For the uninitiated, flipping websites is akin to buying a car at a lower price, having some work done on it, and then reselling it at a higher cost. Flipping websites simply means buying an existing website, improving it by redesigning, tweaking, and then selling it at a higher cost.
Flipping websites is a more challenging way to make money on the Internet, as it will require you to do some work such as finding a website that has a good selling potential, tweaking it, and putting it out there for a profit.
However this money-making venture is a good avenue to enhance your skills and knowledge, sharpening your abilities and making you better as you go along. It is also a great source of income, even described by others as one of “the most lucrative businesses on the internet today” that requires very little investment and sometimes even none at all.
There are two ways to make money flipping websites. First, and the more popular way, is to buy an existing site that is performing below its potential, improving it and then reselling it. This method requires a bit of an investment, but it is something you can earn back with interest.
Choose a website that enjoys a reasonable volume of traffic and whose content can attract more visitors. Then you need to spruce it up to give it an attractive and professional look, adding features to improve its functionality and considerably increasing its value.
To have a better chance of selling it, you need to monetize the website. Serious buyers are only willing to pay top dollar if the website is monetized as they can easily promote and earn from it without elaborate work and effort.
You have to be able to show that the website is already making money through its traffic and sales, and that its ranking on search engines has improved. With all these, you’ll have a higher chance of selling it for a handsome profit, around five to fifteen times its monthly revenue.
Before we go to the other method of making a profit by flipping websites, let us discuss important tips about choosing a website. Check that the articles are original so you don’t have to replace content, which would mean additional work for you. There are online programs that can help you with this, such as Copyscape.
It is best to select websites that have garnered a good number of quality back links (essentially the same as an incoming link) – a link from someone else’s site that leads to the one you intend to flip. Back links determine the ranking of the website in search engine optimization, and shows how well-known the site is on the internet. A website with a dozen quality back links is still preferable than one with hundreds of mediocre back links.
Check that it is not a banned website by using iwebtools.com. Beware also of scammers when visiting auction sites looking for a site to purchase. Don’t get tricked by statistics that sound too good to be true. Don’t let yourself be fooled, make sure you check out the accuracy of the given statistics about the website.
The other way to make money flipping websites is to create your own website and then sell it. This method saves you from making an initial purchase investment. Start with an impressive domain name that will catch the attention of visitors. A good domain name is short but catchy, and reflects your website’s content. This helps to increase the value of your flip website.
The first thing visitors to your site will notice is its overall look, meaning if it was not designed well and does not look appealing, it will fail to get customers, and no traffic means no sales. If your site’s overall appearance is appealing enough to attract traffic, the next thing that will catch their attention is your content.
Place quality content in your website, building around your domain name and providing value to your visitors. Continue building it to the point that it generates a lot of attention from people who are interested in your content. You should do your research and choose a dynamic niche that is of interest to a lot of people. A website with quality content will attract more high paying buyers than one with poor content.
Next, monetize your site to a level where it becomes attractive to potential buyers, using affiliate links or paid advertising, or programs such as Google AdSense.
After a few months of deriving income from your site, you can start thinking about selling it at a reasonable price. Depending on the traffic your site is getting and the profit you receive from it, you can either sell it for a few hundred or a few thousand dollars. A website that makes $100 a month can often be sold somewhere between $6000 to $10,000.
Go to auction sites to find a buyer who is convinced of the money-making potential of your website and is willing to pay you a price you are happy with. Once you have sold your first website, you can do everything all over again, as there is no limit to how many websites you can develop and flip at any given time.
Are you making money flipping websites? Be sure to share your comments, thoughts, ideas below…