As a website seller, I've sold a lot of sites over the last few years. I sell websites on occasion mainly because it provides capital for other ventures, and its also a way to hedge against the volatility of Google traffic. Building sites up from scratch is fun and profitable, but if you have the capital, there's a lot of opportunities to buy an existing asset and leverage someone else's hard work into a quick return. Especially given how much time and energy it can take to build a quality site up from scratch. Lately, I've started venturing into the acquisition side of the website buying/selling game. I've made 2 acquisitions so far from Flippa within the last few months (please don't out the sites if you've seen the auctions): 1 content site for around 6k. Paid about 20X monthly revenue (made the seller an early BIN offer). Stable organic traffic over 4 years but basically all Google traffic. 1 classifieds site for around mid 5 figures. Over a decade old. Paid about 3X annual net revenue. Acquired with a partner. About 10% comes from referral traffic, 25ish from direct visitors and about 5% from adwords. There are a ton of ways to add value on this one, which I'll share once (if?) I start seeing results. Both sites drive most of their traffic from Google, but they weren't owned by SEOs. This isn't necessarily because I'm against buying sites owned by SEOs, but more because its easier to find extra value when you have an edge somewhere. Here's some of the criteria I'm using to identify opportunities for site acquisitions. Can I get a good passive ROI? Most online entrepreneurs don't look at websites like they're investments but when you think about it, if a site has been stable for years and you can acquire it for 2 times annual earnings, you can run it as a passive investment with an annual ROI of 50%. Its a riskier investment for sure and I personally wouldn't buy websites just to hold them passively, but its still a consideration. The valuations are usually lower than buying local brick and mortar businesses, and most brick and mortar small businesses can't just be acquired and run like passive investment. They can't be scaled as quickly either. Can I improve monetization? This is the easiest win - if you can buy a site at 25X monthly and increase revenue 50% right away, you effectively paid 16.6X instead. With the classifieds site for example, I saw a multiple opportunities to increase revenue with better monetization, so I was willing to pay more. Some easy wins here include: promoting affiliate offers, adding more ad units, split testing ad units etc. Or there might be opportunities to move up the value chain - I sold a site once where the buyer switched out my ads for lead gen. Can I leverage the domain authority? I.e. are there lots of relatively low competition keywords in the niche that I could rank for fairly easily because of the site's existing authority in the niche? If you have a PBN or a bunch of contributor accounts, then these assets can be combined with the site's existing niche authority to add value right away. If the site relies on search traffic, how reliable is the traffic? Is the backlink profile clean? Has it been consistent for at least 1 year? Is it reliant on a handful of keywords in position 1-2-3, or is it mostly longtail traffic trickling in? Has the site ever been penalized? Check SEMrush, see if there are any big drops matching big updates like Panda/Penguin. Is the traffic legit? Checking Google Analytics isn't enough. You need to cross reference the claimed traffic with tools like semrush and really understand were the traffic comes from. If you see traffic in Google Analytics but you don't really understand where its coming from - its likely bot traffic. Can the UX be improved to lower bounce rate/increase pageviews? Is the backlink profile clean? Does the site have some legitimate authority in the niche? This isn't required, but its worth paying a higher multiple for. The classifieds site I purchased had a bit of this - its still heavily reliant on Google but has a returning customer/reader base. I have enough projects going on that I probably won't make any acquisitions for awhile, but if I wanted to focus more on this, I would build a system to scrape and prospect for site acquisitions outside of Flippa or brokers. Its like real estate investors who mail out "we buy houses" flyers - if you actively prospect for acquisitions, you can find better deals. I'll pop in here once in awhile to update if I make another acquisition, or if something changes significantly with one of my existing purchases.