Introducing The World Of Website Renovation: Part 1
Matt and Liz Raad introduces us to the world of website renovation – a niche that permits immense profit creation from a trillion-dollar marketplace.
If you’re looking for options to invest but are not quite decided on taking on a physical property yet, you’ll find its online counterpart interesting.
While the real estate market speaks of physical properties as its primary asset, virtual real estate speaks of something you all know about: websites.
Physical and virtual real estate are similar in many ways but as an investor, you’d be interested in one: creating profit from them. So let’s compare both.
YOU HAVE THE OPTION TO BUILD AND SELL IT
In physical real estate, you can opt to purchase land, build a property on it, and sell it. In virtual real estate, you can buy a domain, build a website for it, optimise it, monetise it, and sell it.
YOU HAVE THE OPTION TO BUILD IT AND RENT IT OUT
In physical real estate, you can build a property on land, furnish it, and rent it out. In virtual real estate, you can buy a domain, create a website, optimise and monetise it, and rent it out. How? Through advertising space.
A well-optimised and monitised website can attract advertisers. If you’re going to proactively do it, you can become an affiliate marketer. This way you can use your pages and content to display your affiliate links. When someone purchases through the links you have, you earn a commission.
YOU HAVE THE OPTION TO BUY AN ASSET AND RE-SELL IT
In physical real estate, you can buy an existing property, renovate it, style it, and re-sell it. In virtual real estate, you can buy an existing website, renovate it, and re-sell it. This is called website flipping. And there’s much to discuss about it. There are upcoming blogs related to website renovation and flipping that you can watch out for.
YOU HAVE THE OPTION TO BUY AND RENT AND/OR HOLD IT
In physical real estate, you can buy a property and hold it. While it’s on hold, you can either rent it out or live in it while waiting for favourable market signs to sell it for a more profitable price.
In virtual real estate, you can buy an existing website, renovate it, optimise it, and monetise and rent it out at the same time.
What makes the second one a little different is that you’re going to add options to create additional revenue by selling your own product or service on top of you leasing advertising space and doing affiliate marketing. This doesn’t necesarilly mean you’re flipping though. At least it doesn’t until you decide to sell your website.
YOU CAN SELL REAL ESTATE MORE PROFITABLY
There are vendors whose strategy is to buy a physical property and re-sell it. But there are vendos who buy a physical property, renovate it, style it for market presentation, and sell it. The latter type of vendors actually end up making more money than the former. Why? Because of value.
There’s value to be added to the sale price when doing property renovation.
Now, for its virtual counterpart, it gets a little tricky because the value of the website not only depends on the renovation work done. It also depends on verifiable data. This data acts as proof that the site performs better on search engines, that it functions better, and that it sells better after it got renovated.
The vendor then needs to prove this by showing the numbers to the sellers.
When you decide to focus on virtual real estate, you’ll need to ask yourself the following question. Which option is better – building the website or buying it?