Project: Mortgage Crushing Competition
Happy New Year guys!
Wishing 2017 will be great for you! I hope you haven’t broken your New Year’s resolutions yet, have you? If you have, no worries. The year is still young. You can always resolve to start your resolutions at this moment. There is no requirement that resolutions should only be made at the beginning of the year.
Last month, I came across a post by Jon Haver or Authority Website Income about a new challenge. He’s calling it the Mortgage Crushing Competition. You can check it out here.
Basically, the challenge is about building a website that can help to pay for your mortgage or rent. How would it feel to have a website that could pay for your rent or mortgage? I know that would definitely be a killer deal for me. I don’t know about you.
So, I’ll be participating in the Mortgage Crushing Competition. I have a habit of starting projects and not following them through. But this time, I plan to work my ass off and complete the project. Like Billy Murphy from Forever Jobless says, “There is no payday for a half-done idea”. I need a payday from this project. So, I’m ready to put in the blood, sweat and tears into it.
What’s the Goal?
The main goal of the Mortgage Crushing Competition is to create a site that can make some money to pay for your mortgage. But I’ll be doing it big. Doug from Niche Site Project is handling a site with a partner, where they aim to sell if for $500,000. The site’s been running for at least 2 years, I believe.
For me, my goal is not only to get the site to pay for a house (Won’t be paying mortgage), but ultimately to flip it for $1,000,000. Yes, I know that sound like a big deal. But it’s also possible. Just last year, Wirecutter was flipped for a cool $30,000,000 to the New York Times. So, what’s stopping me from flipping my site for a mere $1,000,000? Okay, enough with the zeros!
I know this is going to be a tough challenge. I mean, building an online asset worth a million dollars is quite something. The Wirecutter was years old when it was flipped. So, if I put in the work, I should be able to flip my site in about 2 to 3 years for $1m. Of course, when the money starts rolling it, I could even flip it for more if I invest back in the site to scale things up.
With this said, I’m up for the challenge.
I also came across Ankit, a user in Nichehacks Private Facebook group who wondered whether it would be possible for someone to make $1m from an online venture in one year. Members suggested that it was difficult but if he could try, then he would know. The result? Ankit is starting a venture where he hopes to make $1m in revenue by end of December, 2017. If he doesn’t hit this goal, he will be giving away all the profits to charity. You can read his post here.
Well, with Jon and Ankit to keep me in check, why not join the Mortgage Crushing Challenge/ Million Dollar Flipping Challenge?
And so here I am. I will be providing updates on what I will be doing from the start as much as I can. I will be providing short and long updates depending on what important steps or events may have happened with regards to my website. Apart from this, the updates will be made at least once a month.
One of the things I am resolving is to keep this website as whitehat as possible. This is important since my major aim is to flip it to a seller. Generally, when you have whitehat links, you can get a better price for your site. Since I aim to get the most bucks from this project, I will be keeping it white hat and grey hat.
In particular, I will not be using blog network links. I will only be using white hat links. These will mostly be niche relevant blog comments (not mass ScrapeBox comments) and guest posting.
I’m also starting everything from scratch. That is, I will get a domain that has not been previously registered and build the website there.
Are you holding a similar challenge or would like to get updates on my challenge? Do you think this challenge is reasonable? Let me know in the comments.