Some people have made some amazing money from their efforts. One site flipper created and sold enough brand new niche blogs to earn $1000 in just 24 hours.
Plenty more people followed along and soon enough the market was flooded with websites for sale. Most were sold on "potential". Someone would set up a blog, add a few posts and claim it was easily worth $100. Never mind the fact he had done little nor no keyword research, there was hardly any content, it got no traffic and the liklihood of the buyer actually making any money with it was slim.
The same goes for ebook sites. Amateurs were throwing together badly written ebooks of a few thousand words, creating what they called a "sales letter" for it (you should see some of these things!) and then offering them up for $2000+ sometimes.
At one point, you only had to list a website for sale there and it would fly off the shelves. I know - I was selling them myself and could make $100-200 per day working just a few hours.
But now it seems the tables are turning. And for the better.
You see, the market is so flooded, that it has turned into a buyers market. People looking to invest in a website can pick and choose exactly what sites they'd like to buy from a huge selection of possibilities.
Prices are dropping due to the over-demand as the amateur site flippers try to contsntly undercut each other to seal just one more sale.
And yet, there are still people making decent money flipping websites. These are the people who can see the game changing and are playing by the new rules.
They are:
1) Produce A Site To Be Proud Of
No more throwing together a few badly written articles and trying to sell them. Try to create the sort of site that you yourself would want to buy. Think about creating value. Add loads of articles ot a blog, create a really meaty ebook that you could genuinely imagine yourself selling (and feeling proud of). Now sure, there are some people who have been doing this all along (such as Kate Anderson and myself) but there are also a lot of sellers trying to peddle nothing short of junk. Be aware - they won't be around much longer.
2) Value A Site On Where It Is Today
Too many sites for sale are new and the owner talks about how much "potential" there is. Or the seller says a site used ot make $5,000 a month but now only does $1,000. Don't worry, they say, it still has the potential to make $5,000. What you need ot appreciate is that you either need to get it back up to that $5,000 a month yourself before selling it, or expect a valuation based on it's current income of just $1,000.
