Ever since I started falling behind on payments there has been a significant increase of mail. It was bad enough before - keeping track of mail on 6 active properties: mortgage statements, utilities, insurance, etc. On top of that we have over 11 business/personal credit accounts and all the personal mail too.
Now that I am 3-4 months behind on mortgages and about 2 months behind on my credit accounts, the volume of mail keeps growing.
My wife is the one that usually handles mail and paying bills (she has the perfect Inspector Guardian personality for it). However, she has been busy with homework and tests lately. So I have to pitch in.
I feel overwhelmed by all this mail. But I need to go through it today. I must fish out my wife’s bills so we can pay them. We’re trying to save her credit score through all this. Her share of the bills is much smaller then mine. We’ve actually been able to float her bills somehow. That’s a blessing!
As you can see, I am starting to receive “Stop Foreclosure” type of mail and postcards. Some of them are quite creative. Since I myself have been trained in Foreclosure seminars on how to market to those in distress, I enjoy seeing some of these pieces for future ideas. It is also a good way to meet local foreclosure investors and see how they can help me.
It’s ironic that I was learning how to buy foreclosure earlier this year and now I am the distressed seller facing foreclosure. Now I know what it’s like.
The foreclosure class instructor was joking one day “If you feel lonely just stop paying your mortgage, and you’ll get some mail”. Wow, little did I know then that it was going to be me soon. I remember laughing at that joke. Not too funny now.
Wait a minute… why am I getting foreclosure postcards?
That normally doesn’t happen until the Notice of Default has been filed. After the borrower is 3-4 months behind, the lender files this public document to notify the world of the default. That’s when the foreclosure timeline really starts. And that’s how the (vulture) foreclosure investors find you.
Uh oh… It must have happen (N.O.D.)! It’s been long enough and I have been expecting something in the mail about it. That’s probably what that certified mail (with green stickers) is all about.
Lets find out…
[check out my detailed response to all the comments.]
99 Comments
October 25th, 2006 at 11:55 am
WHy do you consider foreclosure investors “vultures?”
October 25th, 2006 at 11:57 am
OMG Casey, this just can not be for real. If it were you surely wouldn’t be so cavalier about all this. You were really good at first in reeling people in but over the last week you have gotten more and more careless and have enve stopped addressing comments by the people posting on the blog. This newest post just confirms that this has got to be a huge hoax. I really hope you get everything coming to you.
October 25th, 2006 at 12:08 pm
GOT ANY LIFE INSURANCE???? KILL YOURSELF
October 25th, 2006 at 12:16 pm
I just looked up “idiot” in the dictionary.
Yeah, they added your picture.
October 25th, 2006 at 12:33 pm
Another nicely staged photo. Nice touch adding in the apples.
You make me puke.
100% a scam. This entire site. There is something going on here that is not kosher. Too many staged photos. Too many unanswered questions. Think about it. He got what he wanted, national “publicity”, a following, and now free nationwide marketing.
Wake up people. Do not patronize this a**clown.
October 25th, 2006 at 12:43 pm
[…] I don’t want to kick Casey’s dreams. Dreams are good, and I think people should pursue them with gusto. Too many people make a practice of telling others why their plans won’t work instead of lending support. But when your dreams are at odds with reality, you need to re-evaluate. […]
October 25th, 2006 at 12:46 pm
Anon
*Applause*
October 25th, 2006 at 12:55 pm
google earth this and you can see where he lives
[address removed for privacy]
October 25th, 2006 at 12:57 pm
I’d rifle through your mail and see if you got a reality check. You could really use one.
October 25th, 2006 at 12:58 pm
I’ve got to commend Casey on his excellent presentation today. I also thought the apples were a thoughtful touch, and the tastefully arranged fan of registered letters containing, presumably, notices of default. In fact, I’ll offer Casey $200 to take MY pictures and do the publicity for my new online dating profile. But only if I get to sit on the blue ball.
I actually laughed out loud when I read the line “Wait a minute… why am I getting foreclosure postcards?”
You mean, you’ve been so busy blogging and bird-dogging that you forgot to open your mail for a month? I guess its really all out of your hands at this point.
I think what this blog needs, for added credibility, is some neatly scanned, carefully redacted pictures of the ACTUAL foreclosure letters. That’ll shut up the unbelievers once and for all. Also, if Casey could forward us his actual address and home phone number so that we can send the information to the DA’s fraud hotline, that would be a big help.
I really think that what Casey needs now is a visit from the law to really shake things up in Cyberspace. Then perhaps in time for Christmas, USA Today can do a follow-up piece?? No presents for you this year, Casey….
PS, did you take my advice and buy a plane ticket overseas yet? Do you have a passport? If not I would strongly encourage it, just in case. I hear that the Sudan is booming… I read it in the Sunday FT. Maybe you can do some RE deals there?
