Flipping is buying an under priced property and then quickly reselling it at market value. Homes are typically sold below value by uninformed sellers or those in distress (like job loss or foreclosure). Often a property is sold under market value because it is a “fixer upper”. Sometimes they require very little such as paint and carpet and other times they have mold, asbestos, or foundation issues. These inherently hold more risk and more work, and therefore often have substantial profits.

While there have been many seminars on the virtues of flipping, in reality, few people earn a profit from flipping and for all practical matters, once the market burst, flipping became a ‘dinosaur’, unused process.

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