Tips On Buying A Website – Set Your Criteria First

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so what I like to do firstly I’ll think about established websites I like to go with something that at least got a year old or six months or something I just don’t want something that someone set up and almost overnight they’re trying to sell it straight away because if I’m going to operate in that space I might as well go out and do that why don’t I want to pay someone else to set it up I can do that I can create a system that does that and a process to get that done so what I’m looking for is where is the value and I see value in aged business so you want to make sure it’s established you also need to think about setting what your price is if you’re buying you’re going to obviously need some cash we talked about defining what your floaties how much cash do you have to invest I’d say for your first deal if you’ve got under two thousand dollars to invest maybe you’ve got 500 or maybe you’ve got a thousand depending on what where you’re at you you’re either going to have to as Danny talked about the idea you’re either going to have to put in your own time and effort to build this up if you don’t have any cash but if you do have cash let’s get clear on how much it is that you have and I wouldn’t invest your entire investment float or investment capital into the first domain name that you purchase because what happens if it goes belly-up and it doesn’t work you you’ve just blown your entire float so cut it into two and as you get as you grow and your your your pool of available capital starts to grow then that percentage might change like you want might only invest thirty percent or twenty percent into a website as a percentage of your overall float so that way you’re just not putting yourself in a situation where you’re going to burn through cash and you’re giving yourself some fall backs and some chances should have not go ahead the next thing that I like to look at is making sure that there’s income it’s really important to purchase websites I think that I’ve got some income it doesn’t even have to be much I I might set my minimum criteria at 50 bucks or twenty bucks I just want to the reason I do that is to weed out all of these websites that just haven’t done anything yet there are exceptions to the rules of course and these criteria that I’m giving you this comes back to the idea that opportunities of a lifetime happen all the time so don’t feel like that you’re going to to to miss out on you know the opportunity of a lifetime there’s a good chance that you are going to be sad on good opportunities with these criteria but we need to set criteria otherwise you’re going to be looking through 14,000 options and that’s not a smart way to go you also want to have a look at setting some traffic minimums usually I like to see at least a hundred two hundred people a month minimum coming to a website there needs to be some traffic there for me to be interested I like to see at least a pagerank one I like to see you know that the websites got some action that said though if the website has got an increased amount of traffic and an increased amount of money then the page rank doesn’t matter so much for me so it’s all interrelated in for now let’s just set some of these and you’ll be able to alter these later if you’re not finding what it is you’re looking for so I also like to I suppose this comes back to the established website and that established website you can break into to the actual age of the business and also the age of the domain name themselves and I only search for top-level domain names I like net and info I don’t sorry not Johnny focus calm gorg and.net they’re kind of the three spaces that I operating so set these initial criteria and you’ll be able to map map that out and then you’re also like I mean that’s that’s just based on the flipper criteria in addition to that you’ll have further filtering process based off based on all of the criteria we talked about in the previous day the mailing lists the product domain names value site value traffic and new account so we use that first set of criteria to come up with a short list and then we start to review those websites based on the other traffic conditions or the other site valuing conditions that we talked about as we’re going through we start to look at these different options you want to look for sites that are marketed badly so I want to see ones that tick love the boxes that I talked about just above or just previously and you’ll set those minimum criteria so you want to make sure that you find sites that are marketed badly and hit those criteria you also want to identify sites where you can treat quickly add value this comes back to the idea of you’ll have a game plan and we talked about coming up with the game plan what are you going to do you know maybe we’ll show you how to renovate an aged a domain name quickly have that game plan you want to find websites that you could look at and because of your skill set go bang this area’s week on traffic but it’s strong on everything else like maybe it’s making good income relative to how much traffic it’s getting if it’s got low traffic but it’s making good income what does that mean that means that websites converting what does that mean that means if you can drive more traffic to it bang instantaneously you’ve added a hell of a lot of value to that website so and what are some then you might start to think well what are some ways that I can quickly drive traffic maybe I’ll start off by doing PPC and just to get that that going improved that it’s working and then we can start to look at some SEO stuff and flip side maybe you’ll find a website that’s getting loads of traffic but it’s just not making any money well how can you quickly add value to that website beat by adding an income stream this is where your eyes will start to get changed to now that you’re looking for the right thing for me personally I like to find sites where i can quickly add value by adding traffic and this is more so my own bias because that’s my skill set I can quickly add pages to a website drive links to it and then increase the traffic so when I buy a website I like to find something was a good business model I like to find something with a good product I think for me it’s all about finding good products that I know selling because i know i can almost overnight add traffic to that website and bang make it instantly more valuable but what is it that you like and this comes back maybe you are strong PPC maybe you are strong at creating product and and increasing the value that way that’s that’s why in the first day we talked about taking and a stocktake of where you’re at so a step one define what niche you going after what type of website get really clear on what you’re interested step 2 need to define your criteria know what it is that you’re looking for said some of these predefined criteria that the website must exist I’ll exhibit before you consider making a purchase and I’ll show you or will get one of the guys to make a video to show you how to set up some searches in flipper and some of the other ways that we look at our find websites as well and then the final step is then we need to start to add websites to our watch list so once start a web site start to meet that criteria we add it to our watch list and this will end up going on that spreadsheet that we talked about just not only will it go on the spreadsheet but you can also add it in flipper oh because like I say that’s a good place to start has the ability for you to add things to your watch list start to add things to watch list start to get a little bit of a gut feel for the price I think you need to be looking at when relating it back to the real estate analogy when I’m purchasing a house what do i do I look at so many houses in the area before I make a purchase because I want to know what the the market is valuing that particular house similarly you need to do the same when buying a website you need to look at a minimum of a hundred different options or maybe yep no I’m gonna set it a hundred let’s sit like I mean if you really want to make this your stick and you want to make sure that you’re good at this then you need to be looking at a hundred options first so you can get a feel for where that prices and you’ll be amazed at what starts to happen your eyes will start to see opportunity hold off don’t buy the first thing that jumps out your way as an opportunity