I came across Corporation Brokers. They promised to get me at least $50,000 of unsecured credit within a short period of time. With or without a personal gurantee!
So my awesome credit does not matter! They will help me get a corporation to pull it off. I did some research and everything looks legit. (I don’t want to do any more shady loans).
Almost seems too good to be true. Here is the corporate credit presentation from their marketing DVD:
Main Presentation on Corporate Credit
Corporate Credit for Real Estate Investors
I’m still waiting for some references and I want to see a copy of the contract / applications before I move forward. Although, this corporate credit thing seems solid enough to where I’m pretty much ready to try it… unless something major comes up.
I can definitely use a few corporate credit lines to refinance my unsecured debt and catchup my mortgages. This way I can stop foreclosure, avoid bankruptcy and have more time to sell/lease the houses.
Or… I can just have the corporation pay-off my wife’s portion of the debt (about $30K which was mostly used for business expenses). She will be very happy that I kept my promise and preserved her credit.
I can use the rest of the corporate credit to do sweet real estate deals and/or other opportunities that would help me dig out of this foreclosure mess. This may be my ticket!
Any thoughts?
Back in Phoenix
Utah House Still Wrapped, Sort Of
212 Comments
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Sippin on Jin and Jamaba Juice
December 11th, 2006 at 7:18 am
Everytime I run across the phrase “sweet deals” or some incarnation of it I have to laugh…
Anyways there are few lenders out there who lend money out of the kindness of their hearts. The ones that promise you a loan regardless of your credit usually have an angle, which is usually real high interest rates. If you take this and it goes south like your other deals you’ll be in even worse shape than before.
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JTR
December 11th, 2006 at 7:21 am
So….how many folks in Casey’s fan club are going to go to Corporate Broker’s website and warn them that hurricane Casey is about to touch down????
Thanks for the tip Casey!
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kpom
December 11th, 2006 at 7:22 am
How do you short Corporation Brokers stock?
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FuturesTrader
December 11th, 2006 at 7:22 am
This is a blatant troll.
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The Trailer Park Boys
December 11th, 2006 at 7:24 am
Man thats great!!!!!!
We can sure use that.
Julian
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69mandingo
December 11th, 2006 at 7:26 am
why stop at 50 grand? fok it. take down 250k in sweet corporate credit and get yourself caught up across the board. then you can re-focus on the sweet sweetness of sweet deals. btw will you see the prbizslut in ariz? does mrs casey know that you will see her?
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The Unwelcome Guest
December 11th, 2006 at 7:39 am
Any thoughts?
Just the one.
“You are certifiable mate.”
I don’t understand why they are letting you out unsupervised in public.
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Unbelievable
December 11th, 2006 at 7:43 am
You’re kidding right ?
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Cara
December 11th, 2006 at 7:46 am
Thoughts? Why do you ask?
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MrReality
December 11th, 2006 at 7:49 am
Bright Idea! You’re trying to get out of debt by getting into more debts. How are you going to pay these new debts or are you just trying to delay the inevitable. You may not know it yet, but you and your wife are already screwed. You’re just digging yourself deeper into debt. You’re just trying one scam after another. I hope you don’t end up in jail. The questions you should ask yourself is, Is it better to be bankrupt or sitting in Jail? Good Luck with your scams.
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fool
December 11th, 2006 at 7:51 am
CASEY IS A BIG FOOL AGAIN, hahahahaa
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Anon4
December 11th, 2006 at 7:54 am
This sounds like a very excellent idea. Please try it and let us know how it works.
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Stephanie J
December 11th, 2006 at 7:54 am
>:|
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Soup Nazi
December 11th, 2006 at 7:54 am
“This may be my ticket!”
“Any thoughts?”
Aye, Carumba!
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Count Yourblessings
December 11th, 2006 at 7:56 am
I see. You want to start a corporation that will borrow some money to buy your properties and pay off your unsecured debt. If it was that easy to get out from under personal debt I’m sure millions of deadbeats would be doing it.
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Lurker No More
December 11th, 2006 at 7:56 am
Goodness gracious. At least it sounds like you are taking at least some time to think this one through.
“Almost seems too good to be true. ”
When it seems too good to be true it usually is. But I guess when you are looking at $2 mil in debt and possible bankruptcy, another $50k in the hole isn’t really a big deal. Good luck and I hope you emerge from this with your knees unbroken.
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Unbelievable
December 11th, 2006 at 7:58 am
Why do you continue to ask us for “our thoughts” ? Plenty of people have given you sound advice and you thumb your nose at them. Do you ask for advice so that you can do the exact opposite of whatever is suggested ? Enlighten me please !!
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Sprezzatura
December 11th, 2006 at 8:01 am
Those Corporation Brokers are a scam, Casey. Their big “product” isn’t an actual loan, it’s a $4,000 package of DVDs, lists and information that they probably culled straight off the internet, and “companion” audio CDs.
Still, I would not be surprised if you fell for it. That is exactly the kind of BS you seem to love.
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Kevin Mason
December 11th, 2006 at 8:04 am
Casey,
What are describing will just get you in to deeper trouble if you manage to pull off getting more loans. When creditors come after you, it will be easy to prove that you have “pierced the corporate veil.” Your use for a corporation is no more than an attempt to get out of personal debt. Creditors will easily come after you personally. You will just be introduced to more woes and you will most likely be breaking more laws.
-Chris
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Sometimes, you just can’t look away. » And a Friday Open Thread
December 11th, 2006 at 8:07 am
Kramer auto Pingback[…] Oh goody, it looks like Casey’s found someone to lend him $50,000. I hope he blogs about getting his kneecaps drilled out by Guido in a few months. […]
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Wishful Thinker
December 11th, 2006 at 8:08 am
SEWEEETTT!
Looks great. I say “go for it!”
Platinum level is $3,995.00
Gold level is $1995.00
You can charge it on a credit card. Don’t be penny wise and pound foolish, go for the Platinum. Should be a tax deductable business expense too so how can you loose.
This is great news. Now you can get back in the game! Just in time too as there’s plenty of inventory out there for the experienced RE investor just ripe for the picking.
Problems solved.
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Andrew
December 11th, 2006 at 8:10 am
Sounds like they want ~$2500 for little more than a DIY manual telling the buyer how to find places that’ll lend $500 at 36% APR until the borrower get to the $50k mark. This is definitely NOT a lending operation (judging by the shortage of typical disclosures that real lenders are required to post).
Here’s the description off the website for everyone else’s convenience.
“Platinum Package Platinum
Manual – 160 pages of detailed information and instructions to building Corporate Credit from scratch. The manual is divided into three sections (Before You Begin, Starter Credit, Advanced Credit). The manual contains all the necessary forms, documents, phone numbers and addresses needed to build unlimited amounts of Corporate Credit.
Companion Audio CDs – Three audio CDs that flow with the contents in the manual. This is another method of learning the contents in the manual. You can listen to the CDs at your own leisure.
DVDs – Three DVDs that flow with the contents in the manual. This is yet another method of learning all the contents provided to you in the manual. You can view the DVDs at your own leisure.
Business Resources Guide – A Packet filled with useful information. This guide will give you names, phone numbers and contacts to a variety of companies who will help guide you with the Credit Building process. Whether it’s a list of banks, or incorporating services, you will have everything you need at your convenience.
Business Resources CD – All the necessary forms: Resolutions, Minutes of Meetings and Legal Forms needed to operate your business and build Corporate Credit.
Corporate Credit Coach (good for 12 months) – A Corporate Agent will be your mentor/ coach who will walk you through the process for one full year (12 Mos). They will guide, assist and walk you through the whole process from A-Z. The Corporate Agent will make sure that you are on track with the program. You will not only learn the program, but the Corporate Agent will pretty much do the work for you.
Credit Monitoring Services - We will monitor and correct any discrepancies that may appear on your company’s business bureaus. We will be on top of your company’s credit profile with Dun & Bradstreet and Corporate Experian.
Instant $2500 trade reporting to both Dun & Bradstreet and Business Experian.
$50,000 guaranteed cash credit”
Go ahead and try it. If that outfit is good, there are other borrowers who may appreciate it. If not, $2500 is a mere drop in the bucket compared to your total debt. If you are determined to hit the distant brick wall at 100mph without wearing a helmet, there is little additional harm in hitting it at 250mph instead.
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T
December 11th, 2006 at 8:12 am
Ooh, flamebait!
Is it legal to have a corporation assume personal (credit card) debt? Or only the debt you incurred in flipping the houses?
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El (hater)
December 11th, 2006 at 8:14 am
I see you have to pay them $4000 to get that line of credit. This seems totally legit, I strongly suggest you go for it!
You’ve been trolling for the past week. I guess you’re trying to get this blog to the point where it makes you some real money. Unlike most of the idiots on this blog who claim you make thousands from the adsense ads, I’ve got some experience with running websites, and I know how difficult it is to make serious money from ads on a site. (Before that bubble burst though, the money would roll in easy as pie!) But you’re overplaying your hand. You’re starting to “loose” people.
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Aelfscine
December 11th, 2006 at 8:16 am
FOR GOD’S SAKE, no more ’sweet deals!’
These guys look fairly scammy, and even if for some unholy reason they give you $50,000, if you use it on ‘deals’ it will just be gone, most likely to plunge you even deeper into debt.
You’re in badly enough that even if you declare BK, it will cost you money. You need to talk to a legitimate lawyer.
Not some ‘Rich Dad’s friend,’ you need someone who knows nothing about you and won’t try and screw you over. If you used that 50k to pay for legal advice and to fund the proceedings necessary, you’d probably have cash left over to pay for the most vicious of the small debts.
As others have said, your wife’s credit is hosed. You might be able to pay off her debt, but you can’t save her score with the foreclosure, defaults, and so forth. She’s got an ugly seven years ahead of her financially, but honestly, $30k isn’t the end of the world for her. I racked up nearly that going to grad school, although I’m sure my terms of repayment will be much more friendly.
In any case, Corporation Brokers look shady, but I suppose the door is closed for legitimate business at this point. And a lot of it is too late anyway. People make LLC’s so that when business goes south, angry creditors have to sue the company rather than you. Whoops!
Plus, here’s a good Scam Detection Rule: If you have to give them money first before they give you any, it’s a scam. All those ‘work from home’ things where you send in $25 for a ‘kit?’ All that is is “Send Us $25, and then you don’t get any money.’ But with these guys, you’re going to give them two thousand dollars minimum, possibly three if you go for the ‘platinum plan.’ And then you won’t get any money. Trust me, they’ll find a reason, and it won’t manifest until that $2-3k is safely in their hands.
I know all this is falling on deaf ears (or possibly the ears of the 45-year-old fat man in Marketing that actually writes this blog), but you can pretty much rest assured that the majority of people, spacemen, and cats on this blog will tell you this is a stupid idea. And as angry and hateful as they all may seem, I think you’d be surprised how agreeable they became if you put up an idea that had an ounce of sense.
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Sam
December 11th, 2006 at 8:19 am
Please tell us what Homey Da Clown is talking about, or do you have something to hide.
I mean most people that know anything about real estata, will know you are hiding MANY things!
let’s see if you allow this comment!
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zek
December 11th, 2006 at 8:21 am
Put down the crack pipe Casey. This phase of the game has been over for some time now. I still think you need become a motivational speaker (after you get out of jail).
I came across Corporation Brokers. They promised to get me at least $50,000 of unsecured credit within a short period of time. With or without a personal gurantee!
Or… I can just have the corporation pay-off my wife’s portion of the debt (about $30K). She will be very happy that I kept my promise and preserved her credit.
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Nona
December 11th, 2006 at 8:21 am
“I could be bounded up in a nutshell, and count myself king of infinite space…”
Sounds like you, doesn’t it, Casey?
“…were it not that I have bad dreams.”
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Roberto
December 11th, 2006 at 8:25 am
Casey,
Please ensure that you can handle the term of this loan before committing to it. Please do some research and have someone scrutinize the contract.
thanks,
R
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Landlord Shmandlord
December 11th, 2006 at 8:28 am
Be careful to make sure that you incorporate properly. If you don’t, it’s possible that the corporate shield will not protect you from civil and/or criminal liabilities. Also, if it is clear that you’re setting up a corporation to escape debt, then you may not be protected by the corporation from debtors or lawsuits.
Just remember that you’re reshuffling debt, not getting out of it.
Good luck,
- Shmandlord
http://www.landlordshmandlord.com
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Steven
December 11th, 2006 at 8:29 am
This blog isn’t even entertaining or interesting anymore. Casey you’re pathetic.
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Rob P
December 11th, 2006 at 8:30 am
hahahahahahahah…..
FYI, Casey: I have never clicked through on any of your ads. Never have, never will.
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Robert Coté
December 11th, 2006 at 8:34 am
Almost forgot to check-in for my early riser thing. I actually never went to bed last night.
“Early to bed and early to rise / Makes a man healthy, wealthy, and wise.” - Franklin
“Never to bed and never wise / Makes a man Casey Serin.”
Fonzie has jumped to shark. Nothing left to see, move along.
