A lot of people watch those different flip this house episodes and they want to have their hand in the real estate investing bucket as well, but they don't know where to start.  As soon as they get an idea of what flipping house is they find from different sources that don't know exactly what a house flip, telling them that it is illegal.

There are legal ways to flip houses as well as illegal ways to flip houses.  If you want to legal quick turn houses then you need to learn how to stay within the law.  Whenever you buy a property with the intent to immediately it, then that is a flip.  That doesn't seem too gory but it can easily be turned into something that is horrible and it can hurt people.    When decide that you have found a property that will make a good investment you make sure you know the property value before and after you have it repaired.

Most of the investors that got into trouble flipping houses started by making shoddy repairs or they lied about repairs that were either improperly fixed or they didn't do anything to solve the problem.  They mislead buyers into buying houses that hadn't been properly fixed and at the same time lenders would tricked too.  It is a good idea to be certain you keep receipt of any repairs or repair work you have had done to a property that you plan on flipping.

If you plan on finding your own buyer, don't be the one to qualify them that is what the mortgage broker or bank is their form.  You can ask a few questions but the more you let the professionals do the more you will keep yourself out of harms way.  Also never stir the buyer to falsify any documents because that is what a lot of investors had done in the past and now they are lying down in club FED.

As long as you do things on the up and up then you don't have to worry about getting in trouble when you decide house flipping is for you.