I’ve been following the Empire Flippers podcast with Justin Cooke and Joe Magnotti for a really long time. It’s been fun to watch their evolution from building tiny Adsense sites, running an outsourcing company in the Philippines, selling WordPress themes, and now really focusing in on their website brokerage business.
I even actually bought a site through their service last year, as another side hustle experiment, but sadly it didn’t go well.
A few months in, a Google update wiped it off the map. If you want to learn more about that unfortunate chapter, have a listen to the “buyer interview” I did with Justin last month.
But despite that bad experience, I’m still bullish on the idea of investing in websites and think this is an attractive side hustle for people with more money than time.
Consider this: it’s MUCH easier to buy an existing cash flow than to create one entirely from scratch.
In this episode, I’m excited to sit down with Justin to dive into the business model of investing in sites, where to look for these “digital real estate” opportunities, some pitfalls to avoid, and even some creative financing options.
Free Bonus: Download Justin’s Top Tips For Investing In Websites
Download the Free PDF "Highlight Reel" from this Episode
With all of my guest's top tips and resources included.
Enter your email to access it now:
Success! You just unlocked the highlight reel from this episode ... AND over 200 other subscriber-only bonuses. Check your email for details :)
(If it doesn't show up in 5-10 minutes, check spam/promotions.)
You'll also receive my best side hustle tips and weekly-ish newsletter. Opt-out anytime.
Subscribe to The Side Hustle Show on iTunes!
Subscribe to The Side Hustle Show on Stitcher!
Subscribe to The Side Hustle Show via RSS!
Sponsor:
- Personal Capital (now Empower): Set-up a free account to begin tracking your net worth, get investment and allocation recommendations, and plan for your (hopefully early) retirement goals.
Learn:
- The economics of digital real estate, and why the paper returns are so great.
- Why sellers sell.
- The skills and experience that might make this a winning side hustle for you.
- Where to look for potential sites to buy.
- Justin’s “fix and flip” strategy for cash flow and growth.
- The risks and rewards of low-end sites (sub $10,000).
- Justin’s specific gameplan for 2 buyer profiles; the person looking to diversify their investments and the person looking to quit their job and replace their income.
- The 3 things to consider when buying a site or building a portfolio of sites.
- Creative financing options so you don’t have to come up with all the cash upfront, and how you may even be able to use a self-directed IRA to invest in websites.
- A sneak peak at the Empire Flippers investor’s program, which is still in private beta.
- Justin’s #1 tip for Side Hustle Nation.
Links:
- EmpireFlippers.com
- Lifestyle Larry – Episode 128 of the Empire Podcast
- Flippa.com
- QuietLight Brokerage (for higher end sites)
- NichePursuits.com
- IAC.com (example of a massive website “holding company”)
See Also:
- How to Buy Income-Producing Websites, with Chris Guthrie
- Flipping Websites for Fun and Profit, with Freddie Mixell
- Domain Flipping: $70k+/yr Investing in Domain Names Part-Time
Download the Free PDF "Highlight Reel" from this Episode
With all of my guest's top tips and resources included.
Enter your email to access it now:
Success! You just unlocked the highlight reel from this episode ... AND over 200 other subscriber-only bonuses. Check your email for details :)
(If it doesn't show up in 5-10 minutes, check spam/promotions.)
You'll also receive my best side hustle tips and weekly-ish newsletter. Opt-out anytime.
Hey Nick and Justin,
Great episode as always… Good to see Justin here on Side Hustle Nation. It was almost like having two of my favorite podcast mashed into one!
Cheers!
Chris
Haha I felt the same way when we jumped on Skype for the first time — like oh this is really the first time we’ve spoken? You get used to a certain voice in your earbuds and you feel like you know the person :)
Any income produced by an asset in an IRA needs to go to the IRA, and same for the expenses. So if someone under retirement age is looking for income, that will not work. There may also be issues with actively managing/working for a business that is owned by your ira. Passively investing with an sdira to build a retirement fund would be a possibility for sure though.
You can seriously afford a 5 or 6 figure website? Well I guess I can scratch this off my list of things I can try