Flipping has always been one of the fastest ways to make money in real estate. Real estate can allow an investor to make huge gains with little or no work, and if you do your research, real estate can be turned with ease back to market quickly. Flipping should be a strategy that is often used as part of your portfolio's cash generation strategy.
The key to purchasing a profitable flip is to know your market and your numbers. Timing & knowledge is everything when flipping.
Key Steps to Flipping:
Find distressed or undervalued properties
Off-market (pound the pavement, networking etc.)
Remodel with cosmetic changes
Renovate the property extensively
Marketing to sell
Knowledge of the market (pricing it appropriately, knowing what buyers are looking for)