The story began when I discovered Flippa, the website and domain name auction website. Which is a very good resource if you’re trying to do the above. So I enthusiastically marched forth. Armed with confidence and lots of ignorance, I started scouring the site for a good deal.
That’s where I made my first mistake. While good deals are aplenty all around us, there are always things that are too good to be true. I’ve always assumed that I knew what that meant. But the human mind isn’t as rational as we think. So naturally, my mind contained a ratio of cost/perceived value that excludes a deal from being too good to be true.
I bought this website for $500 on the promise of future income and verified analytics of up to 5k views per day. The listing also claimed that it was a resource for a certain type of web marketers who look for ‘High-PR Bookmarking Sites.’ Most of these these ‘High-PR’ lists are just broken links and websites that have a PR of 0.
It occurred to me that perhaps I stumbled upon a hidden treasure. The site’s global ranking on Alexa was really high, and it was an especially popular website in India. All these statements might trigger warning lights to many people, well, you’re not that smart. I don’t claim that you would fall for this just because I did, that’s just arrogant, but I do know that the promise of lucrative passive income can be most friendly yet secretly shrieking at you on a place like Flippa.
Free online services that offer a price estimate on websites gave me estimates ranging from $40k – $100k based on ‘potential earnings,’ so I went for it. More on that later!