Understanding the various ways for Wholesaling Houses and Assigning Options
There are different definitions that people refer to for flipping. Some talk about it as actually paying for a property, then quickly rehabbing it to resell it. This is an option you can apply but there are also more financial risks that can be a concern, particularly in flat or lingering markets.
While we refer to flipping, we are talking about securing homes inexpensively and then assigning (or flipping) them to another buyer for a speedy profit. When we refer to real estate investing by wholesaling, we are basically discussing finding houses inexpensively and assigning them cost effectively to another person or rehabber; thus the term wholesaling. For additional details on terminology, when you assign a property to another rehabber, this just means you are providing the right to them to take ownership of the house directly from the seller.
After you get a property under contract, you will have control. Then you can flip it to another person at a higher price or for a flat fee so they can take ownership of it. They take your place in the option, then take ownership of the property, are responsible for renovating it and either keep it or sell it to an end buyer for retail price. This type of Real Estate Investment is a great no risk strategy to create quick cash using little or no cash or other lending techniques.
Since you have neither of these limitations you can also do as a many as you want making creative real estate investing a good cash flow system especially once you have a steady program working for your business!