Buying and selling of domain names.  

hi,
you don't need to sell paid domain name only. you can also get paid for giving free domain names. also free hosting. please visit 'internet' section of my blog & read the article about making a free web site there you will find one free hosting & a free domain provider. they also support affiliate program. so join them & start your affiliate income like other money making sites. thanks a lot....

This idea can work very well, its just the startup costs that are a problem! But if you get around those and select some good domain names you should be set!

I know that a good way to make money off domain names is to purchase domains names that are spelled different than others that are very popular (like gogle, gooogle, etc) or to be the first to purchase domains of something that is going on (like octomom.com). Then, since you are the owner of the domain name, you can sell the domain to someone who really wants to cash in on that event or name and make yourself a profit. People have been doing this since the beginning of the internet, so it is definitely something to try if you have money to invest.