Cheers!
October 25th, 2006 at 12:59 pm
Aaron you complete retard, what you saying, he lives in a strip mall? That’s the address of his CPA. You’re stupider than casey.
October 25th, 2006 at 1:04 pm
Same thing happened to me….just not as bad as you!
October 25th, 2006 at 1:07 pm
the fact that he has a CPA…in that kind of debt. This is pure B*LLSH*T
October 25th, 2006 at 1:07 pm
Maybe Casey is the James Frey of the housing bust.
October 25th, 2006 at 1:09 pm
more than likely that is a PO box he uses. you can put suite as an address rather than box number at the local mail-it center to make it look more legit.
October 25th, 2006 at 1:28 pm
What is with publishing your address on a website that is frequented by, I would guess, thousands of people? Half of whom seem to think you are the scum of the earth and should either be killed, or kill yourself…
Ohh well…
October 25th, 2006 at 1:35 pm
Even though the suite 140 comes back as listing a CPA, it also has lots of other business names, including UPS store. Looks like its just a mailbox.
October 25th, 2006 at 1:40 pm
I retract all my earlier posts. Although I cannot physically retract them I am publicly stating here that I was wrong about this entire thing.
Casey Serin is not, as I thought, a simple fraud and poster boy of the richdad millionaire seminar drones.
He is one. Rather, he is a marketing mechanism. I should have listened to the earlier posts — most of them a single sentence long — which warned that this site was a hoax, scam, viral marketing, etc.
Someone said we’d see a dramatic recovery, and then discover which richdad millionaire books and method a seemingly doomed Casey used.
I shall not be here to see that. Good luck richdaders. May all your loans be fraudulent and all your speculative flips be flops.
October 25th, 2006 at 1:41 pm
So the Feds will have to set up a sting to arrest him for fraud.
Casey better work up some disguises for getting your mail. I’m sure plenty of folks have sent SAR notices about you.
October 25th, 2006 at 1:46 pm
why so many mean spirited comments?
October 25th, 2006 at 1:54 pm
Casey,
Have you checked your credit score lately? I’d be awfully insterested in what it is.
Also, have you thought about running away to Mexico? You still have maybe a week or two left. RUN FOR THE BORDER!
October 25th, 2006 at 1:55 pm
I too wish this all to be some sick crazy hoax. But it isn’t. That address is just a maildrop but I have checked out Casey and his situation out and it’s real.
My only explanation for what Casey is trying to do through this blog is that he thinks he can talk his way out of anything. He thinks of himself as a genius above most others. He thinks if he generates enough sympathy, he’ll get off the hook for the crimes he’s committed. Maybe he thinks someone will pony up a few hundred grand and pull his a** out of the fire. Maybe he think’s he log on to Paypal and see someone’s transferred a million dollars to him. Regardless, the people who think his story is fake are giving him too much credit. A bozo who got himself in a financial mess like this in less than year could not be capable of pulling off a hoax of that magnitude.
Like everything else that Casey believed he was so smart about, he’ll end up wrong about this too. This blogging adventure and everything else he’s doing with his time right now will blow up in his face. Just like his real estate “investing”. He’s the most deluded person I’ve come across in several years.
I might have a tinge of sympathy for the dude if he was working day and night right now for a real income instead of pissing around with a blog, ridiculously impossible pipe-dreams and furthering his fantasy of “running a business” and being a “real estate investor”.
October 25th, 2006 at 2:03 pm
we will see him on an infomercial touting some ‘ghuru’s genius way’ to make money. more than likely this is all a setup. see ya. waste no more time on this POS.
October 25th, 2006 at 2:10 pm
You’re gonna need those apples later, so don’t throw them out.
October 25th, 2006 at 2:18 pm
Casey/Vladimir? Brilliant marketing campaign. When are you going to give us the first set of clues what you are trying to sell?
October 25th, 2006 at 2:31 pm
Anon, you wasted the first comment by not including a joyous “first post!”
Hey Casey, show us more of the letters and offers you get, not just Shirley’s.
October 25th, 2006 at 2:32 pm
*Anon*
You are the greatest thing on here.
October 25th, 2006 at 2:43 pm
Casey,
You are a monumental dipsh**.
I can not believe someone could be so incredibly stupid.
Good Luck
Sam
October 25th, 2006 at 2:44 pm
Is Casey breaking his own rules by spending more time than he allotted himself for blogging?
Not that I’m surprised or anything.
October 25th, 2006 at 2:58 pm
re: “When are you going to give us the first set of clues what you are trying to sell?”
Don’t you see? Casey is trying to sell himself. He’s reckons himself a genious, someone with experience, someone who can teach others “what not to do” in real estate. Don’t you recall him asking, “How can I help you”.
