[mpcovcd]

There are two investment strategies when looking at a potential purchase either (1) buy and hold or (2) buy and flip. The value of a small project stems from its upside potential. At a high level it's important to consider the niche, growth potential (is there room to improve the website, position in market, etc), buyers personal experience, and quite importantly the current and historical traffic and revenue.

It's important to note there are rarely any websites where anyone can "buy it, let it go, it never needs anything, and you make more and more money, hoping one of these will really take off." I can't tell you the number of times a developer thinks this is true for their side project, overvalues it, and comes back a few years down the road telling me they are looking to sell but now with traffic and revenue 10x lower than what it used to be.