Secrets Of Website Flipping
Have you ever heard the term “Flip That House”. The concept behind this is as simple as this: someone buys a house that needs renovations, they work on it, and then it is sold for a profit. The same concept highlights the potential over the web as “flip that house” basically mirrors what we can do with web sites. The good thing about website flipping is that you can buy a web site, perform much the same exercise with it, but without getting your hands dirty or risking as much of your capital resources as you would with buying a house or real estate.
On today’s Web, with all the resources being offered (some of which are free), it is possible to invest on “virtual real estate”, well under a few hundred dollars, while still offering a good return on investment. The potential of making a good profit flipping websites has no boundaries and most of time, it is more of the effort you put in, rather than anything else. This is one of the reasons that many people are getting into this speculative market of web site flipping, where a virtual real estate or online property is bought for the sole purpose of improvement and quick sale. Is there money to be made and can it be done relatively easy? Yes and No. Yes, it can be done and no, just like anything else is not as easy as one would think. Here, I will share with you some basic steps to get you started and hopefully, this same basics, will be good enough for you to venture on website flipping. The rest will take care on its own (experience).
Just remember that, the general idea is once you buy or create a website, your goal is to add value to the site you’ve bought or created. You then sell the virtual property for a quick capital gain. Don’t be greedy and most importantly, don’t fall-in-love with the website. You are in this for the business and not to accumulate virtual properties where at a later stage you are bound to neglect some of them. This is website flipping and not blogging for money.
To summarize, there are four steps to this process:
- Locate a site you want to purchase (create from scratch if you want, but will take longer).
- Negotiate and complete the purchase.
- Add value to the site.
- Find a buyer and sell for a profit.
Now, I can only tell you as much on how to add value to your web site. Obviously the value you add will depend on the site, your skills and capabilities, the market, and so on. The following articles, while appears to be outdated, are not only valid but relevant to the subject matter. This has been updated and if website flipping is a matter of interest to you, this is where you should start.
Good luck and to your success!
image credit: iStockPhoto