I get a lot of interesting emails. Here is one of them.
This guy is trying to share a “business opportunity” with me but I declined (for now) because I’m too busy with my foreclosure mess. I did enjoy his letter though.
Keep in mind, I have nothing against “a job” in the traditional sense. Every entrepreneur needs a “base income” of some sort to launch their risky ventures from. I am very grateful for the jobs I have had throughout the years. I learned valuable skills and made a little bit of money to hold me over. So I am not a “job hater”:
1. If… you love your job
2. If… you are happy with the level of income you’re making
3. If… you have a plan for retirement
… that’s great! You’re further than most people. Stay were you are! The rest of us are lacking in one of those areas and that’s why I have always been looking at additional business opportunities.
With that said, here is the letter:
THE PEOPLE’S FORMULA FOR BECOMING OR REMAINING FINANCIALLY BROKE by James Michael Feinstein
(OR AN AVERAGE MIDDLE CLASS WAGE SLAVE)
1. The primary rule is to fear getting of your comfort zone, so you can justify making excuses to remain exactly where you currently are.
2. The second, most important, rule is not to have any guaranteed residual income. To follow this rule, one must do the following:
1. You must be dependent solely on a job as your primary source of income. Remember, it’s not the money that counts but the social environment of meeting and being with the same people every day. Minimum wage, or a low starting salary, until one gets lots of experience is better than nothing at all. Everybody should be away from home working 10 hours a day and, most likely, working for somebody else. (We can lessen the number of hours per day, for a while, if you are a student.) It is also important to remember that the primary objective of getting an upper level education is to learn how to work for somebody else or to take a great financial risk by investing thousands of dollars to get started in a career. If you are strictly trading time for dollars, don’t know how to compound your time, and you are a real superman, you can get up to 16 hours of work in a day. If you work 30 or 40 years, you can always depend on an investment portfolio, a pension, or social security for income to keep you secure in old age.
2. It is important, when on a job, never to “rock the boat” or cause any dissention among your team. If you are a good employee, you will likely get a promotion (which will justify having you spend more time away from your loved ones), a raise (never mind the extra deductions that automatically go along with this raise), or you can always count on landing a better job. Your employer will, very likely, give you a small percent “cost of living” increase to account for inflation, based on the consumer price index for necessities. Remember, gasoline nearly doubled in price over the last two years, so your employer has some feelings toward his employees If you get fired, laid off, your job goes overseas, or the company goes broke, it is always your fault that these things occurred. Like me, you don’t have the skills to get along with other people. You probably come on too strong and your personality is overbearing. Perhaps
you are also incompetent to do your work. If you are lucky, your employer will show you some mercy and give you a 90 day performance improvement plan before taking any of the actions I described above.
3. If you start your own company, your own skilled trade or skilled service and possibly hire employees, it is important to be sure that income will stop coming in on any day that you or your employees are unable to work. Gasoline stations and other services need to be open on holidays so you are very noble when you perform holiday work. If you are a sales person, be sure that you do not get a commission on any day that you do not sell enough. Competition is also unimportant. Constant travel away from your family is very acceptable and remaining single is an extra bonus.
3. If you know a “financial genius” or a professor who teaches entrepreneurship, it is very important to make sure that this individual has to be included in the rush hour commute with you and goes to work every day, like anybody else. Remember, birds of a feather must always flock together.
4. If you want to endorse your business, merchandise, skilled trade or service, IT is important to be sure to print out many business cards and use radio, TV, and newspapers as your sole source of advertising. Remember, that the internet did not exist when the baby boomers were growing up and that many of them are still hostile to using computers. Resumes, newspapers, and not personally knowing somebody from a reputable organization in your chosen field are the best ways to land a good job. A well written resume will always “sell you” to a prospective employer and endorse your skills
5. It is socially acceptable to start life thousands of dollars in debt from student loans, a car, a house, starting a new business, and the expenses that go along with having a new baby. Remember, you were not likely born into a wealthy upper class family. How many people have the luxury of being able to afford a house and a car and pay cash for them, and not have to save up for years to help their kids get through college? If you work hard for 30 or 40 years, you may have earned the luxury of being able to take a nice vacation, if your health is up to it. It is socially acceptable to wake up to an alarm clock each morning, have to rush the kids to school or day care, and have both parents work. Remember, the teachers and employees of a school and day care have been certified and fingerprinted, so they always know what is best for your child. They will do all the work and take all the responsibility while you “climb the corporate ladder”. Your kids will also understand why mommy and daddy cannot spend a lot of time with them, as mommy and daddy are sacrificing their time to provide them a better future. If your kids get into any kind of trouble, the schools are entirely to blame, for shirking their responsibilities. Divorce is always an easy way out when things go awry. 64% of all marriages do end up in divorce.
