MAKE MONEY FLIPPING WEBSITES: HOW I MADE $80,000 IN 2016!
I’ll teach you how to make money flipping websites. Don’t tear your eyes away, I’ll be revealing some golden stuff here to have you making five figure and six figure income in no time!
WHAT IS WEBSITE FLIPPING
Have you heard of flipping? Real estate flipping, for example?
Flipping property, whether it be website property or real estate property, involves buying property at a low price, adding value to it and then selling it for a profit.
With a house, you might buy a foreclosure. Upgrade the kitchen, bathrooms, add new carpeting, fix any mechanical issues, stage it with furniture and then sell it for a price that covers the initial investment + upgrades/repairs.
It’s the same principle with a website.
Follow these steps outlined in this guide if you’d like to dive into the world of website flipping!
You might enjoy: Starting a Profitable Online Store
INVEST IN A WEBSITE
Investing in a site is the first step of the flipping process. This means you would either build the site from the ground up or purchase an existing site to improve.
If you go the website build route, we recommend Shopify.
For low upfront investment (14-day free trial + plans starting at $29/mo), you can have a site built in no time, literally less than an hour.
Check out our article, How to Open a Shopify Store in 1 hour or less!
If you decide to purchase an existing site check out website buying marketplaces like Flippa.
There you can see a variety of sites up for sale, along with stats like visitor traffic, earnings, etc. Once you’ve invested in an initial site, the next thing you want to do is add value.
Adding value to an existing site can mean a lot of different things. You could give it a design makeover by installing an eye-catching theme, update the layout/navigation, add content, rewrite product descriptions, etc.
Whatever the site is lacking, improve upon it in that area.
Social media engagement is a good place to start as well.
Is the site on social media?
Do they have a Facebook or Twitter account?
Do they encourage conversation, respond to comments, or other engaging activities with consumers?
Ask yourself these questions and more when reviewing the social media history.
Check out how Brittany grew her Facebook account from 2000 to 100,000 likes in 5 months here.
Look at the big picture here. Where do sales come from? Affiliate offers, product sales, promotions, sponsored posts? The tactic you use for improving sales will be dependent on the type of site you are building or acquire.
For a blog, focus on higher paying affiliate offers or look at increasing sponsored posts with brands.
For an eCommerce store, perhaps an investment in ads is the key to sales improvement or ramping up social media.
In some cases, improving site usability and design can be enough to boost value enough to flip the website for profit but the ability to increase income will ALWAYS be a key player to successfully flipping your website property.
SELLING THE SITE
Ok, so you’ve built or purchased a site, added value and improved sales. What’s next? The most exciting part: flipping the site for a profit!
I recommend going to a website broker. Professional brokers, although the more expensive option, can help expose your site to a broader, much larger audience than if you self-promoted the sale yourself.
Brokers will charge a fee, typically a percentage of the website sale at closing. Some brokers may charge a listing fee.
Once you are listed for sale, expect to wait at least a few months for the sale to happen, although it can happen faster or at a slower pace.
HOW I MADE $80,000 IN 2016 FLIPPING MY SITE
Here’s my story:
I left my industry of 10 years to pursue my dream of being an entrepreneur.
One year into the business (while juggling full-time work and running a business on the side), I was earning enough to leave my day job. Yay!
Quadruple your traffic!
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