What Is House Flipping?

Video Transcript

"What is house flipping? Well, house flipping is the act of purchasing a house at a decreased price possibly because the house has some issues. These can be cosmetic issues. They can also be some pretty serious problems. When you flip a house and in this day in age, we see this on television quite a bit and so a lot of people have gotten into it. You are trying to purchase a house like I said at a decreased price and then do your own repairs to it whether that be your own handy work involved or hiring a contractor to do the work for you and then selling the house to make a profit on it and this can be a very lucrative thing. It can also be a very dangerous thing to get into. So, the person who is interested in doing this should certainly be wary and very cautious at the beginning of the process. The process can be very quick or can be long obviously depending on what needs to be done to the house and I would say most people that I come into contact with that ask these questions I tell them to get involved with a contractor right off the back and that will really save you time and will save you money in the long run and that's flipping a house."