What is a fix and flip?
For a purchased home to be considered a “flip,” the investor must buy it to fix it up and resell it quickly, usually within a few months. There is generally a fast turnaround time on these projects.
When searching for the right house, an investor will want to find a property with potential that can be updated with repairs and updates. After they complete work on the house, the investor will sell it for a higher price than they purchased, making a profit.
It is also possible to purchase a house, hold onto it for a few months, and then sell it without making updates for a higher price. This method is popular in housing markets with rapidly rising prices.
