Flip or Flop, Masters of Flip, Flipping Out, these are just a few of the tv shows dedicated to “flipping” houses. That there are so many, speaks to the popularity of the house flipping industry. However, while these shows do touch on some of the hiccups that come with house flipping; the reality is a lot more complicated and isn’t remedied over a commercial break. House flipping is essentially purchasing property with the sole intention of reselling for a profit. Generally, the property is purchased at a discounted price as a “fixer-upper” or a foreclosure. Here are some of the risks associated with flipping property: