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How-To: Create Smart Passive Income in Less Than 15 Minutes

27
Jul

Read time: About 6 minutes!

Idea Summary

You will be buying low (cheap) PLR websites that are hot on Flippa, make them look better by customizing them and finally sell them for a profit. Initially, you’ll do all the work yourself until you get the hang of it. Then, you will outsource by hiring a VA to take over and handle the workload.

Plan Brief
Create 50 starter sites and sell them for at least $60/site every month netting between $200 – $2,000.

Overview

Goal: Generate $200 – $2,000/mo
Investment: $200 – $1,000
Newbie Friendly: 75%
Demands: 2hr/week
Timeframe: 1 Mo

How it Works

Step 1: Create an Account
Create an account on Flippa.com and verify all the information needed including phone number.

 

Step 2: Research

We are going to research what sites sell well on Flippa so that we can have a good sense of what websites we should aim to sell. We will also check to see if there are any unfilled niches that we can fill.

Go to Flippa.com, on the top menu: Starter Sites> Just Sold

starter-sites

A list will be displayed of all the websites that have been sold in the past few hours. The list above shows 26,477. Browse through as many of them as possible and try and pick up any patterns you find.

I’ve found out that Movie Sites are selling well. So I decided to pick one and dig deeper.

website-sold

The above website just sold for $247 with 46 bids. Based on our monthly goal, we only need to sell one of these to meet our monthly minimum goal of $200

What else can we learn from this listing?

After examining the seller profile as shown in the screenshot below, I can see that this seller has made $14,639 selling websites on Flippa and based on all their transactions they have a feedback score of 100%- very impressive!

Seller-profile

Under the “Watch Seller” button, there’s a “Listings” button. Let’s click on it and see what other sites this seller has sold or has currently listed. This will give us a better idea of what niches are doing well and even more important- which ones are not. We can then use this information as a starting point for our own niche websites.

Tip: Bookmark or copy the link to the user profile that you study and choose to emulate. We’ll need their info on Step 5

 

Step 3: Buy Websites

Google search “PLR Websites for Resale” or “PLR Websites for Sale”

Based on your research from Step 2 above, find websites that fit your criteria. Look up sites from the results that have these website. There’s BlogsBiz< that has websites for sale for as low as $19. Purchase as many websites as you need. For now, we can start out with 10-20 websites.

Test out different websites from the search results below and see which one will give you the most value for what you’re paying. Key is to find someone reliable and has quality products.

plr-sale

plr-resale

 

Tip: Buy WordPress based website unless the niche your after calls for a different platform.

 

Step 4: Customize

Keeping in mind that these PLR websites are being used by thousands of other people just like you, it’s important to customize them to have their own unique look and feel.

If you have a web design background like me, you are in luck, however, don’t panic if you don’t. Hire someone to customize the site for you.

Assuming that you bought 20 PLR websites, you can negotiate a good rate for bulk work. For most designers, they will be inclined to give you a good rate because most of the work will be redundant so they can crank it up fast! Now, head over to either Fiverr.com, Upwork.com (formerly oDesk), Freelancer.com, or Elance.com.

Create an account if you don’t have one and post your job offer. For Fiverr, you will just search for people offering website customization gigs. You can get this done for $5 dollars.

Tip: For more of an in-depth look at these websites check out my blog post “How To Affordably and Effectively Outsource Work to Freelancer”

After the work is successfully delivered, you’re ready to sell!

 

Step 5: List, Sell, Rinse & Repeat

Go back to the seller that you found in Step 1 and read through their most successful listings. This is your first listing so you need to learn as much as possible and make as few mistakes as possible cymbalta high.

Take note of all the information they have included in their listing. Remember to list all the features and benefits of your site. Show the buyer exactly what they will get and be fast to respond to all comments posted. There’s a bit of a learning curve but I am confident that after your first sale, you will have gotten the hang of it.

After everything, hit publish & enjoy your new income stream!

What’s Next?

Congratulations! You have successfully made your first sale, you’re excited! What seemed daunting at first is totally doable. List the rest of the websites and go crazy!

Alright, knowing all the work you’ve put in to this point, you’re probably thinking that this is not much of a “passive income” stream. Well, not yet.

Remember, there’s no such thing as 100% passive income. It just doesn’t exist. What we want to do is delegate this work in order to free up some time. The best way to achieve this is to hire a VA (Virtual Assistant) who will monitor your account and answer any questions that a user might ask. Our goal is to only put in 1-2hrs per week!

Over the first few months, work on creating an F.A.Q document that you can post with your all listings and also provide an internal one for your VA.  This will save you a lot of time down the line.

The other thing that your VA will help you with is ensuring a smooth exchange of ownership for the successfully sold sites to the new owner. This is a crucial step in the entire process so getting someone with a technical background is preferred.

Pitfalls

Not responding to questions posted on your listing can have a negative effect on your conversions. Also, make sure your after sales service is top-notch. Create a system that allows you to easily delegate and promotes accountability!

Tips

Spend a few months flipping sites so that you understand all the challenges that come up. This will help you hire the right person which will be key for this to be passive income.

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