
Flipping Houses for Profit: Is it legit?

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Turn on the television--especially TLC, Discovery or HGTV--and you'll see people buying rundown houses, fixing them up, and selling them for big money. "Flip This House", "Flip That House" and "Property Ladder" are raking in big ratings. But is that for real?

Maybe. Maybe not. Some television shows have recently been given a black eye when documentation has shown that some of the "deals" on shows were not real deals after all. Some were outright fabrications.

But, you can make money buying these houses if you know what you are doing. First, you have to buy it at a steep discount...much steeper than you will find without hard work. Also remember that the tax burden on these is not insignificant...depending on where you live and what tax bracket you are in, you can expect to give half of your profit to Uncle Sam. And, of course, the contractors you use are key. Some know what they are doing, some do not. A bad contractor can cost you a lot of money. Rely on a knowledgeable real estate investor or realtor if you are a novice.

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State Map State Data Counties Cities City by County List Surrounding States

A
Ackley , Ackley (Hardin County), Ackworth, Adair, Adair (Guthrie County), Adel, Afton, Agency, Ainsworth, Akron, Albert City, Albia, Albion, Alburnett, Alden, Alexander, Algona, Alleman, Allerton, Allison, Alta, Alta Vista, Alton, Altoona, Alvord, Ames, Anamosa, Andover, Andrew, Anita, Ankeny, Anthon, Aplington, Arcadia, Archer, Aredale, Arion, Arispe, Arlington, Armstrong, Arnolds Park, Arthur, Asbury, Ashton, Aspinwall, Atalissa, Athelstan, Atkins, Atlantic, Auburn, Audubon, Aurelia, Aurora, Avoca, Ayrshire

B
Badger , Bagley, Baldwin, Balltown, Bancroft, Bankston, Barnes City, Barnes City (Poweshiek County), Barnum, Bassett, Batavia, Battle Creek, Baxter, Bayard, Beacon, Beaconsfield, Beaman, Beaver, Bedford, Belle Plaine, Bellevue, Belmond, Bennett, Benton, Berkley, Bernard, Bertram, Bettendorf, Bevington, Bevington (Warren County), Birmingham, Blairsburg, Blairstown, Blakesburg, Blanchard, Blencoe, Blockton, Bloomfield, Blue Grass, Bode, Bonaparte, Bondurant, Boone, Bouton, Boxholm, Boyden, Braddyville, Bradgate, Brandon, Brayton, Breda, Bridgewater, Brighton, Bristow, Britt, Bronson, Brooklyn, Brunsville, Buck Grove, Buckeye, Buffalo, Buffalo Center, Burlington, Burt, Bussey

C
Calamus , Callender, Calmar, Calumet, Camanche, Cambridge, Cantril, Carbon, Carlisle, Carlisle (Warren County), Carpenter, Carroll, Carson, Carter Lake, Cascade, Cascade (Jones County), Casey, Casey (Guthrie County), Castalia, Castana, Cedar Falls, Cedar Rapids, Center Junction, Center Point, Centerville, Central City, Centralia, Chariton, Charles City, Charlotte, Charter Oak, Chatsworth, Chelsea, Cherokee, Chester, Chillicothe, Churdan, Cincinnati, Clare, Clarence, Clarinda, Clarion, Clarksville, Clayton, Clear Lake, Clearfield, Clearfield (Taylor County), Cleghorn, Clemons, Clermont, Clinton, Clio, Clive, Clive (Polk County), Clutier, Coalville, Coburg, Coggon, Coin, Colesburg, Colfax, College Springs, Collins, Colo, Columbus City, Columbus Junction, Colwell, Conesville, Conrad, Conway, Coon Rapids, Coon Rapids (Guthrie County), Coppock, Coppock (Jefferson County), Coppock (Washington County), Coralville, Corning, Correctionville, Corwith, Corydon, Cotter, Coulter, Council Bluffs, Craig, Crawfordsville, Crescent, Cresco, Creston, Cromwell, Crystal Lake, Cumberland, Cumming, Curlew, Cushing, Cylinder