Truth is Casey can’t help himself. Almost everyone already knows to not do what he did in real estate. It’s called common sense. Something Casey desperately lacks. And if Casey really was so smart, he’d have never gotten himself into this mess to begin with.
I know where Casey is at right now. I’ve seen it before, most recently in the dot-com crash. He can’t let go of the dream and has yet to even realize it all really was just a dream. He’s still in the “I can pull out of this and turn it around mode”. Like those who were in likewise situations, I’d imagine he’ll ride this down all the way to the bottom, which can’t be too far away at this point. The clock is only going to let him have so much time. He’s already used most of it up.
October 25th, 2006 at 3:21 pm
Casey, I have just received word that a relative of mine has suffered great misfortune in the country of Nigeria.
That’s the bad news. The good news is, I should be receiving a huge financial windfall any day now. I just need some money to cover the transaction. Let’s get together and work this out, I think I can help you.
Do you have any room on your calendar for lunch this week? Let me know.
October 25th, 2006 at 3:29 pm
Aaron - there’s a shopping mall at that location…
October 25th, 2006 at 3:55 pm
I pass by that strip mall every day on my way to work. There’s a UPS store, and Casey probably has a rented box there. Maybe I should stake it out?
October 25th, 2006 at 3:56 pm
Casey isn’t lying. However, he has had some interesting updates to the blog. The $3,000 loan, the pictures of bills, the rich dad office photo — it just never seems to end! I think Casey hopes he can eventually generate a decent income off the adwords from this site. And that it could help him sell his properties. He may have made mistakes investing in real estate, but he’s done a great job putting together a rather compelling story.
The question is, when does it end? Bankruptcy, indictment, or a miracle? I think he’s put himself at considerable legal jepordy by publishing this site.
October 25th, 2006 at 3:57 pm
I’ve been saying since the get-go that, assuming Casey stays out of jail, his “last act” will be to become one of those seminar pitchmen… “I beat foreclosure, you can too” yadda yadda.
I do think that his story is real, though.
October 25th, 2006 at 4:01 pm
I want to add that Caey has giving me hope and motivation. I’m responsible for a $50,000 investment. The company we invested in needs to raise more funds to become profitable. I’ve been kind of stressed lately as development has been slow. I’ve been thinking of how I could possibly repay this money if the investment doesn’t go well.
Anyway, it helps knowing someone is facing a much bigger problem and seems to be handling it rather well! Good luck.
October 25th, 2006 at 4:01 pm
If Casey would consent, I would run a credit check, laugh, then post it with specific personal information blacked out.
Is it possible to have a two-digit credit score? I haven’t looked closely at the algorithm but maybe Casey could do it. Casey, maybe apply for credit everywhere. Put in 10 apps/day. That should help.
October 25th, 2006 at 4:14 pm
gee, that’s an awfully nice arrangement of well-selected materials on foreclosesure and money you have there. my compliments to your art director.
i bet Citi and Tmobile feel retarded for paying you to include their logos. yea, i noticed how you went out of your way to show the Tmobile letter - instant giveaway of fakeness.
you Hollywood guys are so out of touch with reality that you can’t even fake a blog. no wonder you can’t make a movie or show that people want to watch!
i’m willing to bet 1/3 of the comments here are people working at your company. 1/3 are too dumb to know better, and the rest of us know this is a scam. why don’t you guys hire a real producer or screenwriter and make something worthwhile?
October 25th, 2006 at 4:20 pm
I have lost patience. He’s in total denial. Either this is a scam or he’s one of the most naive an arrogant people I’ve ever heard about.
Let’s see if this gets published.
He’s into marketing himself.
He really doesn’t show remorese; he’s still looking for an easy way out.
October 25th, 2006 at 4:28 pm
Anon: Nice to hear that you once enjoyed fine literature. It is a bother to read as much as one would like these days. Keep up the great work, and I’ll remain in your fan base.
For those who think this site is fake, I can only point to the following:
1) The San Francisco Chronicle.
2) KRON, Channel 4
3) USA Today
4) However many other mentions there were.
5) Public housing records.
Granted, these aren’t the New York Times or 60 Minutes, but I’d think if this were fake at least ONE of them would have caught on or found something suspicious… further, all the records check out. These are real houses, that he really is in debt for, and he’s really trying to do something about it.
Yes, this would be an incredibly brilliant artistic statement if it were all a lark. It still would be brilliant if he has merely decided to destroy his own credit rating (and possibly his freedom) with the goal of crashing and burning in as public a fashion as possible, for the sake of art. The fact that the photos look so staged (Blue Ball should be in the MOMA) only helps this cause. He has managed to walk such a fine line between credulity and non… and all we can do is admire it. This may be the best performance art since the Internet came of age.
I know I can’t stop watching.
October 25th, 2006 at 4:36 pm
Dude,
If you go out in a boat every day to catch bass and always come home empty handed; Are you really fishing, or are you just feeding the fish?
You are not a a real estate investor. You are a lazy, deluded child who believes anything.
If the gurus who teach these real estate courses were so talented in real estate investing, they would spend their time investing in real estate, not teaching you to compete in their market.
Why would this “Rich Dad” guy even let you hang around a succesful office with all of this publicity?
My guess is that either this is indeed a scam or Richdad has some blue balls of his own he would like you to sit on.
October 25th, 2006 at 4:40 pm
I’m still too lazy (or cheap) to look up Casey’s public documents. However, I find it hard to fathom that his story is fabricated whole cloth. Property documents are easy to check up and difficult to fabricate. If someone can run a credit check that verify Casey’s statements - that would provide near 100% certainty that Casey is in major major trouble of some sort.
However, it is possible that Casey got into terrible trouble and got “rich dad” to bail him out in return for orchastrating this publicity stunt. He would still on the hook for fraud prosecution and will get to know the IRS very well, but that would be the best possible outcome for him.
Or…if I base my judgment on what I vaguely remembered from my college abnormal psychology class…Casey has a sociopathetic personality and he doesn’t believe he is really in trouble. I suppose I should be glad that Casey only committed fairly small scale and easily detectable fraud and not…oh, say poison his entire family for insurance money…or find a death cult.
October 25th, 2006 at 4:43 pm
I gotta admit, I don’t think this is a scam, at least not in the sense that the whole thing is made up.
I worked for a TV show in Hollywood, and if it was professionally staged (as opposed to being staged by amateurs) it would be slicker. Plus, I live in the area and recognize a lot of the landmarks.
Additionally, I agree with AOWA, USA Today and others will check and verify the legitimacy of the story. I’ve worked in both TV and newspaper, and stories of this nature are generally not run without some sort of background check. USA Today might be a lightweight publication, but they have the money and resources to check this out.
If, however, this turns out to be a scam, then shame on the media outlets that didn’t do their job and expose it.
October 25th, 2006 at 4:46 pm
The site just might be fake since everyone knows you can’t loose money flipping homes (Real Estate always goes up since they aren’t making land any more)…
October 25th, 2006 at 4:46 pm
“Another One Who Admires”
see, that’s one of the people working at your company.
let’s see:
“Yes, this would be an incredibly brilliant artistic statement if it were all a lark.”
“This may be the best performance art since the Internet came of age.”
“I know I can’t stop watching.”
are you retarded?
then there’s stuff like this:
“Granted, these aren’t the New York Times”
citing the NYT as a more credible source than what you already have is a bad idea lol. (only some lunatic in Hollywood could think NYT has any credibility.) USA Today etc are obviously in on the scam, if not explicitly, then through their contacts with the producer’s publicists.
October 25th, 2006 at 5:37 pm
This whole debate over ‘is this’ or ‘is this not’ a scam reminds me a lot of the 9/11 South Park episode. It goes a little like this
Kyle: “anyone who thinks 9/11 was a conspiracy by the government is a retard.”
Cartman: “did you know that 1/4 of Americans think 9/11 was a conspiracy. Are you saying that 1/4 of Americans are retards?”
Kyle: “yes, 1/4 of Americans are retards… at least.”
And, not coincidentally, 1/4 of the posters on this blog ALSO think this blog is some giant conspiracy by “The Media” to sucker us into buying some crappy Get-Poor-Quick book.
October 25th, 2006 at 6:09 pm
Jim, I don’t think this is a scam in the sense that “THE MEDIA” is involved. In fact I do believe that Casey is in pretty deep. However, either (as astrid said and I whole heartedly agree), Casey is a sociopath and needs immediate psychiatric attention OR he is greatly embellishing for the attention or maybe both but this thing is definately on the up and up.
October 25th, 2006 at 6:12 pm
So you open letters? WHAT’S THE VERDICT?
October 25th, 2006 at 6:29 pm
Anon,
*Applause* Count me as a part of your following.
If Casey was smart, he would offer to make you a contributor. Some kind of point/counterpoint - midget v. kangaroo wrestling match.
Maybe do some kind of “sane eyes for the crazy guy” makeover.
October 25th, 2006 at 6:29 pm
LOL…I could care less about this kid as he obviously gamed the system and got exactly what he deserved, but I AM A FAKE…sorry, but the NYT has more credibility than you and I am not a Hollywood elitist NOR am I a libbie.
Man you people are maroons as well. The enjoyment you are getting from this kid’s story makes me understand why the party in power gets away with destroying our country day by day.
They rip down basic regulations so the likes of Casey can get all the loans his greedy little heart desires. Then maroons like you sit here and judge him. Guess what? If this is all a scam, he’ll pay. Nobody will buy his book or movie. If this is real (which it appears it is) then he has a lot of crap to dig out from.
