There are different definitions that people discuss for flipping. Some mention it as actually buying a property, then quickly repairing it to resell it. This is something you can apply but there are also more financial risks that can be an issue, particularly in flat or lagging real estate markets.
So while we mention flipping, we are talking about tying up homes cost effectively and then assigning (or flipping) them to another buyer for a quick profit. When we discuss Wholesaling real estate, we are basically talking about finding houses inexpensively and assigning them at a discount to another investor or rehabber; thus the term wholesale. For additional explanation on terminology, when you transfer a home to another rehabber, this just means you are offering the right to them to take ownership of the property directly from the property owner.
Once you get a home under contract, you will have control. Then you can pass it on to another individual at full price or for a flat fee so they can buy it. They take your place in the option, then close on the house, handle repairing it and either keep it or sell it to an end buyer for full price.
Wholesaling houses is a great no issue option to create quick profits using little or no credit or other banking techniques. Since you have neither of these limitations you can also do as a many as you want making flipping houses a good cash flow system especially once you have a steady program working for you!
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