One of the hottest internet topics today is “flipping websites. " You hear about people buying domain names, and then turning around and selling them for a profit. At first look, it appears to be an extremely complicated process and something you'd need real connections within the marketing world to get into, but it's really not. Just look at a website (or a domain name) as being a property in the real estate market. Some of them are jewels that are just waiting to be renovated, and then sold for a large profit.
There are 2 ways to do a “flip". You can do a “short-term flip", or you can do a “long-term flip". Short-term flips are generally tougher to turn large profits on, but every once in a while one can make a hefty margin when advertising the domain name to the right potential buyers. All my experiences in “flipping sites" have come by doing long-term flips. Moreover, I like to find “jewels" out there in the marketplace, and then build out high quality content on them. Then after sitting on them for a while, I sell them for a hefty profit. My biggest success in doing so resulted in a profit of $171,200. I purchased a website for $1,800, and later sold that same website for $173,000. That wasn't a fluke either, within that same year I purchased a domain name for $200, and flipped it within 6 months for $60,000. The trick is to find a domain that's a true gem and that's primed to rank well in the major search engines. Then building out the website to the point that it's becoming a nice revenue stream, and selling it off at SitePoint or another website marketplace.
Of the entire process, the only somewhat challenging part is building out a website that quickly becomes a decent revenue stream. However, if you have the right tools, and know how to use them it is really quite simple. The average person is 100% capable of doing it, whether you believe it or not. If your dream is to work for yourself, flipping websites might just be in your future.
Dave Hermansen was recently interviewed by The New York Times regarding their success flipping websites. Dave is making a video series called “Make A Living Flipping Websites". This video series is intended to teach anyone how to make a living flipping websites for themselves. You can read more about this upcoming video series at http://www.hermansenbrothers.com .