Many of you have emailed me wondering where step 3 in flipping websites is…well I can tell you it is coming. We have been busy selling another site. Now that the website has sold we can get back to business.
I will have step 3 for you in the next day or two.
P.S. The site we just sold we bought for $500 and in less than a year sold it for $150k.
All right, you should have your list completed from Step 1. Now that you have decided the areas you want pursue we need to find out if there is any money to be made in those industries. For example if collecting donkey socks made your list, there may not be a market for that online right now.
So in order to make sure that all of your internet marketing efforts don’t go to waste we have created a video that explains some of the things we do to evaluate whether there is demand in a certain niche and if it is worth our time to pursue it.
Check out the video below and leave a comment and let us know what you think.
I don’t watch the news. Partly because I don’t have time but mostly because I don’t like the way it makes me feel. I’m so sick of hearing the doom and gloom of our economy. What I have realized that it is the hip thing to say “Well the economy is down so…” or “we couldn’t do this or that because of the down economy.”
Honestly the more I hear it the more I think people say it because it is the thing to say. Here is a newsflash…the economy is not down in internet marketing. I have created a business model that has proven to work over and over again even in this “down” economy.
I’m not denying that things are bad for many people in many industries, the point I am making is that you don’t have to submit to the idea that it is impossible to make money in this economy. I can tell you with 100% confidence that this year is going to be my best year financially ever…in fact it already is guaranteed to be so.
So how in this “fledgling” economy can I have my best year ever? Like I have mentioned before in previous posts, I have a great system in place that allows me to acquire websites, fix them up, take home the revenue increase and eventually sell the site.
When people ask me what I do I always say “I flip websites”. Then when they realize they didn’t mishear me, they give me an “I don’t get it” look and I explain that it is like flipping real estate only with websites.
I have seen alot of programs out there that supposedly teach you how to flip websites but the tactics they teach are short-term minded and the profit is minimal (in the hundreds of dollars) per transaction. My system takes a more long term approach and has allowed me to do things like buy a website for $500, spend time increasing it’s value and about a year later flip it for $150,000. That’s the kind of increase that I have experienced over and over again.
I have written a course on buying and selling websites that I give away for free. I always worry about giving it away for free because people tend to value things based on how much they paid for it. I really hope that is not the case here.
Do you want to learn how I make money?
If this is something you would be interested in, enter your email below and I will enroll you in the course. You won’t be sorry.
Also, after you sign up I will immediately send you the report I wrote entitled “Striking Internet Oil” where I tell you exactly how I took a website I paid $150 for and in less than 2 years sold it for $250,000.
One other thing – we hate spam as much if not more than you do. Your email is only going to be used to let you know when we have the tools ready.
That is the question we had to ask ourselves today. You see one of the great things about getting websites that are completely automated and have big upside is that they become high demand websites.
Typical website value can be anywhere from 10 months monthly profit to 3 years profit. Most of the stuff we see (and every website we buy) falls into the lower end of the site value spectrum.
So we were surprised to see an offer come in for one of our sites that was 5 years worth of profit. The company wanting to buy our site has spoken to us before but we have always told them that we know the upside of the site and we weren’t ready to sell yet.
We asked them to make us an offer that we couldn’t refuse and that is what they came back with. Seeing that someone else valued a website we run so highly gave us the confidence that what we were doing was on the right track.
You may be surprised to know that even though it was a lot of money we turned the offer down. We are still thinking big picture here and know that we haven’t reached the full potential of the site. We have a game plan and we want to see it through then hopefully we can sell the site for 3 times the offer we got today.
About six months ago we decided we’d build out another site in the same niche where we had (have) our most profitable site. We just figured, “Heck, let’s have two sites doing this instead of just one.”
Instead of going the traditional route of looking for domains/sites for sale, we followed our own advice on buying a website:
Do a Google search for one of your top key phrases. Go through all the websites on page 2 or 3 of the search results. Those should be your top candidates. They have done all of the preliminary work for you but are probably not making much money because they can’t get to page one in their rankings.
We found one that wasn’t ranking well, had some content, and had a bit of domain age, so we low-balled (not low enough to offend) an offer to the website owner, he countered with something much lower than we would have actually paid, and we took it. The site (content and domain) cost us $500. To date it’s one of the cheapest sites we’ve acquired.
So far this month the site is averaging $197 per day. Within two weeks of its purchase we had earned back what we paid for it. This is not just a site that fits the Prosperly Way — it was also truly a gold nugget among the scrap.
This site was actually our first acquisition of consequence, and I think its success tainted us a bit. We’ve purchased several more sites since then and none have yet to match the ROI or daily revenue of this one (granted, some of our later acquisitions are in much more competitive areas, so the time required to get to profits of significance is obviously higher). Is it because we were lucky? Partially I’m sure. I think it has more to do with the work that is required.
For every golden site you acquire, you’re bound to either purchase, or at least evaluate several that are garbage. As you become more experienced, you’ll get better at this, and you probably won’t actually purchase too many junk sites. Hopefully you’ll do your homework and won’t purchase a single one.
But you WILL evaluate a bunch of junk.
Just like I mentioned my Realtor friend that was doing so many house flips — he didn’t evaluate 180 houses to purchase and flip those 180 houses. He evaluated several thousand each year. He was playing the numbers game, and you’ll need to do the same.
Adam has figured out that he adds a lot of value to our portfolio by doing these evaluations, so that’s where he spends a large majority of his time. He’s hardly wringing his hands if we don’t find a candidate every day. Heck, we go weeks without purchasing a site sometimes, but that doesn’t mean he stops evaluating. You’ll need to be like the best real estate investors, who canvas neighborhoods, cold-call, network, etc. and generate enough leads that they can find those gems among the junk.