[I still care]

Have you seen all those TV shows on "Flip this house" etc?

The public is under the impression that if you want to make money, and you are handy, buying and selling a house is almost a sure thing. They are showing people on these shows making 30 or 40 grand for a month's work.

Lots of amateurs getting involved. Professionals know the ins and outs of the market, are usually prepared on what to expect and have a cushion in the bank or enough committed rental properties to see them through.

A guy bought my old house last August for about 10000 undermarket, and put in around 10. He's been trying to sell it since November for 30000 more. I've been watching....

[Pessimist]

A guy I know at the local watering hole matches the type of person you describe completely. He's never been involved in contracting and isn't even handy with such things, but he somehow got the idea he could buy a lot, have a house built, and make a bunch of easy $.

Surprise surpise, the more he gets into it, the worse its looking. This "deal" has been going on for about a year now and they haven't even broken ground yet. And all this in the free falling economy of the Cleveland Ohio area.