Find an Undervalued Asset. Fix It Up. Flip It. (Now It's Web Sites, Not Houses)

Find an Undervalued Asset. Fix It Up. Flip It. (Now It's Web Sites, Not Houses) - http://www.nytimes.com Avatar Posted by suzyQ under Strategy
From http://www.nytimes.com 5121 days ago
Made Hot by: on August 5, 2008 2:38 pm
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 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.





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