Bidding on my first website

Hi, I just wanted to share my experience in trying to own a piece of the net. My brother in-law got me interested just recently. Actually, he provided some useful info a couple years back and I didn't follow through. I kind of regret it now knowing what could have if I started earlier. Anyways, enough thinking of what could have been.

What I got me really excited was how much my brother-in-law made from selling one website (he got it for a few hundred dollars and sold it for over 6 figures)! Hey, I thought he can do it, I can too! The family didn't have a high regard for my brother in-law because he didn't have a job or anything and was still living at home (he's 30!). We all thought he was a slacker, but he built quite an ownership of websites (15+ at the last count). That's not bad for someone who hasn't finish college and never held a steady job!

I opened an account at www.Flippa.com (use to be called website market place I think) and started to doing some research. I made my first bid on a website just two weeks ago! Hey, I thought to myself, this is easy...just like Ebay! Actually, it's alot of work in trying to filter through all those listings and figure out which auctions are good to own (for the long term). At first, I focused on the revenue details, but as my brother-in-law reminded me, that it's the space you're in that matters the most (e.g. is it a fad, costs to entry, etc).

I made my first bid on a car info site, but got really concerned when checking out the stats through www.websiteoutlook.com and turns out that most of the traffic was from Pakistan!? The seller said there was some kind of mistake and not too worry about it. Anyways, I didn't win that site. The 2nd site I got interested was a site on designer hand bags. Hey, that would be cool! What every women wants...new handbag to carry everyday. I can't go wrong with that. Well, it was sold in a matter of days as I was wrestling with how much to bid and whether it was a good sector. Anyways, I moved on to another site that caught my eye. I can't say what it's since I'll still bidding on it! So, look for my next post on the outcome. My ultimate goal is to retire and not work by owning a whole bunch of website to replace my income. Hey, can't a guy dream!