6. Now if you cannot “keep up with the Joneses” or your job does not give you enough income to make ends meet, why not take on a second or third job? You can also “buy on credit”. Get as many credit cards as you can. It is important to establish good credit ratings with Experian, Equifax, Trans Union, and Innovis. If you get enough credit cards, you can always borrow from one credit card to make the minimum payment on another credit, and keep them all going. As long as you make payments on time, Experian, Equifax, Trans Union, and Innovis will give you A1 credit ratings, in case you need a loan in the future to buy a better car or to remodel your house. If you feel you are getting into financial trouble, you can always work
overtime on any of your jobs or get another job, as I have previously indicated. You often get time and a half or double time for working on holidays. In the worst possible scenario, there are always chapter 13, chapter 11, and chapter 7 bankruptcy laws to protect you. You can always
get financial advice on how to become “judgment proof”, as the bankruptcy filing laws have gotten tougher.
7. Be sure to invest in stocks and a house and never invest in income producing property. Remember that stocks are always guaranteed to go up and houses are guaranteed to increase in value, if you hold onto them long enough. An October 1929 “black” Friday can never happen again, as we now have too many “checks and balances” in our economy. If necessary, our overnment can always print more paper dollars, should there be a “run” on any of the major banks. Never sell your house to capitalize on the value increase. You will be paying higher property taxes when your property value increases. If you have trouble making mortgage payments or need money to improve your house, be sure to rent out every square inch of it and sleep in the closet or garage, in the worst possible scenario. If you play the lottery or gamble in a casino, remember that somebody eventually has to win the lucky jackpot.
8. It is important never to learn how to buy anything from yourself. The people who manufacture products and produce food always know what is good for you, so they deserve all the profits. Because America is lucky enough to be one of the food producing countries of the world, it is OK for more than two thirds of the American population to be overweight. If you acquire any health problems, the latest modern medical technology and new drugs will eventually cure you of all your ills. If you take time to clip out coupons, be sure to waste gasoline going to several stores to save 20 cents or a dollar here and there or buy one get one free. Shopping at Good Will, the Salvation Army, or receiving handouts from donations to the local food closet in your town is always a solution.
9. If you want to “get rich quick”, you can always join one of those “multi level pyramid schemes” and become a “filthy rich Crum” by conning your way up to the top 2% who will have all the money when “America goes broke”.
10. WHILE I HAVE GREATLY EXAGGERATED I DELIBERATELY DID SO BECAUSE I WISH TO PROVE A POINT: MOST PEOPLE HAVE BEEN TAUGHT ANY OR ALL OF THE ABOVE WAYS TO HANDLE MONEY BY WELL-MEANING PEOPLE. […] PLEASE CALL ME, JAMES, AT xxx-xxx-xxxx SO I CAN PROPERLY INTRODUCE MYSELF.
By the way, I do not endorse the business opportunity associated with the letter. It may or may not be good. I am just giving James a little credit for writing the letter.
I liked the message because it describes the reason why we entrepreneurs and financial-freedom-seekers are the way we are.
Utah House Still Wrapped, Sort Of
Why Should I NOT File Bankruptcy?
180 Comments
*
TOTAL WASTE OF TIME
December 13th, 2006 at 3:15 pm
A waste of your time to read and post this drivel.
And a waste of my time to ‘read’ - but, only took 3 seconds to skim and ignore.
And, I guess, a waste of my time to respond…
Wow, you really ARE out of material.
*
T
December 13th, 2006 at 3:16 pm
LMFAO @ “base income” in parenthesis.
Pretty rich coming from someone who ain’t too proud to throw a tip jar up on his blog to beg from hardworking people with “base income”.
*
TOTAL WASTE OF TIME
December 13th, 2006 at 3:16 pm
…and, if you consider emails like that one ‘interesting’ and worth spending your time reading, NO WONDER you never get anything done.
*
LOL
December 13th, 2006 at 3:21 pm
More RK’ish “Rich Dad” type bullshit, you certainly are a sucker for any scam that promises that you won’t have to work a “JOB” Casey aren’t you?
*
Jesse
December 13th, 2006 at 3:21 pm
“I liked the message because it describes the reason why we entrepreneurs and financial-freedom-seekers are the way we are.”
Because you’re retarded?
*
Robert Coté
December 13th, 2006 at 3:34 pm
Casey, please post the Adsense revenue. It is part of your situation and part of your plan. You are lying to your readers if you are anything less than open.
Casey, please post the Adsense revenue.
*
Casey Serin
December 13th, 2006 at 3:36 pm
sorry no early riser updates. Because of going without sleep for too long I passed out last night and slept through the alarm, similar story yesterday. I am not giving up though.
My schedule here has been very busy with late nights, so my updates will be limited.
*
Max Stein
December 13th, 2006 at 3:37 pm
Wow! That was the most poorly written and confusing sales pitch I’ve ever read. Poor James, he’s retarded!
I guess you’ll have to break this news to 32% of America’s millionaires who made their fortune from a job.
*
J. C. Ernharth
December 13th, 2006 at 3:48 pm
Hell. Good luck, Casey. Reading that crap is wasting your time while you should be getting a real job.
