Thanks in part to an episode of Will and Grace, there is a perception out in the general populous that the business venture you're embarking on ranks on the integrity scale right next to politics, TV preachers and used car sales. Ahhh... the "F-word"! Flipping! How dreadful!

In this book we use the term "flipping" every so often because the American lexicon has not decided what "flipping" means yet. Some say flipping is the illegal buying and selling of homes while others define flipping as a quick renovation and resale. We actually like the term "flipping" because there needs to be a term to define what we do. Renovating is too often confused with what a contractor does to your home when you need a new kitchen. Therefore we will use the two terms in this book. Please note however that when we refer to "flipping" we are referring to a short-term renovation of a home that we intend to sell as soon as renovation is complete. When we talk about "illegal flipping" or "unethical flipping" we mean just that — illegal and unethical.

We do nothing illegal. We renovate homes then sell them to make a profit. That's not unseemly, that's American! Seriously, there are folks out there who lack integrity and who are out only to turn a quick buck, no matter who they have to run over to do it. If you are one of these folks, don't read any farther. This book will be a waste of your time. In our program you're going to have to actually work for your profit!

What's the distinction between what we do and illegal or unethical flipping? It is fairly simple. Here are some of the basic differences:

Unethical (illegal) Flipping Out for a quick profit by any means Valuation and appraisal schemes and scams A fresh coat of paint covers a multitude of evils Quality: "You can't see it from my house" Are we benefiting our checkbook? Use people as means to an end Money matters Conspiracy among banks, appraisers and investors to deceive

What We Do Cognizant of the work involved and willing to do it Honest research on the market, and honest valuation of the product A fresh coat of paint after the real work is done Quality: "Our reputation matters" Are we benefiting the neighborhood? Develop relationships and you will get what you need from people who are glad to work with you Money matters, but so do relationships and integrity Honest use of money and honest appraisal of the home

From the start, C & W Renovations LLC's core values included honesty and valuing people. We also value neighborhoods, and we desire to see everyone benefit from our work, not just us.

Yes, you can make money simply turning homes over for a profit. But we believe that there are some things that are even more important than money. That is why we renovate and resell homes. And we think you will be happier in the long run if you do, too.

Is it legal to flip a home? Yes — just stay away from anything illegal or unethical.