Just Listened to Rich Dad Poor Dad and I am thinking of buying websites. Any advice?

Don't buy any websites until you understand how to promote them so that they can make money. If you buy something for a business and it does not make you a profit, you have bought a liability, not an asset.

Good deals on web sites are hard to find. There are lots of scams out there so it isn't something to just jump right into. As JMichaelz said, learn how to promote sites on your own first. Then you can buy inexpensive sites with low earnings and turn them around.

It's worked for many. Not just here, either.

You MUST study marketing, promotions, and sales. This is
the BIGGEST key Rich Dad, Poor Dad stresses in ALL of his
books if you look closely. He's a master salesman and mar-
keter.

You don't have to be as good as kiyosaki to make money
selling, but you DO have to be good. And this will only come
with time, practice, patience, and experience. And, if you
can stomach it...trial and error and mistakes.

When you get the selling down pact, marketing your web-
site won't be as difficult if you know jack about marketing.

Still, I say "just f**king do it".

I promise you, if you ask to many questions here about
what you want to do, you will get far more negative answers
than encouraging ones. And, many people who respond have
never successfully promoted and purchased websites before.

So rule #1, if your reading this...stop now and don't come
back to this forum UNTIL you purchased your first site. Than
come back to tweak and change a few things around.

I agree, be careful. If you have the money to invest, it can mean quick entry into online business. But make sure you do your research on the history of the site and then what it takes to run the site, and finally, what it would take to develop and expand the site/business.

I bought a website once (*unique* salespage and product) which was making sales. I primarily bought it because it was making sales - after about 4 weeks, I'd lost ALL interest in the niche and had no drive to develop the product beyond what it already was. I could have turned this into a real success because so much was being done wrong - instead, I sold it on, and almost immediately because there was a lot of potential. My mistake was that I was focused on the money, not my passion.

So, that's my advice. Do your research, make sure you have the capacity and funds to run and develop the site, and make sure you have a genuine interest in the niche.

If you are talking about buying assets, don't buy website but rather, buy a business. A website is just a tool or a platform. But a internet business is one which is generating cashflow because of a proven formula or a system.

And when you are going to buy business, it is about valuation. Valuation of the business - how much is it's cashflow, whether if it sustainable, how much growth potential it is, how much risk is involved.

If you are new to internet marketing or business, it is best that you don't buy first. Like what other warriors have said, there are so many scammers out there. It's easy to hype up the "potential" of a website easily and it takes a experienced marketer to distinguish a good deal or a bad deal.

Hope this helps!

Warmest Regards,
George Tee

The first reply is totally right. I currently have a client who is buying up 100's of sites and she literally has no idea what she is doing. She can't even use Fantastico to autoinstall Wordpress... She's paying me to help her through several rough patches, good and bad for me actually.

Good in that I'm making money but bad because well.. I'll go more in depth about her lack of knowledge. She gets frustrated when a web site doesn't do what she wants or isn't making money. She's told me before that she knows all her web sites are instant money makers. She buys them from DP with people showing "proof" of revenue.

But as I've tried to walk her through several of the ads where she has bought sites, the revenue could be coming from any where at any time. Several of them are, for Adsense, set at "All Time" and not showing any channels. Yet they are saying it's for this one website they are advertising. I haven't bothered looking through their old post or checking any new ones but I'm sure most of them have reused the image before... I've even stepped in and requested that one of them show us the channel for the website so we can see direct revenue from where and when. He refused claiming he didn't have time. Didn't have time to take 2-4 minutes to put my clients mind at ease.

Anyway, enough ranting. She has a very warped idea of making money and getting traffic. She truly believes that traffic will magically come to her websites. She has no idea what she is doing. And I've even offered to walk her through the most simple of processes (auto install, auto plugin installs) ect... and she won't. She says she'll just pay someone else to do it but from what else she has told me her income is limited.

She really needs to learn more. She has over 200 sites and is making $100/month on average. Yeah not bad but not good either. If she would utilize them better she would def. see more income. I've also suggested that we go through the 200+ sites to see where the revenue is directly coming from so we can work on improvements... again a refusal.