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Kevin
December 11th, 2006 at 8:35 am
Hi Casey,
The “get $50,000 in unsecured credit” is a common ploy. Check these out:
http://www.corp95.com/credit.htm
http://www.powerhomebiz.com/gu.....tonach.htm
I would suggest not spending any money on that seminar (unless it is too late). Of course, that is just my personal opinion.
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Chris Johnson
December 11th, 2006 at 8:37 am
Wow. I’m shaking my head, and thinking you really deserve all the bad stuff that’s coming your way, if only to reaaaaaaaaaaaaaaaaaaaaaaaaally learn from it. And I’m sure you still think we “inside the box” losers are just not as smart and street savvy as you are. Go ahead, pay your money to get the “free” money. Wow.
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FrugalTrader
December 11th, 2006 at 8:40 am
Casey,
If it seems too good to be true then it usually is… tread carefully.
FrugalTrader
http://www.MillionDollarJourney.com
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SCapitalist
December 11th, 2006 at 8:41 am
This late in the game, you are faced with a catch 22. Do you borrow more money, essentially digging your hole deeper, in the hopes of finalizing your deals? Or do you throw in the towel and declare BK to end the madness? Tough decision, and many readers would recommend the later.
The lenders willing to give your corporation an additional line of credit must have some very liberal lending policies. Your balance sheet must look terrifying. We will see what they say…
My one piece of advice would be NOT to use the corporate credit for any additonal “sweet deals”. You already have more “sweet deals” then you can handle. Fix you problems before creating new ones.
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Horatio
December 11th, 2006 at 8:42 am
Casey, Why are you trying to stop foreclosure? Just let the banks have the properties and walk away. Time is too short to spend it getting deeper in debt. Why not start a “real” business and get back in “the game” when you’ve saved some “your own money” for investing?
Just let the bastards have their over-price properties from these reckless loans they gave you and teach them a lesson!
H
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Roberto
December 11th, 2006 at 8:42 am
Something weird about the Corporate Broker website. They list their product as CDs, Audio Tapes and DVDs. What are they really selling?
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Gustavia
December 11th, 2006 at 8:44 am
After reading all this for months, there seems to be only one thing Casey is really good at.
Borrowing money.
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Reno
December 11th, 2006 at 8:47 am
You just don’t get it. I own a corporation that I formed and it’s not as easy as you think. But go ahead and try it! Go for it!
Whoo hoo Casey!
Add $50,000 more debt to your name!
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69mandingo
December 11th, 2006 at 8:50 am
whats nice about corp credit is that they allow you to finance the materials at 96% interest. win win!
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Ethical Realtor in DC
December 11th, 2006 at 8:50 am
1. Your wife’s credit is already in the hole. She should have never trusted you with her social security number - or her hand in marriage
2. You are considering paying $4000 for some basic incorporation kit that teaches you how to do what a reputable lawyer (i.e. one you would never meet at any of the courses you take) would do for well under $1000. No wonder you are broke.
3. And their “guaranteed $50,000 cash credit” - love to see the small print on that one. In what time period? At what rate? From which lender? If they are not a lender, how can you hold them to that?
I’d love to know the answer to the question someone asked about a corporation assuming personal debt… especially for property that is not owned by the corporation or for credit card debt
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invest3
December 11th, 2006 at 8:50 am
I believe your M. O. now is to come up with the most irrational and outrageous “ideas” you can think of just to drive traffic to this site. Nobody could really be this stupid- this is getting old. Nobody should post here again until we see a copy of Casey’s Chapter 7 filing.
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Wikifortune.com
December 11th, 2006 at 8:50 am
Dear Casey,
How is the job with Chris going sir?
He knew how incredible employee you were and decided to give you some vacation time sir?
What is this meaning of getting more loan sir?
Mr. Casey, please wake up sir and smell the starbucks coffee.
Please enlighten us with the type of sweet deals you will be making before you get the sweet $50,000 “shady” loan.
If you don’t have a solid plan (and just a general plan) and decide to borrow $50K… just exactly what are you doing sir???
I’ve clicked on 2 ads for great entertainment.
Keep it up sir.
Sweet.
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Don Arson
December 11th, 2006 at 8:53 am
Casey, you got into this mess by borrowing money, why do you think that borrowing more money will get you out of this mess?
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Ethical Realtor in DC
December 11th, 2006 at 8:54 am
Neer trust anyone who uses “utilze” when the simple and correct verb is “use”
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rob
December 11th, 2006 at 8:59 am
The sweetness of this sweet deal is so overwhelmingly sweet that it makes my head explode from sheer sweetness.
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GRRREAT IDEA
December 11th, 2006 at 9:00 am
Absolutely knock-out idea, Casey. A real win-win. You are already swimming in more than $2 million of debt, so what’s another measly $50,000 or so. You need the money for Christmas presents for you and your wife, since you obviously can’t draw more credit on your credit cards.
All you need now is the $3,995 to get the Corporate Broker’s CD, so you can understand how you can get hold of this cash hoard of free money. You should be able to borrow that, too.
My advice: don’t wait. Jump in.
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Spaceman Spiff
December 11th, 2006 at 9:05 am
Casey,
It took some advanced math (gazintas), so I asked Mrs. Wormwood if I could get $50,000 mow many times does it gazinta 2,200,000?
Mrs Wormwood said 50,000 gazinta 2,200,000 44 times. So you need 44 companies.
Mrs Wormwood said that I should tell you that if you want to pay off your wife’s $30,000 (she’s an icky gurl), and your $140,000 more, it gazintas a few more times. So you need 47 companies to get enough.
I’m really bummed because mom and dad are going to a movie tonight and Rosalyn is going to watch me. Maybe if Stupendous Man appears he can defeat the evil Rosalyn. If not, I’ll get in my time machine with Hobbes and make it tomorrow.
Calvin
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Anomalous Blowhard
December 11th, 2006 at 9:05 am
JTR: You’ve confused your storms. Tornadoes touch down. Hurricanes make landfall.
I believe that Casey is a tornado. He moves around unpredictably, frequently changing direction at random. The damage he does is limited to the immediate areas that he’s passed through, and he’s on his way to the nearest trailer park.
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Joker
December 11th, 2006 at 9:23 am
This is funny, A scammer(casey) scam by another scammer.
Sweet~~~
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San Diego Renter
December 11th, 2006 at 9:27 am
How much is Corporation Brokers paying you for this ad?
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Unbelievable
December 11th, 2006 at 9:30 am
Just how many times have you paid off your wife’s 30K credit card debt ? I know it’s been at least twice. What are you spending the money on ? Quit f***ing around Casey.
Or is that $erCa$ey ?
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Jack
December 11th, 2006 at 9:36 am
“All you need now is the $3,995 to get the Corporate Broker’s CD, so you can understand how you can get hold of this cash hoard of free money. You should be able to borrow that, too.”
he already did!
Casey’s a genius, man! we underestimated him all along. he’s actually been preparing for this. you know, preparing: thinking ahead!
Casey, the haters camp can count me out. I am now turning to the good side. Your biggest fan, this is Stan.
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NoVa Sideliner
December 11th, 2006 at 9:44 am
Well, so now we know where that $4500 loan is headed.
You’ll “invest” $3995 on that scam, and that leaves you with a “profit” (in Kiyosaki’s accounting terms, no doubt) of $505, which you can apply to [name your squander item here]. Wow, it’s a win-win!
Then you’ll find out that when you borrow money as a corporation, legitimate lenders will look at the credit of the corporation’s officers (you, and maybe wifey), and send you packing. No pennies for you!
Perhaps Vinnie and Guido, those guys with offices out by the docks, can make a loan to your corporation, but the corporate shield you have spent so much on might not impress nor hinder his bill collectors very much as they “encourage” you to make timely repayments.
You’ve provided excellent examples already to others about how to ruin your credit and a large chunk of your life. This could provide even more examples, so please keep writing about how well this wonderful win-win deal works out.
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Nigel Swaby
December 11th, 2006 at 9:53 am
Casey,
I said this once when you first brought this up, it’s a scam. The other posters confirmed it. If you get a “loan” that involves upfront fees, it’s a scam. Matthew Lesko has made a career of packaging up free information, hyping the hell out of it and selling it for a huge profit.
How’s this for a fundraising idea - auctioning off the note you hold on that Highland property? A savvy investor, with resources, could foreclose on your deadbeat buyers, fix and resell in the 2nd most rapidly appreciating market in the country.
On another note: It was snowing yesterday, so I didn’t make it down to Highland for photos. I’ll go there during lunch today and post on my blog tonight.
BTW have you made contact with your 3rd party service for the payment on that Highland house? Why didn’t they notify you the buyers weren’t making payments?
If you don’t like the note auction idea Casey, I’ll make you a direct offer on it. I just thought you might want to maximize your profit potential by auctioning to the highest bidder.
Finally, the funniest thing I’ve seen on this board is:
Prefer to remain anonymous
December 11th, 2006 at 1:52 am
Carmen Sandoval…
on the real estate agent thread.
Anonymous, please remain that way. When you try to argue against satire, you look like a full-fledged moron.
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Tim, from Monterey Bay area
December 11th, 2006 at 9:58 am
Mighty Casey has struck out
With caution, using my “clean” browser (Java disabled, Javascript disabled, “cookies” not accepted, “private browsing” options all turned on) I navigated to the site Casey refers to:
“I came across Corporation Brokers. They promised to get me at least $50,000 of unsecured credit within a short period of time. With or without a personal gurantee!”
What I found was no “promises” whatsoever. How could they make such a promise, after all? They are not actually making any loans, of course.
Rather, I found the usual offers for more “education,” in “packages” designed to cause the “student” to “upgrade” to the next higher level.
The offered information looks to be valid stuff about forming a corporation, etc. The same sort of stuff we used to see in the backs of magazines, often about “Nevada corporations.” “For a low fee, you can learn how to create a Nevada corporation and shelter your income from the IRS! Send credit card information to We Will Make You Rich, P.O. Box 4242, Carson City, NV.”
These deals are not necessarily illegal…I know some knowledgeable people who set up Nevada corporations. (It takes time, and is not something to do overnight to try to hide income or debts already incurred.). And I suppose the Costa Mesa gang is actually selling real information, though that information is a) available for free by various means, and b) is not the magic bullet Casey seems to hope it is. (Getting another $50K of borrowed money will “only” bring his underwater houses up to where they were in September-October…do the math. And things were grim for him then, so “do the math.” He is now trying to borrow the amounts he is sinking by each month….bizarre.)
The meta-issue is, of course, that Casey once again is thinking that borrowing more money will reverse his fortunes. It won’t. He’s too deeply underwater for _any_ reverals in home price trends to bail him out.
(Do the math. I keep repeating this point, to no avail.)
The fact that he’s now at a week-long “education” seminar in Phoenix (no doubt run by the Same Old Crowd) to teach him how to buy houses in foreclosure is, well, typical.
The train wreck is coming and Mighty Casey is still stomping on the accelerator.
As the famous poem puts it:
The sneer has fled from Casey’s lip, the teeth are clenched in hate. He pounds, with cruel violence, his bat upon the plate.
And now the pitcher holds the ball, and now he lets it go,
and now the air is shattered by the force of Casey’s blow.
Oh, somewhere in this favored land the sun is shining bright. The band is playing somewhere, and somewhere hearts are light. And, somewhere men are laughing, and little children shout,
but there is no joy in Mudville —
mighty Casey has struck out.
–Tim, from the Monterey Bay area
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John
December 11th, 2006 at 10:00 am
My God,
I thought I heard it all. You still believe people will _give_ you money.
Look up the following:
D&B requirements for establishing corporate credit file- (ie: _your_ personal credit and state as the President, corporate officer, length of incorporation, corporate assets and sales, etc…). D&B will eat you. Oh, and you pay $500 to them to dissect you.
Corporation: You have a fudiciary duty to ensure that anything you do is in the BEST INTERESTS of the corporation and for the benefit of the CREDITORS.
Wow, I sense Caseys new blog:
I am being sued for misappropriating corporate monies.
Yes Casey, an incoporation is an entity of its own.
Go ahead with this plan… it would be fun to watch the Lender litigate against you personally for misappropriating corporate monies… even through bankruptcy court.
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giggles
December 11th, 2006 at 10:06 am
This company is a broker and I work in this industry…
This is how this works…they take your application and check your credit (Uhhh…what’s your score again?), then they look at the 3 or 4 BANKS that they work with to see if any of them would consider approving you. They send all your info to the bank along with everything they dig up on you…and they do have internet access. In a normal transaction, the bank gives an approval, the broker tells you that you are approved, and when the deal funds (you get your loan) the broker gets a commission. In this case, assuming that the broker has the balls to even present your application, which I’m betting they won’t because the Banks are thier bread and butter, the bank is going to laugh and laugh and then say no.
Even when they say they’ll approve “Any Credit”, meaning C or D credits, they won’t approve them all. Just those with something they can cash in with when you default, and the lien line is pretty long with you. You have S credit…s#$&&y
Also…broker sales reps will tell you anything to get you to apply, it doesn’t cost them anything and they work on full commission.
