Myth 1: Flipping Site involves Building and Selling Sites
The concept of flipping websites is similar to flipping real estate properties. First, you purchase a undervalued website, improve its performance and them sell it off for a profit. 99% of website flippers just buy and then re-sell the sites they purchased.
Of course, some are willing to make a website from scratch, taking care of the domain name and other aspect of building a website on their own and then sell it for profit. There is nothing wrong with this practice and in fact, fresh sites are more expensive than recycled websites, flipping a single site will take one to two years to develop.
Myth 2: Website Flipping is All About Establishing Back Links and Optimization Alone
Most people tend to think that improving a website’s traffic translates automatically to getting more money. Yes, SEO and establishing backlinks could help your website gain more traffic but its success and profitability does not lie on these factors alone.
Some sites are painstakingly prepared but end up generating money poorly because it is not properly monetized. For your site to reach its potential, you need to create better monetization strategies and apply these strategies on your website. While knowing a thing or two about website optimization or building bank links to improve the website will certainly benefit your business, they are merely an addition to what makes a great site, not a requirement.
Myth 3: If The Site Generates Money, Why Sell It?
This will depend on the flipper’s preference. Some flippers do keep some of their websites for their portfolio while others just sell the sites as soon as it starts making money. Note that some websites are selling more than 100 times its monthly revenue. If you feel that you are bound to benefit more from keeping the site for yourself instead of selling it then that is entirely up to your judgment.
If you want to keep the flipped sites note that maintaining them take continuous effort. If you are flipping site for full time, you need to hire someone else to maintain your other sites so their performance will remain good enough to be added to your portfolio.