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I want to Own and Operate Websites full time. What is the best path?

Discussion in 'General Business' started by en3r0, Sep 16, 2017.

  1. #1
    If this is the wrong sub for this type of post please forgive me.

    My end goal is to own and operate websites. I can create websites start to finish no problem, SEO, some advertising experience, Amazon, the whole nine yards.

    The trouble I am facing is how to transition. I currently work a full time job and some side jobs. I am married and a baby is on the horizon.

    I have been looking into loans to purchase a website that is already doing well enough to support us. To get one performing well enough you are looking at 100k minimum. A lot of things about this path seem unrealistic, from obtaining a loan that size to living off that income as well as paying off the debt.

    Thoughts? Is there anyone pursing similar goals? Resources?
     
    en3r0, Sep 16, 2017 IP
  2. qwikad.com

    qwikad.com Illustrious Member Affiliate Manager

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    #2
    DO NOT!! Under no circumstances you should borrow money to buy a website. A website (even well established) is a volatile commodity. Plus, with the amount of cheating that's going on (fake, exaggerated stats and reports) you will most likely be duped.

    AND.... think logically. Why would anyone sell you a website that's worth $100K?? Nobody in his/her right mind will EVER sell you a website that is performing well and making that kind of money... UNLESS they are full of sh*t.
     
    qwikad.com, Sep 16, 2017 IP
    macstux and sarahk like this.
  3. en3r0

    en3r0 Active Member

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    #3
    I will agree with you that websites can be volatile. You would want to look at the history of earnings to help put your mind at rest.

    I think there are many mindsets to look for when examining seller motives though, and yes scamming is one of them. But due diligence and even using a broker can weed them out. Heck, if you are really uncertain why not fly to meet them when that kind of money is on the table.
     
    en3r0, Sep 17, 2017 IP
  4. JoeSpirit

    JoeSpirit Well-Known Member

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    #4
    I have to put my 2 cents in on qwikad's side here. History of earnings is too easy to fake with the computing tools available today.

    You say you have a job and you have no problem creating websites, optimizing them, and you have advertising experience. Why not put those to use. Get a domain (around $10/year). Get a hosting service (can do for around $10/month and one service that I know of is a one-time fee with no recurring monthly expenses).

    Build your website from scratch. Do it part-time. Find and create some products to market and put your advertising skills to use for your site.

    Success won't be immediate or guaranteed. But if you have the skills you claim, put those skills to work, and persevere, you stand a good chance of building a business that will support your family in time.
     
    JoeSpirit, Sep 17, 2017 IP
  5. en3r0

    en3r0 Active Member

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    #5
    Thanks for the reply Joe.

    I would imagine if you could reduce that by requesting bank statements or account access to whatever 3rd party programs are being used? I would think it stats to get more like selling an official business at that level, but maybe not in all cases.

    I do think that is the best route to go, but the amount of time I find myself having for extra work is already low. I imagine with kids it becomes even more scarce which is why I am exploring the idea of a loan.
     
    en3r0, Sep 17, 2017 IP
  6. JoeSpirit

    JoeSpirit Well-Known Member

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    #6
    It's true that verified financial records would serve as assurance that the site is performing as claimed. Keep in mind that part of that performance is based on the marketing abilities and activities of the present owner. Historical performance won't be surety of future performance under a different owner.

    It does sound to me like you've convinced yourself that buying an existing site is the path you'll take though. In light of that, I wish you all success in your venture.
     
    JoeSpirit, Sep 17, 2017 IP
  7. dcristo

    dcristo Illustrious Member

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    #7
    I wouldn't say never this business has terrible cash flow and some people need a large injection of funds for whatever reason. Perhaps they've grown tired of managing the website and want to get into another business. But yeah your fears are legitimate Flippa seems hella shady. I can count on one hand the number of people I trust online.
     
    dcristo, Sep 17, 2017 IP
  8. NetStar

    NetStar Notable Member

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    #8
    With all seriousness... gone are the days where banks just write you a check for $100k. The chances of you securing a loan for $100k without putting up your Home with major equity is unlikely. But let's be hollywood and play make believe... Say you are issued a $100k loan and found someone willing to sell you a profitable web site that nets you enough money to afford your newly acquired debt, mortgage and support for your family. Where is the money coming from to invest in advertising and maintaining your level of profit? AND How are you going to maintain a profitable business when you can't even build a profitable business???

    This whole thing sounds like a dream. If you were single and living in your generous mothers basement this would still be unlikely. You're a man with a wife, a child, and real responsibility. You need to put this on the back burner.

    Not that you asked for advice but.....your focus should be on stability and earning above your means to financially provide for your family. Once that is in order your side business can be built from scratch.

    $100k isn't enough to buy a web site that is profitable to the point you can take a salary to support an entire family on lol. I'd imagine if you're able to NET a true $20k a year you MAY find a seller for that site at $100k. But most people would put the $20k back in to the business and not ATTEMPT to live off it. And $20k isn't even enough to live in poverty lol.
     