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Big Rod
December 11th, 2006 at 10:16 am
“Sippin’ on Gin and Jamba Juice”
Performer: Casey Serin
Sitting on my blue ball, this is Casey
Straight up early rising with lots of energy
And I´ll thank my maker when I get out of bed
5:55 in the morning so I can have a clear head
Got some money to lend? Then hook me up
36% APR? Sounds sweet, so “letsdoit” up
Mr. Foreclosure and Mr. Debt, I’m coming to get ya
Every dirty cent, yeah it’s coming back at ya
I’ve loosed some money yes it’s true
But I roll in my Jetta, sweet rims and stereo to hear some tunes
Somehow, someway
I’m gonna overdraft on starbucks like every single day
Macaroni Grill is where I get my meals
Ain’t no stopping my sweet real estate deals…
Rolling down the street, in my Jetta, sipping on jamba juice
Laid back (With my mind on my jamba and jamba on my mind)
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Frustrated
December 11th, 2006 at 10:16 am
“I did some research and everything looks legit”
Casey, this is EXACTLY why you will never be successful in real estate. If you cannot spot such obvious scams immediately, you are just going to fall victim to predator after predator.
I’ve heard before that people who are maximally incompetent in a given skill-set actually are so incompetent that they believe that they are competent. You’ve hit that point - you’re so far gone you fail to see just how much you suck at this.
Call me a “hater” if you want - I was rooting for you when I started reading this blog, but since you absolutely refuse to learn anything or take realistic steps to getting out of your situation, I can’t be kind anymore.
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Big Trouble
December 11th, 2006 at 10:17 am
Hey, Casey…did you make your property tax payments before you left for Arizona? I’m guessing no.
First Installment of 2006-2007 Property Taxes Due
LOS ANGELES, December 11, 2006 - Today is the deadline to pay the first installment of 2006-2007 property taxes, according to Los Angeles County Assessor Rick Auerbach.
Payments must be received by 5 p.m. or postmarked by midnight.
“The tax bill must be paid on time to avoid a penalty,” Auerbach said. “Even if property owners have not received a bill from the county Treasurer and Tax Collector Department, the law is clear that they are responsible for making the payment on time.”
“Mailed payments must be postmarked by midnight of Dec. 11, so just putting them in a mailbox that day may not be a guarantee of meeting the legal date.”
Taxpayers can pay their bills with the electronic check program Vcheck.
To access the program, taxpayers can log onto http://lacountypropertytax.com and fill out an electronic check with the same information that appears on their written checks, including their bank routing and checking account numbers.
Once the information is sent, taxpayers receive a confirmation page and e-mail.
Taxpayers also may use paper checks, made payable to the Los Angeles County Tax Collector.
The county accepts American Express, Master Card or Visa. Taxpayers should call (888) 473-0835 and a service fee will be charged.
Payments can be made at the Treasurer and Tax Collector’s office at 225 N. Hill St. between 8 a.m. and 5 p.m. Payments may also be made at the Treasurer and Tax Collector’s Lancaster office at 335A E. Avenue K-6, but only checks and money orders will be accepted.
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Unbelievable
December 11th, 2006 at 10:19 am
Maybe you should take Mr. Webb up on his offer (if it’s real)
http://iamfacingforeclosure.co.....ment-13612
http://www.propbot.com/
It’s free, what can it hurt ?
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Fred Fry
December 11th, 2006 at 10:38 am
Who are you going to get to be directors and officers of your corporations? (Why stop at one, get 5 for $250,000 in credit!)
When the corporations fail on the loans, the officers and directors are criminally liable in cases that involve fraud.
Think Enron.
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Casey is a Genius
December 11th, 2006 at 10:42 am
People like Casey are infomercial’s dream customers. They didn’t promise you a single damn thing. How can you be so delusional. You say you’ve learned a lot, but you have proven to us time and time again that you haven’t learned a single damn thing. You can’t even differentiate between loose vs lose yet either. You are a piece of work. You are nothing more than a shill now who is trying to market for others. Why not just prostitute your wife out. At least that might be more respectable. Instead of hiding behind this front of yours and your stupid posts like “Ohhhh No I wasn’t able to pay my $5K property tax bill that was due on 12/10. Is that OK if I don’t pay???” Ok…Let’s see for one sec if you are serious about these guys. Why do you need these trolls? You can file for a corporation through a very legit company online…And I’m not gonna tell you the name of the company. Look it up Genius. And you have the audacity to call the T-Shirt guy a leech while these guys get free promotions from you for offering nothing in return. Probably worked that out with them huh? Does that mean you get 50% off of one of their packages? Wow!! What a deal. I guess that is what you call a win-win deal right? And they’ll find you a loan with or without a personal guarantee. WOW!!! What a sweet deal. But isn’t that the same thing in your case?? It’s like they are gonna have to sell the story of the hooker with the heart of gold to try and find someone to lend you money. But then what’s another 35% interest on your 50K. You’re good for it right? They are just gonna have to get in line though. Boy do I really hope you do get that loan…And tell us who’s lending you the money. Would be nice to short that company. Now that’s a true “win-win” situation.
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Sigh
December 11th, 2006 at 10:43 am
How long until I see a scheme where you are hooking up with the question mark guy from TV to get “Millions in unsecured government loans”? Lately all I’ve seen are links to even shadier deals than what you are currently involved in.
I’m sure you’ve heard the saying “Robbing Peter to pay Paul” but in this case Peter might cut you off at the knees before Paul gets his shot.
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Chris in Michigan
December 11th, 2006 at 10:44 am
Wow, you are the greatest fool.
This is fraud if you really do not have a viable business. You should probably look up the word ‘viable’. Though it’s probably not in the Get Rich Quick Dictionary.
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Rick
December 11th, 2006 at 10:47 am
Look man,
I told you before, you CANNOT get corporate credit without a corporate financial history unless you USE YOUR OWN PERSONAL credit to get it.
I have formed and liquidated (profitably) 4 corporations over the years, 2 California S-corp, a Delaware C-corp, and a California LLC. All of them needed financing at one point and in each case the officers of the corporation had to ASSIGN THEIR PERSONAL credit to get the loans. THERE ARE NO EXCEPTIONS.
What kind of “research” did you do? I suppose you talked with the idiots sitting right next to you in this “college” seminar.
Go ahead and signup moron, whats another $1K or so in useless processing fees. I cannot believe you are still paying to go to these stupid seminars and actually think there is anything for you to actually learn. It’s all just a marketing scam, but you are too dense to see that.
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moom
December 11th, 2006 at 10:47 am
Now I think you are just trolling to get lots of responses…. OK here’s one LOL.
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Unbelievable
December 11th, 2006 at 10:50 am
From GIGGLES
“This company is a broker and I work in this industry…
This is how this works…they take your application and check your credit (Uhhh…what’s your score again?), then they look at the 3 or 4 BANKS that they work with to see if any of them would consider approving you……………………”
NO LOAN FOR $ERCA$EY !!!!!
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Turn Yourself In
December 11th, 2006 at 10:51 am
Hey Casey, will you take Jerome Mayne’s recommendation and turn yourself in to the FBI for the FRUAD you committed?
The longer you wait, the more it will COST us tax payers in the prosecution case against you.
Also, regarding your latest entry to entice people to visit your web site. No corporation will lend you money unless you can prove that you have a good business going. Since they are going to lend you the money, you must have provided enough evidence that you are making a TON of money from your website for them to lend you the dough.
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G-man
December 11th, 2006 at 10:56 am
Casey,
Calm down and use your web development knowledge.
As many have done to scrutinize you, you should do to scrutinize this “Corporation Brokers”:
A whois on them reveals:
1. Created on 28-Apr-2006
Red flag - Too recent - are you familiar with the expression “fly by night”?
2. Probably too new for much of a Better Business Bureau record. Even search engines don’t pick up much…
3. whois record: registrant’s email - the domain of the email is @hotmail.com??!
4. whois record: The name given for the Administrative Contact. Do a search on him - if it’s the same guy - he’s a poker player… nothing against professional gamblers but they are probably better at calculating the odds in their favor better than you or me.
Compare that whois to Wells Fargo’s and MasterCard’s (I picked those companies at random), their domain names were created in 1993 and 1994 (respectively) and the domains of their emails are wf.com/wellsfargo.com and ebrandsecure.com.
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Jeff
December 11th, 2006 at 10:57 am
Casey,
Stick to selling the properties you already have. Don’t go making new deals, getting more credit, or buying more properties.
Focusing on anything else will make things worse and your doom imminent.
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Mike
December 11th, 2006 at 10:58 am
Casey, keep us updated, I might do this if it works out for you.
Good luck
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Rod
December 11th, 2006 at 10:59 am
Go for as much as you can get…eventually the odds will regress to the mean and you will win!!
I don’t know why anyone is posting here…you’re hopeless.
But, then, I guess I’m posting, too. I think we’d feel differently if you really had a clue, but you’re doing this to yourself. You’re the most arrogant person I’ve ever come across.
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Wilson
December 11th, 2006 at 11:07 am
Do you ever do a whois?
First of the address is a PMB (Private MailBox). This is a red flag.
Second the registered domain is to an Avedis (means good news in Armenian).
Third don’t be so naive/gulliable.
[…]
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Par4
December 11th, 2006 at 11:17 am
What do you think the guys at ENRON did…
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The Trailer Park Boys
December 11th, 2006 at 11:27 am
Hey Casey,
Me and Ricky are on our way down to the states now. We are going to pick you up and you can hide out with us in Nova Scotia. They will never find you here.
You are more than welcome to hang out with us to drink rum and smoke dope. Its a Christmas tradition up here in the great white north. Ricky needs a new friend since Lucy left him for Randy.
I am exited about you helping me “flip” trailers and “short sale” some Christmas merchandise. Mr. Lahey(Trailer Park Supervisor) is not going to be a problem right now because he is on his Christmas drunk-a-thon and Randy is tied up banging Lucy.
Bubbles named his new cat “Casey” after you.
He is kinda small and was sick last week after he got loked up in the dope, ooops, “farming” trailer.
Remember Casey, “a dope trailer aint no place for a kitty”.
Thanks, Julian
p.s. Do you want us to pick you up in Phoenix or at your house???????
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star
December 11th, 2006 at 11:27 am
Next you’ll be saying selling Amway will be your salvation.
This junk you posted is a scam. It takes a couple months to get set up with a corp, an EIN, a DNB, a biz EX and a couple tradelines which would likely be under 1k each.
Any decent credit-line WILL require a PG. Any credit-line that allows you to extract cash(bt to check) WILL require a PG.
Borrowing more money isn’t going to help you Casey. You’ve borrowed so much already and you haven’t been able to do anything with it other than get yourself deeper in debt. You appear hopeless. You have shown you’re nothing but a foolish sucker who falls for every scam and gets caught holding the bag. Enjoy your fantasy while it lasts. I’d say you have less than 2 months to play around.
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TSAM
December 11th, 2006 at 11:28 am
Whatever, if it goes through and you get the money PLEASE pay back the elderly gentleman the money that you owe him. I hope he is out of the hospital.
Wait…you didn’t try giving him Polonium-210 did you, so you wouldn’t have to pay him back?
:’(
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nobody
December 11th, 2006 at 11:32 am
You should get a legal divorce from your wife so she can get started on cleaning up her credit rating. You will get saddled with the stuff you are responsible for. This is the morally correct thing to do. Do not think there is an easy out. More debt is indeed more debt. You will eventually declare bankruptcy, and you should prepare for that such that you drag fewer people down with you. Good luck.
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Turn Yourself In
December 11th, 2006 at 11:36 am
Casey,
No corporation is going to lend you money unless you can prove you have a rock solid business going.
Since they are going to lend you the money with your bad credit, you must be making a TON of money from your web site.
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Digg This
December 11th, 2006 at 11:40 am
http://digg.com/offbeat_news/O....._Age_Of_24
Please anyone who reads this blog click on the link and digg Caseys story, I want to see if we can get him on the front page of digg.com, it only needs about 30 more diggs.
Lets do this thing!
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star
December 11th, 2006 at 11:40 am
In fact Casey, if you go through will all of this you will only succeed in building more of a case against you.
Do you think the IRS will appreciate you applying for an EIN when you owe them many thousands of dollars? Do you think the creditors you’re currently stiffing will take kindly to seeing you attempting to open more credit?
I wonder how you can manage a corporations books and everything else involved when you can’t even manage a simple personal checking account.
It’s getting boring, almost disgusting watching you now. I’ve concluded that you are hopeless and won’t even begin to get a clue until you’re shutdown completely.
I think it’s time some of us here start contacting people in an effort to stop you. For your own good and the good of all the people and creditors you screw over. You are out of control. We need to get the state AGs on this, the FBI, IRS, CA FTB, county tax collectors, etc, etc. They’ll all want a piece of you and the way you are flaunting and exploting your situation will only add fuel to their fire.
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Craven Moorehead
December 11th, 2006 at 11:42 am
“I was only making $35,000/yr as a programmer”
Now that’s a nice quote. How much do you think you made this year? Last year? I’ll give you a hint….it has a MINUS at the front of it.
I think you’re running out of ideas to generate comments. For once in your life, just try the truth. That’s a lot more interesting than the crap you make up.
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Hater Mike
December 11th, 2006 at 11:47 am
They’ve got Power Point. They must be legit.
Repeat after me:
If it sounds too good to be true, it probably is.
Write this 100 times on the board:
You don’t get out of debt by taking on more debt.