Guess what, party firster? Us independents/moderates/libertarians will take back this country and strengthen accountability for folks like Casey.
LOL…time to end the days of borrow and spend. The congress, President, GOP and Casey will learn. But then again, if we continue to poo-poo the Caseys of the world, we deserve to fall as a nation
October 25th, 2006 at 6:42 pm
Man you people are maroons as well. The enjoyment you are getting from this kid’s story makes me understand why the party in power gets away with destroying our country day by day.
And you’re not? You’re here, reading the blog and the comments; stopping long enough to comment yourself and insult everyone else in the process. So, how do you figure you’re above the rest of the rabble here?
This reminds me of when I worked as a waitress while I was in college. You could always pinpoint the guy who had no authority in his real life. That was the guy who’d come in, order the waitresses around, tell us how to do our jobs and basically act like a boor until he left us with our 10% (if we were lucky) tip. You remind me of that guy.
October 25th, 2006 at 6:48 pm
“I AM A FAKE IS A JERK”
Are you claiming what I think you’re claiming?
Is Casey Serin a Republican election strategy?
Is he, in short, the gay marriage of 2006?
October 25th, 2006 at 7:16 pm
Only six and a half years! (The glory days are back!)
The nasdaq implosion (the heady days of trees growing to the sky…remember?) must once again be nigh. (Casey, you may not remember).
Anyway,
For some unknown (unknown to me anyway) reason, google is paying for advertisements on this blog.
Or maybe they are getting paid for the ads on this blog.
I submit that not one cent in profit is generated by these ads as all lurkers and posters are here for the train wreck.
(I will be interested to see if this post runs the ‘moderation’ gauntlet.)
1.4 bil for youtube?
Heck, manufacture a blog; generate traffic; in ‘Casey’s’ words: it’s all good.
Oh, almost forgot, I have another ‘out’ for you Casey. I think Betty Grable had her legs insured for an exhorbitant amount of money, as did Catherine Bach (Daisy Duke).
Even if your legs are not as pretty, you should consider this.
If, (hypothetically speaking of course), a hard money lender was to take exception to your non fulfillment of your obligations (and demonstrate such exception with appendage breakage), you could (figuratively, of course) walk away scott free:)
[You might look into arm insurance, just in case]
Oh, and you ought to consider cancelling your ‘money’ subscription.
I don’t think it’ll do you much good from the inside.
In any case, it is a scam, too, just a more ‘legitimite’ one.
October 25th, 2006 at 7:18 pm
To all who are slamming Casey: why do you keep calling him an obvious fake and then waste your time penning long, angry posts full of real-world advice? If he’s such an obvious fake (a fake now, as opposed to his faker-dom10 months ago on the mortgage apps), sit back and enjoy the soap opera. (For the record, this thing reeks more and more of a huge publicity stunt like LonelyGirl, which makes it even more amusing).
October 25th, 2006 at 7:18 pm
re: ads.
What ads? I use Firefox with Adblock and don’t see any. : )
October 25th, 2006 at 7:30 pm
The subtitle of the blog is “getting saved”. Seems like Casey already knew from the start that he would be saved.
October 25th, 2006 at 7:39 pm
PT,
“I’m done though. It’s like watching a bad reality RV show.”
Are there good reality RV shows? Which ones? We’re dying to know!
October 25th, 2006 at 8:12 pm
PT Barnum………
You have a good point, and one I really didn’t think of. I’ve been thinking of the scam from the angle of did he really “buy” all these properties? I never really thought about the angle you bring up; which is that maybe this thing has been set up, from the purchase of the properties to the “Rich Dad” bail out.
You’re right, the publicity generated off of this thing has been huge and maybe we have all been suckered.
Maybe it is time to quit watching the Casey Show.
October 25th, 2006 at 8:19 pm
Casey
A few threads back a guy said he’d tried to contact you about buying one of the houses. You never called him back. Have you made any efforts lately to, you know, sell the houses?
What about the new car? The NYC buyer on the Dallas property? I never believed you were a fake but the loose ends are starting to add up. How come you haven’t been commenting in the threads lately? We miss your little cropped-head thumbnail.
October 25th, 2006 at 8:47 pm
This site is almost certainly a viral stealth marketing tool. That doesn’t mean Casey is fabricating his entire story. He probably isn’t.
He’s a young guy, who may or may not be the guy in the picture, who got into trouble with the properties in this narrative. It’s even possible that “he” isn’t just one person, but a little real estate investment company (also known as flippers).
This guy or these guys got into some real trouble. Instead of pulling the plug, for whatever reason, they found a sugardaddy to bail them out. But even sugardaddies don’t just give pathetic flippers free money. Instead he/they cut a deal that if he/they could drive X traffic to a viral blog, he/they’d be bailed out. It could be close to what “Casey” claims is the story, or maybe much more complicated.