*
waitinginoc
December 13th, 2006 at 3:50 pm
WTF!!! You are not an entrepeneur. You are simply lazy and looking for the easiest and quickest way to make a lot of money. I have been reading your crap for a while and have not responded as others on this blog have covered it quite well. This however is just something I am way over hearing. You are not an entrepeneur. You are a dumb ass and will be spending the rest of your life trying to be something you are not. Working a 9-5 job is reallly part of life but what you get from it is more than a pay check. You obviously learned nothing from the few meager hours you attempted the 9-5 world. Grow up Casey and quit using a word to describe yourself that only belongs to the real entrepeneurs. You are giving all of them a bad name!!!
*
Less than zero.
December 13th, 2006 at 3:54 pm
“Also if all you want to ever do is work a job, that’s fine too. If 1) you love your job, 2) you are happy with the level of income you’re making and 3) you have your retirement taken care of, that’s great, stay were you are!”
Casey, in the real world people have to make sacrifices, and one of the most common is to work a job they don’t like for a steady paycheck to support their families.
Ever the twat you are, Casey.
*
TOTAL WASTE OF TIME
December 13th, 2006 at 3:59 pm
So, sounds like you’ve only got up ‘on time’ about 50% (or less?).
“I am not giving up though” - You’ve already failed in this, but won’t acknowledge it. Like other areas of your life, quit deluding yourself.
*
John Smith
December 13th, 2006 at 4:04 pm
-
this sounds just like Robert Kamikaze’s drivel.
p.s. Good afternoon, Late Riser!
*
TOTAL WASTE OF TIME
December 13th, 2006 at 4:08 pm
LOL - you don’t have time to respond to questions with 5-10 words answers, but you have time to wade through, read and post spam emails?
Get your priorities straight, man!
*
Frustrated
December 13th, 2006 at 4:12 pm
Is this really why you think you “are the way you are”? Have you set yourself up with a false dichotomy that it’s either full-tilt risky RE speculation or life-long wage-slavery?
What was wrong with your life that you felt you needed so much money, so fast? If you didn’t like your job, perhaps you could have found a career that was fufilling and contributed something to society?
I see this RE lust in you now for what it is: greed. Sit back and ask yourself just why you were so unhappy making $35,000 a year in your twenties. Maybe pick up a copy of “Your Money or Your Life” by Robin and Dominguez from the library (for God’s sake, don’t buy another book in your current mess.)
As Margie said at the end of “Fargo”, “And for what? A little money. There’s more to life than a little money, you know.”
*
Turn Yourself In
December 13th, 2006 at 4:16 pm
Casey,
Turn yourself into the FBI as Jerome recommend you do. You asked Jerome for what to do and he told you to turn yourself into the FBI for the fraud you committed.
Why are you waiting - it’s costing us tax payers money the longer you wait.
*
Happy Mind - Happy Mood
December 13th, 2006 at 4:21 pm
Interesting letter that looks spammy. Nowadays is so hard to really believe in what someone is offering you because of the popularity of scams all over the place. On the other hand, you need to sleep better Casey, try to fix your circadian rhythm that way you can better concentrate on your things.
Ed
http://www.happy-mind.blogspot.com
http://www.sexualhealth-101.com
*
laughing my a$$ off
December 13th, 2006 at 4:21 pm
I’m guessing you are the exception to the “hard working immigrant” stereotype. And PLEASE quit calling yourself an entrepeneur . You are just a lazy little turd trying to find an easy life with no real effort. The simple fact that you couldn’t even keep up with your “early riser” BS proves that.
*
hyperlexic
December 13th, 2006 at 4:24 pm
You wasted a blog entry on this?
I hope to christ you got paid for this.
*
300% RETURN!!! COME ON DOWN!!
December 13th, 2006 at 4:25 pm
I’m sorry that I didn’t post this earlier for you Casey. Been busy working with some clients on these sweet deals. Without giving away all my secrets, here’s how my sweet deal system works, from a recent sweet deal:
1. We match lender-qualified buyer-tenants to investors.
2. The buyer-tenants do all the legwork to find the house.
3. The buyer-tenants pay a non-refundable deposit (1% of future value) to “make an offer” on a property.
4. The investor buys the house (through us) and puts the buyer-tenant in on a Rent-to-Own basis.
This most recent deal was for a home in the $175K range, rent is about $1700, buyer-tenant gets a credit each month for $178 if they pay on time. They are looking at an estimated equity position of $6,472 when they buy the house in 2 years based on our conservative appreciation estimate. If the house appraises for more, they keep the added equity. Their closing costs are paid when they buy the home, which is financed with no money down financing when they buy.
For the investor, they need about $1700 for earnest money to get into the deal and a credit score of 680. At closing, they get the $1700 back so they are $0 out of pocket costs as of closing. They get $178 per month positive cash flow and the tenant pays all utilities and maintenance, covered by a home warranty for any major stuff.
