College Dropout makes 300k USD flipping domains
August 14th, 2008It wasn’t a great school year for Steven McDonald. He didn’t win a single track meet, and he was rejected or wait-listed by every college he applied to. McDonald’s fiscal year, however, has been phenomenal.
It started last September, when he paid $620 for the Internet domain name qsd.com and, two weeks later, sold it for $12,000 to a fellow domain trader, or “domainer.” Since that first investment, McDonald has grossed $325,000 from flipping domains.
“It’s pretty cool,” says the Southbury, Conn., teenager.
… reports famous Forbes Magazine. And explaines …
As the real estate and credit markets plummet, the so-called domain aftermarket, where Internet addresses that cost less than $10 to register are bought and resold for thousands of dollars, is thriving.
Where on the face on the earth has a college dropout the chance to make 300k USD with nearly zero investment? Domain flipping is still red hot! And recessions produce great opportunities!
Pretty cool! Thumbs up to this rookie fellow!
Happy mining,
Namewise
