Make money online with domain names
There are different reasons why people buy domains. Most people only consider the actual name of a Domain when they buy it. There are other factors that go into a domain name. Most people think that type-in traffic only works for short easy to remember domain names. Some domains get abandoned for different reasons. Sometimes it is because the company went out of business or they just forgot to renew their registration.
When you get a domain it also has search engine value. Older domains have authority and backlinks. There are black hat and white hat considerations when doing this. It is black hat to buy a site about one subject and then make it about another. This will work for a time but is a short-term solution. Search engines will ban you at some point. It is white hat to buy a site that is about the same subject and keep the site on topic. This is a legit business practice and happens all the time. Companies buy each other out all the time and consolidate websites. What you are doing is buying a company and then making changes to the website.