But the bottom line is that there is definitely going to be some kind of “Rich Dad Mentorship Program” pitch to follow. In return, “Casey” gets relieved of his/their debt. I doubt in this case there will be any prosecution or even tax problems. If sugardaddy pays everyone off then no one will care about the technical fraud that happened, because there won’t be any direct victims. And, it’s pretty clear that “Casey” has no genuine fear of prosecution, which tells more about the truth of all this than anything.
But there aren’t any conspiracies. Just motivate people trying to work it. And all this would easily pass the shallow fact checking that any of the mainstream media would have done. Even NPR would have just asked for one or two things that corroborate the story. These flipped homes are real, and are owned by a guy named Casey Serin, so that’s all the papers would need.
October 25th, 2006 at 10:02 pm
Casey, thanks for taking the time to address my questions. I for one still believe your story is genuine.
My advice from many threads ago re renting the houses still stands. If not then you should set a goal: start to work things out with your lenders. If the houses are going to be foreclosed upon anyway, why keep running up the penalties and unpaid payments? Deed in lieu, short sale, whatever it takes, just get rid of them. Call the relevant people and be honest: “I can’t make the payments anymore. What should I do?” You are by no means the first person in history to lose a house, or even a bunch of houses.
In the picture of the envelopes I see the names of at least 4 well known lenders. Get in contact with each of them. If you have multiple mortgages through any one lender, really focus on working with them, because they stand to lose the most and will likely press criminal charges.
When you buy a car don’t hold it in your name, and keep it very inexpensive, or it’s likely to be seized and sold for peanuts in the future. Guys like me buy those cars at auction, so I know that of which I speak.
Also see the comment by “J. Barrone” at the end of 2 threads ago. I think he makes a very good point.
October 25th, 2006 at 10:29 pm
Just need to say this:
You need to know the foreclosure and eviction laws wherever you buy BEFORE you start buying, not after you’re in a jam.
In Texas the official foreclosure period is 21 days. The sales are held at the courthouse steps every First Tuesday of the month.
Along with the foreclosure sales, they also hold what’s known as tax sales. Because in Texas the taxing authority forecloses on those who do not pay their property taxes. And they sell them on the courthouse steps, too.
But the real money is made buying the tax sale properties that do NOT sell on the courthouse steps because no one has bid on them! Those are bought directly from the taxing authority, which is a lot of times a school district.
October 25th, 2006 at 11:44 pm
Wanna make some money while you learn more about real estate?
You’re a programmer/web designer. Here’s a site that is full of internet marketers:
www.warriorforum.com/forum/
Go there and take a look around. Not a scam site. Lots of people helping other people there. Be sure to take a look at the Warrior Special Offer forum, that’s where people who create products sell their products to others. Maybe there’s something you know how to do that seems real easy as a programmer that someone who couldn’t write code won’t know how to do. Maybe it will solve a problem that a lot of people have. And maybe someone would pay good money to get that program, you never know.
Want to receive lots of beer money? When you sign up for a username on the site, be sure to input your paypal email address. Then people can click the “beer mug” and it triggers a link to send money via Paypal. There are a few people who are reportedly making 5 figures per month selling things through this special offer forum. Be sure to read the rules though; they’re kind of strict on what you can and cannot do.
Might be a great place to pick up new clients and people who need programming work. Also a great place to learn what works and what does not work in the internet marketing world.
(I only mentioned this because you’re a programmer. Many times these marketers are looking for good reliable programmers. Sometimes they end up on Rentacoder.com and get scammed, so they’re always looking for people who won’t scam them.)
October 26th, 2006 at 12:34 am
Casey, better fasten your seat belt on that blue ball because ReconTrust Co. is a specialized foreclosure machine of CountryWide and also used by other lenders.
October 26th, 2006 at 12:38 am
I have to say that I have some reservations about Casey’s story, but then again, I was an auditor before. The one thing that has me convinced that he is telling the truth is a post from another board
http://www.websitetoolbox.com/.....id=1469281
If you scroll down a bit you’ll see where one of the posters talks about Casey trying to unload his portfolio of houses at a Sacramento RE club a few months ago.
Anon, keep it up. I really love reading what you have to say - I would vote you tallest dwarf any day.
October 26th, 2006 at 1:48 am
This is getting boring.
Reading through a few dozen “This guy is a fake,” “These photos are staged” posts has gotten old. Why do you guys keep reading if you think it’s all bogus?
I guess nobody wants to give advice to Casey anymore since all he only pooh-poohs it and does what he wants: finding another get-rich-quick scheme instead of a job.
October 26th, 2006 at 5:43 am
Casey, please kill yourself. Do it before the rest of us have heart attacks from laughing so hard at your pathetic attempt to avoid paying the piper for stealing other people’s money and spending it on vacations that none of us can even dream of taking.
