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|Are flipping websites the best investments? |
I say YES...
I'm in my late 20s and started building websites as an investment vehicle in 2005. Since then, I have sold around 100K worth and I just sold another today. While it was not much, it still beat any interest I've gained in my Roth IRA and money market accounts. Plus, it's FUN..and the hunt to develop the next great idea is what keeps me motivated!
Also, what I like to do is think of something I want to buy in the next 2-5 years...say...a new car...or a new house. I then build a website and plan to sell it within that time frame. So far this year I've purchased an airplane (20k) and acreage out in the country.
Disclaimer: I'm single...so that REALLY helps, too. But I figured I'd do what I can until I get to my mid 30s..then I'll settle down. OH yea, and I get to be self-employed. The best of both worlds.
[edited by: skunker at 2:31 pm (utc) on Aug. 25, 2009]
I would advise you to keep a tab on the market prices for all your sites, even though you actually are not willing to sell them. This may confirm that you are in the right direction.
Abt me, I have few sites, planning to boost the traffic and if i get a good deal on them, i may flip it and move with the next ones.
|I would advise you to keep a tab on the market prices for all your sites, even though you actually are not willing to sell them. |
Most of my sites have been up for many years, but the going rate for most content sites is only a year or so's worth of earnings. In hindsight, I've never been offered more for a site than what I've made by simply hanging on to it and collecting the ad revenue. There is a lot to be said for passive and almost-passive income.
I agree with Jane.
I'd want x number of years income for some of my sites.
|but the going rate for most content sites is only a year or so's worth of earnings |
If it really is passive income the site will easily command several years' worth of earnings. I see many examples of sites that have sold for in excess of three years' earning and in some cases, five years'.
Isn't this discussion really about personality or charisma and things like that?
I mean I can make decent websites, with excellent SEO, I can put interesting content in them and stuff to sell. I can put down some money to advertise my site, but in the end, I never make any money from them.
I looked at other sites like mine, but the only difference I see is that all the other sites started becoming popular because of active advertising, not passive. And the only way one can actively advertise a site is by being able to talk, to persuade, to manipulate even (in a good sense), to make contacts, build a network. All personality traits I lack.
I choose this profession not only because I like coding and designing, but also because I have a personality disorder. And it is exactly that which prohibits me from making "big" money.
So I think you can be successful at a lot of jobs (web related or otherwise) as long as you are good at social stuff and selling things.
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