Flipping, rehabbing, or rental residential real estate is a popular entrepreneurial activity, but I’ve always been more partial to digital real estate (websites). There are similarities in that anyone can enter the business as long as they are willing to learn quickly and put in the hours. Nobody gets a degree in “landlording”, just as nobody gets a degree in “digital marketing”. Everything is about results, not letters after names. Some own
You can now also buy and sell digital properties via online marketplaces. I often spend idle moments browsing the email newsletter of the biggest one,
Some people love to start websites from nothing and quickly sell them for $1,000 to $10,000. Others like to find a starter drop-shipping site or Amazon product with potential and improve it into a six-figure property. Others are just looking to build a portfolio of properties that creates a steady cashflow with minimal maintenance. The market is a lot more mature than when I was buying domains on small internet forums. Private equity funds and publicly-listed corporations are also increasingly in the game.
You should also know that digital properties are much more volatile in price. A condo in Manhattan, NY or a 4-plex in Portland, OR might double in price in the next 10 years, but it won’t go up 2,000% or drop by 95% either. They also vary widely in the ongoing work involved. Some require hardly any maintenance, while others require ongoing marketing campaigns and a team of independent contractors.
One of the pathways to wealth is to find an asset type that you have a passion for, instead of a consumer product. Some people get $1,000 and spend it on video games, a car modification, or some nice clothes. Others get a kick out of buying another share of BRK, JNJ, or VTI stock. Same for a downpayment toward a rental property, reinvesting into their own private business, or to improve or acquire a digital asset. You also end up increasing your knowledge in that industry, which is highly valuable on its own.
Disclosure: I did sign up to be an affiliate of Flippa, and will receive a commission if someone clicks and lists a site for sale, but not if you just sign up for an account to browse listings.
“The editorial content here is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone. This email may contain links through which we are compensated when you click on or are approved for offers.”
Copyright © 2019 MyMoneyBlog.com. All Rights Reserved. Do not re-syndicate without permission.