Entrepreneurs-Journey.com

I remember my first website sale. I made $13,000 Australian dollars selling a website that I had built from scratch myself. That sale was a big windfall for me and a moment I won’t forget because it was the first time I saw the real potential of online property investment.

Since that sale I’ve gone on to sell more than $150,000 USD in websites. Some of the sites I built myself, investing my own time and sometimes money, while others I have purchased and then sold for a profit at a later date.

I’ve never lost money on a website investment, although I have bought some sites that were not big money spinners - I got out with pretty much the same as I went in with. When profits are made though, the worst I have done is double my money.

Long Term Investing?

On the Internet you might call what I do long term investing since most of the sites I bought were sold no earlier than 18 months time. The websites I built myself take as long as five years to reach the point of sale, although I could have sold earlier for less or held on longer for more.

The best return on investment from a flip (a site bought and later sold) was 1,000% - 10 times the money I put in. It took a little over two years to do that. Another trade was a set of sites I purchased 18 months prior that brought in a little over double my initial investment.

In the offline world, returns like that in 18 and 24 months would be considered exceptional and certainly not standard. If a share portfolio or investment in physical property returns 20% a year you are doing well.

The world of the web is different. Everything is changing fast, yet with so many websites and so many people online, the size and potential of the market is tremendous. There are bargains out there all the time and as long as you don’t screw up what you purchase, simply allowing a site to grow organically can result in significant profits, if you are prepared to wait.

Flipping Part Time

I’ve never focused all my energy on buying and selling websites, which is why I haven’t done that many trades. Most of the time I work on whatever my main business projects are at the time, but I keep my eyes on some of the website trading forums to see if bargains come up.

When a site matches my criteria, I act fast with an offer, do some basic due diligence and if all things go well, make a deal. I miss out on more sites than I purchase because other people out-bid me, the site sells before I find it or due diligence convinces me to pass on a particular site.

As a result of buying websites purely as a side project, I’ve focused on a certain type of website and made sure I have people working with me who can help with the activities I don’t have the time to do. You definitely need to be careful if you want website flipping to be a part time job, it can quickly suck all your time, especially if you choose the wrong type of site.

Criteria for Part Time Website Flipping

Here’s some advice from what I have learned in the previous years flipping websites part time.

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I’ve mentioned before that I derive some of my income online from websites I have purchased - forums in particular - that bring in a steady stream of passive revenue.

It’s not a huge source of income for me (about low four figures at the moment), but given the return on investment - you can buy a website and earn back your investment cost within 12 months at most (usually closer to 6 months) - it’s hard not to take advantage of all the amazing opportunities currently available in the online real estate world.

Dominiche

Ed Dale became famous as an Internet marketer because of his amazing story of selling 38 niche websites for 5 million dollars. He’s gone on to make over 9 million from website trading and it’s pretty clear Ed knows how to make money from buying and selling websites.

Ed, along with his friend Frank Kern, created a program called Dominiche, which teaches people how to replicate their system for locating, buying and profiting from website real estate. Earlier this year Ed joined the team at StomperNet and it appears that Dominiche came along with him.

Presently Ed is producing a series of videos introducing people to the world of buying and selling websites as part of the relaunch of Dominiche, this time brought to you by StomperNet. I just finished watching video number 8, where Ed explains how sometimes it’s better to have little money when entering the web property market.

Yaro Quits Blogging

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Ed Dale and friends are running their annual Thirty Day Challenge program this time starting in August. Here’s what the program is about:

In a nutshell… The Thirty Day Challenge is about making your first $10 online. For a full 30 days we are going to be showing you exactly how to start your own Internet business and generate your first income online without spending a dime.

http://www.thirtydaychallenge.com

Ed emailed me about the program and offered this explanation of what the program will be like this year. It is completely free and designed for newbies, so I agreed to blog about since I expect many of you who read my blog are new to Internet business and are on limited budgets. Here’s what Ed wrote to me.

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I was at the Business Mastery Secrets conference on the weekend. The person I wanted to meet was Ed Dale, well known Australian Internet marketer most famous for selling his 38 niche sites for $5 million a few years ago. He’s also know for his “underachiever” program designed to teach anyone how to make profitable niche sites.

After Ed’s presentation I went and introduced myself and had a chat. I had plenty of questions to ask but I had to wait my turn since a lot of my fellow attendees eager to join Ed’s program were asking questions about how to make niche sites. Eventually I got my chance and it was great to talk because Ed knows a lot of the Internet marketing guys like John Reese, Frank Kern (his Underachiever partner), Rich Schefren, Brad Fallon (Ed’s on the faculty at StomperNet) and pretty much every top Internet marketer.

Two things make Ed Dale extra special though - he’s a fellow ex-Magic: The Gathering player (he knows Mike Long too) and he’s an aussie. He’s also bought and sold websites, which related to some of the questions I had since I do a bit website flipping as well.

While we were talking a middle aged lady came over to us who had been talking to Ed previously. She rushed over, very excited, went up to Ed and said “I’m your latest mentoree - I so excited, I’m going to make a million dollars”. She had just spent the $2,500 to join Ed’s program.

It was eerie the way she said “I’m going to make a million dollars”. It was clear that the sugar rush was running through her veins and she was entranced by Ed’s presentation and her focus was on getting rich building niche sites.

When I was listening to Ed talk to some of the people asking questions after his presentation he lamented the fact that he forgot to mention his guarantee for his paid program when doing the presentation.

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