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BOB Podcast Ep 013 – EmpireFlippers Founder Joe Magnotti Shares What First Time Website Buyers Should Know Before Investing

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In this podcast episode, we have Mr. Joe Magnotti who is the CEO and founder Of EmpireFlipper (EF), one of the most extensive website brokers online selling over $70M worth of websites. They are a 5000 Inc company three years in a row and have a multiple international business broker awards.

Since buying online is already a trend nowadays, Joe will talk about what first-time website buyers should know:

  • What is the biggest mistake you see buyers make?
  • What would you wish they do differently?
  • What does a right buyer usually look at first when they find a listing?
  • What do the most successful purchasers have in common?
  • What would be your top 3 tips for people wanting to start investing in websites?
  • What makes an attractive buyer to you guys?
  • What would be your top 3 DD tips for first timers?
  • What is the best thing for someone to do once they have bought their first business and just became the owner?

Learn more about Empire Flippers here:  https://empireflippers.com
Join and listen Buying Online Businesses FB group podcast listeners here

New Empire Flippers site:
– Can login and become a member
– There is a Watchlist
– You can Message the sellers directly
– Check deposits made and refunded
– $297 to list site

 

Episode Highlights:

0:00 – Intro
0:42 – Introduction to Joe Magnotti , CEO of the one of the largest website brokers online selling over $70 Million worth of websites, Empire Flippers.
07:03 – What is the biggest mistake you see buyers make?
08:07 – Importance of bankroll management & Criteria
12:01 – All risk is minimized by education
13:42 – Best purchases move towards and gravitate towards in their due diligence process
14:38 – Profitability. Profitable Profits.
16:54 – the dumbest thing to do is outsource your due diligence process to somebody and expect that they’re going to tell you everything that it’s perfect
24:35 – The more you can be creative, the more money you can actually make.
30:50 – How Empire Flippers was build that people could log into, do their due diligence on, and all the information would be sent via this custom platform.
36:34 – What would be the top three tips that they should be learning before they start buying websites?
38:59 – What would be your 3 tips of people wanting to start investing in websites, makes an attractive buyer, top 3 due diligence tips for first timers should be looking out?
43:12 – If a broker provides data, ask him how he got that data
48:46 – If you don’t listen to the experts, and you’re not willing to learn, it’s going to be very hard to get a deal done.
50:01 – Closing Remarks and How and where to contact Joe

 

Guest Info:

 

Joe Magnotti earned experiences in the field of Engineering and spent the 90’s at a start-up in San Francisco before changing his career and focusing on the mortgage business. Joe Magnotti is now the CEO and founder Of EmpireFlipper (EF), one of the most extensive website brokers online selling over $70M worth of websites.

 

Joe enjoys traveling, especially places around SouthEast Asia. In his free time, he plays sports like boxing, basketball, and poker.

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Comments (2)

  1. Hey Jaryd,

    I hate to be that guy, but you might want to correct a typo… Empire Flippers is an Inc. 5000 company… You are missing a zero, which is a big difference.
    Otherwise, I can’t wait for tomorrow morning to listen to this episode!

    1. Hey Goran,

      I actually thank you for being that guy, we need more people like you to hold each other accountable, I am all for it. I saw on their site a Inc 500 badge, this threw me. Thanks and I hope you are enjoying the episodes.

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