    NetStar, Sep 17, 2017 IP
  9. Milliardo

    Milliardo Active Member

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    #9
    Owning a website and somehow making it profitable isn't easy. It's not how it was back in the early days of the internet with the .com companies earning millions. Now a lot of people and companies have sites, and it has become crowded. In order to be noticed, you have to stand out now--not exactly an easy thing to do with the crowded internet today. What is needed is a product that would stand out, or else a site that will differentiate itself from others. You need to find out what product or how to make the site stand out. Offer something that others don't, or others don't offer as much.
     
    Milliardo, Sep 18, 2017 IP
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  10. en3r0

    en3r0 Active Member

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    #10
    You make some good points, thanks for responding!
     
    en3r0, Sep 19, 2017 IP
  11. Spartan14

    Spartan14 Active Member

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    #11
    Well this can work but you must make yourself a good plan on how to monetize it .You can promote affiliate offers or you can use adsense etc .Do very good your research ,owning some sites it dont means you will make a lot of money
     
    Spartan14, Sep 20, 2017 IP
  12. HarrisonDaniel

    HarrisonDaniel Greenhorn Affiliate Manager

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    #12
    Listen to this person! If you do somehow manage to get that loan without having to offer up your left arm, or something even more important to you, as collateral that money would be better spent and likely yield results faster by investing in advertising or having affiliates market a product for you.

    HOWEVER...

    Running an affiliate network, and marketing products on a website don't seem to be the ultimate career goal for you so I'm not sure how helpful my comment will be. Long story short, any bank that will cut a cheque for a $100K loan is not going to give any quarter (pun intended) when it comes to interest. Goes without saying, but it's not worth risking yours and your family's future.

    Use the skills you have, they're the ones you need. Suffer at the day job a while longer and grow a few websites to the point of profitability. Then market on them or sell them outright to generate the capital you require to fund the dream you have.


    ...or at the very least to keep aside for when the bank comes around to collect interest lol.
     
    HarrisonDaniel, Sep 29, 2017 IP
  13. dscurlock

    dscurlock Prominent Member

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    #13
    Even if you have a great credit, and a good job, it is unlikely you would be to get a $100k loan for a website...
    It is really god awful tough to get a loan for a house, and look up current interest rates on home loans, so in
    theory, if a bank would give you a loan, then it would be a business loan, and it could be calculated at risk,
    and therefore, your interest on this loan may not even be feasible, and if you should make a bad choice,
    and this site does not perform as you had hoped, then you are pretty much screwed.

    I would highly suggest doing some research on a profitable niche, find a decent domain, then
    setup your own site, and if you are lucky, maybe you will be profitable within a year or two...
    as a remember, setting up a site for income is a high risk gamble as there is no way to
    guarantee that you site will succeed, however, it is less risky then trying to get a $100k loan....

    I know alot people want to make money online, and most just end up spinning their
    wheels by dumping more money into something that may never get off the ground...
    even if you have alot of skills which will save you money in the long run, but still,
    that is no guarantee your site will ever get off the ground, some get lucky, most dont...
     
    dscurlock, Sep 29, 2017 IP
  14. en3r0

    en3r0 Active Member

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    #14
    Thanks for the replies, I really do appreciate you taking the time!
     
    en3r0, Sep 30, 2017 IP
  15. JohnApuna

    JohnApuna Well-Known Member

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    #15
    I am in the same mindset that I want to build and manage websites, but for sure be careful. I sent you a PM.
     
    JohnApuna, Sep 30, 2017 IP
  16. DirtRider

    DirtRider Greenhorn

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    #16
    I personally don't believe that one should rely on expecting to live off the proceeds made on a website as stated above they are very volatile. A website can be doing great today and something changes and the next day participation starts dropping off. I have been in this position a few times just doing hobby sites so if I make any cash out of a site then that is just a bonus.
     
    DirtRider, Oct 1, 2017 IP
  17. HarrisonDaniel

    HarrisonDaniel Greenhorn Affiliate Manager

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    #17
    Out of curiosity, what drew you to the idea of managing/flipping web sites?
     
    HarrisonDaniel, Oct 2, 2017 IP
  18. jetone

    jetone Member

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    #18
    A better and practical alternative would be to save up a few thousand dollars ($5k - $10k) and invest that in a website you see potential in. This way you can keep your full time job and test the waters as to how the website is progressing and gain valuable experience before jumping into the industry full time.
     
    jetone, Oct 2, 2017 IP
  19. en3r0

    en3r0 Active Member

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    #19
    I have always been drawn to websites. Got started 20+ years ago when I was a kid and have been doing development / marketing for them ever since. I also value self employment, so I think it makes sense.


    I agree that is a better alternative.
     
    en3r0, Oct 5, 2017 IP
    HarrisonDaniel likes this.
  20. HarrisonDaniel

    HarrisonDaniel Greenhorn Affiliate Manager

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    #20

    Realistically, it sounds like you are more than capable of making the initial dream a reality. Maybe you got a bit excited and tried to jump straight to the end game, Rome wasn't built in a day. Take your time with things, don't try to jump straight into being an empire. In the best case scenario that you make money right off the bat and can pay back whichever loan shark gives you the 100K (joking), it would take literally all of your time to manage such an entity effectively which wouldn't leave a lot of time for family. ...or anything else for that matter.

    Slow and steady wins the race.
     
    HarrisonDaniel, Oct 6, 2017 IP