On Flippa, you can buy websites very cheaply even $20 they don't earn any income, nevertheless they can still be worthwhile. A site like this can be a good labour saving device, it can get you up and running faster, because the the site design is already done, you also get a domain name, and some articles already posted saving you quite a bit of work. You are leveraging someone else's efforts.

Of course at $20 the site would have minimal or no traffic and no income.

But you can then generate the traffic, and monetize the traffic.

Hey kea55,

It all comes down to this.

Unless you find someone who is willing to give up a successful and profitable website/business (...VERY VERY RARE. This would only happen if someone was looking to get out of the business completely as part of their exit strategy...) then you're going to be picking up an initial liability.

You'll then have to apply a rule.

Traffic + Conversions = Sales

Marketing.

This can turn a liability into an asset (...love Kiyosaki...)

But an Internet based "asset" (...if you can find any...) is going to cost you a lot of money.

Good luck in your search and I mean that sincerely.

Reach new heights,

Nathan

oh ok yeah I know about traffic. I own 2 of my own blogs that I deseigned myself. but they were a lot of work. I've made money from them, but I need to increase my realestate

Robert Kiyosaki is a legend in his own rights and
he is one of my mentors. I agree with him about
buying "ASSETS", but before you think of
buying websites, you should first MASTER how
to build highly profitable websites - that's what
will guide you in buying highly profitable websites,

Kingsey

Like in any other business, you need to understand the business you're getting into. It's not as simple as buying an already working website and to make money off it right away.

Last year I sold a website for $100,000. The site was making around $12,000 per month on average, but it was taking up too much of my time so I decided to cash it out and focus on other projects. Well, the guy who bought it knew nothing about the niche/market he was getting himself into... guess what happened? within 3 or 4 months the site had lost most of its value and I very much doubt he ever made his money back.

Moral of the story: know your business before you buy any business.

Rich Dad points out that on payday rich people buy assets that are proven to increase in value while poor people buy nicknack's and entertainment or gamble their earnings away on worthless things like a money sucking adsense/nosense website. If the website was actually producing good profits the owner would not want to sell that asset.

Rich Dad also points out that poor people buy money with time, while the rich buy time with money. Rich dad says that poor people don't create anything that they can sell to produce profits so they sell the one thing that they can never buy back... their time. But Rich people will pay others to create products that they can sell for profits... no or little of their time is required to clone hundreds of websites that they can then flog off to poor people.

Think about it.... are you a buyer or a seller?

Poor people think they can get rich buying things.

Rich people know they can get rich by selling things.

Are you looking for a dream to buy or are you creating and selling?

Wake up - Stop buying websites - Start building and selling websites.

The truth maybe a cold hard slap in the face - but the truth can set you free if
you wake up and accept it, then make the best of things.

I buy websites frequently, particularly cheap websites that are established but need a makeover and some fresh content to bring them back to life. It's always worked out well for me as far as flipping them for a profit later.

If you plan on keeping them yourself, try to find sites (perhaps on Flippa) where there is already a source of verifiable revenue. I normally keep mine long enough to get a revenue stream going before flipping them.

Kiyosaki's books work on many different levels.

The big theme that sometimes it would be easy to gloss over is when he talks about diversification. He works to counter the idea that diversification reduces risk as he is of the opinion it increases risk because it permits you to be ignorant about what you've put your money into.

His view is that money can be made in a down market or an up market if you know your business inside out and back to front. Once you your industry then you can spot an under valued asset and make money from it with your revised execution plan. Kiyosaki also explains what a big risk it is to jump into a money making model if you don't understand that model. His best example was his 'poor dad' i.e. his biological father. His story exaplins how his poor dad sunk all his money into a business he didn't really understand and how it basically finished him.

Before you jump in make sure you understand it. If you're intent in following the Kiyosaki method then work your way through the quadrant. Improve your financial intelligence in this area by understanding the key aspects o getting money making websites together. If you have to build them, then build them. From here you'll be able to learn to outsource components so you improve your $ return for your effort. That's you as the self employed part of the model.

Next think about how you get yourself to the business owner stage i.e. where someone does all of this for you and you pocket the main chunk of income.

Good luck

Andrew