The investor cash flow is:
Initial out of pocket costs - (-$1,700 including all closing costs and tenant deposits)
Cash to Investor at closing - $1,700
Monthly positive cash flow - $178 ($4,278 over two years)
Cash from sale of property - $15,896
Total net cash flow to investor - $21,874
Now the investor has a theoretical infinite return since he gets cash back at closing, but if we do a simple project return (over a two year term) based on his initial outlay, we get a total 1287% cash on cash return over the two years ($21,874/$1,700). If I’ve got the excel formulas right, this series of cash flows (counting the payment from closing as period 2) generates an average monthly IRR of roughly 37%. On an annual basis, it’s tough to analyze because the investor only has 1 month of negative cash position.
From the beginning, the tenant has the mindset of an owner, most want to do improvements to the home on their own dime (with investor approval, of course). They picked the home, they have put up a lot of money (for them) and they are looking at a lot more money in appreciated value at the end of the term. They are some of the happiest people on the planet - the best tenants in the world. They can buy early or get a year’s extension at no cost if they need it.
To make this work, you need to be in an area where a rent-to-own tenant can afford a rent payment of about 1% of the current value of the home. So this won’t work in CA, where you’d need a 3000-7000/mo rent payment. However, it will work for investors looking for properties that meet this criteria in more stable markets, like Spokane.
We take steps to mitigate the risks of a tenant walking out and we spell out those risks to our Investor clients. They are basically buying a cash-flow positive rental for no out of pocket expense. The buyer-tenants have been preapproved by lenders who work their credit issues to get them into the home so the lenders can be paid. We don’t estimate vacancy because we haven’t experienced any (but it’s a new program) and the only maintenance and/or vandalism they might face would be if a tenant walks away, which we can’t estimate as no tenants have walked away.
I hope these specifics help to make it easier to understand.
*
Jason
December 13th, 2006 at 4:26 pm
Casey,
I hear you bro.
That email really hit home. Life’s too short… Rock ON
Avoid the rat race at all costs!!!!
*
Robert Coté
December 13th, 2006 at 4:29 pm
Repeat point with expansion.
Franklin did not advocate early rising. He advocated early bed and early rising. This isn’t some yokel farm boy advice, his reasoning was and remains quite sophisticated. Think about from your selfish point of view. When have you made your worst mistakes? When you were short on sleep or up real late or both. At that, Franklin calling it “early to bed” was a euphemism as he was a nortorious party animal. He meant take care of business and then put it down. Casey, can you think of anyone who’s habits are as diametrically opposed to Franklin’s advise and example as your own?
Casey, please post the AdSense revenue.
*
Chris Johnson
December 13th, 2006 at 4:29 pm
Ditto to “Total Waste of Time’s” comments. Distracting yourself from your problems may work in the short run, but you’ll feel so much better if you just took care of them. And here’s a Secret I’ll share for free: you make more money when you take care of problems early, or heck, even take care of them. The earlier you do, the better terms you can negotiate. Wait too long, and the terms will be negotiated for you, like foreclosure.
It’s even worse that something so poorly written is that distracting to you.
*
Casey is a Genius
December 13th, 2006 at 4:31 pm
How much did James pay you to post that letter? Glad you haven’t disappointed and stuck with your Marketing Blog…ERRRRRRRR Foreclosure Blog. So how much you charging Casey? Anyway that I could have you post an exercise workout promo DVD for my friend too? I’ll make sure you’re blue ball gets involved in it too.
And after skimming through most of the BS James is pushing, I like how James promotes that there are many checks and balances in the economy than we had in the past which would avoid any sort of Deep Recession/Depression from our economy…Yeah. Hey HotShot!!! Are these the same checks and balances you’re talking about that got a 24 yr old into 2.2 Million in Debt?
Nothing to see here folks…Move along…Casey will be lucky to have even 50 posts on this one.
*
yougottabekiddingme
December 13th, 2006 at 4:32 pm
Actually, this is going about the way I expected - as our hero realizes there is no miracle coming along to save his behind, no “money fairy” dropping sweet deals in his path, and no rich dad to give him the one crucial piece of informatio he needs to actualize his pie-in-the-sky dreams, Casey will lose interest in this blog.
It’s not as much fun to blog and take the ribbing from internet strangers when you no longer believe you will somehow miraculously prove them all wrong and make a million in your sleep!
Bye. It was fun watching the train wreck.
*
butch
December 13th, 2006 at 4:39 pm
I am a wage slave (work 40+ a week for a company)
BUT i am about to buy an apartment in nyc, i am putting 30% down in cash and i have 1 son and a wife who is taking time off from work.
whatever, but i OPEN my mail and check my phone messages because i KNOW what happens when i don’t
(i did have a good bout with depression which made me hide from real-life a few years ago, wheres i neglected things like opening mail)
Casey, dont hate on people that have 9-5’s,
also, sleeping late and not opening mail might be a sign of depression, try getting some real counseling
*
Mind Petals: Young Entrepreneur Network
December 13th, 2006 at 4:50 pm
links from Technorati Formula For Being Broke
*
Coyote Investor
December 13th, 2006 at 4:54 pm
Casey and community,
Here is a list of 15 questions that are posted on the debtors anonymous website. Since Casey does not usually directly answer questions posed to him, I am asking the community, as a challenge, to find specific CS posts that are direct evidence of the true answer to these questions. At the end are the two paragraphs that add a lot of clarity to this blog.
