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It does require good knowledge of domain names, page rank, etc. You can fine domains available for sale on different websites like Flippa, SnapNames, etc. Look for domain names on these websites that are for sale on a low price and that have a high page ranking. You can buy these domains and later sell them on profit.
http://www.flippa.com
http://www.snapnames.com
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Yes, I agree with faruk hassan,it needs determination and will. You also need a site that you can count on in starting up your business. Just like domainka.com which you can count on in terms of buying and selling domains. Old domain names or new ones, 2 or 3 letter domains or more, different TLDs and different PR. All you can find in domainka.com.
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