Buying and selling sites isn’t a new thing, and it’s actually been going on since websites first went online. When you look at the last couple of years, however, you’ll see just how many new online business owners have jumped into the site flipping game to really make it just selling old and new sites for money. In this article we will be looking into 3 powerful site flipping tips that will help you become better at the business.
Since site flipping is all about buying and selling sites, it’s important to know where to buy and where to sell. If you look at the successful site flipping entrepreneurs, you’ll see that they buy their sites from those places where people are selling them for cheap (mainly because they don’t know their real worth). If you check out Digital Point Forums, you’ll see what we’re referring to. This is where you can often find great websites for cheap prices because sellers don’t realize that they’re sitting on something much more valuable. And when it comes to selling, the best place to put your site up for sale is Flippa.com. This is where you will discover buyers that have lots of money to spend and are ready to put their cash into the right site. You can find out a lot about these two sites by doing research, and that will help you out in the long run. The best thing you can do is go to Digital Point Forums, buy a website inexpensively, and then put work into it so that you can sell it on Flippa in a few months for more than you paid for it. You can make a lot of money doing this if you do it right. Make sure your ‘Buy it Now’ or BIN price is reasonable. The reason why there is a BIN price is because buyers that are interested in buying site can buy it without getting into the bidding war. The Buy it Now price also allows people to buy your site at a price they think is fair and that accurately represents how much the site is worth. A common mistake is to set the BIN price too high because you have unrealistic expectations, even when your site isn’t worth near as much. If you do this, you will only turn off those people who may be interested in buying your sites, because it will show that you don’t know what you’re doing. So before you set your buy it now price, get some opinions from friends to see what they say about your site’s worth. Once you figure out how much to list your site, set your ‘Buy it Now’ accordingly. It will take some time before you actually understand the ins and outs of the site flipping business, but again, such small things make a big difference.
Lastly, you’ll want to set some concrete goals so that you always know what you’re trying to do. In other words, you need to make up your mind when it comes to how much income you’re expecting, the types of sites you want to deal with, and whether or not you are looking for shorter or longer term flips. So the more clear you are in these areas, the better will be your results.
All in all, if you use the techniques you just read about, you’ll see how website flipping can be accomplished a little bit at a time into a million dollar venture.