10 Tips To Make Money Flipping Websites
[toc]Investing in flipping websites just like investing in other businesses like mortar and brick business and real estate business, has great benefits. All these businesses have their own risks and profits.
Successful website brokers are able to book over a million flipping websites. They really do know how to make money flipping websites. You can avoid and minimize a number of risks by making your sales and purchase correctly. By doing this you can also get a handsome amount of money in a short period of time. I am going to explain 10 beneficial steps on the basis of which you can sale and purchase different websites for a good profit.
The business of selling and purchasing of online websites (known as Flipping websites) is just like the business of sales and purchase of houses. Real State business man purchase properties at their undervalued amount, renovate them and sale them with maximum profit after a specific period of time. Website flippers buy a site that’s undervalued, improve it by generating more revenue and increasing traffic ad it’s overall value and the sell it. The main difference between these two businesses is that, in the business of flipping websites, you can add a monthly income in addition to the selling of website.
I personally where able to invest on this blog (MoneyDiver) thanks to money I made y Flipping Websites. And i owe it all to the courses i bought through my learning curve. I’ve said it before and i say it again. Buying courses is the fastest way to learn. Every so called guru you see out there began this way, you will often find a lot of crappy products, but there is ALWAYS something to learn. Don’t see it as a get rich quick formula, but as a learning experience that will take you upon the system that best works for you to make money online.
10 steps have been explained below. Read and enjoy them, then take action!!
“Flipping websites is the newest cool way to make money on the internet” – Jeremy Schoemaker
Research Websites With Growth Potential
Find out the best and evergreen niches of websites. Evergreen websites and niches are those which don’t have any especific expiration date and respond to constant human demand. Like health and beauty, clothing, sports, electronics, business and car insurance websites can be included among these.
Some people purchase establish sites rather than buying a new website because of many reasons. An experienced buyer will view the performance of the website and measure it before buying it. You should view the most popular keyword in search engines for the website. Take a look at it’s rankings, the ranking of the website can also be measured by the popularity of its keywords, see how much you could improve it’s rankings and what type of changes would improve it’s SEO.
Like a house flipper buys a house and replace its painting and carpets and kitchen utensils. In the same way, you will buy the website and then improve it before selling. Find how how it makes money, how would you change it’s revenue sources (affiliate programs, adsense, selling services, etc.)
See if the site has social media profiles (Facebook, Youtube, Pinterest etc.) Ask the seller if they are included. Determine if spending money on PPC is worth it to improve it’s value. Consider creating a list and including it on the sale.
Be Aware of Your Limits when Flipping Websites
Time and money. These are the two basic resources you have to look after. Money comes and goes, but you only have one life time. Time is your most precious asset. Outsourcing is one of the smartest moves you can make.
You must be honest with yourself. You should decide about how much money you can afford to lose? or how much time can you invest. You should seriously think about that. If you are planning to invest $9,000 then you should think that either you will live without such money or not? In this business the investments are not guaranteed either it is the investment of time or the investment of money. Firstly, by concentrating you have to decide the amount of money you can invest. When you decide the monetary investment then it is the best time to decide the time required in order to start a new business. You should spend some time in your new business in order to acquire some knowledge and skills about it.
Best Places to Purchase Websites
Sometimes, you will find the low quality websites for sale. It is not the fact, you can also find some high quality websites, but at higher rates. You should always remember that you always get the quality of the thing for which you pay. You can never purchase a site worth $5000 that is earning the revenue of $15,000 per month, approximately 3 times than its cost. One thing is best you can buy the website with low cost that is in the initial stages but have a probability to make a profit in the long term. If you make a purchase of a website worth $50,000 or less that makes a revenue of $12,000 to $16,000 per month is best or you can say that reasonable. However the price of each website is different and is based upon the revenue it earns monthly or annually. Some popular places from where you can purchase the websites are
- All the websites market places like Flippa
- Website brokers (a dealer who deals with the sales and purchase of websites)
- From different buyers
- Forum market places
How to make a quick purchase decision?
In order to get the guide and help regarding the purchase of the website, you should follow some simple questions given below. These questions will make your decision making skills stronger and you can focus on buying relevant websites only.
Check for Traffic Stats
You should go for the screenshots of the website that show the URL and revenue of the website, often posted on a side of the auctions. This way you can compare what he claims with the stats.
Is it possible to trust the seller?
You can see if you can trust the seller by checking his feedback history. Another good idea is to Google him, check if there’s any information about him online, it should be found at least in the first two pages. Also, if possible, try to contact the owners of websites he has previously sold. Ask them how the website is doing.
Why is the websites being sold?
Sites that are dying or have decreasing earnings are usually, as well are websites in niches that are being extinct are big “No Nos”. These products may include service websites, movie download website, unlocking software download, google applications download or any other such. You can purchase these websites at low prices in order to increase your skills, experience and resources as well. But don’t trust high earnings on these type of sites without doing your research
How Properly Study the Website
If the site you’re looking at passes the first test, you go for the second one and the most deeper one. You can have a deep look by getting the specific details from the seller. All these specific details include
- Evidence of the revenue of the website
If you want to examine the evidence of the revenue of the website, you should contact to the seller and ask for the proof. He should provide you a video containing these information .
- Try chatting with the seller and gain his trust?
You can gain the trust of the seller by speaking with him on Skype or on the phone, if possible. It will make your negotiations very clear and most effective.
- Get help from the professionals
If you don’t know the way to proceed about the buying process or you are not sure about the process then you must consult to some expert or third party in order to seek help. Contacting a brokers is usually a great idea.
- Records of traffic
When purchasing, you should check if there were any time periods in which the flow of traffic was down. Find out the sources of traffic, is there a single source or multiple sources of traffic? Will you keep the reference link from referring websites? Are they using PPC? Some scammers tend to buy “alexa traffic” which are robots which appear as real clicks on the analytics, take a look at the bounce rates, if its higher than 99% then stay away from this buy.
Creating a right offer price
If you find that this is an appropriate website according to your needs then it is time for making an attractive offer. The key behind success is that the offer must start from a lowest level and bring it to high enough to catch the focus of seller. For example, if they are demanding $10k with the profit ratio “18x monthly profit multiple”, and you proposed only $2 then most likely, you will get an annoyed rejection. A good offer starts from the 70% to onward of the asking price. The most popular platform for buying and selling websites is Flippa, when you bid on any auction there, you place a high bid (the highest amount of money you are willing to spend on this site) But the Flippa system will bid on 5$ increments whenever someone else outbids you until the bidding reaches your high bid.
If you want to bid low point out the negative aspects of the website to bring some sense on to the seller and the other bidders to lower the price. By highlighting those points, provides them some logical reasons about why hey should aim lower. Try to win the seller’s trust by showing him your financial status and web management skills. Telling him that you are a reliable person and that you will handle the website properly are technique to force him to pick you, even if your proposal amount is lower.
What to do after you win the website?
Now start working on your site of course The more effort you put onto the site results into increased monthly profit and valuable worth, so you can resell it for a higher price and therefore a profit. Try to increase traffic to the site, evaluate how much money can you spend, do some SEO to the site, create some social profiles if it doesn’t already have some.
If you feel that you don’t have enough energy, resources, or time to do the work by yourself, you can hire someone else, outsource. You can hire a writer and SEO manager but make sure they have good feedback, experience and reference and not demanding a high payment. Make sure that you are not sacrificing the worth and quality of the site because of lowering the standards of who you are hiring to help you.
Another great idea is to automate the website. Hiring an outsourcer or a sales rep, anything you can do to avoid spending a lot of time on the site. This way you will gain the attention of a lot more buyers when you decide to list your site. Very few people are willing to spend huge amounts of time on managing a site. The reason people usually purchase websites is because they are looking for a passive income stream.
Make Money Flipping Websites – Planning to Resell a Website
If your website is highly ranked with increased or steady traffic and solid profit earned; it is time to sell it for more than what you paid to get it. It doesn’t matter if you owned it for a few weeks. Conduct analysis using the following questions to determine whether it is the right time to sell it or not:
- Have you utilized all the techniques to optimize genuine traffic and possible earnings? This is the main point where many sellers decide to let go for further. And buyers finding out the opportunities to expand it by utilizing their expertise.
- How much profit are you going to make if you decide to sell now?
- Make sure the time is right. If you don’t urgently need the profits and if you think that by waiting longer you can increase the amount of money you’ll get the by all sake means, wait! This is selling smart. Determine if you’ve done anything possible to increase the value (earnings and traffic).
If you see your website is about to start losing money due to any alterations on revenue streams or traffic sources (like search engine algorithm changes). Go ahead and sell it. Someone else might have the skills to keep it on float.
This is the most important part. You can sell the website in the same way as you would sell any other services or product online. You can display it on your social networks but you will find more powerful and qualified buyers through marketplaces and brokers Flippa and the Website Market. Wherever you sell, be sure to be patient, don’t go over your head with the price and have proof of everything. Buyers will want a clear transparent look at what they are getting.
Proof of earnings and traffic
Availability to answer questions
Offers bonuses (plugins, marketing guides, free support, free transfer of files, free 1 year hosting if you have a resellers hosting account). A great bonus is to offer a one month 1cent coupon code with hostgator. With this your client can get a “free” hosting account with Hostgator for one full month if the choose the baby plan.
Online brokers are specialized in selling sites for fair price within a reasonable amount of time for a fee. Most of them can provide free advice or valuation service on how you can sell it or run it to increase its value. While using online market places or social media be sure to protect yourself from scammers. Before selling check their past activities, feedback and check them on a Skype or phone then accept the bids.
Repeat, Check , and Analyze What You Did
Once you find a successful system repeat it, take notes on how it was you did it and do it again. Perfect it and improve it.
Be bold, take chances. You can easily purchase a $2000 website, increase it’s profits 10x times and sell it por the same increase. There’s a huge opportunity for making big profits by flipping website.
I hope this article has been helpful to you. Now be helpful to me and take action upon what you’ve learned!
Share you comments below.