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I once bought a domain name for $800. I didn't really do anything with it for over a year. When I did start sending the traffic to the (perfect) sponsor, it earned an average of almost $100 a day for the first year. It slowed down some after that, but that felt like easy money.
I guess the "hard" part was researching, reading, looking for the domains and negotiating for them. I did spend a lot of time searching.
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