Virtual real estate is a booming business. Better known as website flipping, it has almost become an art form in recent years with people from all walks of life trying their hands at it with success. There are many website flippers, but the ones who are making the big bucks prefer to stay out of sight, quietly making thousands of dollars each month creating profitable websites and selling it.
Start by knowing your figures:
Having a proper financial system in place is going to be ideal. With the transactions being online you are going to want to consider how you will take payments, and how you will make them for various aspects of website flipping. There are many sites out there that guarantee security and ease of use. I will not name any or go into detail because I don’t want to influence you as you need to make the decision on your own as to which fits your needs the best.
Search for the website with potential!
The next step towards maximizing your success is scouting potential websites that you could purchase, add your style of flair to and your personal touch, and turn around and sell it for profit. You even could just think up a great name for a website, pick up the domain, throw up a great website on it and sell that. When picking and choosing a target you have to keep in mind the potential traffic it can generate, along with the untapped potential hidden if the current owner of it has just set up a poor website. You have to scout out websites and you have to know your target. If you find a website, you have to know the target audience that it services. You have to at least know in part what they expect from a site and what they need in a website.
Keywords are another part of the flipping process. When you analyze the potential of a website, you need to see if the keyword base can be expanded and more targeted to allow a wider audience to view the website and generate more traffic. Poor keyword selection and placement can be the downfall of any site.
The key to creating bidding wars online
How you sell the website is going to be another key. When you place it up for sale, you want to set a low bid as to attract rapid interest and potentially spark a bidding war at people looking for a good deal on the next big thing, and you also want to set a Buy It Now price. You want to allow the buyer to have a chance for a price predetermined by you to just say, that website is mine. Never undervalue your work or a site. On the flip side, do not try to price gouge. Just because something may be a hot topic, if you attempt to price gouge, someone will be there to snap up the customer and you will be left standing there with no sale.
To be successful in this line of online virtual real estate or “website flipping”, you need to be the seller who offers your customer the full package. You need to offer them the best bang for their buck. When purchasing from you they need to know that they have everything they need to just have that website up and running and tailored to their needs, without having to find someone else to finish things up. If you can buy a website, improve it through visual or functionality upgrades, and then turn around and sell it for a profit, all well keeping your customer happy, well then you are on your way to becoming a successful website flipper!