Flipping websites, to a lot of people, is tough work. Not only does it mean that they have to find the right sites to buy, buy them at a reasonable price, and improve them – but they’ve actually got to convince someone else to buy the site at a higher price than was originally paid!
Finding this profit margin and making it essentially come out of thin air is not always an easy proposition. But there is a way you can learn to flip websites quickly and relatively easily – and it doesn’t have to be so complicated that it’s difficult to understand.
So what’s the secret?
Understanding the Concept of Perceived Value
If you’ve ever tried to flip a website before, you know that it’s not as simple as improving a site. You have to convince other people that you’ve improved the site if you’re going to sell it for a higher price than the price at which you paid for it. How do you do that? You have to work on increasing not only the value of your site, but the perceived value of that site.
This means, essentially, that you’ll have to become a good salesman. In essence, you have to sell your site as a new product every time you flip a website.
If you were going to flip a house for profit, you would do things like invest money in it: revamping a run-down kitchen or replacing the piping systems can add tremendously to the value of the house. But if you’re going to spend $20,000 fixing a house up, you’d better get at least $20,000 more from the sale of the house than you spent in purchasing it.
The same basic math works with flipping websites, which is why it’s so important that you know how to find buyers that will give you a profit.
And that brings us to our secret.
It’s All About Knowing What Your Website Can Fetch
Spend enough time here at WebsiteBroker.com and you’ll eventually figure out what websites are able to fetch; you’ll know that if a site’s asking price is already the market rate, then there’s not a whole lot of room for profit if you were to flip that website. That’s the key knowledge that separates you from mediocre website flippers: the inherent understanding of the marketplace.
If you know, from the outset, what your website will be able to sell for once you’ve sunk some effort into it, you should have no problem flipping websites in the future. In fact, you’ll be able to spot good deals from miles away.
That’s how you become a good website flipper, and it’s how you’ll be able to make a profit consistently no matter what the market looks like. As long as you know what you can sell a site for (and experience should reveal this to you in time), you’ll know what a good deal looks like.