There are other meanings that people talk about for flipping. Some talk about it as actually buying a property, then quickly rehabbing it to resell it. This is an option you can implement but there are also additional financial risks that can be a concern, particularly in down or lagging locations.
When we mention flipping, we are talking about tying up properties at a discount and then assigning (or flipping) them to another buyer for a fast profit. So when, So while we refer to Wholesaling real estate, we are basically referring to finding properties at a discount and assigning them cost effectively to another investor or rehabber; thus the term wholesaling. For more clarification on jargon, when you flip a property to another person, this just means you are transferring the right to them to close on the house directly from the seller.
After you get a property under contract, you will have control. Then you can assign it to another person at full price or for a flat fee so they can close on it. They take your place in the agreement, then take ownership of the home, handle fixing it up and either keep it or sell it to another person for a higher price.
Wholesaling houses is a great no issue system to create quick cash using little or no money or other financing techniques. Since you have neither of these limitations you can also do as a many as you want making flipping houses a good cash flow system especially once you have a steady system working for your business!
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