The exact definition of “Flipping” founded on Investopedia is: A type of real estate investment strategy in which an investor purchases properties with the goal of reselling them for a profit. Profit is generated either through the price appreciation that occurs as a result of a hot housing market and/or from renovations and capital improvements.
This trend made a return in 2016 with 6% of homes sales in the United States being a flip. From the above definition you can “flip” in two different ways but this time around buyers were adding value to the home instead of holding the home until the market improves.
This trend/ process can be great for some and not for others.
You must be willing to invest your time, money and appropriate due diligence in the purchase and all repairs. Flipping is an extremely risky business if not done appropriately, it is not always EASY money.
If done the RIGHT way the REWARD can be very high, want to know the right way? Call!