The questions:
1. Are your debts making your home life unhappy?
2. Does the pressure of your debts distract you from your daily work?
3. Are your debts affecting your reputation?
4. Do your debts cause you to think less of yourself?
5. Have you ever given false information in order to obtain credit?
6. Have you ever made unrealistic promises to your creditors?
7. Does the pressure of your debts make you careless of the welfare of your family?
8. Do you ever fear that your employer, family or friends will learn the extent of your total indebtedness?
9. When faced with a difficult financial situation, does the prospect of borrowing give you an inordinate feeling of relief?
10. Does the pressure of your debts cause you to have difficulty sleeping?
11. Has the pressure of your debts ever caused you to consider getting drunk?
12. Have you ever borrowed money without giving adequate consideration to the rate of interest you are required to pay?
13. Do you usually expect a negative response when you are subject to a credit investigation?
14. Have you ever developed a strict regimen for paying off your debts, only to break it under pressure?
15. Do you justify your debts by telling yourself that you are superior to the “other” people, and when you get your “break” you’ll be out of debt overnight?
How did you score? If you answered yes to eight or more of these questions, the chances are that you have a problem with compulsive debt, or are well on your way to having one. If this is the case, today can be a turning point in your life.
We have all arrived at this crossroad. One road, a soft road, lures you on to further despair, illness, ruin, and in some cases, mental institutions, prison, or suicide. The other road, a more challenging road, leads to self-respect, solvency, healing, and personal fulfillment. We urge you to take the first difficult step onto the more solid road now.
I have had my own struggles with addiction and with all the denial and pain that go with it. I recognize much of my own behavior in how Casey is handling (and not handling) his problems. (my addiction did not manifest as debt, it is irrelevant)
My suggestion to the community is to take one question and find several examples. It will be interesting to see if CS lets this through. It’s reality 101.
*
EL TORO ENERGY
December 13th, 2006 at 4:56 pm
My schedule here has been very busy with late nights, so my updates will be limited.
Try some www.ELToroENERGY.com and you won’t need to sleep. This stuff works…it will keep you going for days. Just think of how much more procrastinating you can do if you didn’t have too sleep….”it’s a sweet win-win deal…..”
Whats up with the casey doll X-mas is only a couple of weeks away….
*
scotty
December 13th, 2006 at 5:01 pm
I don’t think there’s any point in responding to this post.
However, I would like to hear from the rest of the commenters here. I think it’s clear that Casey is leaving out many details, and just posting filler like the email you see above. On numerous occasions, he has brushed off direct, specific queries about his situation from Tim, et al. It’s obvious that there is more to this story than we know.
So, my question to the rest of you is, what exactly is going on here?
-Does Casey own all the properties shown above?
-Is he actually in serious debt/facing immenient foreclosure?
-If you think someone else is managing this blog, who is it? What are their objectives?
I’d like to hear your ideas, especially those of you who have said this is all a fake/marketing scam.
Thanks!
*
Bugmaster
December 13th, 2006 at 5:03 pm
Casey may not be legally allowed to post the AdSense revenue. I know I wasn’t, when I was using AdSense.
*
Cara
December 13th, 2006 at 5:06 pm
Many of us are financially free because we’ve PAID OUR DEBTS. Casey.
*
Unbelievable
December 13th, 2006 at 5:09 pm
Formula For Being Broke ?
I don’t think you need a formula Ca$ey…………….I think you WROTE the formula !
*
Housingbear
December 13th, 2006 at 5:10 pm
Casey,
When are you going to jail? It’s just a matter of time before you will be wearing wide pin stripes. ;-)
*
JLIN
December 13th, 2006 at 5:15 pm
*yawn* It takes AWHILE to skip the Email to get to the real stuff.
Where are my “Trailer Park Boys”?
How’s my homeboy J-Rock doing?
*
No Respect
December 13th, 2006 at 5:17 pm
“I am very grateful for the jobs I have had throughout the years. I learned valuable skills and made a little bit of money to hold me over”
Please list these wonderful jobs and the dates you worked there.
Your resume is unimpressive, son.
Please also tell us the amount of time you have completely supported yourself financially. From what I understand, you bought a condo and Daddy helped you “fix it up” you lived there for a brief time, saved up about $500 and decided that you would quit your job because you were independantly wealthy. So you move back in with Daddy and sell the condo at @ $30k profit.
