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

July 29, 2008

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.

By ABHA BHATTARAI

Full Story: http://www.nytimes.com/2008/07/29/technology/29flip.html?_r=1&oref=slogin