Hi from a fledgling site flipper
  • Hi, my name is Kaleb and I'm 22. I am currently a computer programmer with a bachelor's degree in the field of computer science. Generally I work on business applications but I am looking to create a sound business model through web development. My main goal is to start making enough income through this business model so that I can stop working for my current company and start working for myself.

    I also make a small amount of side income through stock trading and multiple forms of poker, so if you'd like to message me about those as well I'm more than happy to talk about them in my down time. ;)
    Post edited by Unknown User at 2011-07-28 12:56:24
  • [quote="Thrasher66099"]
    Hi, my name is Kaleb and I'm 22. I am currently a computer programmer with a bachelor's degree in the field of computer science. Generally I work on business applications but I am looking to create a sound business model through web development. My main goal is to start making enough income through this business model so that I can stop working for my current company and start working for myself.

    I also make a small amount of side income through stock trading and multiple forms of poker, so if you'd like to message me about those as well I'm more than happy to talk about them in my down time. ;)


    Kaleb. Great having you on board. Let me know if you have any questions on where to start. I know there is a ton of information in here so let me know if you get overwhelmed.

    Thanks!
    Chris.
  • I have a couple of questions. What is the best route for absorbing this information? I'm looking at just going through each meeting chronologically. Is there a better way to supplement the material?

    Also I have a fairly busy schedule so what kind of returns can I expect to see if I can only spend 1-2 hours a day working on building this business model. (Obviously I'll have some free days where I can spend 8+ hours but generally it'll only be 1-2)

    Also I'm looking to turn this into my full time income so with that last question comes another very related one. With only being able to spend 1-2 hours a day how long would it take me (approximately, assuming I stay diligent) to eventually build to a monthly income that could replace my current full time income (about 3800 a month).
  • [quote="Thrasher66099"]
    I have a couple of questions. What is the best route for absorbing this information? I'm looking at just going through each meeting chronologically. Is there a better way to supplement the material?

    Also I have a fairly busy schedule so what kind of returns can I expect to see if I can only spend 1-2 hours a day working on building this business model. (Obviously I'll have some free days where I can spend 8+ hours but generally it'll only be 1-2)

    Also I'm looking to turn this into my full time income so with that last question comes another very related one. With only being able to spend 1-2 hours a day how long would it take me (approximately, assuming I stay diligent) to eventually build to a monthly income that could replace my current full time income (about 3800 a month).


    I'd suggest definitely attending the live calls as the happen and you are correct that going through the calls chronologically is a great strategy. However, I'd suggest after going through a call, you take some action before going to the next one. You'll learn fastest by "doing" and making mistakes than you will just listening to calls.

    So, the first step for us to get you to $3800/month is to decide on a flipping business model that fits with your goals.

    For instance
    - Selling 5 sites/month for $1000 each (exciting)
    - Selling 1 site/month for $5000 (big chunks)
    - Buying 5 sites that kick off $1000/month each (consistent)

    In general, I find most people will use some blended model like buying sites that make money, improving them, and occasionally selling some of them.

    Does any of that sound like the kind of business you'd like to have? What kind of assets do you have? Do you have money to buy sites? Can you build, improve, or monetize sites?

    It all starts with getting focused on a specific goal and business model.
  • I think the idea of a blended business model where I buy sites that make money, improve them, and then sell the less lucrative ones off makes the most sense to me. I do already make a decent salary (I'm underpaid compared to the national average for my career but I get by) so I have an extra maybe $200-$300 a month that I can spend to begin with. I really don't have much experience in the way of directly building, improving, or monetizing sites but the building should definitely not be an issue as I have a natural affinity for computer technologies and learn them very quickly. (Probably why I'm a computer programmer :P)

