What is the primary purpose of flipping a property?

The primary purpose of flipping a property is to sell it quickly. This strategy involves purchasing a property, often at a lower price due to its condition or perceived value, making necessary improvements or renovations, and then selling it at a higher price within a relatively short time frame. The goal is to generate a profit from the sale, capitalizing on the increase in value that comes from the improvements made to the property or from market trends.

Holding a property for a long term focuses on investment appreciation over time, which contrasts with the short-term nature of flipping. Renting it out is another investment strategy aimed at generating consistent income over time rather than a quick sale. Renovating extensively might be part of the flipping process, but the end goal is to sell quickly rather than emphasizing the renovation itself. Therefore, selling quickly captures the essence of flipping and aligns with the motivations behind this real estate strategy.