Maybe you had your own place between selling the condo and getting married ( I hope so because it is already hard enought to understand where the $30k went) I don’t know but you didn’t take too long before moving in with her Daddy ( my guess is you needed “A “base income” of some sort to launch their risky ventures from.”)
Sound to me like you can’t take care of your self or your wife. Almost all cutures view this as a flaw in manhood and I believe that gets to the heart of your problem- You are a child. A 24 year old baby who needs to be taken care of. The problem compounds daily because you have a family that seems willing to indulge you little fanasty world as if you were retarded and they thought it was so cute that “slow little Casey just loves to play Blog”.
You will never earn the respect of anyone of merit unless you can prove yourself able to support yourself (supporting your wife would be a bonus buy, hey, you gotta start somewhere. You seem to fancy yourself an big risk taker when, in fact, you have risked very little compared to most of the people who reply on your blog. Most of us take our obligation to support ourselves and our families very seriously and consider that first before pursuing some “venture”.
Perhaps you do need some jail time. It might force you to grow up. At least they would make you stick to some kind of schedule. Then again it might break you. Either way, it is probably less of a burded to the taxpayers to feed you directly and keep an eye on you.
*
Hi...I'm Dolph DeRoos
December 13th, 2006 at 5:18 pm
LOL. Early riser = another stupid new age idea that you love to pontificate on.
Wow.
*
yneone
December 13th, 2006 at 5:18 pm
I am not in agreement that you should post your adsense revenue. Its nobody’s business.
*
Random Guy
December 13th, 2006 at 5:20 pm
Casey,
Your blog has gone down the crapper! The last SIX posts have been terrible.
Please stop posting anything unless:
A) Your wife has something to say. Does Mrs. Serin even read her husband’s blog?
B) You have actually managed to get another loan. Just talking about doing it anymore than you already have is BORING! Let see some some sweet deals get done - Crap or get off the pot.
C) You have turned yourself in to the FBI (least likely)
D) You have been notified of your court date (most likely)
E) The people who have loaned you money start to get pissed and are complaining about it. (likely as well)
F) You talk about your Ukrainian childhood - how your parents were gypsies, how lying and cheating was just a way of life (”everybody’s doing it!”). (not likely but should)
Those would make for interesting posts. I’d even click on your ads.
*
TWIT
December 13th, 2006 at 5:21 pm
I once had a very successful salesman tell me his secret: Make them feel the pain, the pain of not having what you offer. Then show them the way out of that pain. They will always buy.
Isn’t that why these get-rich-quick schemes always show people on beaches, sitting beside pools, waxing their boats, playing wiht their kids? They want us to feel the pain of not having those things. RE flipping (or placing tiny ads, or a stock news letter, or MLM, or any of a host of other “opportunities”) might provide that with very little work.
Truth is that almost any venture that provides a good income or does not involve being an employee takes a lot of risk and a lot of work.
That drivel is just more crap from a salesman who wants you to feel the pain, so you won;t mind him rooting around in his wallet. If it was such a good system, why’s he selling it? (Oh, yes! I know. He’s made millions and now wants to help others. OK, sure, right.)
Now, either CS believes this kind of crap (which would make him a true moron) or he’s getting paid to promote this guy. CS strikes again. Could he be the Columbo of the internet? Seems dumb as a rock, but smartly scamming us all?
*
TWIT
December 13th, 2006 at 5:23 pm
P.S.
Casey does not need to talk to this guy. He’s found a great recipe for going WAYYYYY beyond broke. I predict he will stay that way for 10 years after his enforced BK.
*
segfault
December 13th, 2006 at 5:24 pm
The e-mail only points out the obvious–the only real entrepreneurs who have ever made money with little or no work are those who own income producing properties, i.e., real estate. Everyone else is just a schmuck who doesn’t know any better. Investing in stocks and bonds is a stupid idea for losers.
Oh, wait, you say you’re having to work really hard to stave off bankruptcy? How can that be, when I thought it was real estate investors who never had to do any real work?
*
Rob P
December 13th, 2006 at 5:33 pm
Drivel.
*
lover
December 13th, 2006 at 5:39 pm
He did a lousy job last nite. i have to do it myself.
mike
*
TOTAL WASTE OF TIME
December 13th, 2006 at 5:45 pm
Adsense $ ???
*
Joey Bobo
December 13th, 2006 at 5:58 pm
Hahaha!
#7 and #9 talk about YOU, Casey!!!
#7 is you, because you never did invest in any income producing properties, right? You were a “fix ‘n flip” looser who never did get the fix or flip part right.
#9 is you because if there ever were a sucker for those late night get rich quick, free money, “seminars” or “study courses”…. YOU’RE IT! I wonder how many sucker, er… mailing lists you’re on when it comes to “get rich quick” materials. You’re the classic buyer.
That’s why some schmo with a goatee & lovepatch puts on an ill fitting suit from the $99 store, makes a video with material a college student learns Accounting 101, and sells it for thousands of dollars… because there’s always suckers like you ready to buy it.
