House flipping has always been a risky business. It takes patience, perserverance, market knowledge and sometimes just plain luck. That however has not stopped investors from flipping over 5,000 homes in 2013. To put that into perspective that's 40% more homes that were flipped in 2012 and 309% more than in 2011.
Prices are still attractive enough for hungry investors and with gross profits on the rise (average of $60,000 in Illinois), I don't think they will be stopping anytime soon.