Looking to get a small Business loan to buy a local sports website, NO JOB, No Capital

12 years ago

Why would somebody sell a website which break evens in 3-4 months?

Thanks

Signature

Looking to hire a Content Marketing service?
Check out my thread - Get A FREE Sample Article!
GaiaQ.com (Content Marketing) || Aakshey.com (Strategic Consulting)

{{ DiscussionBoard.errors[6990829].message }}

freddyjrtips

12 years ago

My Advice is...

...don't waste your time buying a site like that - especially more than $2,000!

I have bought sites before (from flippa)
and they were a total failure for me... I spent about $1,500 or more..

So it was a bad investment.....of course it depends on what type of website you buy..

But in order to have a profitable website you need to learn how a website will make you money first!

I highly recommend you to - instead - invest in education about Internet Marketing...

That would be your first step!

Now...

You don't need to spend thousands of dollars to make money from a website!

You can make a lot of money with an already designed website and learn so much about Internet Marketing with less than $50 bucks a month!

That's how I make my money online and I have been the last 4 months - ever since I found a goldmine resource to make this happen...(I bought this wonderful & powerful website + training & resources)

Even if you know nothing about Internet Marketing....you can learn simple things today and implement them right away...just take action.

More than money ...

You need to take action!

I hope this can help you make a decision and the right decision....

Think about it before you spend that much money on a site you know nothing about!

Much Success!

Thanks
1 reply

{{ DiscussionBoard.errors[6990865].message }}

TravelerCEO

12 years ago

Originally Posted by freddyjrtips

My Advice is...

...don't waste your time buying a site like that - especially more than $2,000!

I have bought sites before (from flippa)
and they were a total failure for me... I spent about $1,500 or more..

So it was a bad investment.....of course it depends on what type of website you buy..

But in order to have a profitable website you need to learn how a website will make you money first!

I highly recommend you to - instead - invest in education about Internet Marketing...

That would be your first step!

Now...

You don't need to spend thousands of dollars to make money from a website!

You can make a lot of money with an already designed website and learn so much about Internet Marketing with less than $50 bucks a month!

That's how I make my money online and I have been the last 4 months - ever since I found a goldmine resource to make this happen...(I bought this wonderful & powerful website + training & resources)

Even if you know nothing about Internet Marketing....you can learn simple things today and implement them right away...just take action.

More than money ...

You need to take action!

I hope this can help you make a decision and the right decision....

Think about it before you spend that much money on a site you know nothing about!

Much Success!

Thanks for taking time to reply Fred. But i do know a few things about internet marketing etc. Also my partner knows all about that stuff. The site is progressively making income with local advertizing and with adsense alone. Sports is what i love, and i could commit the site 110%. Sure i could probably come up with my own site, but this business is already set and I'd like to take over since its for sale

Also this person that selling it lives around my area within 20minutes.

Thanks
1 reply

{{ DiscussionBoard.errors[6990915].message }}

freddyjrtips

12 years ago

Originally Posted by TravelerCEO

Thanks for taking time to reply Fred. But i do know a few things about internet marketing etc. Also my partner knows all about that stuff. The site is progressively making income with local advertizing and with adsense alone. Sports is what i love, and i could commit the site 110%. Sure i could probably come up with my own site, but this business is already set and I'd like to take over since its for sale

Also this person that selling it lives around my area within 20minutes.

You're welcome man!

Before you go ahead and buy a site like that...there are a lot of factors you need to check out:

Check the Alexa Rankings of the site. (this will tell you how much traffic a site gets)
Check its reputation with Google and the Search Engines (Page Rank & Backlinks)

These are pretty much the things that you should look into really closely...

Of course there are more things to look into but I don't want to make this post really long you know...

Look...

If you are going to spend about $5,000 - $10,000 on a website that will break you even in 2 to 3 months.... and then earn you a residual income of $4k to $6k every month....

You need to wait and don't rush things...

Because you can make way more than that in 3 months with way less money than $5k.

I can show you a way to spend less than $2k and start earning $30k a month in as little as 3 months...and that's too long considering that you have a lot of money to invest at the beginning.

..and the best part is that you can still be in the Sports Niche - it doesn't matter...

All you need is the right information and that's it.

If I had like $10k - $15k to start up an online business - I wouldn't buy a website that is already making money online ...because that would be a waste of money and time.

With that much money you can make so much money in a matter of days!

Is all about making your money make you more money and you need to learn that before you jump into the Online Business World -

If you are interested send me a msg n ill give you my contact details...

Save thousands of dollars by taking the right decision!

