I’m sure that most of us by now have heard of flipping things as a means to make money. If not, a prime example of this is flipping houses or properties.
What Is Flipping?
Flipping is a relatively easy process. I will use house flipping as an example. Flipping a house is essentially done in a few steps. First you find a house that is practically worth nothing that you see potential in. Next you purchase the house. After buying the house you make necessary changes in it to increase the property value. Afterwards you then sell the house for more than what you paid for it and how much it cost to repair. For example let’s say the house cost you $100,000. You spend $20,000 to fix it up and increase the value of it to $150,000. You then make a $30,000 profit.
How Does This Apply To Websites
The process for doing this with websites is almost exactly the same, but just applied to a virtual property. First you either find an existing website or create your own. You then create content until the website is worth more than what you paid for it. This can be just adding blog posts, all the way up to promoting and selling products. You then find a buyer for the website and sell it. It’s literally that simple.
Where Do I Find Buyers?
Finding buyers for your website is somewhat of the challenge. You can advertise that the website is for sale on the actual site itself and wait for a buyer to contact you. Or you can go through a third party service to sell the domain. There a lot of third party services that broker domain sales, I personally recommend Flippa.
Flippa is one of the best website flipping brokers around. They only charge $9.00 to list and a 5% commission.
Is Website Flipping For You?
This is something you must ask yourself. Some people simply can’t part with something that they’ve dedicated so much time to. Others may want a lump sum of money right now instead of over the course of months. If you think you’re ready then head over to Flippa and give them a try.