After some advice on monetising a site please

Hi Guys,

I am fairly new to BHW and wondered if anyone could help me please, I have no idea on how to monetise a site as such, however I have alot of experience in Web Design, SEO and have a number of white hat sites on page 1 of Google.

As I now have a wife (and they are expensive lol) I have just bought a Exact Match .co domain for a keyword which has 2,240,000 Global searches and 246,000 Local searches with 0.15 (Low) competition in Adwords.

I appreciate any help or advise anyone could give me on moneytising the site once it's been designed.

Thanks in advance

Hard to tell without knowing anything about the keyword/niche.
I'd think of following possibilities:
Content Locking, Adsense, CPA, Clickbank, Amazon, Selling your own E-Book, Selling your own Product, Asking businesses in the niche if they are interested in adversiting on your site, PPD.
Of course you should get some traffic first.

I hope those are "Exact" searches and not "Broad". That was my rookie mistake too. Otherwise, like Erbensuppe said, I'd recommend getting some traffic first, and then monetize second. People will be turned off to a brand new site if all they see is ads. If you want to get natural backlinks and traffic, offer great content and no ads (for now). Then when content starts adding up and traffic starts building you can introduce ads in a more natural way.