What is website flipping, you ask, well – first and foremost it is a business. It’s imperative you have that mindset if you want to achieve any level of success flipping websites. Whether you do this part-time or full-time you need to approach it as a business if you want to make real money doing it.
The best part is it’s a fun business with unlimited income potential. Some of the professional site flippers are making six-figure incomes! Your earning potential is limited only by the time and effort you put into it. You may only be able to flip websites on a part-time basis but even then it’s possible to make enough money to pay for that monthly car payment or mortgage.
What Is Website Flipping?
If you are familiar with real estate investing, you know that flipping properties is the process of buying distressed properties, fixing them, and then reselling them for profit. When you flip websites, the process is exactly the same except you’re dealing with virtual real estate – websites and the domain the website is built on. A distressed property is simply a property that has the potential to be worth more by adding value to it.
This is where the business really gets fun – the fixing up part;) The value you add to websites can be all sorts of things. You may increase revenues by creating additional sources of revenue or improving conversions. You may add value by increasing traffic – be it paid or organic. You might build a mailing list or do a total redesign. If you’re real ambitious it might be all of the above and many other possibilities! The point is, you’re making the site more valuable so that you can eventually sell it for more than what you paid for it.
It’s important to note that flipping websites isn’t always about buying existing sites. In many cases it isn’t. Website flipping can also be the process of building sites from scratch and increasing their value over time so that you can sell them for profit. This is what I do primarily. I build and hold and I only sell after a website has generated consistent revenue for a period of time.
What Are The Benefits of Flipping Websites?
Low Barriers to Entry. I finally get to put my worthless Marketing degree I got at Augsburg College to use by talking barriers of entry;) Fun. Fun. I don’t mean to get all technical on you so let’s cut to the chase. Low barriers to entry simply means it’s a relative easy business to get into. The money required to get started is minimal (around $100 if you build from scratch and do everything yourself) and you can literally have a site up and running within a few hours!
Current & Long-Term Income Streams. Unlike real estate flipping and other buy and hold investing opportunities (i.e stock market) where you usually only make your money when you sell, flipping websites it totally different. When you flip websites you can make money month after month while you own the site (and this alone can be in the thousands) and you can make a killing when you sell the site! This is the primary benefit that got me into site flipping because it complimented my primary business perfectly, which was affiliate marketing. I could enjoy the monthly income plus make a lot of money when it was time to sell.
O.K. – I Know What Is Website Flipping But Isn’t It Just A Fad?
Absolutely not! This business is stronger than it has ever been and continues to get stronger everyday for a few different reasons. First, everyone seems to hurting right now given the current state of the economy yet many online businesses continue to do well. Just about any business model that involves making money online is going strong. No matter how difficult times get, people will always be using the Internet for information and will look to save money by buying products and services online.
Second, as it becomes increasingly difficult to make a living buying and selling domains, website flipping is the next best way to buy and sell virtual properties for profit. Back in the day you could make a great living flipping domains. You still can today but it takes a lot more work and a lot more money. You can flip websites with a lot less money and as I already mentioned, you can enjoy current and long-term income streams.
Finally, everyone from individuals to businesses are looking to get online! If you know how to build valuable websites and you know how to sell them, you’re going to be successful because the demand is only getting greater and greater everyday.
I hope I’ve answered the question, What Is Website Flipping, and that it interests you! Browse around this website to learn how to do it the right way so you can make good money doing it!