Jane_Doe - 4:10 pm on Oct 27, 2010 (gmt 0)
I have had many offers on different sites over the years and have never taken any. In hindsight, had I taken any of the offers I would have lost money on all of them. I've never been offered more than the 12 - 18 months earnings, yet my older sites have been up for 5 - 10 years and are still going strong.
What do you do with the money? That plays a big part in the decision process. Do you re-invest in another business or another site? Do you buy some real estate? Do you become a landlord? Do you become an investor?
You have to do what works for you, but personally I'm into passive income, like making or buying sites that don't need a lot of upkeep and investing the income into other things that don't need a lot of TLC, like even more sites or domains (if I can find good deals) or CDs, TIPS, etc.
I know people make money in real estate, but property takes time to buy, maintain, etc. and it simply doesn't interest me.
Something else to consider is how your other sites might be affected if you sell a strong site. If you've been doing much cross-linking between your sites, your other sites might see a dip in their traffic and earnings once the new owners start taking out your cross-links and putting in their own.
That is a good point Buckworks. A strong site has ramifications beyond just that site's income.