Domain Name Flipping: FAQs

After reading couple of your articles, I have developed a great interest to buy the domain names (Which I have never done till date due to ignorance). So I went to the website GoDaddy.com and started searching for few of the names that I had in my mind. I got few of them which was still available for sale.

But before I proceeded with the transaction, I had couple of doubts which creeped in my mind. Here are few of the questions for which I require the clarifications:

a) Can we perform the transactions using the Indian Credit Cards?

b) How can we confirm that GoDaddy.com has given the Domain name only to us? (Do we get any documents in our name)

c) I do not have any private company registered in my name. Can I still go ahead & buy a Domain Name?

d) Once we buy the Domain name, How much does it cost to maintain / host the website?

Regards

Well, First of all, I would like to tell you that, I really like that you have started taking interest in the Virtual Real Estate of the Internet (Domain names). Believe me, The Domain Names are the next generation Asset class and Investment Opportunities. So be master in this virtual property buying & selling.

Anyways, Here is a solution of your queries.

- Yes, We can perform transactions using the Indian Credit Cards. I Personally use my Standard Chartered Credit Card and it works. You can use any Visa or Master card.

- Well, Once GoDaddy will issue you a Domain name, it will be reflected in your GoDaddy.com account. Another way to verify the ownership of the Domain Name is go to WHOIS Data base. On WHOIS database, you will find the ownership of any domain name.

Just type the name of Domain name that you have bought on WHOIS and they will give you all the details about who is the owner of that property. Here are few Domain Names that I have registered with my Company – PATEL EDUCATION PRIVATE LIMITED. You can verify it’s ownership on WHOIS.

- eFlippa.com
- iFlippa.com
- DomainFlippa.com
- BusinessFlippa.com
- eBusinessFlipper.com
- WebsiteFlippa.com
- Investta.com

All of the above properties are registered in the name of PATEL EDUCATION PRIVATE LIMITED. You can verify them on WHOIS. And the Domain names that you register in your name will show your name.

- You don’t necessarily need any privately registered company to buy Domain Names. Domain Names can be in your name also. It’s just like buying a Home. Your home can either be in your name or it can be in the name of your Company. The same thing is true about Domain name. On GoDaddy.com, they will ask you for the ownership name of the Domain Name. And there you can provide the ownership name of the property (Domain Name).

- Once you buy the Domain names, it will cost $ 10 per year to maintain the Domain name on GoDaddy.com and if you want to host a website than there are various web hosting plans available for hosting a website. HostGator.com is a good web hosting service. The Minimum plan starts from $ 5 per month.

However, if you want to buy Domain names only for Investment purpose than no need to buy a web hosting plan.

Anyways…So Go ahead with this new generation Property. Best of Luck…. The Future is Yours…!!!