The second option requires a bit more time and effort than a 301 redirect. You could do a mini overhaul of the site and turn it into a microsite for your main domain. This option is good for exact-match domains for your targeted keyword, and there are other reasons for going the microsite route that Rand's highlighted in his post about root domains, subdomains, subfolders and microsites. This strategy also works better if the old domain has decent rankings for the keywords you're targeting.
I am really new to all this. I am about to launch my blog in the next week. I have a domain and a wordpress blog set ready to go. Clearly it will have no traffic from day one and I guess it will take a while to build up. So my question is would you advise a begginer like me to stick with the one blog for a while and build it up. Or is it worth investing the time early on to master how to find expired domains and link them to the blog?
Everybody going to start using old domains should also know how to get them, I'm going to post soon article about it on seomoz as there are several ways starting from online rankings and lists up to dedicated seo tools that you can run on your computer and get precise and actual data on demand for any domains lists. Anybody intersting in such tools please visit our website: http://en.exdomain.eu/

That’s awesome. For someone that’s willing to “dial for dollars”, I bet there would be a percentage that would convert. It’s a funnel, and the more you put in the top, the more you’ll get out the bottom. 66% success rate sounds high, but I have no data…one would have to try it and see. If anyone is interested, I’d love to interview you after you’ve made the calls and gathered the data!
Although I have one query (this answer does answer it, but I have a doubt)… I just bought a domain which had the creation date as 2010 but after acquisition upon checking I found that it has been reset to 2014. So, from what I understand from your article, this could not be undone anyways because this particular domain’s status said as ‘Expired’ and I got it for under $10 from godaddy?
i had a backorder for a domian that was registered at godaddy. The backorder of the domain says the domain expires feb 23, 2015. However, when i check the whois on different websites, it now says the domain is registered through feb 2016. However, GODADDY back ordering still has the domain with the expiration date of feb 23, 2015. Why would they be showing 2 different dates? The domain is not even in an auction, so the 2016 seems like the new correct date?
Great article on what to look for when buying expired domains! I’ve looked at the domain and page authority of expired domains but haven’t checked if they are blocked by Google like you’ve listed. I haven’t pulled the trigger yet to purchase one (probably good that I didn’t since I didn’t do all my homework) but this will make it easier to finally go. Thanks for the great info!
If you buy a domain from a 3rd party, the backlinks are valuable.  I always wait a few months before redirecting, so just set up a quick minisite until two page rank updates have passed and then go ahead and 301 redirect.  However, it seems that you'll get the link juice from the back links, the anchor text is ignored by Google.   Buying a domain at Godaddy TDName expired auctions, seem to not count as a dropped domain if you immediately set up a mini-site.
There is no easy way to explain “all” things about expired domain names. As you stated Michael, Network Solutions domain names go to the partnered domain auction service NameJet.com BUT, not “all” do… NSI customers have the option to opt-out of having expired domains go to auction. If a customer picks this option, the domain name would go through the drop process and go PendingDelete around the 71st day after the expire date. When it is released from the registry, the domain name is fair game to the major dropcatching services and the private ones. This still doesn’t mean anybody would grab it, and the domain may become available to hand register.
I've seen some people comment about losing the link value of domains that have expired and picked up, but what about non-expired domains?  Let's say a competitor is going out of business and they still have a year or two left, and we buy their domain and site.  Is there a risk changing registrant info and registrars, even if I keep their site up and mostly the same as before?  I was under the impression that I'd want to keep it under their name so as not to hit the uber-reset button on the domain's inbound link value.
Let's face it, if you want to make money off the internet, you have to wrap your mind around one central rule: no traffic means no money. Making money online is all about being able to generate traffic from social media sites, search engines, and all other sources of online traffic. It's impossible to make money as an affiliate if you don't have traffic to convert into cold hard dollars. There are, of course, many ways to generate traffic. You can write content and organically attract search engine traffic. You can post a unique blog post on willing third party blogs and enjoy direct traffic along with SEO benefits. You can also promote affiliate links on social media platforms and get traffic that way. In fact, if you really think about it hard enough, generating traffic is really not that difficult.

"Expired Domains" will help you grab and search through all those domains that are expiring in a organized matter. You will be amazed how many good domains are expiring every day. With Expired Domains you should be able to find a domain you are looking for. It may take some time, and you should not expect to grab something like credit.com. Sometimes you will also need to use a backorder service to assure (as much as possible) that someone who aimed at the same domain as you doesn't grab it before you does.
The dropdate for the following TLDs is not verified. Domains might drop earlier or later: .eu .cat .travel .ae .af .as .at .aw .be .bg .bi .bj .bo .bw .cl .co .cx .cz .dk .dm .es .fi .fo .fr .gd .gg .gi .hk .hr .hu .ie .io .iq .ir .je .jp .ki .kz .lt .lu .lv .md .mg .mx .nl .nc .nf .no .nz .pe .pf .pl .pt .ru .sg .si .sm .sn .so .st .su .sx .to .uk .uz .za .berlin .cloud
×