I was rummaging around my apartment looking for my Canadian passport this week and came across a DVD recording of one of my presentations at an Andrew and Daryl Grant workshop. The focus of the workshop was quick cash ideas, and I was invited to tell my story of how I “flipped” websites part time and made $180,000 in profit.
I managed to take the content from the DVD and get it online for you to watch. The quality is not great, but you can certainly understand what I am saying and see most of the presentation fine.
I was considering keeping this as a private bonus only for my members because there really is some great content in this presentation and the people at the workshop paid to be there, but I reconsidered because I like to share as much as I can with you.
You can watch the whole presentation right here on my blog. It’s an hour and twenty minutes long, no pitches, just great case studies of how I bought and sold websites and made good money doing so, all as a part time activity.
This presentation was done in 2009 and was one of the last recorded presentations featuring my full long hair – so it’s a bit special :-).
A few of the links in the presentation have changed, most notable the Sitepoint website marketplace has moved to its own domain, Flippa.com, which has some pretty cool features, so well worth checking out on a daily basis if you are into website investing.
Although blogging has been my main business for the last five years and before that a proofreading business called BetterEdit was my focus, I had plenty of spare time to dabble in other things because the models I follow require only part time work.
The most successful side project I have done so far is investing in websites.
Some of the profit I made came from websites I bought, improved, and held as near-passive income sources, and then later sold, and I also sold two of my web businesses (including the proofreading business), which I created from scratch myself over a period of years.
All of this happened while I spent the majority of my time working on my businesses, so if you’re looking for a way to reinvest your profits or expand your income sources, watch this video.
It’s also worth noting that several of the websites I purchased ended up creating income streams of one to two thousand dollars a month, and required very little maintenance to keep that money coming.
Many times I considered quitting everything else and just focus on buying websites because the return on investment, when you do it the smart way, is quite good – and you can build diversified income streams. Of course the more sites you buy, the more maintenance required, but as I explained in the video presentation, you can outsource much of the work, so it is a scalable business.
I still consider this a brilliant opportunity. The tools we use to access information online are becoming more diverse each day, meaning we use the web more (for example, I never used Facebook or Twitter nearly as much as I do now thanks to my iPhone), and more people are coming online as infrastructure is rolled out across the world and people are educated in how the web works.
As with property in cities with growing populations, now is a great time to “buy land”, establish market leading websites and then flip them for profit or sit on them as cash flow sources, watching their value increase until you are ready to sell.
If all this sounds confusing or you want to learn how I did it, please watch the video at the top of this page. I also recommend you check out these related articles I have previously published about buying and selling websites –
I’ll have the transcript of the video for you up soon. I hope you enjoy the video and please post your feedback or questions as comments in reply to this blog post.