By the way Casey, just so you know. None of us really give a rat’s a** what happens to you. You are merely the evening entertainment for every poster on this blog. Now shut up and sing, jailbird.
October 26th, 2006 at 6:28 am
“Promoting Rich Dad’s mentoring has always been part of the future plans for me working (for free) in their office. However, I told them that I will NOT simply pitch their stuff out there for a referral commission. I said I want to be their first student and IF and ONLY if their mentoring service helps me get out of my facing foreclosure situation, then I will promote it. But at that point it will be simply a recommendation of a good solution to the facing foreclosure problem. Helping people with foreclosure is a goal of this blog. So it will be a good thing. But i’m not gonna just sell out and pitch their stuff left and right. The mention of Rich Dad’s mentoring program was a test to see if anybody is interested. They still need to develop the program before they can really offer it. Their stuff is not quite together yet. They ARE willing to take on some more “guiny pig” mentors like me. That’s why I mentioned it. And again, I will only mention it in the future if their mentoring programing actually helps me beat foreclosure, avoid filing BK and repay all my debt. At that point it will be a success story and that definately needs to be shared.”
And there you have it people.
Viral marketing at its finest.
I am outta here.
October 26th, 2006 at 9:35 am
> Why do you guys keep reading if you think it’s all bogus?
Craftsmanship. I read fiction books too, and they’re technically bogus, as well.
October 26th, 2006 at 10:01 am
Casey,
Your buddy over at USA Today has done a follow-up article on Real Estate. This time front page. You should have worked with your lenders already. They are going to be none to pleased if you come to them now. I believe you will be looking at at least a half million dollar to 3/4 million dollar loss after reading that article. You need to talk to them ASAP as bankruptcy isn’t really an option for you since you committed fraud. To keep hoping for someone to offer a bailout plan is just not very wise. better to cut your losses now(even as substantial as they will be). Longer you wait the more likely that you will be facing criminal charges and jail time. Although you probably already are facing that. If you try to work with the lenders like 2 months ago you might have a chance. Your hole is halfway to china already.
Aaron
October 26th, 2006 at 10:14 am
Oh and I am surprised you don’t know what a SAR is. It means Suspicious Activity Report.
Straight from the Federal Reserve website
http://www.federalreserve.gov/.....9/form.pdf
banks are required to file them if they suspect anything. Rest assured with all of your recent publicity several have probably been filed against you. The fact that you have not even attempted to do anything about your situation and continue giving interviews will not look good. You most likely will be made an example of for others that might feel that committing fraud is ok.
October 26th, 2006 at 10:44 am
[…] Maybe all this mail will scare you! (hey, better mail than bombs) […]
October 26th, 2006 at 11:07 am
“The Norris Group, founded by Riverside real estate investor Bruce Norris, is launching a home auction business Nov. 19 at a Cal Poly Pomona auditorium, hawking 19 vacant, investor-owned homes.”
“‘These are investors who are in strong positions, and they think things are getting worse, and they’d rather come to an end sooner rather than later,’ explained Norris’ son, Greg. ‘People are getting to the point where they cannot afford to hold on to properties anymore.’”
October 26th, 2006 at 12:19 pm
Casey,
How do you reconcile your unethical and illegal actions with your Christian faith?
October 26th, 2006 at 1:16 pm
Here is another dude who is losing a boatload of money. Odds are looking good, another 13 condos will go into foreclosure. But when? Will he give up relatively quickly? Or will he struggle to pay the $6,500/month for five years and then when the market value is 50% less than today, finally capitulate and let them go back to the lenders. What do you think, Casey? What would you do?
http://forum.richdad.com/forum.....mp;smode=1
I’ll try to make a long story short.
Basically, my business partner and I purchased several downtown condo’s over the last couple of years during the boom, most all of which had equity built in when we bought them. The idea was to hold onto them for a few years (despite $200-$300 negative cash flows on each) in hopes of gaining a little extra appreciation.
Things haven’t exactly gone as planned, and due to property taxes increasing and having to refinance some of the properties to finance other business ventures, the negative cash flows have gone from averaging $300 per month, to over $500 per month each. Take $500 times 13. OUCH.
I have a business that I am revamping that will hopefully begin to produce a some profit in the next 4 months or so, and I have an interest in a piece of commercial property that has the potential to pay off SOMETIME in the future, but I can’t count on anything at this point.
So, the question is, what is the best way to eliminate this negative cash flow situation?
I have studied up on lease options, and tried to market a small studio condo that way with no success. I don’t know if it’s the market, the size of the unit, or what, but it didn’t go anywhere for me. I still want to give it a shot, but it doesn’t look too promising at this point.
Should I look into offering them for sale with owner financing? Any other ideas? I don’t need to extract any equity, I just need to cover payments.
