Knowing the Time Tested Methods for Assigning Properties and Flipping Real Estate
There are different definitions that people mention for flipping. Some discuss it as actually buying a property, then quickly renovating it to resell it. This is a strategy you can implement but there are also a lot of other financial risks that can be an issue, particularly in down or declining markets.
So while we discuss flipping, we are talking about securing properties cost effectively and then assigning (or flipping) them to another buyer for a quick profit. While we discuss real estate wholesaling, we are basically talking about finding properties inexpensively and assigning them inexpensively to another investor or rehabber; thus the term wholesale. For additional details on jargon, when you flip a home to another individual, this just means you are providing the right to them to close on the property directly from the seller.
Once you get a property under contract, you will have control. Then you can assign it to another investor at full price or for a flat fee so they can take ownership of it. They take your place in the contract, then buy the house, handle renovating it and either keep it or sell it to another person for a higher price. A real estate system like the one developed by Matthew Sorensen for real estate investing is a great no risk way to create quick cash using little or no cash or other financing techniques.
Since you have neither of these limitations you can also do as a many as you want making real estate wholesaling a great cash flow option especially once you have a consistent revenue model working for your business!