Purchasing a domain is a great investment and does not require much money. All you need is about $10 to $20 to put down on a name per year. This will depend on the extension you use.
You can compare domain flipping to the real estate market as value of a web domain usually always increases. I have heard of many organizations that have large amounts of capital investing heavily in purchasing multiple domain names.
How can you find a good name?
With so many of the good names already taken it can be hard to find a name that is suitable. There is a great tool at Thexyz Hosting that will allow you to search for only available domains based on a keyword or key phrase.
Alternative extensions or country code top-Level domains
While the most popular top-level domain on the internet has always been .COM, there are interesting sites using other country codes, known as ccTLDs and ccSLDs (for second-level domains). With so many .com domains already taken, users have become creative in making use of the .in extension from India, as it can incorporate the last two letters into the name. On November 23, 1992, inter.net was registered and the term became known as a domain hack.
Some example’s of this could be:
Each ccTLD have individual rules for ownership, perhaps you have an eye on a registering a .CA domain, but live in the United States. What are the rules governing ownership of these different domains?
The .CA Domain Registration FAQ page covers the basics. Generally, the owner of a .CA domain must approve the Canadian Internet Registration Authority‘s agreement. and be either a Canadian citizen or permanent resident, or have a legal representative acting on their behalf. The full list of requirements is available here.
There are no location, citizenship or residency requirements for .UK domains, so these domains can be bought and sold freely, with the exception of .LTD.UK. These domains can only be registered by companies. The list of requirement for .uk second-level domains is available here.
.COM.AU domains are bound by a few special rules. Registrants must be an Australian registered company, partnership, association or sole trader, and have an Australian Business Number (ABN). Domain names in Australia are registered for 2 years (no more, no less!). You can read the full list of requirements for .COM.AU domains here.
Many other country code TLDs are freely available for commercial licensing, Wikipedia has a handy list of these here.