Quote:
Originally Posted by RLorenzen
Thanks, Dale. I appreciate the advice. I've decided not to buy the site after all.
Before I turned down the deal, I was planning on flipping the site so, any advice you have about that would be great as well.
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You're quite welcome, my friend. Richard, you can make a few dollars here and there by flipping sites. But if you want to make real money, create and develop a website into a valuable commodity.
Let me give you an idea of what I'm talking about. Two weeks ago, I was offered $95,000 for my website, GuruKnowledge.org, and my website is only two years old. No one else knows about this, except the party who made the offer. I thought about it for a couple of days, and turned down the offer. Why? Two reasons:
1. I really love my site, and I haven't achieved the goals I set for it yet.
2. If my website is worth nearly $100,000 to someone now, then it will be worth at least $200,000 to someone a year or two from now. Then again, it may have been a once in a lifetime offer that I received for my site. But I was willing to take that chance.
So if someone offers me $200,000 for my site next year or the year after, will I take it? Yes, I will accept an offer of $200,000 for my site. But not a penny less!
The point of my story is this: You can be short-sighted, and go for the quick cash and make a few thousand dollars flipping sites. Or you can think long-term and invest a couple of years building a website worth $100,000 or more.
Dale King
