Existing site or specialize

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I have my personal site which is 14+ years old and am now going to start promoting affiliate products based on articles etc.
I notice many marketers have a different site for each niche and sometimes each product. It seems foolish to me to get rid of a very aged site with PR3 and set up a brand new site. What are the pros and cons of having one site versus many?

Thanks
#existing #site #specialize

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