D
Dakota City , Dallas Center, Dana, Danbury, Danville, Davenport, Davis City, Dawson, Dayton, De Soto, De Witt, Decatur City, Decorah, Dedham, Deep River, Defiance, Delaware, Delhi, Delmar, Deloit, Delphos, Delta, Denison, Denver, Derby, Des Moines, Dexter, Diagonal, Dickens, Dike, Dixon, Dolliver, Donahue, Donnellson, Doon, Douds, Dougherty, Dow City, Dows, Dows (Wright County), Drakesville, Dubuque, Dumont, Duncombe, Dundee, Dunkerton, Dunlap, Durango, Durant, Durant (Muscatine County), Durant (Scott County), Dyersville, Dyersville (Dubuque County), Dysart

E
Eagle Grove , Earlham, Earling, Earlville, Early, East Peru, Eddyville, Eddyville (Monroe County), Eddyville (Wapello County), Edgewood, Edgewood (Delaware County), Elberon, Eldon, Eldora, Eldridge, Elgin, Elk Horn, Elk Run Heights, Elkader, Elkhart, Elkport, Elliott, Ellston, Ellsworth, Elma, Ely, Emerson, Emmetsburg, Epworth, Essex, Estherville, Evansdale, Everly, Exira, Exline

F
Fairbank , Fairbank (Fayette County), Fairfax, Fairfield, Farley, Farmersburg, Farmington, Farnhamville, Farnhamville (Webster County), Farragut, Fayette, Fenton, Ferguson, Fertile, Floris, Floyd, Fonda, Fontanelle, Forest City, Forest City (Winnebago County), Fort Atkinson, Fort Dodge, Fort Madison, Fostoria, Franklin, Fraser, Fredericksburg, Frederika, Fredonia, Fremont, Fruitland

G
Galt , Galva, Garber, Garden Grove, Garnavillo, Garner, Garrison, Garwin, Geneva, George, Gibson, Gilbert, Gilbertville, Gillett Grove, Gilman, Gilmore City, Gilmore City (Pocahontas County), Gladbrook, Glenwood, Glidden, Goldfield, Goodell, Goose Lake, Gowrie, Graettinger, Graf, Grafton, Grand Junction, Grand Mound, Grand River, Grandview, Granger, Grant, Granville, Gravity, Gray, Greeley, Greene, Greenfield, Greenville, Grimes, Grimes (Polk County), Grinnell, Griswold, Grundy Center, Gruver, Guernsey, Guthrie Center, Guttenberg

H
Halbur , Hamburg, Hamilton, Hampton, Hancock, Hanlontown, Hansell, Harcourt, Hardy, Harlan, Harper, Harpers Ferry, Harris, Hartford, Hartley, Hartwick, Harvey, Hastings, Havelock, Haverhill, Hawarden, Hawkeye, Hayesville, Hazleton, Hedrick, Henderson, Hepburn, Hiawatha, Hills, Hillsboro, Hinton, Holland, Holstein, Holy Cross, Hopkinton, Hornick, Hospers, Houghton, Hubbard, Hudson, Hull, Humboldt, Humeston, Huxley

I
Ida Grove , Imogene, Independence, Indianola, Inwood, Ionia, Iowa City, Iowa Falls, Ireton, Irwin

J
Jackson Junction , Jamaica, Janesville, Janesville (Bremer County), Jefferson, Jesup, Jewell Junction, Johnston, Joice, Jolley

K
Kalona , Kamrar, Kanawha, Kellerton, Kelley, Kellogg, Kensett, Kent, Keokuk, Keomah Village, Keosauqua, Keota, Keswick, Keystone, Kimballton, Kingsley, Kinross, Kirkman, Kirkville, Kiron, Klemme, Knierim, Knoxville

