Website flipping for fun and profit (hopefully)
There are many ways to make money offline and one of the most rewarding is property flipping. Great profits can be made from buying a house, doing it up and selling it on. However, this is also easy to do online. Find a site, do it up and sell it on. I’ve been looking into website flipping for some time now, and want to give it a go.
The first problem that I’ve encountered is finding a website. I’ve been browsing the forums over at digitalpoint.com and at namepros.com for over a week, and I’ve yet to find a site which interests me. I browse the forums at sitepoint.com every so often, but usually the websites listed there are a little too expensive for me.
A good tip when you’re looking to flip websites is to know what you’re good at. Take some time to think about how you can add value to a site. For example, if you’re good at designing, go and buy a site which is in need of a good design. Make sure it’s got good content and a good back-end. Then all you have to do is make a good design and sell.
Flipping is all about adding value, and the best way you can add value to something for very little money is by carrying out the work yourself.
As I’ve often said, I’m not really brilliant at anything. I’m good at lots of stuff, but I’m not an absolute genius at anything. So what am I going to do? I suppose I’m good at writing content and perhaps, some basic design. So, when I go hunting for a website, I’m looking for one which is a little run down, and perhaps in need of some new content.
When flipping you need to play to your strengths, not the websites strengths. Improving something which doesn’t need to be improved is going to waste your time and money.
Flipping websites can be a really fun thing to do, but one that requires you to be careful in choosing what you buy. If you want to be successful, it’s important that you play to your strengths, so take a moment, to figure out how you can add value to that site, before you actually buy it.
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3 Responses to “Website flipping for fun and profit (hopefully)”
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Vincent
April 21st, 2008
[...] Based on my previous post, I should now be looking for a site with a good design, but bad content. However content is usually the main part of a website, and so you’ll rarely find a site without good content. [...]
Website flipping – part 1 | aaronfalloon.com
April 26th, 2008
Sometimes, the bargain sites won’t be at sites like digitalpoint or sitepoint. Sometimes, the owners of your ideal sites don’t plan on selling, but when you approach them, they might just sell the site to you.
My point is, when people don’t plan to sell, the price is usually lower. And if you can see the value in that site, then move in!