DENVER -- While the rest of the housing market seems to continually plummet, some house flippers say the business of "fix and flips" is booming.

For 15 years, Don Holmes has been a residential contractor, but the home he is working on in Wheat Ridge is his first flip.

He bought it for $325,000, plans to invest four months hard labor and then sell it for close to $500,000.

"We're putting a lot of money into it, so I'm not sure this will be the most profitable venture I've ever been involved in, but it's something new and exciting," said Holmes.

Realtor Dave Taylor, with DenverFixAndFlip.com, said more and more people are expressing interest in house flipping.

"They watch the fix-and-flip shows and think 'Well, I can do this,'" said Taylor. "And I think once they get into it, they think, 'Well, maybe this isn't for me,' because there is a lot of risk involved."

While homes can be found at reduced prices, Taylor said getting financing has become more challenging, and then flippers need to know where to buy and what to do to the home.

His client, Mark McHugh, just finished flipping a home in the metro area, and he's hoping to fill a niche market by providing a separate living area in the basement.

The home has been on the market for two weeks.

"We've had a lot of interest. I'm still waiting on offers, but I'm very hopeful," said McHugh.

There is money to be made.

Louis Raskasky, an investor and flipper, has fixed and flipped four homes and said he's never lost money.

The catch, he said, is that after flippers buy, they must have a little cushion when it is time to sell in a tough market.

"It's going to be a problem. Hopefully, when you do your flip budget, you've allocated enough time and budgeted properly so that you can ride it out a little bit," he said.