A Few Things You Need to Know About PayPal

If you use any of the money making ideas that require online transactions e.g., eBay selling, freelancing, blogging, etc., then you need to have a means to accept payment online. And you need to be able to do this in a secure and easy-to-use fashion. Before you run off to invent your secure payment system, stop. That wheel has already been invented. And it has become a household name for people who buy or sell online. Yes, we are talking about Paypal.

PayPal has taken international business money exchange by storm. If you’ve purchased anything online in the past few years, chances are that you were offered the option to pay for your purchase using your PayPal account. If you want to make money online, you should consider creating a PayPal account so you can offer your customers the option to buy your products or services without ever touching a check or credit card.

Here are a few things you should know about this online payment juggernaut –

Accounts

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5 Critically Important Factors to Consider While Buying a Website

So you’ve decided to become a flipper, eh?  But of websites, not houses – awesome! That’s probably best, seeing that real estate has been going down the drain lately, and sawdust is messy. Still, just as in real estate, there are good buys and bad buys when you buy a website. Here are some factors you should consider when searching for a website for your flipping project.

What Do You Know?

Perhaps one of the most important considerations is you: your knowledge, your abilities, and your resources.

Are you an experienced web developer? Do you know how to code? If you know very little about web design, how much are you willing to learn and how long will it take you to learn it? What software do you already own, and how much can you afford to buy? Are you planning to outsource your content, or will you write your own?

There are no right or wrong answers to these questions. No matter what your initial ability, you can still pursue your money making ideas. [Read more…]

Flipping Websites for Fun and Profit

If you have seen HGTV, you are probably very familiar with the popular shows that revolve around flipping houses and commercial real estate. As appealing as real estate investments seem, they do require a huge upfront investment. Contracting skill, or the lack thereof, is another big issue. Add to that list – timelines, taxes, risk involved, stress and the fact that an empty house, however expertly renovated, produces no income; and you’ll see why house-flipping is not one of the most feasible money making ideas around.

So, what should enterprising youngsters with low budgets do? Flip virtual properties. Yes, you can flip virtual properties pretty much the same way as real properties. No, not in a “second life” sense, but real websites, blogs and forums. Just like real properties, you keep an eye out for a great deal on a good website which you then buy, “renovate,” and resell for a nice second income. Hammer-shy thumbs rejoice!

Prerequisites

Some of the basic prerequisites of website flipping are:

  • A computer with a good Internet connection, to handle new sites with all the bells and whistles. This is not one of the money making ideas that you can pursue at your public library.
  • A basic knowledge of how websites work, how they’re built, and webmaster skills. If you’re technically-minded, you may be able to pick this up from books and the Internet; if not, one or two computer classes at your local community college would be helpful. If you plan to upgrade the sites you purchase, you’ll need a higher level of skill.  In this enterprise, the more you know, the more successful you’ll be.
  • Cash. The amount is up to you; some websites sell for hundreds, others for higher amounts. Just be certain it’s money you can afford to lose. There’s a learning curve to website flipping and, as in any venture that relies on supply and demand, a certain element of risk.

Initial Investment

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