I read a book once titled “Get Real and Get rich” or something like that, I don’t remember the exact title. In the book the author relive that his secret to getting rich was by starting a part-time business, bidding on paint jobs on newly developed apartments. By bidding a $100 dollars lower than the lowest bid, he managed to saved enough money to start investing and finally achieved financial freedom. This is the only part of the story I remember, as I was trying to figure out how I can do the same but do it online. The first thought would be to make used of my programming skills and start offering my services, but if you to compare both. A website is dynamic, every project is different, requirement changes, its not like painting a house one after the other. What I need is to find something, that I could duplicate. The best approach is to develop a series of websites and sell them. Still, it requires hard work and a specialize skill.
Flipping website, is a concept which you buy a websites and sell it off at a higher value. To sell a website, we need to know what the buyers are looking for. Most buyers are looking for complete websites such as blog, forum, or community sites with revenue and traffic. The higher the traffic and revenue the higher the value. It seems like a simple plan but who in the right mind would sell off a profitable site for capital gain? Webmaster who have too many websites and unable to manage, owners who wants out, developer who developed sites for the purpose of capital gains. Not only it is rarely to find a good site but to out bid your competitors is tough. The next available option will be to buy turnkey websites which are sites that are newly developed. This site normally comes cheap generally below $50, have no revenue and no traffic. With a little effort in marketing and promotion, you can get this site profitable and sell them using the rule of 12/24 months revenue. If you make $50 with that site you can sell it for $600 or more. If you are familiar with programming, you can look out for uncompleted sites, finish it up and put it in the market for a quick but small profit.
Whatever you approach is, there are several things to note when buying a websites. Ask for verification of earnings and traffic, don’t just take the sellers word. Take a look at the site, make sure there are activities. Check the domain registry, what the cost involved in transferring a domain and what is the time frame. Sometimes transferring domain between different providers takes longer, while some providers are not supported. Newly register or changed domain can only be transfer after 60 days. The type hosting required needs to be clarified, some sites may have specific requirements that requires a special type of host. Always make it a point to have the seller ready to assist you in the upload if any things goes wrong.
While flipping websites may not make you millions but its a additional stream of revenue, but it adds to your arsenal of money making tools.