That’s why you’re in debt. You would have been better of buying a house in Detroit for $15,000 and renting it out to drug dealers, pot growers, or section 8 welfare receipients. That would have been guaranteed income, with very little upkeep cost.
*
DC Troll
December 13th, 2006 at 6:02 pm
Yawn, another delusional post to draw traffic.
Casey has already demonstrated an exceptional “formula for becoming or remaining financially broke.” For latecomers, here are some of its precepts
1) Remember, a steady job or manual labor (like fix-up work on those unsold houses) is beneath you. Successful people become rich by buying and selling things with no need to worry about their actual worth.
2) Don’t waste your time reading mail from creditors, you know what they want anyway. This goes double for certified mail.
3) Organizational skills are overrated. Keep making deals and the rest will sort itself out.
4) Contracts are boring, and lawyers are expensive. Focus on the overall sweetness of the deal (how much cash can you get right now), and don’t get bogged down in details like APR or repayment terms.
5) The best time to seek an opinion on an action that will affect your life is after carrying it out. (Unless you plan to ignore the advice anyway).
6) The more people tell you that you are doing the wrong thing, the more likely it is that you are actually right. Because they only wish they had as much guts as you.
Feel free to add your own.
*
jonny quest
December 13th, 2006 at 6:06 pm
Boring Casey. If you want to keep your audience, you’ll need to do better next time.
While we’re all waiting for Casey to wow us with his latest example of ineptitude, why don’t we start a poll as to why we’re reading this blog. For me, while I ‘hate’ on Casey for the most part, I’m not 100% sure he’s a con man and am hoping beyond hope that he’ll be able to pull himself out of the hole he’s dug for himself. I don’t think he’ll be able, but I’m hoping. The 21st century American dream: immigrant son finds himself in land of milk and honey, holds his index finger to the air and feels the wind blowing towards the easy RE money. He stakes his claim, fails miserably, but learns his lesson to put the ‘gurus’ behind him after his wife leaves him, picks himself up, brushes himself off, works hard and ends up succeeding and reconciling his marriage.
*
Fashion Industry Ceo
December 13th, 2006 at 6:07 pm
check your email….TODAY!
*
john milken
December 13th, 2006 at 6:20 pm
You have no schedule.
Your smart schemes have put you in debt while suckers who work at jobs they enjoy live well within their means and save and invest the rest of their income.
You have no sense. I only hope the media does a follow up on you in a few years time. Divorced, living in a box, thinking you’re a winner.
Looser.
*
beezer
December 13th, 2006 at 6:24 pm
I have some announcements:
1) Whoever had 6 days in the ‘early riser’ pool, please report to the front desk to collect your winnings.
Anyone who believed Casey would go more than one week doing anything that took even the slightest amount of work or commitment, see Helga for a deep-tissue massage, followed by a counseling session with Henrik on your unreasonable expectation issues.
2) Participants in the seminar entitled ‘How to Turn Negatives Into Positives,’ please make sure you’ve read all posts dealing with how people who work hard and are not in millions of dollars of debt due to their own stupidity and laziness are just simple, less evolved, sad creatures who are only deserving of pity.
3) Anyone wishing to sign up for the seminar entitled ‘Why Education is for Suckers,’ please make sure you’ve read at least three books and/or pamphlets by gurus who make money telling the uneducated how far ahead they are of people who actually went to school and “wasted” all that time and money, you know, learning things, gaining experience, thinking, etc. Be prepared to discuss these materials!
4) Sputnik the Cat, please see the front desk. There was a scratching post and fishy treat of the month club delivery for you.
5) Anyone, including yneone, who has become completely disgusted with the turn from just plain stupidity, laziness and cluelessness to aggressive insistance on the superiority of stupid, lazy, clueless people; there will be an emergency group session on lowering expectations held in the main lobby at noon tomorrow, after Casey wakes up.
*
Jerry
December 13th, 2006 at 6:36 pm
Man, I’m sold! I’ve been such a looser!
Let’s all give James a call so he can properly introduce himself to us loosers…
*
El (sick of this idiocy)
December 13th, 2006 at 6:36 pm
People nowadays are obsessed with making money. Money money money. And I’m not *just* talking about you Casey. You go to something like MSN money, or that cretin friend of yours, Ramit or whatever his name was (I loved his post about not buying Christmas presents so you could invest instead), and it’s the same tired old stuff.
Why is it now acceptable that someone’s entire life can be devoted to making as much money as possible? It used to be that such a person would be considered a base individual. Take Donald Trump. What a crude, crass, ignorant idiot that man is. Instead of running him off by throwing rotten vegetables at him, he’s celebrated as if he’s achieved something. The ancient Greeks would have stuck a spear through his face.
