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Many investors turn to flipping properties for relatively quick profits during the real estate market's boom years. However, savvy investors realize that even as times change and markets fluctuate, there are always opportunities in every market to make money flipping properties.  

In the case of first-time homebuyers, purchasing a home can be a little overwhelming---especially since many of the foreclosures on the market today require more in-depth repairs before they can even move into the home. For example, painting is an easy fix ... replacing rotten flooring is not.

I feel confident in saying that most first-time homebuyers---and a high percentage of all buyers---prefer to have their new home "move-in" ready. So if you want your property to appeal to more prospective buyers, do all the necessary rehabs before showing the property. Then they can move into a home that is a somewhat "clean slate" and do small repairs or upgrades as they have the time-or funds-to do so.

Although it's possible to flip in any market, you must be more cautious about your profit margin in the current market. For example, in some areas of the country property values are still sinking, so make sure you take this into consideration when buying and rehabbing a property to flip. Your selling price for any property should include the total amount of money you put into the property---plus a nice profit. Remember: Don't go "over the top" on repairs and upgrades---keep the amenities consistent with other properties in the neighborhood.

Are other investors in your area flipping properties? Are you finding that these properties are selling more quickly?