Sweet
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The Trailer Park Boys
December 11th, 2006 at 11:54 am
Hey Casey, Lucy here…
Man your kinda cute and I cant wait to meet you.
I got some new breasts Today.(an early xmas present from Ricky and Randy)
Cant wait to meet you in person and you can stay at my trailer while your at the park.
Lucy
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Turn Yourself In
December 11th, 2006 at 11:54 am
You people dont get it.
Corporation creditors WILL lend out 50k and more if you can show them a good business model which is making $money$.
Corporation creditors can care less about credit history. They are mostly concerned with the business model and is it making money? If they lend Ca$ey the 50k, that means Ca$ey can prove he is making a TON of money from his WEB site.
Good business model is much more important than good credit and you know why? Because a good credit person with a bad business model will not survive, while a person with a terrible credit history BUT with a good business model will survive.
Short answer: Ca$ey is making a TON of money from his web site if corporate lenders give him 50k.
My comodo firewall reports 7 different web sites being access each and every time I visit this site and this is with no clicking of adds - just simply coming here.
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Cow_tipping
December 11th, 2006 at 12:04 pm
OK its official. You are the dumbest person alive. Your wife is your closest competitor. Or she is truly un aware. in which case she is getting the shaft, and no not your shaft, BTW I’d have adviced her to shut off her shaft-abilty for you eons ago. BTW she needs to have a temple built for her.
Dont mean to sound obscene but I wrote about getting the “metaphorical” shaft and the puns just followed.
Cool.
Cow_tipping.
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Casey's Serin Story is a HUGE LIE
December 11th, 2006 at 12:06 pm
I am now confused, is this blog true or his Casey lying?
What do you all think?
http://newsnstuff101.blogspot.com
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yneone
December 11th, 2006 at 12:11 pm
Casey, I don’t know about all this. I hope your getting good advice. I thought perhaps you’d meet with the LeechyOne. Please do not be coerced into signing anything.
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Mr. Flipper
December 11th, 2006 at 12:12 pm
Casey before you buy the Costa Mesa credit crap deal, investigate this. It’s cheaper and more effective/legal.
http://www.theultimatecashflowplan.biz/
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Alex
December 11th, 2006 at 12:13 pm
Casey,
Are you using this blog as a business (it generates ad revenue, doesn’t it?) to apply for the corporate credit?
Regards,
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Hooray for Homey da Clown
December 11th, 2006 at 12:15 pm
Three cheers for homey da clown! Can more people be this motivated in digging up stuff on this kid?
P.S. Casey, post your adsense revenue. It’s the honest thing to do.
P.P.S. When was the last time you made a payment on any of your debts?
P.P.P.S. How many dirty little pennies are you spending on your trip to Phoenix?
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Michael Cooke
December 11th, 2006 at 12:17 pm
Casey,
It’s unethical that you are using corporate credit to pay off personal debt; and flaunting it.
Corporate credit is used for business purposes only. Not personal debts. It helps companies thrive. If this gets out you are going to make it very difficult for people like me that own business that have worked very hard to achieve results. It only takes a few bad apple’s to spoil the bunch. Everyone jumps on board. You know what will happen.
I think you should declare bankruptcy Casey. I’m sorry I said anything. I thought you were a young entrepreneur like myself. But now it sounds like you just want to pay off personal debts; rather than start a business.
I’m very sorry about your spouce’s 30k debt. I really am. But let’s look on the positive side Casey. 30k is a car-loan. A car loan. You can easily focus on paying that off after declaring bankruptcy on your side.
I hope you do the right thing.
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henry
December 11th, 2006 at 12:18 pm
Casey’s get out of jail card: turn states evidence against the loan officers that setup his mortgages. In the pod-cast, Casey said that he was upfront with the loan officers/mortgage brokers about what he was up to. Use that fact! If the prosocuters include Casey’s blog, then it will be really difficult for the defense to claim that these mortgage “professionals” were using any judgement whatsoever when setting up these loans. In a preverse way, Casey would make great prosecution witness. After all, would any honest loan officer/mortgage broker setup a loan to a retard like Casey?
Remember, Jerome Mayne went to jail for stuff he did as a loan officer not as a borrower. Most of the convictions on the Mortgage Fraud page involve the middle-men, not the borrowers.
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Jip
December 11th, 2006 at 12:20 pm
I have three words for that; VERY BAD IDEA!!!!!!
Sorry to be negative, but this is starting to become like a train wreck. Ugly to look at, but you can’t turn away.
PLEASE STOP BORROWING MONEY!!!
YOU ARE JUST GETTING YOURSELF INTO MORE TROUBLE!!
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Astro Zombie
December 11th, 2006 at 12:25 pm
Ok, I officially join the crowd that believes Casey’s story is made up, or that he is trolling. Nobody could be this stupid.
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Unbelievable
December 11th, 2006 at 12:26 pm
$erca$ey
Are you reading your e-mail and moderating these comments while you sit through your seminar ?
Loo$er Loo$er Loo$er !
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speechless
December 11th, 2006 at 12:35 pm
Take it down a notch, Casey. You need to come up with something more subtle. Blabbing about yet another loan, repeating “sweet deals” and “looser” ad nauseam is getting boring.
Your talk has become tiresome. Now is the time when we dance.
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jonny quest
December 11th, 2006 at 12:36 pm
Mr. Flipper - You disagreed with me about helping Casey is not like helping an addict. With his latest post, I rest my case, however…if he is using this site to write blogs for advertisers in exchange for cash, commissions, credit, whatever, I guess that would mean he’s not totally clueless. But if this the type of advertiser that he’s willing to shill for, I go back to my original feeling that he’s nothing but small time grifter.
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none
December 11th, 2006 at 12:43 pm
@Turn Yourself In
I’m not exactly sure how your magic ‘komodo firewall’ can detect other users visiting a website… But anyway, it isn’t rocket science to figure out how many hits casey gets, it’s on the frontpage:
http://www.sitemeter.com/?a=st.....closurecom
Go find an adsense calculator and guestimate the click throughs.
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Don Arson
December 11th, 2006 at 12:44 pm
There is no Casey Serin. It’s easy to identify it’s a marketing troll by this point.
His latest blog entry has two Google Video commercials for a product designed to get you corporate credit.
His podcast was through a service where you have to sign up and register to listen to the podcast. In the company’s ToS it states that you can make money from each person that signs up to a new account.
All of his other links are the same, to products and services companies or salesmen offer. The whole blog is a scam to make money from Google Adwords and affliate deals.
Casey never listens to any advice, he makes promises and then breaks them to upset the followers, he does incredibly dumb things to solicit anger from the watchers that will then post and keep coming back to his blog.
You think Casey Serin is real because someone named “Casey Serin” is listed owning those four properties? You think he is real because someone claims to be him speaking on a podcast? Even the photo that the papers ran for their Casey stories was SUPPLIED by Casey…you’re telling me that the paper can’t send a photographer out to snap a photo of the subject of an article?
This is another lonelygirl15 hoax but it’s designed to make tens of thousands of dollars, and it’s working beautifully.
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walt526
December 11th, 2006 at 12:45 pm
LOL… wow, just wow.
The only way that this could be any funnier is if you posted about getting an offer from the prince of Nigeria and thought that you’re great luck would save you. Although you’re sort of immune to that type of scam when you’re demand deposit accounts are overdrawn and your credit accounts are over their limits.
Earlier posters beat me to it, but the “Whois” search pretty much blows them out of the water as a legit broker IMHO.
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Soup Nazi
December 11th, 2006 at 12:53 pm
“My comodo firewall reports 7 different web sites being access each and every time I visit this site and this is with no clicking of adds - just simply coming here.”
Can you explain to us non-tech folk what this actually means?
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TV
December 11th, 2006 at 12:58 pm
you guys are on FBI’s list
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Kasey
December 11th, 2006 at 1:02 pm
This is obviously fake. I am starting to think this whole website is fake.
You lost one more reader. I’m sure your AdSense revenue wont be affected.
Quit being suckered in by this site of lies folks.
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HungryBear
December 11th, 2006 at 1:05 pm
Casey,
Keep in mind the up front fee loan scam in one of the oldest cons in the book. But check out this dude “supercreditman” - he went from settling his debts at 30 cent on the dollar to 7 figs in credit in just a few years. If you got him do a podcast with you, I for one would watch it.
http://www.fatwallet.com/forum.....did=662972
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Joey Bobo
December 11th, 2006 at 1:06 pm
Your credit is shot anyway… there is no way you can possibly pay anything back, and you’re ultimately facing bankruptcy and prison.
So why not? It can’t do any more harm than what you’re currently facing.
Go ahead, and see what happens. Keep us posted too. If you actually succeed with your bankruptcy woes, this could end up helping thousands of other people.
And if it gets any worse… you always have bankruptcy to look forward too… or a plane ride back to Uzbekistan. You can even go back to Uzbekistan as a christian missionary and get them to cover you’re costs.
So go ahead Casey… it can’t hurt you any more, and it’s a better chance of succeeding than anything else you’ve done so far.
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fun
December 11th, 2006 at 1:06 pm
They only register for one year !!!
Who would only register only one year??? think HARD~~~
==
Created on…………..: Fri, Apr 28, 2006
Expires on…………..: Sat, Apr 28, 2007
Record last updated on..: Wed, May 24, 2006
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Dman
December 11th, 2006 at 1:10 pm
You should have incorporated yourself when you first started all this. At least then all these screwups wouldn’t be affecting your personal assets.
At least I think that’s how it works, maybe there are exceptions.
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Bugmaster
December 11th, 2006 at 1:13 pm
You know, I used to think that this fake blog (”flog” ?) was just a scam to make money off of adsense and media appearances, but now I’m not so sure.
What if the producers of this flog are actually benign ? Consider: in every post, “Casey” waxes ecstatic about some scammer or another, causing the users to bring their full armament to bear on the scammers in question.
Maybe that’s the actual goal ? To expose finance scammers in a creative way ? It appears to be working, too…
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ID
December 11th, 2006 at 1:14 pm
Identity theft,
let’s see, what’s casey’s SSN? and date of birth??
sweet~~~
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FBI
December 11th, 2006 at 1:16 pm
join FBI
http://www.fbi.gov/
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JTR
December 11th, 2006 at 1:16 pm
Hey…..upon further consideration, why not add misappropriation of corporate funds, fraud and grand larceny to the old resume!
While you’re having your corporation pay off your wife’s credit card debt, why not throw in a few vacations and ice sculptures too?
Hey, if Bernie Ebbers (that old hick basketball coach from Mississippi, who was so tight with a penny he probably never went to a single Get Rich Quick “Seminar”) could embezzle well enough to take over MCI and Sprint, surely someone with the sizzling intellect you’ve demonstrated can go much farther!
For more inspiration, check out this excerpt from the “Dennis Kozlowski” entry at Wikipedia: Another role model worth emulating…..
” Kozlowski was convicted on June 17, 2005 for misappropriation of Tyco’s corporate funds, among other charges. The prosecution won a total of 22 counts of grand larceny for $150 million in unauthorized bonuses. He was convicted of fraud against the company shareholders for an amount of more than $400 million.
On September 19, 2005 he was sentenced by Judge Michael Obus of the Manhattan Supreme Court to serve from eight years and four months to twenty-five years in prison for his role in the scandal.
Lifestyle
Kozlowski became notorious for his perceived extravagant lifestyle supported by the booming stock market of the late 1990s and early 2000s; allegedly, he had Tyco pay for his $30 million New York City apartment which included $6,000 shower curtains.
According to Forbes, Kozlowski also purchased several acres in the private gated community, The Sanctuary, in Boca Raton, Florida, when he was CEO at Tyco International.
Tyco paid $1 million (half the bill) for the 40th birthday party of Kozlowski’s wife, Karen M. Kozlowski. The extravagant party, held on the Italian island of Sardinia, featured an ice sculpture of the Statue of David urinating Stolichnaya vodka. This birthday bash was disguised as a shareholder meeting in order to get corporate funding. In a camcorder video, Dennis Kozlowski states that this party will bring out a Tyco core competetency - the ability to party hard. Subsequently, this shareholder meeting / birthday party became known as the Tyco Roman Orgy.”
Makes Jamba Juice and Macaroni Grill look like strictly minor-league stuff….. Come on Casey! Thought you were “CREATIVE!” Step up to the Big Leagues…..there’s a bright future for you in Corporate Fraud! It will make this house flipping thing seem like chump change!
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John
December 11th, 2006 at 1:21 pm
Since Casey does not want to ” (I don’t want to do any more shady loans) ” as stated above. I suspect his business plan will include:
“SaveMsSerin Inc requires initial financing of $50,000 so that the corporation can write a cheque for the full amount of the loan to the President’s wife, Ms. Serin, to save her credit.
SaveMsSerin Inc will seek further financing when Ms. Serin exhausts the $50,000. There is no expectation that the corporation will be repaid.
The corporation will also seek income through overpriced properties in foreclosure, currently in the name of the founder, Mr. Serin. The corporation can only realize any potential profit if it seeks subsequent financing rounds to service Mr. Serin’s Liar Loans.
SaveMsSerin Inc will also receive revenue from Casey Serin’s other ‘Get Rich Quick’ schemes.
