First you need domain names ..

Then you park , develop or sell ..

Make a profit .. wash , rinse & repeat .

EASY.

Domain Reseller Solutions : WildWest Reseller Sites

Get yourself a domain reseller site . Register your names there . Its cheap and you may create a secondary income from others using your site !

Pick you names or Niche

Read the Domain Forums , The Domain Profits Guide , Domain Profiteer & Revenue Domains Exposed.

Choose your parking companies … I suggest that you sign up to as many as you can , so you can find the ones that work best for your names.

Domain Sponsor , Sedo , Namedrive , Afternic , TrafficZ , Parked … to name a few .

Develope names that need a site to add real value .. But use something like X-Site Pro .. its a real no brainer .

I also suggest Hostgator as a host .. Pricing , flexibility and more importantly reliability. You will need hosting , and it is important that the host is good . Hostgator is good , X-Site Pro is great with Hostgator . They are 2 essentials for fast development of quick , but search engine friendly, sites.

Search engine friendly niche sites will soon get traffic from google etc. , and that is when revenue starts , showing ads ( usually adsense or similar ).. So place your ads in easy to click places .

Domains with websites can be easily sold on Sitepoint.com or similar places.

Use the Forums /Sedo / Afternic to resell your domains .

And read , read , read …