Considerations

• There may not be a market for home flipping in your area; research before starting a house-flipping business to make sure it is viable. Also, there is not a guarantee that every flip is profitable.
  
  

Getting Started

• Before you get started, make sure you have a full understanding of equity and how it works. Having an open line of equity helps as well.
  
  

Potential for Profit

• "Buy low and sell high" is a good idea when flipping houses. The less you pay for the house and renovation costs, the more potential profit you can make.
  
  

Benefits

• By renovating a rundown home, you will make a profit if you can resell the house at a higher price. Also, this helps the community by keeping property values up.
  
  

Misconceptions

• One of the biggest misconceptions about house flipping is that it is easy money. Renovating a home is time-consuming, costly and may take mental and physical tolls.