Mr. Serin intends to use the corporation like his personal bank account without any regard to its creditors.
Mr. Serin’s extensive business experience includes chain letters, liar loans, and get rich quick schemes. Ms. Serin has actively supported Mr. Serin’s income methods and will be appointed the VP of Finance.
Mr. Serin will explore issuing shares to the public to quickly service all loans in the event any creditor files an application to seek a posiiton on the board to control the company and prosecute Mr. Serin.”
Bet you haven’t thought of fleecing elderly people by issuing shares have you? Oh, sorry… that’s what your chain letters were for.
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Joey Bobo
December 11th, 2006 at 1:26 pm
Hey, you’d better check with your wife first. You’re the stupid eager type… and I say that to wake you up.
You gaze at “sweet deals” the way I gaze at firm, nubile breasts on a 18 year old girl. But I digress…
Anyway… check with your wife fist. If she’s really studying accounting, and training to become a CPA, she should be able to tell you everything this guy is saying, but for free.
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Hi...I'm Dolph DeRoos
December 11th, 2006 at 1:28 pm
You sure are a dupe, aren’t you Casey. C’mon now.
You sound like a person needing that next fix.
*
yneone
December 11th, 2006 at 1:28 pm
Sippin on Gin and Jamba Juice…oh thats hilarious! Ha!
*
Loan Runner
December 11th, 2006 at 1:31 pm
Casey, I cannot believe that you are really contemplating
this corporate credit crap! Do you NOT know that any time a business owner attempts to build corporate credit; until that business is FLOURISHING for at least two years, any amount of credit guaranteed will HAVE to be backed (secured) by the individual’s own personal line of credit. How many corporations would be around today if all it takes is $300-$1,000.00 to start a corporation, then to get hundreds of thousands of dollars in credit, just to make “personal” purchases, file bankruptcy and get away “Scott free?”
NONE!!!!
Do you actually believe that you will not be held personally liable for any “business expense” that you incur under the corporation’s credit? I am 101% sure that you will NOT qualify for ANY line of credit with your personal guarantee.
You will NOT get credit based on a EIN/TIN; but on your own social security #…which is unfortunately screwed.
*
Blah-Blah_Blah
December 11th, 2006 at 1:36 pm
Casey’s getting paid from Corporate Brokers to put their ad (”posting”) on his blog.
*
JOsh(ga)
December 11th, 2006 at 1:36 pm
Hmmmmm….borrow $50,000 dollars of debit to pay of debt. I dont think it is a wise idea. Still, if you do decide to move forward just dont leap into anything. Research this company talk to some lawyers and etc. Then make a decision. Still, I personally would never do this. I understand why but remember this. If you cant afford the house payments if they dont sell how are you going to afford the loan. Still take care and good luck
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Lostsite
December 11th, 2006 at 1:39 pm
I went on that website and I find it interesting that they guarantee 50k in business credit only if you pay for the “Platinum Package.” That package is yours for only $3,995. Wow what a deal that is. I think that Casey is feeding us all the dog. I really don’t think he wants our help after all he is in Phoenix for a week doing things most advised against him doing. I think he is trying to become a marketing sales person for certain business’s like this one which he probably gets a kick back for each person who is dumb enough to take the plunge. I think Casey is trying to play us the same way he played his failing real estate deals. He gets enough suckers to buy into his B.S. he can get more money for his “classes and his starbucks and everything else he does. Why would he put his efforts and energy on his real problems which is his properties in foreclosure?
*
Digg Sucks
December 11th, 2006 at 1:46 pm
Five Reasons Why Digg Sucks
Don’t get me wrong, I’m a digg user and will continue to use digg (I’m not very active though, I guess I’m more of a lurker…) and there are stories on the site that I would not have heard about otherwise. Still, I think there’s a lot to be desired and since I don’t know how to fix things I guess I’ll just bitch about them. So, my five reasons why I think digg sucks:
1. Despite being a “technology news website” it consistently features stories that are not technology-related in the least. Stories like, “OMG! Clay Aiken is GAY!!” or “Britney Spears to appear on Simpsons!!” are very common on the site.* GMAFB, what does any of that have to do with technology? It’s a little thing to bitch about but still, if I wanted that kind of crap I’d look up different sites that specialize in it. Just keep things to technology, that’s all I ask.
2. Members can be elitist assholes. I rarely see anything that approaches a rational discussion in the comments, instead, you are treated to off-topic flame wars and personal attacks, most of which involve some sort of “I’m OLD SKOOL and I’m great” type of talk. I’ve seen new members of the community ask a reasonable question only to be told to “Go back to engadget where you belong because this is Digg where our mouths are even bigger than our dicks.”**
3. Webmasters are given no warning when their site is going to be “dugg.” I think it’s irresponsible of a so-called technology community to overwhelm a web server without having a system in place that would allow the webmaster to set up some mirrors or somehow prepare his site for when the traffic comes. The, for lack of a better term, digg-effect can be devastating to a site and the bandwidth bill can get into the thousands before the webmaster knows what’s going on. These “diggers” know exactly what they are doing yet they completely disregard their responsibility for bringing a site down.
4. Digg traffic does not equal advertising dollars. Many webmasters have advertising on their sites, like Google’s Adsense or Yahoo!’s YPN and mistakenly thing that getting dugg will equal money in their pockets. This is dead wrong. The people that use digg don’t click on ads, they’re the wrong crowd for contextual advertising, and the webmaster usually ends up paying for a ton of bandwidth and lowers his click-through rate, thereby causing himself to be smart-priced out of the higher-paying ads that might have been shown on his site.***
5. Apple is God and Microsoft is the Devil. I just don’t understand why everyone has to jump all over a guy just because he has Windows installed on his laptop. You want to know something jerks? Sometimes people in the world can’t afford the Apple-tax and they have to get something that’s in their price range. Yeah, everyone knows that Windows sucks, we don’t need to hear it every second.
*
Nigel Swaby
December 11th, 2006 at 1:49 pm
I can’t believe you guys missed this! Did you see the testimonial page for this corporate credit website? They all referenced the previous scam name: Business Development Systems.
“After exhausting my personal credit, Business Development Systems showed me a new path. I incorporated my business, obtained cash credit, and expanded my business to triple the size. It is amazing how much further you can travel in your ventures with the use of Corporate Credit. Thanks Guys!”
– Tom K., Real Estate Investor
Sounds good Tom! Does this apply to Corporation Brokers, Inc. as well? Sign me up!
On another note folks. I went an looked at Casey’s house in Highland today. The owners actually fixed it up! They put on stucco and stone to match the neighborhood. About 7 new houses have been built around it. I didn’t see any for sale signs on it, but I did see what looked like a lock box.
I’ll have the photos up on my blog tonight. (Just click my name to get there Yneone.)
*
Joey Bobo
December 11th, 2006 at 1:53 pm
Stupid boy… you really need to check in with us before you go waste a week on some foolish seminar. What was the name of the seminar anyway? We could tell you if it’s a waste or not.
We’re your buddies… we have your best interest at heart. Learn to trust us, and we won’t be such “haters”. We wouldn’t demean and abuse you verbally if we didn’t care so much.
Here’s a tip… send your wife some flowers tonight with the words “Because you’ve always been there for me, I’ll always be there for you. I love you”.
You’d better start doing things like that if you want to keep your marriage.
*
ConMan
December 11th, 2006 at 1:54 pm
Casey is a scam artist.
I am 100% sure these “Corporation Brokers” are paying him for some primo advertising. He gives them a huge plug, with links, AND posts their videos on his blog. We’ve all been duped, Casey is a FRAUD and his story is a sham.
*
myebid
December 11th, 2006 at 1:55 pm
Come on people buy some shirts and help Casey
*
Bedrock92990
December 11th, 2006 at 2:02 pm
CASEY, WHERE’D YOU GET THE MONEY TO GO TO PHOENIX?? WAS THIS FROM YOUR PARENTS? I WAS FEELING SORRY FOR YOUR SITUATION, BUT YOU DON’T WANT TO LISTEN TO ANYTHING ANYONE HAS TO SAY. YOU’VE HEARD FROM SOME PRETTY SMART PEOPLE HERE, BUT YOU WILL CONTINUE TO DO WHAT YOU WANT TO DO, AND UNFORTUNATELY, YOUR DECISIONS CONTINUE TO BE POOR. YOU’RE GOING TO LEARN THE HARD WAY. YOUR DIGGING YOURSELF DEEPER AND DEEPER. I JUST DON’T FEEL SORRY FOR YOU ANYMORE.
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Jozsibacsi
December 11th, 2006 at 2:04 pm
Replace gambling with real estate “investing.”
Did you ever lose time from work or school due to gambling?
Has gambling ever made your home life unhappy?
Did gambling affect your reputation?
Have you ever felt remorse after gambling?
Did you ever gamble to get money with which to pay debts or otherwise solve financial difficulties?
Did gambling cause a decrease in your ambition or efficiency?
After losing did you feel you must return as soon as possible and win back your losses?
After a win did you have a strong urge to return and win more?
Did you often gamble until your last dollar was gone?
Did you ever borrow to finance your gambling?
Have you ever sold anything to finance gambling?
Were you reluctant to use “gambling money” for normal expenditures?
Did gambling make you careless of the welfare of yourself or your family?
Did you ever gamble longer than you had planned?
Have you ever gambled to escape worry or trouble?
Have you ever committed, or considered committing, an illegal act to finance gambling?
Did gambling cause you to have difficulty in sleeping?
Do arguments, disappointments or frustrations create within you an urge to gamble?
Did you ever have an urge to celebrate any good fortune by a few hours of gambling?
Most compulsive gamblers will answer yes to at least seven of these questions.
Casey, replace gamble with real estate investing. How many times can you answer “yes?”
*
Anon4
December 11th, 2006 at 2:13 pm
Oh I got an idea!!!
Why don’t you start a seminar review blog?* You already go to all the seminars so there would be very little start-up cost. And once you get it up and running, RK will be paying YOU for advertising.
*If you do use my idea, I expect 10% royalty commisions.
*
Reckoning
December 11th, 2006 at 2:23 pm
Do it Casey! You will succeed! Go another 50K in the hole so you can create more sweet deals and creatively create more money for all the people who can’t get credit except thru you! You are the amercan model for entrepreneurship! Don’t let these haters get you down! you can do it! Keep plugging away and slowly rebuild that vast empire of yours! Now is when most people quit, though someone like you wouldn’t, and that is why you will be in that 1% of the people that will make it..cuz you just won’t give up! Nothing will bring you down..go to more seminars, fly on more trips, it’s all tax deductible anyways! Go out with a bang, if you are going to go bankrupt, at least make it spectacular!
*
WINEX
December 11th, 2006 at 3:16 pm
@Tim From Monterey
Tim, you either have more guts, or less security concerns than I have. If I was going to visit a site like the one that Casey linked to, I would rather quickly boot to a Linux live CD than to depend on disabling various browser features ( Javascript, Java, and Active-X for those brave enough to use IE)
*
Spaceman Spiff
December 11th, 2006 at 3:30 pm
Here are the four truisms that will make Casey successful:
1) Real estate only goes up
2) Corporations always get to borrow
3) Corporations never have financial difficulties (see #2)
4) He has found the ‘’true,, business secrets in AZ
Gotta go fight the despicable scum beings of Planet Q-13 before they destry earth
–Spaceman Spiff
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Name This Corp.
December 11th, 2006 at 4:05 pm
Debtco Inc
Scamway
Blue Ball Enterprizes
Trash Can Limited
Ghetta Properties
Serins’ Rim Radio & Realty
Chapter 7 Books
Piss-a-Way Plumbing Partnership and Investment Strategies
Jest Buy
REfuse to Work LLC
Surely any of these would be be a great tax shelter for ya- anything you touch is a non-profit.
*
John J
December 11th, 2006 at 4:16 pm
I say if some idiot is willing to lend you $50K or any amount for that matter, I say go for it!!! You can pay off your Wifes debt first. Then you can buy her a nice big expensive gift and maybe She’ll visit you when your in prison. Whatever you have left don’t bother wasting it on “sweet deals”…the real estate market is going down, down, down, you aren’t going to get out of this one. Take the rest of the money, head to Vegas and put it all on the roulette wheel…you stand a better chance!
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Foreclosure and credit
December 11th, 2006 at 4:17 pm
links from Technorati Original post: Corporate Credit? by at Google Blog Search: foreclosure and credit Blog tag: Foreclosure and credit Technorati tag: Foreclosure and credit
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DONT DO IT
December 11th, 2006 at 4:19 pm
“I can use the rest of the corporate credit to do sweet real estate deals and/or other opportunities that would help me dig out of this foreclosure mess.”
Please don’t borrow any more money… you have proven yourself to be incompetent. Do us all a favor and declare BK.
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Austin Dude
December 11th, 2006 at 4:20 pm
This blog is getting too weird. Anybody else bored?
*
Greg Broiles
December 11th, 2006 at 4:24 pm
The “credit” is BS. Look, nobody with a lick of sense is going to lend $50K unsecured to a brand new corporation with no income and no explanation about how the $50K is going to get repaid. Doesn’t happen.
Ok, that’s a little strong. Sometime people talk their friends and family members into doing a transaction this stupid.
But nobody who’s in the business of lending money will get anywhere near this. Anyone who tells you anything different is lying to you.
There’s no reason why you should pay anyone $4K for a pile of CD’s and workbooks.
Here’s the thing - people who are really successful don’t need to set up infomercial businesses to extract money from others - they’re already successful, right? And if they’ve already got a bulletproof system to make money faster than they can spend it, why are they trying to make money by selling books/CD’s/seminars?
And if they’re really motivated by a desire to share their success secrets with the rest of the world, they can write a book, or put their information on a $10/month website. They don’t need to charge anyone $395 (or $3995) and play a bunch of hokey games about limited time offers and revealing dark business secrets and all of the rest.
In the long term, you make money by providing real value to real people - typically by solving a problem they have. This has been true for thousands of years, and will continue to be true.
“Sweet deals” and “opportunities” that revolve around people paying $220K for a house that’s worth $150K are just going to lead to disappointment and trouble.
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Casey Serin
December 11th, 2006 at 4:32 pm
My wife’s credit cards have been used 90% for business purposes. That’s why I want to refi using corporate credit and get it off her name. Business debt should be run through a corp, not personal name. (I’m just learning all this now).
The problem is that we co-mingled the expenses on those credit cards. Most were business but there is still about 10% (or something like that) of personal expenses on there.
I need to talk to a CPA about this and figure out the best way to structure it to make sure we’re getting some deductions and such.
One of my goals this month is to get the crazy accounting mess from this year under control. We have done many deals and have done lots of business travel (and a little personal). We have all the records but we need to organize and categorize. This way we’re not having our CPA sort through our shoe-box of receipts to the tune of $150/hour.
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Treyy
December 11th, 2006 at 4:33 pm
I think Casey is pandering to the critics here. “Sweet real estate deals”? Unreal.
BTW, for corporate credit you need to have cash flow, a business, and a way to pay it back. To start, you usually have to have to personally co-sign or have a secured line. You could theoritically borrow more money from one of your friends, open up some corporate credit lines, build your profile and then borrow unsecured and screw more people over.
Good luck.
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Niceville Hockey
December 11th, 2006 at 4:35 pm
Get an hourly job and start making a sustainable living.
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Unbelievable
December 11th, 2006 at 4:47 pm
“I need to do this” and “I need to do that”
You needed to do a lot of things a long time ago………..but sending borrowed money to this scam organization is NOT something you need to do, now or ever.
What is WRONG with you Ca$ey ? The game is over and you lost. Admit it and move on.
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Doug
December 11th, 2006 at 4:49 pm
If they are stupid enough to lend you the money, then take it.
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DC Troll
December 11th, 2006 at 4:54 pm
It seems to be official: Casey is trolling. This post suggests blowing money he doesn’t have on TWO stupid ideas, a seminar and overpriced DIY materials on incorporation that cannot help.
Hey Casey, while you’re writing checks, why not get on the “energized water” bandwagon? This would go perfectly with your early rising. If the link isn’t active, Google “energized water snake oil”.
Remember, city tap water and even bottled spring water has a bad atomic bonding angle, too few electrons, the wrong atomic spin, is full of disease markers, acids, and free radicals, and even has a memory of all the diseases it ever carried! Unless you drink energized water, you will surely die young from cancer, starting in your face and genitals. You wouldn’t want that for yourself and your lovely wife, now would you?
Surely you can afford a mere $15,000 for my patented device to correct all these problems and guarantee you a long, healthy, happy life. Once you have been using this water for a while, your stunning good looks will land you any number of movie roles and make you wealthy beyond your wildest dreams.
How soon can I expect your cashier’s check in my P.O. Box?
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Turn Yourself In
December 11th, 2006 at 5:18 pm
If Ca$ey can show a corporate lender that he is making 25K a month through his Web site, they will easily approve a 50k loan.
Coporate credit lenders only care about the income the business is making, not the credit history.
So Ca$ey, are you going to TURN YOURSELF IN TO THE FBI as Jerome recommended you do?
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Chris Johnson
December 11th, 2006 at 5:25 pm
Do I detect some doubt in Casey’s plan from yneone? Say it ain’t so!
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Chris Johnson
December 11th, 2006 at 5:32 pm
Also, SerCasey, your rationale for using the mythical $50k in corporate debt to pay off your wife’s credit cards doesn’t work, as the corporation would have to have an actual business plan and be adequately funded to carry out that business plan in order to take advantage of the limited liability of a corporation. Paying off past debts wouldn’t qualify. I suppose you could have the corporation use that debt to purchase buy your wife’s highly valuable interest in your sweet RE empire, but given the huge red ink your empire has, it wouldn’t pass the smell test later. But hey, don’t let reality stop you.
And good luck with whatever you’re cookin’ up in Phoenix–my sense of incredulous disbelief can hardly wait.
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Fister Hiney
December 11th, 2006 at 5:41 pm
Casey, do not listen to these haters. Do the deal man, get your wifes cards clean and get those houses caught up man. It sounds super sweet to me. I am just glad that that spudnuts the cat is gone I was afraid he was going to poop in my shoes. Watch out for those trailer park guys, I know them dudes and they are no good. And that girl is called Lucy for a reason if you know wat I mean.
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Tim, from Monterey Bay area
December 11th, 2006 at 5:58 pm
“My wife’s credit cards have been used 90% for business purposes. That’s why I want to refi using corporate credit and get it off her name. Business debt should be run through a corp, not personal name. (I’m just learning all this now).
The problem is that we co-mingled the expenses on those credit cards. Most were business but there is still about 10% (or something like that) of personal expenses on there.”
Casey, it’ll likely be very difficult, fiscally and legally, to fund your wife’s credit card debt through a corporate loan. For lots of reasons, including the key fact that a bank or other lender is unlikely to fund a corporate line of credit “so we can pay our past bills.” (Especially as even getting a line of credit of $50K really only reduces your combined CC debt from around $135K to around $85K. Not to mention your “five months behind” sorts of things on several (all?) of your houses, the continuing $20-25K/month burn rate, etc.)
Secondly, your credit cards and personal lines were co-mingled a long time ago. You admitted you have been supporting her while she goes to school, for a couple of years now. This means that expenses incurred on _your_ credit cards were used to support _her_, just as some of the expenses on her personal credit cards were used to support you and your JOINT real estate ventures.
Emphasize JOINT because she stands to profit equally with you–or lose, er, loose, equally. California is a community property state and these debts were incurred AFTER you married. And, according to your many statements here and in audio and video interviews, with her knowledge. Cf. the loans she co-signed, her name on documents, and your admission that she thought a lot of your deals were “shady” (”no more shady business,” or something like that, quoted by you). The key thing is that the debts were jointly run up…she was a full partner, albeit not an active one, in the joint investments. We have your own words and her signatures to confirm this. And it matter not at all whether we have signatures on _all_ of the properties, only that the debts were incurred after the marriage. After all, what would she do if you had made a lot of profit on these deals and then tried to cut her out of her equal share? This is the basic symmetry of community property.
You’ll have a nearly impossible time disentangling your comingling of credit cards. And having a corporation pay for her expenses is exactly what got a lot of the recent scandalistas (Kozlowski, etc.) sent to prison.
But no corporate lender is going to lend you money just to pay a portion of your credit card debts. (”Your” being the ones jointly held in the community, that is, the marriage.)
You’re deluding yourself again.
You should have taken the other pill, Neo.
–Tim, from Monterey Bay area
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Homey Da Clown
December 11th, 2006 at 6:03 pm
The last 20 people that visited this site:
1
shawcable.net Dec 11 2006 5:37:31 pm 1 0:00
2
txucom.net 5:37:26 pm 1 0:00
3
rr.com 5:37:23 pm 1 0:00
4
pixar.com 5:37:13 pm 1 0:00
5
72.90.134.# 5:37:09 pm 2 0:04
6
wellsfargo.com 5:36:48 pm 2 0:14
7
biltmorecommunications.net 5:36:40 pm 2 0:05
8
qwest.net 5:36:31 pm 1 0:00
9
comcast.net 5:36:26 pm 1 0:00
10
65.90.36.# 5:36:08 pm 1 0:00
11
76.215.181.# 5:36:08 pm 1 0:00
12
170.20.96.# 5:35:40 pm 1 0:00
13
pacbell.net 5:35:38 pm 2 0:07
14
swbell.net 5:35:15 pm 2 0:39
15
pacbell.net 5:35:10 pm 2 0:09
16
71.87.152.# 5:35:07 pm 1 0:00
17
rr.com 5:35:00 pm 3 1:35
18
comcast.net 5:34:57 pm 2 0:08
19
techex.net.au 5:34:54 pm 1 0:00
20
comcast.net 5:34:36 pm 2 0:09
Here’s your locations:
1
United States
2
United States Albuquerque, New Mexico
3
United States Canonsburg, Pennsylvania
4
United States Roseville, California
5
United States Flushing, New York
6
United States Portola Valley, California
7
United States Groton, Connecticut
8
United States Austin, Texas
9
United States Lake Bluff, Illinois
10
United States Corvallis, Oregon
11
United States Davis, California
12
United States New York
13
United States
14
United States Sacramento, California
15
United States Canton, Michigan
16
United States
17
United States
18
Canada Calgary, Alberta
19
United States Rancho Santa Margarita, California
20
United States Albuquerque, New Mexico
Still think Casey isn’t logging all of your IP’s and selling them?
Be VERY careful of this guy. I would not trust him, with your IP address , and with Casey’s history of scamming…… I would not put anything past this con man.
Oh, and Casey, today was a very productive day for sending out emails to parties of interest.
There must be some PI’s and police that see this site and have access to information you haven’t come clean about. Don’t think it will stay hidden Casey. The wheels of justice do grind slowly, by they also grind very fine- to a pulp.
You do still have some time to tell the truth and stop making it worse for everyone involved. ( but you won’t)
Love,
Homey
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About foreclosure
December 11th, 2006 at 6:04 pm
links from Technorati Original post: Corporate Credit? by at Google Blog Search: about foreclosure
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Loads o Money
December 11th, 2006 at 6:07 pm
Casey- those guys are just a training course, about how to get corporate credit. You’re not going to get corporate credit without your corporation having a track record.
You can just go to the bank without spending money to receive a course - telling you to go to a bank.
If you cannot recognize scams you’ll never be successful because people will just take your money..!!!
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Mind Petals: Young Entrepreneur Network
December 11th, 2006 at 6:10 pm
links from TechnoratiI am Facing Forclosure on Monday, December 11 I came across Corporation Brokers. They promised to get me at least $50,000 of unsecured credit within a short… Continue Reading »
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Voice of Reason
December 11th, 2006 at 6:17 pm
“The problem is that we co-mingled the expenses on those credit cards. Most were business but there is still about 10% (or something like that) of personal expenses on there.”
I hate to point out the obvious. NO!! You have much much bigger problems than “co-mingled” expenses.
The Titanic is sinking while you’re rearranging the deck chairs and deciding what tune the violinists should play.
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segfault
December 11th, 2006 at 6:25 pm
Yes, Casey… Keep pursuing a sweet deal. That has been your problem all along–you just had bad luck that caused your sweet deals to sour. Real estate is an excellent investment, but it requires a certain knack, and YOU, Casey, are one of a very few gifted people who have that knack, as you have proven time and time again.
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Sandra Rose
December 11th, 2006 at 6:36 pm
Casey,
I am concerned this is just scam…by what I read in these comments you are going to get a CD for $3995 and basically you have to incorporate your properties or business yourself? There are attorney’s out there that will put everything you own in a LLC or Corporation without you doing anything but paying them $3995.00.
Gypsy
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Fred
December 11th, 2006 at 7:02 pm
Casey, casey. This sounds like a gambler’s final throw, but one that has no chance. Listen, BANKRUPTCY is your only option. The more you prolong this, the worst it gets. You keep going to this so called gurus and all you do is spend more money. The gurus you have followed made their fortune selling a dream, not flipping real estate. You would be better off seeing one of those gypsy psychics for a money spell, lol. But seriously, file for bankruptcy and stop the madness.
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Joey Bobo
December 11th, 2006 at 7:12 pm
Homey Da Clown,
How’d you do that? You got my local ISP IP address and location listed there, even though I’m logging through a neighbor’s wi-fi.
If I was Casey Napoleon Dynamite, I’d say “Sweeeet!”
How did you do that?
*
Dale D
December 11th, 2006 at 7:15 pm
Your Tax liability seems to be of little intrest to you. Not only are you 2.2 million in debt but you’re gonna owe the irs a ton of money for all of these deals. Your so stupid it really seems that this is fake. However I am experienced with google adsense and I now that your not making any money there. I can’t see why that corperate credit company would pay for the exposure since it basically negative so whats the deal? Is it possible that your just retarded? I think the media that reported on you would have at least made sure that your legit.
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Big Cheese
December 11th, 2006 at 7:21 pm
Use your adsense revenue as collateral. It’s the only serious cash flow income you have.
And with the additional traffic you get with these troll posts you can borrow more no doubt. It’s a win-win sweeeeaaaaeet (but no sweat) deal.
Casey, you’ve created a financial perpetual motion machine. Apply for the Nobel Prize NOW and get your millions. Then you can borrow 10’s of millions more $$$$$$…..
I bet you feel a bit like an actor following a crazy script. The director only gives you installments so you can really act and not know the writers’ intentions for the ending. Is it the lady or the tiger? I think you have to swing for the fences. (Sorry too many mixed metaphors here). Swing Casey Schwing!!!!!
And I’ll bet you can even get PRLINKBIZCH to switch teams while you’re at it. Your gonna be a star, my boy!
Big Cheese.
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Real Estate Secrets
December 11th, 2006 at 7:33 pm
Casey,
Borrow the $50,000 and use it to buy more guru cool-aid–books/tapes/seminars. That $50,000 in books and seminars will enable you to make 10 times the amount you spend on your “education” AKA–guru cool-aid. Just keep borrowing and spending and you will be rich beyond your wildest dreams, but only if you spend enough on seminars.
Go for it.
Save enough money for my book which will be coming out soon: Real Estate Secrets for Suckers $495, or buy the Three Star Edition of my book for $695.
This limited time secret information will not be available in book stores. Do not buy my book if you want to be a slave to a JOB for the rest of your life. Do not buy my book if you do not want the true secrets to making money in real estate, stocks, notes, precious metals… Sure most books cost only $20, but my book has the word “secret” in the title. I will throw in a boot camp version of the book if you can’t read for an extra $2,599. The boot camp will include 3 full days of me reading the secret book to you and other seminar attendees. Yes, I will read the entire book to you; you do not even need to know how to read to take advantage of this limited time offer. You can’t get rich without first spending on your education. This is how the wealthy spend their money. Need I say more? What are you waiting for?
Testimonial:
“I listened to the secret book. I will do 10 deals next month and I will be a millionaire in 3 months.”
Seminar Junkie.
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SpaceMonkey
December 11th, 2006 at 7:49 pm
I got to the point in the video where he started talking, and I just could not stop laughing.
I wonder if he’s wearing any pants?
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Sprezzatura
December 11th, 2006 at 7:57 pm
Not that I am any fan of Casey, but accusing him of “selling IP addresses” is stupid. An IP address is nothing; it has no value except to show that there was a hit to the site.
Logging the IP addresses that come to your site and using them as justification for ad rates (like with Sitemeter) is a very normal practice, and pretty much any site in the Internet that runs ads does something similar.
In short, Casey may be a fool, but cutting and pasting details from his Sitemeter reports and using that as ‘proof’ of something nefarious is just as dumb.
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Easy Living
December 11th, 2006 at 8:05 pm
Uh … yeah, why not? Go for it and tell us how it works out.
Getting boring here… Need better material…
Anyone know of other trainwreck blogs to go to? This one’s run its course, I think.
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Tom Durkin
December 11th, 2006 at 8:06 pm
Casey,
Suggestion….
Can you change your blog to say:
(# here) Sweet Comments
instead of
28 interesting comments….
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Dokala
December 11th, 2006 at 8:08 pm
I’m guessing Casey is getting an all-expense paid trip to this seminar to tout whatever service paid for his trip… Corporate Brokers. Since he has neither the time or the money for this trip, somebody or some company has to take care of the money part.
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UncleC
December 11th, 2006 at 8:16 pm
“A fool and his money are soon parted!” Old Irish saying. And you’ve been partin’ with it real good, boy.
Also, I find myself coming to the conclusion that, like some have already posted, you probably suffer from Manic/Depressive syndrome, and you appear to be on a massive new manic swing right now. Get medical help (and legal help) asap. Good luck with all that.
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ConMan
December 11th, 2006 at 8:20 pm
Casey is a scam artist, that’s why he won’t let my posts go through moderation. His story is a FAKE and he is just posting this corporation brokers stuff because they PAID HIM TO ADVERTISE.
*
Hooray for Homey da Clown!
December 11th, 2006 at 8:33 pm
Homey da Clown is awesome! How about some responses, Casey? Are you selling IP addresses?
P.S. Casey, post your adsense revenue. It’s the honest thing to do.
P.P.S. When was the last time you made a payment on any of your debts?
P.P.P.S. How many dirty little pennies are you spending on your trip to Phoenix?
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Phil
December 11th, 2006 at 8:43 pm
Man, Casey. Don’t fall for these guys Corporation Brokers! You’re going to end up getting in more trouble again. Can’t you see a pattern here? You pay, and then you lose, and then the person you paid, wins. It’s really simple.
To have business credit you need to have at least an LLC, be listed in DNB, Business Experian, etc., have all the same addresses listed with all vendors and bureaus, AND have the cash to payoff credit that vendors lend to your business ,and make sure they report your prompt payments to the bureaus. This, of course, has to occur in a timely manner, just like with personal credit. Which means you need cash to do this. You’ll also need trade references too. All this takes a good 2 years to establish.
Do you know why they call people “Brokers”? Because in the end, YOU’RE broker! If you do this Corporation Broker thing, you’ll be in the hole $4,000, and have nothing to show for it - except maybe a business credit card with 36% APR, which you can get without their help anyway.
retirein6years.gcproperties1.com
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Emmanuel Sharp
December 11th, 2006 at 8:48 pm
THAT’S RIGHT, MY SWEET-TALKIN’ BRUTHA!!!
Man, there are sweet deals to be had all over this sweet nation. You just gotta know the right people! When you talk the talk and have the right contacts, then every door is an open one.
I’ve been a mortgage broker for over 12 years, and getting financing for a home is like getting candy from a baby — a big baby with a poopy diaper who cries a lot. That’s how you have to think of lenders — big fat babies. Sometimes they get mad and cry, but if you give them a sip of brandy, they’ll go right to sleep.
Gotta be fast and loose if you wanna play this game, Casey! Keep up the good work. Emmanuel “The Flippin’ Manual” Sharp is on your side.
If you need another infusion of cash, give me a ring.
Boo ya!
- e
PS - Gotta run. A client of mine needs $117k and I think MBNA just pooped their diaper.
*
chronic
December 11th, 2006 at 8:52 pm
Wait Clay Aiken is gay?
*
Don't enhale the serin gas
December 11th, 2006 at 8:55 pm
Damn it, Homey are you serious? I keep getting this spam for Christian Lending? Maybe be you are right. I think we need Sputnik back to poop in some shoes.
*
dumb da dum dumb
December 11th, 2006 at 9:07 pm
casey i dont get it,
“They promised to get me at least $50,000 of unsecured credit within a short period of time. With or without a personal gurantee!”
i looked at their site and its obvious that they ’sell information” (to suckers) not give loans?
and cashcall….remember them?
if you borrow $5000 you have to pay back $20000
(not a mistake, twenty THOUSAND)
its up front in their RATES page!!
*
Les
December 11th, 2006 at 9:10 pm
“They promised to get me at least $50,000 of unsecured credit within a short period of time. With or without a personal gurantee!”
So, you actually had a conversation with these people????
I think you’re in a manic phase again (not sleeping is a big clue). You are now hearing voices - common in the manic phase.
You need to go to the HOSPITAL NOW!
St Luke’s Behavioral Health Center
1800 E Van Buren St
Phoenix, AZ 85006
(602) 251-8535
www.stlukesmedcenter.com
Arizona State Hospital
2500 East Van Buren Street
Phoenix, AZ 85008
602-220-6000
Banner Good Samaritan Medical Center
1111 East McDowell Road
Phoenix, AZ 85006
602-239-6990
St. Joseph’s Hospital and Medical Center
350 West Thomas Road
Phoenix, AZ 85013
602-406-3000
You have a mental illness - it is very serious. Get treatment - please!
*
Nigel Swaby
December 11th, 2006 at 9:24 pm
Rewrapping an unwrapped wrap. The Highland home is not in foreclosure.
Photos included!
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Wikifortune.com
December 11th, 2006 at 9:29 pm
Mr. Casey sir.
Right now for you:
REALITY = 10
CASEY = 0
But after you go through UNLIMITED CORPORATION FUNDING
you will be:
REALITY = 0
CASEY = 10
…in a dream world.
*
BelowTheCrowd
December 11th, 2006 at 9:45 pm
The shyster in those videos implies (but never says) that the limits that apply to personal credit (loan to value and debt to income) don’t apply to corporate credit.
The reality is that business credit is even more tightly controlled than personal credit, and these two items will get even more scrutiny if you’re a business than if you’re a person.
The reason is simple. As a person, they can force you into a repayment plan that will have you paying them for the rest of your natural life or at the very least ruin your credit for the next seven years. This provides the lender with a degree of certainty that you will pay them back. An incorporated business can file for chapter 7 bankruptcy and effectively disappear. So they’re a lot more careful. If the business doesn’t have a very good record and good scores, the chances of getting such a loan without a personal guarantee is roughly zero.
-btc
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testimonal for Secret Book
December 11th, 2006 at 9:50 pm
I also listened to the Secret Book. If I can do this anyone can. I am an idiot. All my life people have called me an idiot. I purchased the Secret Book Seminar. I will do 12 deals next month, and I will be a multi-millionaire in 5 months. The Secret Book Guru told me so when I gave him my money. I recommend the secret book to you and everyone else Casey.
*
walt526
December 11th, 2006 at 10:00 pm
I’m watching the South Park where Cartman pretends to be retarded so that he can win the $1000 prize in the Special Olympics. Only he gets his butt kicked by all the real handicapped kids, so he gets a special award–the Spirit Award–for finishing last. For some reason, that type futility seems to permeate this blog.
*
Aelfscine
December 11th, 2006 at 10:13 pm
We seem to be reaching a paradox, and I’m not really sure how to resolve it. The things that Casey is saying and doing appear too idiotic not to be scripted. It is becoming unfathomable to me that someone could be in this much denial, be this deluded.
But if this whole thing is a scam or a joke, what’s the point of it? Trust me, he’s not cashing in big time from AdSense. A good click-through-rate on there is 1%, and you’ll often get paid ten cents an ad. (it varies a lot, though. I’ve gotten $2 from one click on my own site before) Point is, someone a while back was saying Casey’s making thousands a month from his AdSense; there’s just no way.
Is he ‘making big money from shilling Corporation Brokers?’
Again, he might get some pocket change, but nothing major, especially since they’re obviously a scam.
And for a prank/social experiment, it seems awfully lengthy. If it’s been someone’s semester project, most schools are on their way to break right now. That Girl Emily was a shill, but it was only a two week shill. I don’t know how long LonelyGirl went, but this blog seems like an awful lot of work just to wrap up with ‘Watch Court TV!’ or the like.
And so, I remain puzzled.
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I think casey jumped the shark
December 11th, 2006 at 10:20 pm
I have rapidly come to the conclusion in the last couple of days that casey is perpetuating additional fraud on the readers of this blog.
I wont go into what others have said but rather comment on what I havent seen pointed out yet.
I think Nigel Swaby or whomever he is is part of the casey fraud on this site…just click on his name and look at the pictures.The before and after pictures are not even of the same house….they are not even the same style.
Amazing how a tree grows that big in the front yard and how they are taken at different angles and times of the years.
Amazing that the basic style of the houses are different too (no not the stucco) ..look at the porches.
nigel is a fake as much as casey.
*
Tim, from Monterey Bay area
December 11th, 2006 at 10:24 pm
Looks like Casey bought his last 5 or 6 properties in the worst year in the past 10 years.
Not a good time to be betting on a real estate turnaround, at least not in the Western U.S.:
http://www.sfgate.com/cgi-bin/.....726S75.DTL
”
With few exceptions, Western real estate expected to stagnate
By RACHEL KONRAD, AP Business Writer
Monday, December 11, 2006 04 57 PM
Printable Version
Email This Article
Get Quote:
Symbol Lookup
Main Business & Finance Page: Stock quotes, portfolio, funds and more…
Small Business Center: A new resource for small businesses. Get expert advice, forms and more.
SFGate Technology: It’s a high-tech world - - we just plug you into it…
(12-11) 16:57 PST Antioch, Calif. (AP) –
Donald Anthony slashed the asking price on his four-bedroom, two-bathroom house by almost $80,000 — and added $40,000 worth of improvements, including a new kitchen and leafy landscaping.
He’s used three different agents. He listed the 1,800-square-foot home — an immaculate ranch on a quiet cul-de-sac — on for-sale-by-owner sites, in newspapers, on cable television and the community site Craigslist. He or his agents have spent at least 50 idle afternoons hosting open houses.
But the 74-year-old retired physicist cannot unload the house, now listed at $489,950 — well below the price of comparable homes in the fast-growing region between San Francisco and Sacramento.
“Buyers have vanished,” Anthony shrugged in front of new Shaker maple cabinets and never-used appliances. “If this doesn’t sell post haste, I’m going to bite the bullet and pull it off the market.”"
–Tim, from the Monterey Bay Area
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Jackie Treehorn
December 11th, 2006 at 10:40 pm
The Chinaman is not the issue here, dude.
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Max Stein
December 11th, 2006 at 10:45 pm
This is an awesome thread for so many reasons. Where do I begin? I suppose I’ll start at the top.
Rob P says - FYI, Casey: I have never clicked through on any of your ads. Never have, never will.
You don’t have to for Casey to make money. It’s called CPM. Look it up.
Cow_tipping - it’s not adviced, it’s advised…like Casey spells advise (advice).
Casey’s Serin Story is a HUGE LIE - Just because you say it, doesn’t make it so. Please provide real evidence.
Homey Da Clown - You’re funny…you’re a joke.
ConMan - Your comments don’t get moderated because Casey’s fake, they get moderated because you’re an A$$hole.
Everyone else…you’re right.
Casey, forget about this “corporate credit” scam. And learn how to spell lose!
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paypal sucks
December 11th, 2006 at 10:50 pm
Nigel is not a fake. Hell, Nigel is probably the only real person on this site
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Max Stein
December 11th, 2006 at 10:54 pm
I think casey jumped the shark…
I think you’re a dip$hit. Why don’t you post your “real” address and see if the “fake” Nigel Swaby doesn’t come kick your A$$?
Max
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yneone
December 11th, 2006 at 11:17 pm
Speechless. I’ll be perusing the blog but I will be mum for awhile. Casey, your in my thoughts and prayers.
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yneone
December 11th, 2006 at 11:25 pm
Okay, maybe after this post. Nigel visited your website..very informative. That house had major improvements. They did a good job. Glad the deal in Utah didnt fail. Hang tough Casey.
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GC
December 11th, 2006 at 11:29 pm
Not even Casey is clueless enough to actually be serious in today’s post. These fine folks are obviously a sponsor, and Casey was paid to pimp this wonderful program.
*
Leigh
December 11th, 2006 at 11:36 pm
I have been reading your blog for about 6 weeks now, and I am so appalled. My husband and I work full time jobs, along with 2 of our 4 teenage daughters who work part time while going to school. We have one daughter in college, and have provided 3 of them with reliable used vehicles. My husband rides the bus to and from work. I drive a 22 year old car. The reason in a tight situation? We failed to file our taxes properly in 1997 when we took a large chunk of retirement money out early to buy a home. We did not do what we needed to do. We lost the home we lived in to foreclosure. Because of the penalties and interest that accumulated before we decided to actually TAKE CARE of things with the IRS, our 7k debt turned into 40k in about 7 years. I blame no one but ourselves. We are paying this back now, and as broke as we are, we can at least sleep at night not wondering about what is going to happen next. Why am I telling you this? Because we had to explain to our daughters why we are not having Christmas this year. We simply do not have the extra money. Our furnace went out in late November and the $800 we had saved for the holidays is gone. My daughters are terrific and did not shed a tear about it. You know when I cry? When I read about someone like YOU having a better holiday than people like us. You need to stop creating more problems, and start creating more solutions. I wish you luck.
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G-man
December 12th, 2006 at 12:15 am
Casey, if you’re not just advertising for this “Corporation Brokers” but instead you are actually considering it, take a look at John T. Reed’s Kiyosaki page again:
“Kiyosaki says “much of [the $19,000 a year interest income is] sheltered through our private corporation.” In fact, corporations do not shelter income. The corporation’s income is taxed when received … When that income is subsequently distributed to Kiyosaki, it will be taxed again at individual rates. [taxed twice!] … Accountant Bob Baldassari of McLean, VA says he and his colleagues almost never advise a small real-estate investor to incorporate because the disadvantages far outweigh the advantages.”
“None of my [Mr. Reed’s] rich friends make any use of corporations. I became a millionaire in 1983 and never used a corporation. … Most real estate investors do not use corporations.”
“In some states, the owner of an incorporated company cannot represent himself in small claims court and must hire an attorney for every little legal matter”
*
G-man
December 12th, 2006 at 12:34 am
There’s another famous scandal to add to JTR’s mention of Dennis Kozlowski:
SEC Charges Adelphia and Rigas Family
With Massive Financial Fraud
“…Such self-dealing included the use of Adelphia funds to … pay off personal margin loans and other Rigas Family debts … diverted $174 million in Adelphia funds to pay personal margin loans of Rigas Family members.”
Better ask a lawyer Casey to make sure that ugly stuff is totally different than “Idea #1″ (at 2min 15sec) in the second video: “… borrow against the Corporation to Pay off your Personal Debts.”
*
Jacks
December 12th, 2006 at 3:42 am
I use corporations for my businesses and I have corporate credit with very high scores and ratings from DnB, Experian and Equifax.
MOST accounts that are worth getting require a PG ( personal guarantee w/ credit pull)..Which usually means a 680+ and clean credit.
You can get things like an Office Depot card, Home Depot, a few gas cards,etc- without PG, but major credit cards will pull personal credit of the guarantor officer.
Also, anyone who PAYS someone to learn about corporate credit is probably an idiot. All this info is available for free online at various credit forums and finance websites.
I honestly find it strange that people involved in business do not know anything about “corporate credit.”
*
Jacks
December 12th, 2006 at 3:52 am
You also can’t just have your corp “pay off” your personal debts. You MIGHT be able to structure it as a loan or equity investment. Otherwise it would be taxable personal income.
In your situation this might be irrelevant anyway, since you probably cant get it.
Corporate credit is NOT for people with bad credit. It works best for people with GOOD personal credit and legit business ventures to keep the utlization off personal reports for long term deals.
For example, lets say you buy a house and need to do $45,000 worth of work. If you put that on personal cards, your utilization goes way up.
Open business CCs and LOC and it wont report on persnal credit ( unless you default, which you obviously will). You could get a business Line of Credit and write checks for all the work and/or use a combination of Business Visa/MC and your corporate Home Depot, Lowes,cards for supplies,etc.
If you really wanted corporate credit, you should have done this BEFORE screwing up your personal credit. However, based on your track record, that would have given you just another failure.
You shouldve never been putting the business debt on your wife’s credit cards to begin with.
At this point I certainly wont advocate a fraudster who is in debt committing more fraud to obtain corporate credit as “backdoor.” And as I said previously 400-something FICOs are going to keep you from getting a lot of good corporate accounts anyway.
If you pay someone for corporate credit establishment, you have serious problems. This is almost as bad or worse than paying for RE “guru” camps and your FAKE “education.”
*
Hater Mike
December 12th, 2006 at 6:05 am
“shoe-box of receipts”… freakin classic. A shoebox does not a business plan make
“One of my goals this month is to get the crazy accounting mess from this year under control”… The month is almost half over. How about a progress report on your previously stated goals for the month
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Unbelievable
December 12th, 2006 at 7:09 am
@ I Think Casey Jumped The Shark
“I think Nigel Swaby or whomever he is is part of the casey fraud on this site…just click on his name and look at the pictures.The before and after pictures are not even of the same house….they are not even the same style”.
TAKE ANOTHER LOOK, IT’S THE SAME HOUSE
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Cara
December 12th, 2006 at 7:23 am
“I think casey jumped the shark”–
You didn’t see anyone else make the points you did because your “points” are WAAAY out there.
*
Sam
December 12th, 2006 at 8:06 am
KEEP POSTING hOMEY dA cLOWN
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G-man
December 12th, 2006 at 9:16 am
@Nigel Swaby:
“…Did you see the testimonial page for this corporate credit website? They all referenced the previous scam name: Business Development Systems…”
Nigel, I’m guessing you were smart and didn’t bother watching the videos - the speaker states at the beginning he’s from “Business Development Systems”… but I checked out that Testimonial page and what’s with the DVDs at the bottom being referred to as “FREE” - in quotes and all caps? So they’re not really free in price? Hopefully it means Casey only had to pay shipping and handling charges or could “FREE” be an acronym for:
Funding my
Retirement
Early off of
“Entrepreneurs”?
*
Mr. Flipper
December 12th, 2006 at 11:03 am
To “I think casey jumped the shark”
“I think Nigel Swaby or whomever he is is part of the casey fraud on this site…just click on his name and look at the pictures.The before and after pictures are not even of the same house….they are not even the same style.”
Psst! Hey, Jump the shark!
Shhhh…look up in the sky! There’s the mother ship. Click your heels three times and they’ll beam you back up.
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digerati
December 12th, 2006 at 3:28 pm
I don’t think you can use a corporate loan to pay off personal debt. If you do and the corporation tanks on anything then they can just come and take stuff from you anyway.
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Easy Living
December 12th, 2006 at 4:47 pm
Casey,
I have an exciting new financial offer for you. It’s called the “Shoebox Integration Financial Tool” (SIFT) and is designed to sift through unorganized archives of paper receipts and construct an organized electronic financial profile.
My standard price is $2,995 for “Cordovan Tasseled Level”, but if you act immediately (I realize that immediate means at least 60-90 days for you), I’ll reduce the price to $1,995.
AND, I’ll throw in a Super Sweet Jamba Juice (SSJJ) gift card for $40 (you can use $7 of it for the juice, and $33 for overdraft!)
Operators standing by.
*
BelowTheCrowd
December 12th, 2006 at 5:36 pm
G-Man,
Reed’s advice about corporations is fairly simplistic and in many cases untrue. Most specifically, he fails to distinguish between the various types of corporate entities and the manner in which they are taxed. LLCs, S-Corps and C-Corps are treated differently (the first two don’t have the double-taxation problem, but are limited in other ways).
Depending on what you’re doing, a properly defined corporation can be beneficial to some people in some situations either in terms of taxes more easily avoided (not evaded, there’s a difference), liability reduction for passive investors, etc. Kiyosaki’s advice is simplistic and implies that there’s some great hidden secret that rich people know, which isn’t really the case. However, Reed’s criticism is pretty specific to his own situation and business model, and might not be right for others.
I recently had the opportunity to hear John E Anderson speak about business formation (look him up) and his main point in the discussion was that choosing the proper structures and organizations mattered a lot for the long term success of the business. It didn’t matter more than having a real solid business plan and ability to excute, but it wasn’t irrelevant, as Reed seems to imply.
That said, a corporation is not useful for Casey’s purpose, which is to say as a shell vehicle to allow him to run up more debt. And you sure as hell don’t need to pay $4,000 for advice on doing it. My lawyer isn’t cheap, and he only charges $1000 - $2,500 depending on how complex your organization needs to be. Alternately, you can spend about $150 to have somebody file the paperwork in Sacramento and download articles of incorporation and organizational minutes from dozens of websites out there.
-btc
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Turn Yourself In
December 13th, 2006 at 10:07 am
Casey my immigrant fraudulant friend.
Today, Jeffery Skilling is due to report to Prison for the next 24 years.
Will you turn yourself into the FBI as Jerome recommended you do? Or will you hold off longer costing the honest tax payers money while the prosecution prepares your case?
We tax payers want to know.
*
Mark
December 13th, 2006 at 10:48 am
That’ll work.. Borrow Yourself Rich!… worked so far, hasn’t it?
*
Jobu
December 13th, 2006 at 1:07 pm
All these sweet deals are giving me a cavity.
Bartender, Jobu needs a refill.
*
J. C. Ernharth
December 13th, 2006 at 3:39 pm
Casey… Casey… Casey… Please tell me this isn’t real. Either this is all about promoting other’s products, or you are a reincarnated 3-time buyer of the Brooklyn Bridge. Watch out for Africans desperate to get their millions out of Nigeria.
*
MICHAEL DOTY
December 21st, 2006 at 12:24 am
CASEY NO!!!!!!!!!!!!!!!! Please don’t tell me you are falling for scams. I think Kevin made the most sense when he said, it will be very easy for creditors to prove in a court of law that you have “peirced the coporate veil.” Taking money from your coporation without paying yourself is a no no! You must keep your corporation totally seoerate from your personal life. You can give yourself a raise if you had enough cash flow in your account. But it must be from a check you issue yourself as an employee of the corporation. Then from there pay the debt. There are many options out there but only a few smart ways to go.
Judging from your situation I would seek advice from real estate professionals. Get a mentor. Someone to show you how to properly invest and one that makes smart financial descions. remember, you don’t need to have all the answers. thats why you build a succsessful team of professionals you can trust as advisors to you.
Think about it? If I offered you 250K for your business and only charged you a very low interest rate either way you look at it you will not be doing yourself justice. You would actually be putting yourself into slavery because it would take you over 5 years to pay it off. Thats WITHOUT interest.
Don’t get me wrong there is good debt and bad debt. Not all debt is bad. The type of debt you have could be turned into good depending on the appreciation of the properties you own. Also how savvy are you when you make your investments? Are they good or bad investments? What is your projected cash flow when going into these investments? do you just buy real estate that you think will sell or that you know will sell? there is a difference. If you are buying residential real estate you may want to look at the property value of homes around that area. One way you could do this is by having a real estate agent do a comparitive market analysis (CMA) as I am sure you already know.
Also you said that you bought 8 houses in 8 months that doesn’t seem to smart. Not to down you because I get excited to when I think there is a sweet deal in the making and sometimes you feel like you just can’t pass it up. The truth is you should have used the excess money you had of course AFTER you did all the research, to make your flip a masterpeice. QUALITY is better than QUANTITY. If you concentrated on one house or even 2 houses at a time you could’ve made a substancial profit and built up enough revenue to hire a employee or get another investor to take a peiece of your project so you could concentrate on more homes together. Remember 2 is better than one and three is better than two. Bottom line is no one is self made. The biggest corporations have dedicated employees and investors.
Hope this helped.
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