Fix and Flip "Fix-N-Flip" Property
Fix'n'flip or fix and flip is real estate slang for a house bought below market value for a property in challenged condition, fixed up and then resold for profit "fix'n'flip or fix and flip". Often, the fix'n'flip is not in livable condition and the investor purchasing the fix and flip never occupies the house. The fix'n'flip is bought for short-term investment purposes only. The "flip" of fix'n'flip or fix and flip refers to business model of fixing it up and then the flip it back to sale. The fix'n'flip is a rapid change of ownership; there's also a phenomenon of buying a house cheap, just cleaning it out, and "flipping" it. This typically never happens. The fix and flip for people who want to do simple elbow grease into equity such as painting is more of a long term commitment. These fix'n'flip properties are potentially more of a return over a longer period of time such as a two or more years.