Web Flipping "Undressed"
Web flipping is a growth industry, a new way to make money online and some say “will overtake blogging and affiliate marketing for the #1 online money-printing method” – therefore, RIPE for scams. Before we look into the dangers of website flipping, let’s look at what flipping actually is.
Flipping comes from the real estate industry, where someone will buy a wreck (I mean lower-value property), sink some money into renovating and sell it at a profit. Of course, you have fun coming up with creative renovation ideas and all – and you get to see the difference in an end product. If that kind of ‘doing-up’ business appeals to you but within an online context – then read on.
Business #101 – Revenue minus Expenses equals Profit
What I’m not going to do is tell you it’s easy. It’s not – there will be work involved. With web flipping, your expenses are the purchase costs, using your tools for ‘doing it up’ and of course your time (would you be better off with a secure 9-till-5 job?). The effort you put in translates into the added value which in turn creates the difference between your total expenses and end sales cost – the bigger this is, the larger your potential profit margin.“So is flipping websites a get rich quick scheme?”
Doing up a few sites per year certainly isn’t get rich quick (unless you’re buying and selling Amazon, in which case can I have your number?). Sure, you can get rich if you can add lots of value to lots of websites in a short space of time; but the likelihood is you’ll need lots of help so either you can use freelancers from places like elance.com and guru.com (save you buying a few e-Books to find those resources) or hire full time staff.
Getting help to turn websites around faster will obviously add to your costs, risk and momentum – but if you’d prefer to do it like that. Personally, I prefer the lower risk, lower pressure option where you can build when you like; perhaps outsourcing now and then but without the drive for turning websites around really quick. That leaves me enough time to concentrate on my studies.
Website flipping is potentially very lucrative, but taking down the dressing that some internet marketers are showering the concept with (and selling ridiculously overpriced e-Courses for) it’s really just an online renovation business – you need to add value!
Of course, there's nothing wrong with buying a website and doing it up for your own income - but take it back to it's roots; a property developer doesn't live in all his completed renovations... perhaps some, but not all
Learn more about how to
make huge profits flipping websites.
Another form of web flipping is with domain names. Domain flipping is big business; some domains being sold for thousands and thousands of dollars. It's an intricate business where you can register a domain for only a few dollars and see it sold for much more.
However, with most of the useful "in-demand" .com's gone, the industry is shifting towards different domain types (.mobi, .co.cc etc.) and buying-to-sell. Learn more about
Return from Web Flipping to How to Build A Website