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Buying website and rebuilding it

Nomad

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Some people like to buy existing website, instead of building from scratch, and redesign it to meet the taste. When you are buying website, you already have a functional website, you have content and probably also traffic or revenue. It cost money but it is easier to work on something that already exist rather than create something out of thin air. Have you done this?
 
It is certainly easier to manage things that already exist, but the new owner needs to know what to do with the content in hand, some people don't know and so they just waste money.
I do not think anyone would buy a website without knowing how to run it properly. But then I also understand priority change and people end up shutting down website.
 
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