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Pick up a similar name with 2 words for 7 bucks, spend 800 on a design, spend 5k on content, make a killer paysite and put 14k in your pocket.
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What you described is called "WORK".
When you buy a type in name, your work ends once you find the sponsor to direct the traffic to.
Polish, from my own experience with my names, traffic goes up for the last few years.