if you dont want to pay anything, you can use free domain parking.
i always use this SEOPARKING.COM
with this, all my domain will be generated by seoparking content. all automated. all you need to do just a domain name with TLD (top level domain) like .com, net, org or info, cn, etc, and change the dns server to seoparking. Beside that prepare your domain description, including title, description, keyword and the category. done. just be creative to make your domain blog eye catching, professional.
here is the demo : forexmild.cn, blogmild.com, bannedchecker.info and zhangziyiblog.info
you dont need traffic first. this is the best solution to make your domain usefull. if then your blog got PR 2,3 or 4, you can sell it.
hope this helping you.