My newb attempt ends in success!
  • First, an introduction. I have been floating around in the IM market for a few years at least, and all I've really ever done is nothing. I've bought a couple of products here and there, read tons of stuff, tried it a little then gave up. Basically I'm the common "buy a product but don't take action" kinda guy. I decided it was time to change that. Seeing how KFS has a 200% money back guarantee, I was pretty sure it would work. I was excited about it as I was reading through the PDF like any other product out there. But when I actually get down to just looking for a site, you can see how I immediately lost hope and was even thinking of just getting a refund here.

    http://flippingnetwork.com/forum/showth ... p?tid=2151

    But the 200% money back guarantee requires that you take action so in a way, I forced myself to do something. I jumped on the first site that I thought could make me a profit. A crappy PR3 site with no real content, no traffic, no revenue. I tried to generate some revenue by selling links but I couldn't get any buyers. So, I heeded Chris's advice and listed the site as-is. I changed the theme, picked a new niche and got some PLR articles. Uploaded some of the articles as content and offered the rest as a BIN bonus.

    The auction didn't seem to be going too well in the first few days with ridiculous bids below $10. But as the auction was coming to an end, I featured it and the listing views grew. A few more bids were coming in but still nowhere near enough to cover my costs. I was losing hope. I live in Singapore so 7pm gmt is actually 3am here! I had to go to bed and wake up just before the auction ends. At that time the highest bid I got was $50 so I went back to bed since the listing is extended for another 4 hours. I have no access to computers in the weekdays so imagine me using my ipod going through my mail. I then woke up at 5am, checked my email again, and guess what? The site is bought at my BIN with payment already made to my paypal account!

    I didn't think anyone would buy a site like that for $297 but turns out someone did! I quickly apologised to the buyer since I was not able to do the transfer until I get home to my computer. I have just finished transferring the site so that's a deal completed. In summary,

    Paid $127 for this course
    Bought site for $60
    Total Flippa fees (listing + featured) $20 - use of coupon and there was some flippa bug so all I ended up paying was $20

    Total Spent - $60 + $20 + $127 = $207


    Total Received after paypal fees - $285.12


    Total Profit - $285.12 - $207 = $78.12

    So I didn't make that $150 as guaranteed, but the fact that I'm convinced flipping websites can be a business is more than what it's worth in cash. My next hurdle would be to do a bigger site flip.

    I would like to say that the support I get here (which can be seen in the thread above) plays a huge part of this mini success of mine. Thank you and I hope I can continue to recieve such support from this forum.

    Ryan
    Post edited by Unknown User at 2011-11-14 11:49:04
  • Congratulations, Ryan
    Duplicate yourself.
    Just do it again . . . and again . . . and again . . .
    Cheers, Jon
  • I have a feeling that this is a one-off lucky thing. I still can't believe someone would pay that much for such a site. I'm going to attempt a higher quality 2nd flip. Follow me in this thread...

    http://flippingnetwork.com/forum/showth ... p?tid=2670
  • This was a great success story. You surprised me with what you did. I wasn't sure how it would go for you after your first post seemed so hopeless. Congratulations!
  • SO how's it going rype89 . . . it's been awhile?[hr]
    We are both beginners so if you want to keep each other motivated I'm happy to start a beginners non-mastermind group - but rather one to motivate each other.

    My skype id is: delgadohilsenrath
  • Glad to see the forum is working for you. Keep posting to let us know how the next flip goes. You said you were surprised someone would pay that much for a site, but when I talk to people outside of the internet world and ask what they think it would cost to build a site, they say thousands. If I ask what do you think it would cost to buy an existing site they say more. It's all perception. Remember not everyone buying is an expert or someone in the site flipping business or online business for that matter.
  • Unfortunately, due to my other work commitments I've been unable to work on my 2nd site. Also it turned out the members of the forum I bought were probably all fake since the activity died out almost immediately after I bought it. I'll probably attempt another site flip when my time frees up.
  • what a pity - scammed on your second flip. Don't despair - remember what doesn't kill you just makes you stronger and smarter. Did you go through all the checks and balances advised by the guys on their ebook?
  • I agree with Rodrigo - you can't let any experience feel like a let down or setback. I've instilled a saying in my 10 year old daughter who now repeats it to her mom and two sisters. Thomas Edison: "I have not failed 1,000 times. I have successfully discovered 1,000 ways to NOT make a light bulb." It's all in the MINDSET.
  • Hey Ryan,

    Looking back, do you think you did your due diligence as a buyer? Sure you didn't make the $150 as guaranteed but do you think it would have been possible to buy a higher-quality website that might have been an easier sell (both to a new owner and for text-link-ads)?

    Out of interest, did you factor in the cost of your PLR content?

    Sorry if I sound at all antagonistic (just trying to get to the point) and hats-off to you on your success. I'm just reading up on everyone else's trials and tribulations before I take the plunge myself!
  • Hey jcpeden

    Well, honestly, at that point, I was really tired of looking any further for sites. I was looking for days and couldn't find something that felt good enough. To add to that, the guarantee only covering up to 90 days(if i remember correctly) was really pressuring me to stop thinking and just start doing something! Sure, if I did more DD I could've found a better site, or on the other hand I could've sat on and done nothing at all. Ever since that first site flip, I haven't flipped any sites to date. Right now I'm working on something else, but I'll definitely be back to site flipping one day. The PLR content was something I already had on hand so that didn't cost me anything.

    Good luck with your flip. Just once advice, sometimes you just have to take a leap of faith. After all it's through mistakes that we learn. If you keep looking for that perfect opportunity to come by, you would probably miss many other good ones while waiting.

    Cheers
    Ryan
  • Thanks for your input Ryan,

    Its always good to find out what someone else thinks about their results on reflection and the lessons that *they* took from it.