What is flipping? This is where you buy a house that needs a bit of fixing and you get it at a lower price. You fix it up and in a month or so you put it up for sale. Flipping houses is for pure profit, nothing else. It will be a lot of hard work. You buy houses that need fixing up and you put in a lot of time and sweat. Then it is time to sell. There are times it will not sell and then you will have the option of renting or leasing it. Then maybe down the line it will sell.

Many people get into flipping houses because they work for themselves and all the profits stay put. You do not have to pay anyone else unless you have a partner. If this is the type of business you want to get into then it can be most rewarding.

One thing you do not have to worry about with a flip gone wrong is that you can always win in the end. You do not lose anything just take a smaller hit on the profits if you cannot do an outright flip. Rent or leasing gives you profit, just not as much as if you flipped it right away.