Website flipping is very similar to flipping a house. It can be fun, easy, and very profitable. Of course at the same time, it can also be terribly boring, hard, and can lead to lots of lost money.
On this page I’ll go over the key things to keep in mind before flipping a website. You’ll learn the basics so that you’ll be less likely to experience the second scenario and more likely to experience the first.
The first step to website flipping is becoming good at spotting a winning website. This skill involves more than the simple task of domain flipping. In order to do this you’ll need to learn keyword research and market research so that you can quickly and easily determine the potential income of a website.
This step is critical because most people trying to sell you their minimally profitable websites will tell you about how high the potential is even if it is not. The reason for this may be malice, but most likely it is that they don’t know how to do good research themselves.
They’ve probably been working hard on their website for quite some time without much success, and think to themselves if only I could spend a little more time on the site it would make more money.
These people are kidding themselves, don’t let them kid you.
Once you’ve learned how to determine the income potential of a given niche or keyword set, you’ll need to determine where to actually find sites for sale.
There are many site auction houses and you can even find sites on Ebay. However, I would stay away from most of these places and either use a site called Flippa or I would actually email potential site buys yourself to ask them if they would consider selling.
Next, you’ll need to consider the terms of the sale. When you’re buying a small site for a hundred dollars, you can risk getting scammed. However, when you are buying a site for thousands of dollars, you’ll want to make sure that you don’t lose your money for nothing.
Sites like Escrow.com can help make the site a bit safer and you can also go ahead and sign a contract with your seller as well. It may be in your best interest to put a non-compete clause in your contract as well.
Website Flipping – The Sale
Once you’ve bought your site and improved its revenue, you’ll naturally want to sell it so that you can take advantage of the added worth of the site. After all, this is what website flipping is all about.
In order to do this, you’ll need to figure out how to successfully sell a site. You can sell your site on Flippa, but remember that when you buy and sell a site on the site, it keeps a record of this. This means you’ll have potential buyers wondering why you are selling a site that you just bought.
Many people are turned off by this because they feel that the person website flipping has already taken out all the appreciation that the site might accrue in the future.
In order to calm people’s fears, you’ll want to write a great advertisement for the sale of your site.
When you decide to start website flipping, you may want to get some help before you start. One of the best things you can do is to buy a good book on website flipping so that you can avoid the pitfalls and reap the benefits of flipping a website as quickly as possible.
Kate Anderson’s flip mastery program provides a great blueprint for success in flipping websites. She’ll also teach you how to make money with a website that is already established as well as some other critical online skills.
