$2,300 - My first ever flip
  • Hey everyone! I just wanted to share my first flipping success with everyone and go over things I think I did right and things I think I did wrong. Also, I did not buy this website. This is a website I created myself several months ago.

    Let me first just say that I could have not done this without Thomas, Bryan, Killer Flipping Secrets, and everyone on the forum. I've read every thread and learned so much from others questions and answers. So thanks everyone.

    Please go ahead and check out my auction and read my sales copy at:

    http://flippa.com/auctions/96496

    Some facts about my auction:

    - 7 day listing (Sat to Sat)
    - $1 dollar No Reserve
    - Started the auction at 9am CST Sat
    - Auction ended at 10am CST Sat
    - Auction Upgrades = Listing title in bold & Listing row highlighted
    - Featured 3 times
    - Right when I listed the auction (Sat 9 am CST)
    - In the middle of the auction (Wed 10 am CST)
    - At the end of the auction (Fri 11 pm CST)
    - Over 1,800 auction views at the end
    - Over 50 watchers of my auction
    - I selected for the Buyer to pay the 5% flippa fee
    - Was top 5 in most active section

    Things I think I did right:

    I think overall my auction copy was really good. I think I used color really well to make it easy to read. I spent a few hours the night before writing all of it in microsoft word and getting all screen shots ready. Thanks for that tip from Bryan and Thomas. I was prepared when the morning came and it was pretty much copy and paste to get my auction up and running.

    I made the buyer pay all flippa fees. I didn't seem to have a lack of bidders or watchers even though they would have to pay the flippa fees. The way I see it is the buyer was paying for me to keep featuring my auction, which leads to more bids and more money for me.

    I talked to my bidders. After every bid I would send a pm to the bidder thanking them for bidding on my auction and I also gave them my skype username. I ended up talking to several people through email, skype, and even phone. Not every bidder took the advantage to talk to me outside of flippa but several did. There were at least 6 people that asked if I had other sites for sale. I have all of their contact details and they will be the first to know when I have other websites to sale.

    Don't be scared to talk to your bidders. Even the people who didn't bid, if they messaged me I gave them my skype username. The winning bidder was the one that I talked to on the phone and I had several bidders contact me after the auction was over congratulating me on my sale. 100% of the people I talked to were professional and nice and probably 90% of them were new to flippa with no feedback. I was worried about that at first when I was getting bidders who had joined flippa less than a month ago, but just talk to them and get some general info about them and you will be able to tell if they are legit or scammers.

    I had several offers outside of flippa to buy my website. All offers I felt were too low and I held my ground and stayed with the auction. Those people giving me offers were telling me they were giving me a premium for my website, but I knew I could get more if I stuck with the flippa auction. And I did get more than anyone offered.

    I wanted to use safefunds.com to receive my money, but the buyer really wanted to use his credit card. Safefunds.com does not allow you to pay with credit card, but escrow.com does. You have to pay double escrow fees though. I told the buyer since he wants to use his credit card, I will agree to use escrow.com, but he has to pay the escrow fee. ($114) He agreed. So I didn't pay flippa fees or escrow fees.

    If you have a few bidders who are going back and forth near the end of the auction, make sure you have a way to contact them. Email, skype, or phone. The eventual winner of my auction had the high bid of $1500. With 8 hours left in the auction someone else came and outbid him for $1600. I sent a text message (we had already been texting back and forth) to the eventual winner letting him know that someone just out bid him by $100 and that the auction ends in 8 hours. 3 hours later he came and bid $2300 eventually winning for that price.

    During your auction, search google for your website url and go through the first few pages. What you are looking for is if anyone is talking about your auction, maybe on a forum or blog. There was someone who was talking about my auction on a forum and I was alerted to it by someone here. I actually went and replied several times in that thread and was well received. I also had someone message me on flippa saying: "I read your post in the forum and found it pretty refreshing. It's a nice change from how people usually shill their sites." So if you do see someone talking about your auction or website and you decide to reply, do so professionally, because your potential auction winner could be reading it.


    Things I think I did wrong:

    I thought listing my auction Sat morning at 9am CST was a good idea. Yea, it was... until I realized it would be ending at 10am CST on a Sat morning. I ended up staying up all Friday night just in case I got any questions or bids. I think next time I would start a little later on Sat, maybe around noon.

