along with this, they are often times more exciting.

3. Create your own money making websites. If you are a freelance writer one thing is for sure: you are skilled at creating content. Rather than work for others all the time, why not put some effort into building out your own sites? By doing this, you can supplement your income while growing a “side business.”

If you want to make money online, do not overlook freelance writing and the benefits that this career offers.

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If you look at a popular blog, one that has a reputation for generating a lot of money, it is easy to believe that the blogger is doing everything himself. But if you dig a bit deeper, you will find out soon enough that there are others helping out behind the scenes.

Here are several reasons why you need the assistance of others if you are interested in making money online:

1. Other people can help to keep you on track. No matter if you are a blogger, affiliate marketer, or some other type of online professional, it is important to have a network of friends who can help you stay the course. There will be times when you need a push. It is nice to know that there are people watching out for you.

2. No matter how much money you are making, there will come a time when you have a question. Wouldn’t it be nice to have a list of people you can call on when something stumps you? For instance, if you need help writing a sales letter it would be advantageous to call a copywriter. If you are struggling with a particular aspect of a new campaign, calling your affiliate manager is the logical first step.

Don’t get so full of yourself that you begin to believe you know everything.

3. Outsource, outsource, outsource. How many times have you heard this over the past few weeks? Many people who are making money online have figured out the key to success: they focus on what they are good at, while outsourcing the rest. Believe it or not, some entrepreneurs outsource 90 percent of their business or more. All they do is manage the operation and collect the profits.

Useful links: Freelancer.com, Elance.com, The 4-Hour Workweek.

The next time you think you can do it all on your own, remember the three points detailed above.

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It is easy to look at the so-called “online money making gurus” and think that they have always been cleaning up. But nothing could be further from the truth – even the best of the best hit roadblocks from time to time.

What will you do when you hit your next roadblock? You have several options:

1. Give up and try something else. This is not what you want to do, but is quite common nonetheless. If you expect to make money online you should expect to face adversity on a regular basis. Those who continually give up and try something new will never make the progress that they are hoping for.

2. Find a solution. Those who are making a lot of money online have one thing in common: they are skilled problem solvers. When they hit a roadblock they forge ahead as opposed to looking for an easier path to success. As you begin to make money online you may not feel confident in your problem solving abilities. Fortunately, with time comes experience. And with experience comes the ability to deal with anything that gets in your way.

No matter who you are or how you are trying to make money online, there will be times when you feel like you are stuck in a rut. Affiliate marketers find themselves in this spot when a campaign dries up. Freelance writers face adversity in the form of clients who no longer need their services.

Don’t run into roadblocks and stop. Instead, find a way to go around them – no matter what it takes.

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Here are five misconceptions to avoid:

1. There is only one way to make money online. While this is what many people believe, it is far from the truth. From affiliate marketing to private ad sales to freelance writing, there are many great ways to make money using the internet. If you only consider one option you may find it difficult to make any progress. In many cases, making money online is a trial and error process. If the first thing doesn’t work, try another and so on.

2. It is simple and fast. If you believe that making money online is a “get rich quick” strategy you are totally off-base. It is easy to believe this when you look at how simple it is for some people to earn big time money. But remember this: they started at the bottom just like you. Those who are making good money online did not do so early in their career. If you want to reach the top you need to put in your time.

3. It takes a lot of money to make a lot of money. While it doesn’t hurt to have money to invest, you do not need thousands of dollars to become a success. In fact, if you have enough money for a domain name and hosting you have all you need to get started. As you begin to make money you will have more to invest. When it comes to getting started, though, you do not need a lot of financial backing.

4. It is all about luck. There is no denying that luck plays some part in achieving online success. This may be the case, but you cannot fully rely on it. Instead, you need to make your own luck through hard work, patience, and determination. If you stick with your plan long enough, you will find that you are making your own breaks.

5. The internet is too crowded – there is no room for me. Although this sounds silly to some people, others believe it with all their heart. Even though there are millions of people attempting to make money online, there is always room for more. With so many ways to make money, as well as many different approaches to each method, you can carve out your own niche in no time at all. Don’t let anybody tell you that the internet is saturated. There is enough room for anybody who wants to get involved.

If you believe any of these misconceptions you are holding yourself back. There is no better time than now to make money online. Don’t let anything stand in your way.

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