I am going to tell you how to make money online using one of the easiest methods out there.
You will learn that there is a powerful angle in this method that most people miss. Using it, you can maximise your returns more easily.
The truth is you can still make great money from flipping websites. Flipping is buying a site, enhancing it and then selling it on for a profit. The aim, like share dealing, is to buy low and sell high.
Before you go rushing off to start googling for information on flipping websites, lets get some reality into this piece. I am sorry to be the one to tell you that just like everything else in life, it does require effort.
Flipped (Photo credit: Wikipedia)
The Simple Skill That Can Produce Big Flipping Benefits.
It’s a fact that in many areas of online business you need to be a great all rounder. The beauty of website flipping is that you can get on with it without a ton of skills under your belt. You don’t need to be a coder or a writer; it’s all been done for you by the seller.
The one thing you need to have is the ability to be patient and watch. To spot and track opportunities and follow them through so you learn about selling patterns.
There will be a ton of trash out there. You will need your B.S. deflector shields turned on full so you can be sure to check and verify everything. It will be boring for a while and you won’t actually buy a thing because you are still learning to filter.
I know, it’s not sounding too great so far! However, with patience and time, something marvellous will happen. You will start to spot some amazing opportunities.
You will learn to spot when someone is undervaluing their work, or to spot the site with no income that could be quickly refocused. You will gain the ability to see some of the sites for sale like scrap cars, that are great for ripping pieces out of to use in your other websites.
Learn To Limbo Without Breaking Your Flipping Back.
One of the most attractive things about cutting your teeth flipping websites is the low cost entry point.
Although you may only break even initially, there are tons of websites up for sale at around the $30-$50 mark which will allow you to experiment. If you prepare carefully and do your due diligence, at the very least you will come away with a site stuffed full of content, with an untarnished and aged domain.
But at this entry level what can you really gain?
A cantilever system allowed a car to flip in the Police Academy Stunt Show at Warner Bros. Movie World. The car is in the process of flipping just moments after an explosion. (Photo credit: Wikipedia)
Well some key things to look out for include:
- The domain. Is it a great fit and a great name? Could it be sold on its own if you can’t flip the site?
- The software. Is there a gem hidden in there? Like a wordpress plugin worth $100 that they have bundled in?
- Traffic. Traffic that doesn’t convert is worthless….in it’s current context. Can you spot an opportunity to change the context of the site to attract the same traffic and pitch to them?
How To Be A Clever Flipping Negotiator.
Earlier I mentioned an often missed angle that people who flip websites do not capitalise on enough.
In the real estate industry there are people who buy a house below market value and then sell it on quickly for a profit. They do this by learning to find what are politely known as “motivated sellers”.
In reality they are “distressed sellers”.
A distressed seller is someone who needs the money fast. In website flipping terms, this is someone who is looking to shift a website as quickly as possible because they cannot afford to run it, or need the cash to pay for something else.
This is where you can profit.
Nobody is going to say they are selling a website because they need the money fast. That would be insane. So you have to learn to find out. There are two main methods you can employ to do this.
First, through spending time tracking listings, learn to spot the difference between the “cookie cutter” site sellers, who churn out sites purely for money and the people selling sites with soul. Focusing on the second group, you can start to spot clues in the listings as to their real motivation for selling.
Second, use the tactic of contacting them and asking friendly general questions about their site. Through building rapport and digging deeper, using a subtle leading question technique, you may get that gem you were looking for – a reason for the sale of their website that is linked to needing the cash.
Once you know they may be a desperate seller, you are in pole position, especially if the site does not sell first time.
This is a soft skill rather than a technical skill and it will take time to become an expert in extracting the signals you need. The point is that you are will be approaching things from a different angle than most people involved in website flipping, an angle that can give you a decisive edge.
The Reason Some People Almost Always Flipping Succeed.
After reading this you will of course rush off to read everything you can about site flipping.
As with everything else online, you will learn that it is not profitable any more. They will tell you it’s almost impossible to make money doing it any more, just like flipping real estate.
But people still flip real estate and make millions. People also still buy and sell thousands of websites every day. That’s why the website marketplaces are stuffed full of buyers and sellers.
As with anything online, the idiots tell you that you can’t make money because they failed to, while the people making the money tell you the method is dead. The truth is that people can and do make money buying and selling websites and so can you.