Flipping new homes?

[Albert Mainja]

I was reading a real estate book that mentions a strategy of how investors can make a quick profit by putting down a deposit on a new home that a builder or developer hasn't even started, basically, making a reservation on the property in the hopes that when the house is complete or sooner, the market value will have risen to a point where they can make a quick profit by selling your stake before closing on the deal. Has anyone ever used such a strategy? If so, how much (%) did you have to put down and what are the major downsides to such a strategy?

[Albert Mainja]

thanks @Christopher Phillips for the feedback, i will check it out right away.