What are the differences between wholesaling and house flipping?
Hello BP, I was listening to a podcast about wholesaling today on bigger pockets and everything that he was saying involved buying a home adding value to it then selling it at its new value. How is this any different than buying and flipping houses?
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He either misspoke or you misunderstood him:
Wholesaling: Getting a property under contract and then assigning to an end buyer.
Whole-taling: Buying a property and then selling it on the MLS or other way. Eg, we wholetailed a property where showings were very difficult (which made it hard to assign), but once we closed, we did some landscaping and were able to put up a lockbox, put on the MLS, etc.
Flipping: Buying a property, renovating it and then putting it on the market and selling it.