For anyone working online who is looking to add an income stream, domain parking may just be the ticket. Many people are making several thousand dollars a month with this innovative concept. When parking a domain it means that you've purchased the actual domain name, this can be done for as little as ten dollars per year or even less if you pay for several years in advance or buy several domains at once.

You can just hang on to them, or park them, and make some money by allowing advertisers to place ads on your parked sites. The more traffic your domain site gets the more you can earn, and charge the advertisers. While you are waiting to sell your domains you can still be earning a nice income stream.

Here are some tips to keep in mind when first starting out with parking domains:

1. In most cases it will work best if you choose a .com extension. They are still the most popular, and will be for a long time to come. Finding a domain name that is a highly searched term will help get a lot more targeted traffic for free. That is always a good selling point for a domain so make sure to take some time and do your research when choosing a domain name.

2. It's a fairly common practice to buy misspellings of domain names. By doing so, you can assure yourself that anyone who misspells the word will still end up on the right site, eventually. This can help decrease the amount of wasted traffic.

3. You should get at least 80% of the revenue earned by your parked domain. It's not hard to find a company to park your domains with. It will take a little time and some research to find the best company for you, there are a lot of them around. Just check out each one that you're considering doing business with before you sign up. Make sure you are completely comfortable with all the terms and conditions of that company.

4. You can also park domain names that you are planning on using for your own business but just don't have time right now to set up. You can park them for a short time and earn a little extra cash until your ready to tackle that project and get your website set up.

5. By targeting the right keywords on your landing page you can greatly increase the amount of organic traffic you get, thus increasing your potential income. So choose wisely. Make sure that any company you're thinking about working with will allow you a lot of leeway when it comes to the landing page layout.

If you want to increase your online income by using domain parking as another revenue stream, or if you've just bought up a bunch of great domain names but you don't have the time right now to put websites up, you can make some extra cash. More and more savvy internet marketers are getting wise to the idea that you can park a domain and make a lot of extra cash, it's really kind of a no brainer!