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http://www.nytimes.com/2008/07/29/technology/29flip.html
Find an Undervalued Asset. Fix It Up. Flip It. (Now It's Web Sites, Not
Houses)By ABHA BHATTARAI
Dave Hermansen did not own a bird or a cage when he bought bird-cage.com, an
online store, for $1,800 three years ago. He simply saw a Web site that was
"very, very poorly done," and begged the owners to sell it to him. He then
redesigned the site, added advertising and drove up traffic. Last December,
he sold it for $173,000.
Mr. Hermansen, 30, is among the latest wave of entrepreneurs who, like the
day traders and real estate investors before them, are looking to make a lot
of money without much effort.
They use little more than home computers and free software to buy Web sites
that appeal to a small and specific niche. Then they fix up the sites with
hopes of reselling them for far more than they paid. . . . . "Of course,"
he added, "the eventual goal is to sell the site for a good chunk of money."
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