INTERNET REAL ESTATE…Part 1
By : Wisdom Uwazie -
The President of the United States Donald J. Trump, known to be a real estate business tycoon having famous properties such as the Trump Tower in Manhattan New York city and several other condominiums made huge fortune from real estate quite early in his career. He is reputed to have once acquired a portion of land that was abandoned by other real estate agents which he developed while enjoying an enormous tax break from the city government for such development.
Notwithstanding, this may be a surprise to some who may not know that the future real estate mega money won’t be the real estate of physical properties ‘INTERNET REAL ESTATE’. The term internet real estate is used because you have some form of property on the internet and this property is what we would continually talk about in this series titled INTERNET REAL ESTATE.
When you come across anyone who owns a website on the internet, the person is like a property owner but in this case, the property is an online property. This property could either be the actual name of the website (popularly referred to as the website address or domain name), or it could be the hosting of the website itself.
While the domain name is similar to having the right of street naming, where you secure the requirements needed to name a street after yourself, the hosting is the actual erection of a structure on the said street or piece of land.
When you secure a domain name, with no urgent plan or any plan whatsoever of hosting a website (erecting a structure), then that domain name can be used to earn you some income by way of registering the domain name with some companies involved (which we would find out more about in the next series) for adverts to be scattered around a dummy webpage created by the companies for the domain name. This process of submitting your domain name for advertising is what is referred to as DOMAIN NAME PARKING. This is relatively easier to set up as compared to the hosting package because hosting which is like having a building structure gives the owner of the website the responsibility of setting up whatsoever he wishes on his site and makes him responsible for the income generation.
Let me end with this, domain name parking is similar to leasing out your street name entitlement for use for a certain period of time after which you can totally sell the name to any other person that is interested in the name. Don’t forget that you make money while the name is being held by the other person, ensuring that you have constant inflow of income.
Watch out for the next release on INTERNET REAL ESTATE as we explore more on domain parking and hosting benefits.
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