    My BIN bonuses were way too crazy. Seriously what was I thinking? I will not ever make my BIN bonuses like that again. I could not lower my BIN any because my BIN bonuses were too good. I had 2 different people wanting to buy my BIN bonuses on the side and I had several people asking about buying the website through the BIN button for less without the BIN bonuses. What I learned is to give good BIN bonuses, but don't make them so good that you can't lower the BIN price. Also, your BIN bonuses are too good if you have people wanting to buy them on the side. ;p

    This being my first ever auction I had refresh syndrome. Just like this except replace facebook with flippa. http://www.urbandictionary.com/define.p ... 20syndrome Please don't spend your time refreshing your flippa auction every few seconds just to see if you got another view or watcher. Just have your email up and you will receive an email right when you get a bid, comment, or pm.

    Overall this was an amazing experience. You learn so much by just doing. I would have not gotten close to $2,300 if I didn't learn everything I have from everyone at Killer Flipping Secrets. (Thanks Thomas and Bryan)

    I look forward to everyone's comments and please feel free to tell me what you think I did right or wrong.

    Thanks!

    Brent Jacoby

    Edit:

    It appears that escrow.com was only allowing the buyer to pay with wire transfer and not credit card like he wanted. I have agreed to use paypal. I've sent the buyer a contract to sign, once I get that back I will send him an invoice for "goods" from paypal. For paypal purposes the "goods" will be a cd with the website files I will send to him in the mail. I am also making him pay the paypal fees.

    The only reason I have agreed to do this is because I have talked to the buyer several times on the phone, through text message, and by email. I would not suggest going this route unless you feel you can trust the buyer.
    Post edited by Unknown User at 2011-09-04 05:03:30
  • Way to go, Brent! This was a great learnng experience for all.
    ----------------
    And an Xfactor site to boot!
  • Congrats Brent!
    Very very impressed!
    Thanks for sharing, every post you make here contributes a lot, great values!
    Keep the spirit up!

    Peace,
    Patrik
  • You might want to try "masspay" with paypal.

    Trinity
  • Paypal is usually a last resort but sounds like you have taken all of the appropriate precautions in this case.
  • Well done Brent!!!

    And thanks so much also for all of the details.. they make a great case study that we can all learn from.

    And good luck with your lady friend as well. ;-)
  • [quote="Trinity"]
    You might want to try "masspay" with paypal.

    Trinity


    Thanks for that Trinity. I checked out mass pay, but you can't do it if they are paying by credit card.[hr]
    [quote="Thomas"]
    Paypal is usually a last resort but sounds like you have taken all of the appropriate precautions in this case.


    Yea, I wouldn't have agreed to it if I didn't trust the buyer. I will be getting a tracking number and requiring a signature with the CD.[hr]
    [quote="cornflower"]
    Well done Brent!!!

    And thanks so much also for all of the details.. they make a great case study that we can all learn from.

    And good luck with your lady friend as well. ;-)


    Thanks cornflower![hr]
    [quote="reports"]
    Congrats Brent!
    Very very impressed!
    Thanks for sharing, every post you make here contributes a lot, great values!
    Keep the spirit up!

    Peace,
    Patrik


    Thanks Reports! I appreciate your kind words.[hr]
    [quote="BillyPilgrim"]
    Way to go, Brent! This was a great learnng experience for all.
    ----------------
    And an Xfactor site to boot!


    Thanks BillyPilgrim!
  • Congrats on that very successful listing!

    That's very inspirational to say the least. It has given me ideas for a future listing I will be doing.

    Thanks for sharing this!
  • That's pretty flipping (funny joke is funny) great :) Nice job man!
  • Brent,
    Could you talk a bit about how you built links to the site and your keyword selection process?

    Thanks

    B
  • congrats on your first success mate, kindly clear these things
    1. how did you got 19 bids
    2. did you promoted your flippa auction somewhere else too?
    3. did you done anything else apart from this listing to get visitors on your auction?
    keen to know these things, kindly elaborate in detail asap
    thanks
  • Thanks Mohit.

    1. I got 19 bids because I featured my auction 3 times.

    2. I did not promote it anywhere outside of flippa.

    3. Yup, I featured it 3 times.
  • This is a great case study. Excellent info. I'm going to use it as a blueprint when I next flip.
  • Great story and congrats!
  • Thanks flipster and Flip!
  • Hi

    a question? did u buy this site or build it?
  • He built it.He said it in the OP that this is his own site that he is selling now.
  • [quote="magicpana"]
    Hi

    a question? did u buy this site or build it?


    Yup, I built it.
  • [quote="Thomas"]
    Paypal is usually a last resort but sounds like you have taken all of the appropriate precautions in this case.


    hey - please explain why pp is a last resort - [ read kfs ages ago ]

    cheers B
  • Congrats on the flip Brent keep it up.
  • Wow, nothing better than a real life case study. I just learned more in 5 minutes than most will learn on their own trying to connect the dots. You Rock! :cool: