One of the hottest internet topics today is "flipping websites." You hear about people buying domain names, and then turning around and selling them for a profit. At first look, it appears to be an extremely complicated process and something you'd need real connections within the marketing world to get into, but it's really not. Just look at a website (or a domain name) as being a property in the real estate market. Some of them are jewels that are just waiting to be renovated, and then sold for a large profit.
There are 2 ways to do a "flip". You can do a "short-term flip", or you can do a "long-term flip". Short-term flips are generally tougher to turn large profits on, but every once in a while one can make a hefty margin when advertising the domain name to the right potential buyers. All my experiences in "flipping sites" have come by doing long-term flips. Moreover, I like to find "jewels" out there in the marketplace, and then build out high quality content on them. Then after sitting on them for a while, I sell them for a hefty profit. My biggest success in doing so resulted in a profit of $171,200. I purchased a website for $1,800, and later sold that same website for $173,000. That wasn't a fluke either, within that same year I purchased a domain name for $200, and flipped it within 6 months for $60,000. The trick is to find a domain that's a true gem and that's primed to rank well in the major search engines. Then building out the website to the point that it's becoming a nice revenue stream, and selling it off at SitePoint or another website marketplace.
Of the entire process, the only somewhat challenging part is building out a website that quickly becomes a decent revenue stream. However, if you have the right tools, and know how to use them it is really quite simple. The average person is 100% capable of doing it, whether the believe it or not. If your dream is to work for yourself, flipping websites might just be in your future.
| Dave Hermansen, and his brother Mike, were recently interviewed by The New York Times regarding their success flipping websites. Dave and Mike Hermansen are writing a soon-to-be-released book called "Flipping Websites". The book is intended to teach anyone how to make a living flipping websites for themselves. You can read more about their upcoming book at http://www.hermansenbrothers.com. |
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