I have spent the past decade using creativity to build what I have and get myself out of bad situations. THERE HAS TO BE A WAY. Looking for any and all suggestions to get my creative juices flowing. Thanks in advance!
Report Abuse | Date 10/22/2006 8:33:47 PM
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Interesting enough, this is what he was saying a year ago.
http://forum.richdad.com/forum.....;s=#458527
Why does ZERO DOWN get so many people so agitated?
I just don’t get it. A down payment is security for THE LENDER, not YOU!
It doesn’t make a bad investment good. If you have to put down a bunch of money to get a positive cash flow, you are essentially trying to make a bad investment LOOK good on paper. I’m not saying that a property with a negative cash flow is always a bad investment (I do it all the time), but it seems that too many people use a down payment as a “bandaid” instead of an acquisition tool.
I know, I know, PMI, higher rates for higher LTV, blah blah. But I still don’t get it! If you borrow on an investment that MAKES you more money than it costs you, you come out ahead.
So if the higher rates are justified and we know that the down payment is the BANK’S security and not yours, why are people so against it?
Is it that people don’t feel that they can earn a higher rate of return by investing the down payment money in something else? Are they too conventional minded?
I remember having heated discussions with my uncle who is a banker about how I was somehow scamming the lender by structuring a zero down or even cash out loan. Even when I showed him that it was 100% above board he STILL thought I was doing somethng wrong. He sees it this way because it is his job to protect the bank’s money. Why do some investors see it this way as well?
Just to set the record straight, I usually DO end up putting money down on properties. Not that I WANT to, but if I have the cash and it isn’t doing anything else at the time I will use it. I am willing to use my money but I always at least try to structure the deal so the seller pays closing costs which helps lower the down payment.
If I’m not mistaken I think even RK discourages buying this way. WHY IS THIS?
October 26th, 2006 at 1:22 pm
Casey,
I’ve had a fairly successful career but not by your standards (33, own my place, have $300K in the bank) because I generally had a moderate appetite for risk.
However I recognize value when I see it. You have built up a great name and personal brand and you show some real entrepreneurial spirit. Therefore I’d like to offer a payment of $100K to you (AFTER you file for bankruptcy and discharge your debts) in exchange for 25% of the rights to your upcoming book and movie deal as well as an equal share to the promotional rights to you, Casey Serin. I can help promote you and may be more valuable to work with than your ‘rich dad’ from a learning perspective. I would also provide you a real chair and not the ‘blue ball’ that has gotten everyone in such a fuss.
I’m serious about the payment. If you are interested, please respond to this comment.
This is what you wanted in a way, isn’t it? A creative way to get out of this mess?
-Big Cheese
October 26th, 2006 at 3:28 pm
usps.com record search of the “Certified mail” from ReconTrust says:
“Label/Receipt Number: 7187 7930 3131 0796 3085
There is no record of this item.
Why Are You Receiving This Message?
1. Event information may not be available if your item was mailed
recently. Please try again later.
2. The number was entered incorrectly. Be sure to enter all of the
letters and numbers as they appear on your mailing label or receipt.”
October 26th, 2006 at 4:30 pm
SQT: Nah….if you took it as negative means you are the one with issues in their life. Sure I took a minute to post but I have a right to my opinion and have a right to comment on stuff.
I think he’s being a bit over the top and I do agree Casey is his own worst enemy. As for my life, I didn’t critique you personally, so get over yourself. My life is fine, thank you very much.
October 26th, 2006 at 4:33 pm
Casey: I could care less about Republicans and Dems. I care about Americans.
I do feel for you, though. I don’t feel SORRY for you, but I do feel for your situation. Can’t fault a guy for trying to make something of himself. Wish you hadn’t lied on loans to get the money….that’s where you lost me.
As for the Republicans, know this…they are the party in power and have allowed for this crap to go on unchallenged for a long time. But to be fair…the dems most likely would allow the same crap to happen but with more red tape.
October 26th, 2006 at 5:34 pm
So many people have commented indicating that you’ve discovered a new way to sell real estate. I don’t want to comment on that, but this would be a great way to generate leads for selling real estate. Is it known that anyone does it this way? I don’t mean from proclaiming disclosures, but maybe through blogging or various avenues like that?
Catch a Gideon
October 26th, 2006 at 8:29 pm
Casey,
Thanks for providing this blog. I have been laughing my a** off for the last 1/2 hour reading it. In the past I searched youtube for “jokes”, “comedy”, “funny” when I wanted a laugh, but your blog tops them all. I’ll be back.
January 20th, 2007 at 7:21 am
[…] I don’t want to kick Casey’s dreams. Dreams are good, and I think people should pursue them with gusto. Too many people make a practice of telling others why their plans won’t work instead of lending support. But when your dreams are at odds with reality, you need to re-evaluate. […]