Fix and Flip

Fix and Flip is a real estate investment strategy where an investor purchases a property that needs repairs or updates, renovates it to increase its value, and then sells it for a profit. The goal is to buy low, renovate efficiently, and sell high, within a relatively short timeframe. Investors typically focus on properties in desirable locations and estimate renovation costs accurately to maximize returns. This approach requires knowledge of the housing market, construction, and budgeting, as successful flips can yield significant financial gains, but also involve risks if costs exceed expectations or market conditions change.