    The only reason I wouldn't go for selling sites in big chunks ($5000 per site) or selling 5 sites for relatively big chunks (5 at 1k each) is that I really want a sustainable reliable income source and those seem to have a little more unpredictability to them.
  • I think the idea of a blended business model where I buy sites that make money, improve them, and then sell the less lucrative ones off makes the most sense to me. I do already make a decent salary (I'm underpaid compared to the national average for my career but I get by) so I have an extra maybe $200-$300 a month that I can spend to begin with. I really don't have much experience in the way of directly building, improving, or monetizing sites but the building should definitely not be an issue as I have a natural affinity for computer technologies and learn them very quickly. (Probably why I'm a computer programmer :P)

    The only reason I wouldn't go for selling sites in big chunks ($5000 per site) or selling 5 sites for relatively big chunks (5 at 1k each) is that I really want a sustainable reliable income source and those seem to have a little more unpredictability to them.
  • [quote="Thrasher66099"]
    I think the idea of a blended business model where I buy sites that make money, improve them, and then sell the less lucrative ones off makes the most sense to me. I do already make a decent salary (I'm underpaid compared to the national average for my career but I get by) so I have an extra maybe $200-$300 a month that I can spend to begin with. I really don't have much experience in the way of directly building, improving, or monetizing sites but the building should definitely not be an issue as I have a natural affinity for computer technologies and learn them very quickly. (Probably why I'm a computer programmer :P)

    The only reason I wouldn't go for selling sites in big chunks ($5000 per site) or selling 5 sites for relatively big chunks (5 at 1k each) is that I really want a sustainable reliable income source and those seem to have a little more unpredictability to them.


    Let me know if this makes sense to you for a first action step.
    1.) Search flipfilter for sites making about $20/month.
    2.) Narrow down your the sites to niches you feel comfortable working in.
    3.) If you still have too many, narrow down further by looking for sites with the opportunity to double the revenue within 30 days.
    4.) Don't buy them without checking with the group first.
    5.) The goal will be to pick one up for around $200, do your best to increase the revenue over a 30 day period following closing.

    This will be a huge learning experience and we're all here to help through the process. Once you're comfortable, then we'll simply scale it up by investing more or selling and reinvesting.

    Chris.
  • [quote="chrismyates"]
    [quote="Thrasher66099"]
    I think the idea of a blended business model where I buy sites that make money, improve them, and then sell the less lucrative ones off makes the most sense to me. I do already make a decent salary (I'm underpaid compared to the national average for my career but I get by) so I have an extra maybe $200-$300 a month that I can spend to begin with. I really don't have much experience in the way of directly building, improving, or monetizing sites but the building should definitely not be an issue as I have a natural affinity for computer technologies and learn them very quickly. (Probably why I'm a computer programmer :P)

    The only reason I wouldn't go for selling sites in big chunks ($5000 per site) or selling 5 sites for relatively big chunks (5 at 1k each) is that I really want a sustainable reliable income source and those seem to have a little more unpredictability to them.


    Let me know if this makes sense to you for a first action step.
    1.) Search flipfilter for sites making about $20/month.
    2.) Narrow down your the sites to niches you feel comfortable working in.
    3.) If you still have too many, narrow down further by looking for sites with the opportunity to double the revenue within 30 days.
    4.) Don't buy them without checking with the group first.
    5.) The goal will be to pick one up for around $200, do your best to increase the revenue over a 30 day period following closing.

    This will be a huge learning experience and we're all here to help through the process. Once you're comfortable, then we'll simply scale it up by investing more or selling and reinvesting.

    Chris.


    I'm currently on the lookout for sites that meet these criteria. I did find one I thought might have a chance but it got snatched up before I could do some due diligence on it.

    I'm currently short on funds so an actual site purchase will have to be put on hold until I get paid on Friday.
  • [quote="Thrasher66099"]
    I'm currently short on funds so an actual site purchase will have to be put on hold until I get paid on Friday.


    No problem. Just keep at it and only invest when it's not going to hurt you financially.

    Chris.
  • I split this to the general discussion.