If you flip something you make a profit out of it.
Let's say you bought a 5-stick pack of gum for 25 cents and you sell every stick for 10 cents (giving you 50 cents) you just flipped the pack of gum.
I heard there was a show where people flip houses.
They buy some houses, fix them up then sell them for more than they paid.
So I guess you could flip anything, but when I hear someone say they flipped something I'm usually thinking about narcotics.
In the example, "pound" is probably a pound of chronic, cocaine, etc..
by JGuzmannn April 17, 2007
by mxjcmxjc July 10, 2008
by Voyaging August 27, 2012
by Light Joker September 19, 2004
by el em ay oh February 06, 2004
To pimp out, change or improve on - as said by the mentally stagnant Tim Westwood on Pimp My Ride UK:
by barnabyfarran March 16, 2007
The act of purchasing drugs (usually a larger quantity) and reselling the same amount for more money.
by DROC July 31, 2005