As a result, flipping was frequently used both as a descriptive term for schemes involving market manipulation or other illegal conduct and as a derogatory term for legal real estate investing Ò€¦ Flipping refers to the quick buying and selling of an asset to earn a short-term profit. ItÒ€ℒs commonly used in financial markets, especially during initial public offerings (ipos), real estate transactions, or Ò€¦