Anyone can buy virtual property since all you have to do is register a domain name, which can be done in minutes. This is a lot simpler than buying physical real estate.
I personally love virtual real estate since it’s easy to get started, you don’t need to tie up much cash, you don’t have to deal with banks and title companies and mountains of fear-based paperwork, it’s easy to maintain, and there are so many ways to monetise it with new ways being dreamed up every year.
I started this www.craftystudios.co.uk for a total out of pocket cost of £0. My only expense was registering the domain name. hosting is provided free, so I didn’t have to pay anything extra for web hosting. After that, everything I spent to improve the website, such as software purchases and hosting upgrades, all came out of the site’s revenue. Try buying physical real estate with only a £0 investment. You can spend more than that on petrol just driving around to look at properties.
My favourite way to build traffic to a website is with lots of quality free content. This attracts visitors, links, and search rankings that can help maintain and increase the value of the property over time. When my site had no traffic, I posted this free content off site, so people could actually find it. This external content then helped drive traffic to my own site.
Traffic is key. Once you have traffic, you can monetise it in so many different ways. You can sell advertising, use affiliate programs, do joint-venture deals, solicit donations, sell subscriptions to a membership site, and more.
Largely this comes down to testing and experimenting. Every site is unique, so what works for one may not work for another.
Our goal is to find multiple income streams, and the more passive the better.