Site flipping can help you set up a great online business if you go about it the correct way. These the following three techniques to really help you succeed.
Since site flipping is all about buying and selling sites, it’s important to know where to buy and where to sell. Most people who are successful with site flipping buy their sites in places where the people who are selling the sites don’t know any better and offer them for dirt cheap. One such marketplace is the “Digital Point Forums”. You can often find terrific, professionally designed websites being sold for practically nothing because the sellers don’t know any better. You cannot go wrong with Flippa.com if you want to sell your site. This is where you’ll find the high rollers who are ready to invest lots of money for just the right website. If you want to get some kind of idea how these two marketplaces work, make sure you research them thoroughly. A smart flipping strategy could be – buying sites from Digital Point, work on improving them in terms of traffic and revenue and then flip them on Flippa in a few months. This is a business model that can’t fail if you do it right.
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You will also want to make sure your BIN or your ‘buy it now’ price is always as reasonable as possible. The reason you’ll want to set a BIN price is because people sometimes don’t like to bid on sites and they just want to buy it. The BIN price is so that individuals who are interested in your websites can buy your site at a price that is accurate and fair. But most of the time, the problem happens because many of the sellers don’t have realistic expectations about the value of their sites, which is why they end up setting a very high BIN price. You will immediately turn off potential buyers because they’ll see you as the amateur that you are. So before you set your BIN price, talk to some of your friends and ask them what they think about your website and how much they think the worth is. Once you have a fair assessment as to your site’s worth, set your BIN price according to that price. It will take time and patience before you become skilled at site flipping, but if you go a little at a time you will eventually succeed.
Last but not the least; set your goals even before you start so that you know where you’re going. To put it another way, always have in mind what type of sites you want to buy and sell, the types of profits you want to make, as well as if you want long or short term site flips. So the more clear you are in these areas, the better will be your results.
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In conclusion, website flipping must be looked at as any other type of business in that it’s going to take lots of time and hard work for it to finally pay off. It will take some time before you actually start getting big in this business, but once you get a hang of it, it becomes addictive, and highly profitable.
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