Google can find out anything to do with your registration of your domain name. I am 100% sure they aren’t going to penalize you for owning more then one site. I contracted for a company for about 4 years managing their sites. They had over 100 independent and totally unique content-based sites. We linked them back and forth to each other in articles of relevant content. We also broke our main site down and used some of the other URLs as supporting articles domains. Now this wouldn’t work well unless you have a lot of good content to put on each page and each site.

We found we had some of our “supporting-sites” ranking better for some keywords then our main site. Now typically this could be a problem but we figured as long as one of our sites were getting listed well, they are all linked together, so who cares.

Like I mentioned before, this worked for the industry I was working in at the time. I may or may not work for you. My suggestion is to take your current site and build it as large as you can and make it still look and navigate well. Then start building “sister” sites that link back and forth. You can also use the sister sites to build your reciprocal links. Your main site will benefit from being linked to a site with good link popularity.

Hope my experiences help! Just my 2-cents!
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