Domain flipping can be a great way to make some extra money, but it’s important to be careful. There are a lot of scams out there, and it’s easy to get taken advantage of if you’re not careful.
In the video above, I discuss the story of how someone tried to scam me by selling my business without even owning the domain. This is a perfect example of why you need to be careful when flipping domains.
Do Your Research
This situation occurred on Flippa, a marketplace where you can buy and sell domains, as well as the business behind these domains. Even when using reputable platforms, it is important to do your research and remain diligent.
By taking your time to look around for the safest and most reputable platforms for your goals, you could save yourself from potential headaches. You may still be susceptible to scams on reputable platforms, though the risk is lessened.
Unexpected Issues
In this case, someone had purchased and tried to flip a domain that was very similar to ours and pass it off as our business, when in actuality, they owned a domain with a slightly different name.
So, if you’re looking to sell a domain, ensure that there are no spelling mistakes, that you own the domain that you’re trying to flip, and that you are willing to fix issues with your listing.
If you’re looking to purchase a domain, be aware of domain squatters, and do your research to be sure that the domain you’re interested in is available and doesn’t have any major issues.
The Power of Community
It is known that being vocal and building a strong brand image is important in multiple ways.
AccessAlly’s brand image was significant in this situation as it alerted those in the community that something was off. The company’s values clashed with the action of domain flipping.
Through the power of community, the issue was found quickly and resolved.
Overall…
Domain flipping can be a good way to make some money. Being part of a community can help you stay safe and find potential issues quickly. However, research, caution, and an awareness of scams should always be top-of-mind when domain flipping in order to spot problems before they become a nuisance or to avoid issues entirely.
