"House flipping" refers to the process of buying cheap, run-down property, increasing its value (either by adding improvements or simply by waiting for the market to perk up), and then re-selling it for a profit. With smart choices and practical know-how with regards to home repair, you can stand to make thousands of dollars per flip, although unexpected expenses and a bad real estate market can leave you in the red.
Make sure you really understand the local market before investing in real estate, or you may lose money when you try to sell. Unless you have enough money to hire contractors to do all of the work for you, flipping real estate will require a tremendous amount of work. Even if you do hire others, you will likely need to supervise them. If you don't have the money to invest in real estate, there are lots of other things you can flip, including furniture and cars. Anything you can buy cheap, fix up yourself, and sell for a profit, can be flipped.