L
La Motte , La Porte City, Lacona, Ladora, Lake City, Lake Mills, Lake Park, Lake View, Lakeside, Lakota, Lambs Grove, Lamoni, Lamont, Lanesboro, Lansing, Larchwood, Larrabee, Latimer, Laurel, Laurens, Lawler, Lawton, Le Claire, Le Grand, Le Mars, Le Roy, Leando, Ledyard, Lehigh, Leighton, Leland, Lenox, Lenox (Taylor County), Leon, Lester, Letts, Lewis, Libertyville, Lidderdale, Lime Springs, Lincoln, Linden, Lineville, Linn Grove, Lisbon, Liscomb, Little Rock, Little Sioux, Littleport, Livermore, Lockridge, Logan, Lohrville, Lone Rock, Lone Tree, Long Grove, Lorimor, Lost Nation, Lovilia, Low Moor, Lowden, Lu Verne, Lu Verne (Kossuth County), Luana, Lucas, Luther, Luxemburg, Luzerne, Lynnville, Lytton, Lytton (Sac County)

M
Macedonia , Macksburg, Madrid, Magnolia, Malcom, Mallard, Maloy, Malvern, Manchester, Manilla, Manly, Manning, Manson, Mapleton, Maquoketa, Marathon, Marble Rock, Marcus, Marengo, Marion, Marne, Marquette, Marshalltown, Martelle, Martensdale, Martinsburg, Marysville, Mason City, Masonville, Massena, Matlock, Maurice, Maxwell, Maynard, Maysville, McCallsburg, McCausland, McClelland, McGregor, McIntire, Mechanicsville, Mediapolis, Melbourne, Melcher-Dallas, Melrose, Melvin, Menlo, Meriden, Merrill, Meservey, Middletown, Miles, Milford, Millersburg, Millerton, Millville, Milo, Milton, Minburn, Minden, Mingo, Missouri Valley, Mitchell, Mitchellville, Modale, Mondamin, Monmouth, Monona, Monroe, Montezuma, Monticello, Montour, Montrose, Moorhead, Moorland, Moravia, Morley, Morning Sun, Morrison, Moulton, Mount Auburn, Mount Ayr, Mount Pleasant, Mount Sterling, Mount Union, Mount Vernon, Moville, Murray, Muscatine, Mystic

N
Nashua , Nemaha, Neola, Nevada, New Albin, New Hampton, New Hartford, New Liberty, New London, New Market, New Providence, New Sharon, New Vienna, New Virginia, Newell, Newhall, Newton, Nichols, Nodaway, Nora Springs, Nora Springs (Floyd County), North Buena Vista, North English, North English (Keokuk County), North Liberty, North Washington, Northboro, Northwood, Norwalk, Norway, Numa

O
Oakland , Oakland Acres, Oakville, Ocheyedan, Odebolt, Oelwein, Ogden, Okoboji, Olds, Olin, Ollie, Onawa, Onslow, Orange City, Orchard, Orient, Orleans, Osage, Osceola, Oskaloosa, Ossian, Osterdock, Otho, Oto, Ottosen, Ottumwa, Owasa, Oxford, Oxford Junction, Oyens

P
Pacific Junction , Packwood, Palmer, Palo, Panama, Panora, Panorama Park, Park View, Parkersburg, Parnell, Paton, Patterson, Paullina, Pella, Peosta, Perry, Persia, Peterson, Pierson, Pilot Mound, Pioneer, Pisgah, Plainfield, Plano, Pleasant Hill, Pleasant Plain, Pleasanton, Pleasantville, Plover, Plymouth, Pocahontas, Polk City, Pomeroy, Popejoy, Portsmouth, Postville, Postville (Clayton County), Prairie City, Prairieburg, Prescott, Preston, Primghar, Princeton, Promise City, Protivin, Pulaski

