What makes a good domain name? It helps when it relates to a popular trend like music, games, or movies. The domain speculator must be careful, though, to avoid any name that could be considered a trademark or copyright infringement. If they fail to heed the warnings, they'll usually find themselves on the short end of a lawsuit and lose the domain name and a lot of money in the long run.

One of the easiest ways to make money with a domains is to generate consistent traffic. If the name has a popular, generic sound to it, it's quite possible it may generate a lot of type-in traffic.

Type-in traffic is when surfers simply type a common word or phrase directly into their web browser. Now you may assume that most people use search engines to find what they are looking for, but a recent UCLA study reported 86% of online consumers reach websites though type-in navigation.

With all of this free traffic, it's easy for a domain investor to sell even a relatively new site within a matter of days or weeks. A quick search of domains on auction sites such as eBay will reveal a vast list of names available for purchase, usually at huge multiples of the original cost. Domains that were originally purchased by a savvy investor can be sold for over $500.00 in three days or less.

And at larger domain auction houses such as Moniker.com, the best web properties can fetch upwards of $50,000.00. In fact, in early 2007, this auction house sold NewYork.info for $70,000.00 and Travel.info for $116,000.00.

A good domain name doesn't have to end in .com anymore either. With the increasing diversity of domain name extensions and the growth in the wireless market, domain name extensions seem to matter less and less.

So if you want to get in while the going is good, start brainstorming names and maybe you'll be the next person to flip a million dollar virtual real estate property.

If you want to get into domain name flipping without losing your shirt, get this Free Report on Turning Domains Into Dollars.

Don't miss out on the action and learn the insider secrets to what it takes to become successful with domaining. Check out the Domains Into Dollars video training series and learn the ropes from one of the most prolific domaining authorities, Phil Craig.

The author of this article, Jimmy Roberts, is a web entrepreneur and specializes in building web businesses and internet marketing. He has been online since shortly after the first man walked the moon and is called "nethusalem" by some of his friends.