House flipping is, essentially,buying a house or property with the intent to sell it for a profit. But the logistics can get pretty complicated. There are a lot of decisions to make from the beginning. Where should you buy? If you purchase a house in an up-and-coming neighborhood, you're banking on the neighborhood increasing in value. If you decide to buy in a new development, you'll want to attract higher-end home buyers who want the luxury features and space offered in the suburbs. If all goes well, you could make a nice profit. But if something goes wrong -- faulty budgeting, timing issues, a crime spike in that up-and-coming neighborhood -- you could be stuck with a house you can't get rid of.
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