![]() And in theory, the strategies for success are similarly simple - you want to buy low, fix up the property, and then sell high. Put simply, the process involves the purchase, renovation, and sale of a home for profit. ![]() Profits on home flipping have hit their highest rates since 2000, according to Attom Data Solutions' US Home Flipping Report, which looked at the third quarter of 2020. There's never been a better time to flip a house. That makeover, in 2010, launched the popular HGTV show "Flip or Flop" - and inspired Americans to try their hand at the potentially lucrative business of house flipping. They sold it for $169,000 for a profit of $34,000. He and his ex-wife, Christina Anstead, then spent $15,000 to renovate the fixer-upper in Santa Ana, California. Tarek El Moussa paid $115,000 for the first house he ever flipped, according to CNBC. Visit Business Insider's homepage for more stories.Read on for a comprehensive list of tips for flippers tackling any project, from their first to 50th.Entrepreneurs who are serial house flippers say the key steps are identifying the right property, mapping out a careful budget, planning an appropriate renovation and orchestrating a resale for the highest price.Business Insider sought out the best expert advice real-estate investors - or aspiring ones - can use to get started flipping houses.House flipping is a common strategy utilized by real-estate investors looking to buy, renovate, and sell a home for profit.Account icon An icon in the shape of a person's head and shoulders.
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