What is property flipping?
Property flipping is the process by which an investor purchases a home and then resells it at a higher price a short period of time later. For example, an investor buys a house in need of work for $250,000 in July, renovates the kitchen and bathrooms, and landscapes the yard at a cost of $50,000 and then resells the house two months later (the time it takes to make the renovations) for a price that is reflective of the market value. This is a legitimate business transaction and there are many in the real estate market that make an honest living flipping properties.