Q
Quasqueton , Quimby

R
Radcliffe , Rake, Ralston, Ralston (Greene County), Randalia, Randall, Randolph, Rathbun, Raymond, Readlyn, Reasnor, Red Oak, Redding, Redfield, Reinbeck, Rembrandt, Remsen, Renwick, Rhodes, Riceville, Riceville (Mitchell County), Richland, Rickardsville, Ricketts, Ridgeway, Rinard, Ringsted, Rippey, Riverdale, Riverside, Riverton, Robins, Rock Falls, Rock Rapids, Rock Valley, Rockford, Rockwell, Rockwell City, Rodman, Rodney, Roland, Rolfe, Rome, Rose Hill, Rossie, Rowan, Rowley, Royal, Rudd, Runnells, Russell, Ruthven, Rutland, Ryan

S
Sabula , Sac City, Sageville, Salem, Salix, Sanborn, Sandyville, Saylorville, Scarville, Schaller, Schleswig, Scranton, Searsboro, Sergeant Bluff, Seymour, Shambaugh, Shannon City, Shannon City (Union County), Sharpsburg, Sheffield, Shelby, Shelby (Shelby County), Sheldahl, Sheldahl (Polk County), Sheldahl (Story County), Sheldon, Sheldon (Sioux County), Shell Rock, Shellsburg, Shenandoah, Shenandoah (Page County), Sherrill, Shueyville, Sibley, Sidney, Sigourney, Silver City, Sioux Center, Sioux City, Sioux Rapids, Slater, Sloan, Smithland, Soldier, Solon, Somers, South English, Spencer, Spillville, Spirit Lake, Spragueville, Spring Hill, Springbrook, Springville, St. Ansgar, St. Anthony, St. Charles, St. Donatus, St. Lucas, St. Marys, St. Olaf, St. Paul, Stacyville, Stanhope, Stanley, Stanley (Fayette County), Stanton, Stanwood, State Center, Steamboat Rock, Stockport, Stockton, Storm Lake, Story City, Stout, Stratford, Stratford (Webster County), Strawberry Point, Struble, Stuart, Stuart (Guthrie County), Sully, Sumner, Sumner (Fayette County), Superior, Sutherland, Swaledale, Swan, Swea City, Swisher

T
Tabor , Tabor (Mills County), Tama, Templeton, Tennant, Terril, Thayer, Thompson, Thor, Thornburg, Thornton, Thurman, Tiffin, Tingley, Tipton, Titonka, Toledo, Toronto, Traer, Treynor, Tripoli, Truesdale, Truro, Turin

U
Udell , Underwood, Union, Unionville, University Heights, University Park, Urbana, Urbandale, Urbandale (Polk County), Ute

V
Vail , Valeria, Van Horne, Van Meter, Van Wert, Varina, Vedic City, Ventura, Victor, Victor (Poweshiek County), Villisca, Vincent, Vining, Vinton, Volga

W
Wadena , Wahpeton, Walcott, Walcott (Scott County), Walford, Walford (Linn County), Walker, Wall Lake, Wallingford, Walnut, Wapello, Washington, Washta, Waterloo, Waterville, Waucoma, Waukee, Waukon, Waverly, Wayland, Webb, Webster, Webster City, Weldon, Wellman, Wellsburg, Welton, Wesley, West Bend, West Bend (Palo Alto County), West Branch, West Burlington, West Chester, West Des Moines, West Des Moines (Polk County), West Liberty, West Okoboji, West Point, West Union, Westfield, Westgate, Westphalia, Westside, Westwood, What Cheer, Wheatland, Whiting, Whittemore, Whitten, Willey, Williams, Williamsburg, Williamson, Wilton, Wilton (Muscatine County), Windsor Heights, Winfield, Winterset, Winthrop, Wiota, Woden, Woodbine, Woodburn, Woodward, Woolstock, Worthington, Wyoming

Y
Yale , Yetter, Yorktown

Z
Zearing , Zwingle, Zwingle (Jackson County)

Flipping Houses for Profit: Is it legit?

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