How to make a quick million...

This is a story of a house in my neighborhood that was put on the market last summer for $1.2 million and purchased for a bit less by a local contractor.

The guy did remodel the house over the winter and after some modest, mostly cosmetic updates, he is now putting it back on the market for about twice the price he paid for ($2,330,000!)

My guess is that – at the most - he might have invested $250,000 maximum into the home and now hopes to pocket the difference. Will this happen? I don't quite think so because the house and the area are more in the $1.5 million than the $2 million plus range.

Is he just greedy? Definitely, and most of the time that trait makes people blind to the most basic economic realities.