I.e. he’s referencing gamblers who don’t understand, or care to understand, the fundamental rules of investing.

Buyer's that believe that $500 cash flow number are exactly the same as the gambler who expects a blackjack every hand.

House flippers are high stakes gamblers and winning and losing is just part of the game.

I've never known him to be much of a gambler type.

Sorry - I didn't realize you were a gambler.

I play the market all the time but I am young and far from wealthy so I'm a gambler and stick to options and go in and out very fast i have gone in and out of higher and lower tax brackets over night.... the market could crash this year and many say we are in for an earnings recession and in my view it could be any day bc if you just google S&P500 and look at the chart in max view you will see from as far back as it will show up up up up down down up up up up down down up up up up etc...... we are due for a major correction soon although i think markets will rally some more this year and this coming earnings will generally be poor but not as poor as predicted so the market will be looking good and the FED will raise rates at the end of the summer than yea after the holidays things will be super slow higher rates higher costs and with the oil prices and political movements more volatile than shares of tesla maybe yea a big crash and some people will lose it all while some people will be buying it all waiting for the next upswing its the cycle of life...Craziest thing i ever read about the stock market was that SEC halted trading on a bunch of medical marijuana stocks that were trading on the OTC market and i said WAIT WTF theres public pot corps lol i mean who would buy a medical marijuana stock... forget cooking the books what happens when the DEA burns the books so how does that work.... so aslong as there are people dumb enough to invest publicly in a company that is operating in a risky federally illegal business than yea the stock market can crash any day of the week for just about any reason...

Statistically speaking, that Royal Flush-winner is more likely to be someone unskilled than a professional gambler who plays the odds and loses 40% of the time.So now that we got that mini-segue about probability out of the way, I will agree that you're right to have skepticism.

@Ryan E. what you are suggesting about waiting till it appreciates to $800k is the kind of logic that contributed to a lot of people’s losses in the last RE crash and, for that matter, many losing gamblers.

Don't let that mindset over establish a foothold in your business practice.Losing money may occur and you need to overcome, but if you start with too much of a gambler's attitude, it will catch up with you.It sounds like you are making the right decision on this one.

Originally posted by David Beard:... much easier to just do O/O loans with wager earners.Yes, the gamblers are easier to lend to :)