Buying an existing website could be one of the smartest decisions you make, but it could also be the dumbest if you don’t know what you’re doing. In this article, learn how to buy a website on Flippa the right way.
What is Flippa?
If you’re not yet familiar, Flippa is the reincarnation of the buying/selling websites section of the Sitepoint Marketplace. Due to increased demand, the founders of Sitepoint set out to create the definitive buying and selling websites marketplace in Flippa.com.
In early 2009 Flippa was released, and it’s quickly become a popular destination for website buyers and sellers.
Who Uses Flippa?
It’s important to understand the type of people that use Flippa. Flippa is what I would call a “mid range” website marketplace and for this reason attracts a more “mid range” seller. Generally, prices will not go above $100,000, and for the select few that do, I would caution you against purchasing something at that pricepoint on Flippa (I’ll explain why a little later).
Let me first explain what I mean by “mid range” sellers.
Fact: Most websites for sale on Flippa are complete garbage that you should avoid at all cost!
Flippa tends to attract the template style websites where the seller has only put together a turnkey package that is “ready” to make money (ready being the important keyword).
They’ll use phrases like “Clickbank Ready,” “Sky’s The Limit,” and “Potential” to entice you to purchase something that is basically worthless. Most of the websites (even the non-template ones) are mediocre at best and not the type of websites worth buying.
Think of it like eBay but for buying and selling websites. That’s exactly what it is. And what do you expect when you go to buy something on eBay?
A good deal.
That sort of mindset is exactly what makes these marketplaces both a blessing and a curse. Legitimate sellers do use Flippa, and you occasionally will find a gem, but when you attract such a large market (anyone who has a website they’d like to sell), you are going to have to spend some serious time sorting the wheat from the chaff.
This is also the reason I would be reluctant to spend over $100k for a website on Flippa. If you are working with that type of budget, you need to ask yourself the question, “Why would this website seller use Flippa to sell their site when most sales in that price range are handled by brokers?”
Again, it does not mean that you cannot find a good deal for a website north of $100K, it just means you need to be all-the-more diligent in your due-diligence.
But then again, this is what makes marketplaces of any sort so much fun. You KNOW there are hidden gems out there, and for the discerning and patient buyer, you’re diamond could be waiting.
The Right Way To Buy Websites On Flippa
I mentioned this above, but the “secret” to buying websites on Flippa is to be patient when browsing through the listings. As I write this, there are approximately 800 websites for sale, and somewhere in the ballpark of 20-50 are listed each and every day.
While there is no set number of sites you can review before finding a good one (for instance, I can’t say 1 out of 10 or 1 out of 50 is good), finding the winners boils down to removing as many potential red flags as possible when doing your research, and thankfully, Flippa has built-in many features to assist.
As you can see, Flippa does a nice job of summarizing all the facts about a website (and the seller) so you can quickly get a snapshot of the site for sale. Similar to eBay’s feedback, Flippa has a Trust score that takes into account previous sales, verified contact information, length of account, and more important information to help prospective buyers learn more about the sellers and their background.
Note: Like what you’ve learned so far? We have several Flippa Guru’s in our full training program that would be happy to assist with any Flippa related questions.