Thanks

{{ DiscussionBoard.errors[6991026].message }}

TravelerCEO

12 years ago

No clue. I just messaged the person with a bunch of questions. I asked his reserve price etc. And if its within our distance I'd like to purchase it. The website is something where i don't have to come up with on my own, just keeping adding fresh content etc..Just asking if a bank will lend out the loan or not, also if there is another way to get a loan from a (Non Bank)

Thanks
1 reply

{{ DiscussionBoard.errors[6990877].message }}

robg1

12 years ago

Originally Posted by TravelerCEO

No clue. I just messaged the person with a bunch of questions. I asked his reserve price etc. And if its within our distance I'd like to purchase it. The website is something where i don't have to come up with on my own, just keeping adding fresh content etc..Just asking if a bank will lend out the loan or not, also if there is another way to get a loan from a (Non Bank)

If I was you, I would heed the advice given and think very carefully before putting yourself into debt.

Thanks

{{ DiscussionBoard.errors[6990898].message }}

Cali16

12 years ago

Originally Posted by TravelerCEO

I just need the capital to start which would probably be around $10,000-$15,000. I'm 22 and i lost my job around 6months ago so i don't have money to invest, but this is such a great opportunity to take on and is something that'll enjoy doing.

- Ive never have owned a Business or Website
- No money to invest atm
- I've ever gotten a loan before

If i can persuade the bank that i could generate the money coming in every month, would it convince them to lend out that loan? Furthermore i feel as if this is a low risk for the Bank..

I could be wrong, but I highly doubt you'll be able to get a small business loan for this. Just because YOU see it as a "sure thing", the bank is not likely to see it that way. You would be a very high risk to them because you have no income. You also have no experience in this area. If your partner is the one with the experience, then perhaps he is the one who should be applying for the small business loan.

Right now, I think you're seeing $$$ that may not materialize as you hope if you do find a way to buy this site. Have you asked the seller why he is selling a site that allegedly makes $2k to $6k per month?

Personally, I think you'd be making a huge mistake going into debt to the tune of $10,000 to $15,000 for this website when you have no personal experience and no current income. I do sincerely wish you the best with whatever direction you take, but doubt you'll be able to convince any bank to give you a loan.

[ 1 ] Thanks

Signature

If you don't face your fears, the only thing you'll ever see is what's in your comfort zone. ~Anne McClain, astronaut

{{ DiscussionBoard.errors[6991568].message }}

sbucciarel

Banned 12 years ago

Haven't had a job for 6 months, no income, no experience with online business ... I sort of doubt that a bank will loan you the money.

Thanks

{{ DiscussionBoard.errors[6991788].message }}

Tsnyder

12 years ago

Bank loan... not gonna happen. There is nothing about this
that is low risk for the bank. But, instead of asking us if the
bank will make a loan for this venture why aren't you asking
the bank?

Thanks

Signature

If you knew what I know you'd be doing what I do...

{{ DiscussionBoard.errors[6991844].message }}

TheBlindMarketer

12 years ago

Be very, very careful dude. Buying websites like this, when you aren't experienced can be very tricky, firstly, you really need to have an independant evaluation of the website done, and the only way the bank would even consider giving you a loan for such a large amount on a whim, is if you were to work with the currennt owner of the website, to produce a fully fledged business plan, proving the last 12 (minimum) traffic stats, marketing strategies, profit, costs, and future 12-56 month plans and cash projections, marketing plan, etc. There's much easier and less costly ways to start an online business mate, be very careful and think about things extremely thoroughly.

[ 1 ] Thanks

{{ DiscussionBoard.errors[6991943].message }}

AlexR

12 years ago

I can guarantee that the bank won't even talk to you unless you have a well drafted business plan to show them. The business plan will prove or disprove that your idea is viable. The bank is not interested in your gut feeling, they require proof that there is a GOOD chance that your idea will work.

Alex

[ 1 ] Thanks

Signature

Sig released on parole.

{{ DiscussionBoard.errors[6991983].message }}

Jerimiahgunn

12 years ago

Just keep in mind that life works in cycles you have to crawl before you can walk. In other words start small and learn the business first and then move up to the big spending.

Thanks

{{ DiscussionBoard.errors[6992046].message }}

TravelerCEO

12 years ago

Thanks for all the responses guys! I didn't know what went into my head that i could get a loan for that much. I'm still trying to get all the correct info together. I could possibly get my dad to get the loan for me if the site doesn't turn out to be expensive. Also i was so eager to by this site because it something I use to frequent all the time back in high school and now that i saw that it was for sale i just wanted to jump on it.

If anything i think the best thing to do is start my website from ground up

Thanks

{{ DiscussionBoard.errors[6992349].message }}

Randall Magwood

12 years ago

Don't get a loan. Supposed your venture fails. How you gonna pay the money back?

Find a cheap ole job and use those funds to fuel your NICHE internet business.

Thanks

Signature

==>> Free book reveals make money with affiliate marketing

{{ DiscussionBoard.errors[6992458].message }}

Looking to get a small Business loan to buy a local sports website, NO JOB, No Capital

Trending Topics

Been a while! Any of you Old Timers here?

How much does the rebranding affect CR ?

Are billboards still effective in driving customers?

Boat and Jet Ski Rentals...... Door Hangers Effective?

Clickbank low cost recurring