Richard Patey

@richardpatey

Want To Hack Wealth? Flip Websites Not Cryptos

Predictable asset value and revenue from a website

Over the last year I lost my focus.

Something gripped me like nothing has since online poker back in 2009 when I quit my job and had plans to go pro.

The Crypto Bug™ found me.

Before this happened I was happily making money through building up and selling online businesses (profit generating websites, not just domains).

I sold my first website on Empire Flippers back in the summer of 2016 and I bought my first Bitcoin with the proceeds. I knew nothing about blockchain technology back then, but my entrepreneurial friends were into it which was good enough for me.

For the next 9 months I continued working on my websites and listed and sold my 2nd online business Funnel Engine on FE International.

Then in March 2017 I refreshed my Coinbase balance and saw I was up 600%.

That blew my mind.

I’ve since spent the last 12 months going deep into understanding Bitcoin, blockchain and this whole new altcoin market.

I ended up buying 60 different altcoins at the end of November 2017 just before the market went nuts.

As an internet marketer, I’ve got used to following the money from niche to niche and I saw how much was being raised in ICOs and I wanted in.

I got involved in two different ICOs and learned how to best convert traffic into subscribers and subscribers into Telegram communities (the classic ICO Marketing Playbook). I even set up a Flipping Cryptos facebook group.

I actually managed to sell all of my 60 altcoins near the top of the market at the start of January, 3 days before it started its fall (win). But even though I took some profits into cash, I HODLd most of it in BTC through a 70% correction (fail).

Unpredictable asset value and no revenue from cryptos

How to flip websites as assets

Crypto is speculative butonline business is predictable.

Over this crazy crypto year I’ve actually made less money than if I were to just focus on flipping websites for profit (the topic of my Flipping Websites Podcast).

The multiples of online businesses have been rising.

If you can build a content website that earns just $1500 per month you can now flip it for $50k (a 33x monthly profit multiple).

Once you understand how search traffic works (the main traffic channel I focus on for my sites) and leverage SEO tools such as Ahrefs, it’s really not that hard to monetize the traffic you are building.

I focus on what’s called affiliate marketing, where you earn commissions by promoting other people’s products or offers using the best affiliate tracking software. This can be promoting software products or simply sending people to Amazon and earning 3–6% commissions through their Associates program. I ended up promoting software as an affiliate for a living after trying every different type of monetization.

I wrote a piece on website investing in terms of how to snowball a $100k investment into $1MM within three years through from just 3 website flips, holding these online assets for the shortest period of time.

As a hodler, my trading days are behind me. And I know that I will make more money and build real wealth over the next 12 months through focusing on building and flipping websites rather than praying for the next alt season.

As Steve Jobs says, focusing is about saying No:

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