[jargonster]

Bought some website on Flippa for $1,500. Lost $1,500. Didn't do enough due diligence and the expected ROI was too good to be true (3 months instead of usually 10-12 months on this platform). The previous owner was making money from it but parts of the mechanism to make the business work turned out to be unethical.

I shut it down and it's a good lesson learnt: only spend time or money in a business you understand, and preferably that you build yourself. Since then I'm focusing on my startup (instaroid.sg) which is not passive at all but brings revenue on IP I own.