I watch a television show called Flipping Out on BravoTV. Have you seen this?
It stars Jeff Lewis, a successful flipper down in southern California. (def: A Flipper is someone who buys a house, makes improvements and resells it for a profit)
Silly me, I thought that flipping was basically contained to the real estate world, so imagine my surprise when I ran across this article on the NYTimes.com website about people purchasing under-achieving websites, fixing them up and then reselling them for a profit, just like a house!
Dave Hermansen did not own a bird or a cage when he bought bird-cage.com, an online store, for $1,800 three years ago. He simply saw a Web site that was “very, very poorly done,” and begged the owners to sell it to him. He then redesigned the site, added advertising and drove up traffic. Last December, he sold it for $173,000.
Mr. Hermansen, 30, is among the latest wave of entrepreneurs who, like the day traders and real estate investors before them, are looking to make a lot of money without much effort.
This trend falls into the “totally new to me” catagory. It will definately be one I’ll do some research on.
Palo Alto Software