Now we get to listen to these plebs, grubbing around in search of a dollar like a pig snuffling through dirt in search of a truffle, as they dare to criticize people who don’t allow their whole lives to be consumed by a quest for money. People who get up every morning - yes even when they don’t want to - and go to a job, where they bring home money to support their families, and maybe, just maybe, actually contribute something to humanity as a whole. People whose lives are driven by consideration for their loved ones, rather than debased greed and selfishness like Casey and that moron who wrote that email. People who aren’t so insecure that they need to prove anything to total strangers. People who just want to earn enough to live well, and then be happy and healthy.
I’m not saying any cliche tripe like “money is the root of all evil”. I’ve been well off, and I’ve been poor, and being well off is a hell of a lot better. But life is about balance. We wouldn’t respect someone whose life was dedicated to having as many one night stands as possible. We would think a life dedicated to watching movies while neglecting everything else was pretty stupid. So why is it acceptable to treat money like the golden calf?
Casey, you are a lousy husband, and a worse child. Don’t even get me started on you as Christian. You think God loves greedy, selfish, lazy, liars? I wouldn’t swap one McDonald’s burger makers you look down your nose on for ten thousand of you.
You will NEVER be happy Casey. Not even if all your ridiculous schemes succeed (which they won’t). Because you’ll lose anything else of value you have. Because any money you make will never be enough. Because even making lots of money won’t magically prove to the world that you are the AWESOMEST DUDE EVAH! You want money because you want to be a success, and your spirit is made of too poor a substance to see that success isn’t solely dependent on money.
But what do I know? I’m just jealous of your freedom. I’m just a lowly grad student, aiming to become a professor to share a discipline I love with bright young minds. What a terrible goal! I ought to become a total waste of space like you, a leech on society! Only chumps care about helping other people! Like that Jesus - man, he should have made people PAY to be healed! What a fool huh? He obviously never had a mentor! He could have made MILLIONS, and what else matters?
I’ve had it with this moronic blog, I’ve had it with your moronic schemes, I’ve had it with your moronic life, and I’ve had it with you - moron. I’m out of here.
*
Bubbers
December 13th, 2006 at 6:45 pm
Did I understand that you were a computer professional in your previous “base income” jobs? And yet you cannot post a copied document with the line breaks in the right places? Hmmmm…. No wonder you’ve become an “entrepreneurial and financial-freedom-seeker type.” So how’s that working out for you?
*
Marc
December 13th, 2006 at 6:48 pm
So higher education is a recipe for slavery? Typical redneck american mentality. Look where it got this country in Iraq.
There is money to be made in real estate once the $ US becomes funny money and chinese buys all of the houses in LA at $10 million each… of course the $US will be 1/100th of an Euro then. As for americans they can enjoy slums in their own country and a soda will cost you $100 then.
That said, investment bankers get bonuses of a few millions each this month in NYC. Maybe salaried work is not that bad. For all the energy you put out, what if you just invested it in going up the corporate ladder in an investment fat cow. Do it now as markets will probably crash badly within a few years…
*
star
December 13th, 2006 at 6:49 pm
“made a little bit of money to hold me over”
More dreaming. Reality is that you made much more money with a job than you ever did without one.
When will you get real and realize you’ve yet to make even 1 cent in your entreprenurial pursuits? Borrowed money does not equal profit. A gross proceed does not equal profit. Your net is and always has been in the red. The truth is you blew a few hundred thousand dollars since you quit working a job and made a huge mess for yourself and your soon to be ex-wife for years to come.
It’s getting old hearing you talk about business when it’s painfully obvious haven’t even grasped the simple basics.
*
Tom Durkin
December 13th, 2006 at 6:51 pm
Look!
I found Casey’s house!
http://www.flickr.com/photos/sercasey/242655631/
*
Did he pay the RE taxes
December 13th, 2006 at 6:54 pm
The10th came and went. Did he pay the property taxes that were due that day?
I bet not. Crash and burn.
*
Bitz
December 13th, 2006 at 7:06 pm
Make sure you read and believe everything in that email. I mean, it sums up your personal philosophy so well… and why shouldn’t we all try to be just like you? Quit posting this garbage and get something done, like opening your mail maybe.
So many people have wasted so much time on trying to help you, and this is how you repay us? Kind of like how you’ve “repaid” your creditors, with lies and more lies.
*
neighbor
December 13th, 2006 at 7:20 pm
Casey,
Why your modesto house have people living there?
Did you rent it out?
*
Kevin
December 13th, 2006 at 7:22 pm
Casey,
You left out the “business opportunity” portion of the letter. I’m sure we’d all like to see it so that we can sign up! ;-)
Seriously though, this is the type of thing that appeals to you? For me, I started hearing alarm bells after the first paragraph.
You must understand that anyone that sounds like that is almost certainly trying to con you.
Casey, I’m going to help you out — go get your copy of “Rich Dad Poor Dad” and turn to page 120 (where he interviews with a newspaper in Singapore). On that page RK gives you a glimpse of what he is all about. You need to read that page and then think about it a little.
What is he really saying? He is telling us that he is a salesman — he sold us this book, he sells his articles, he sells Cash Flow. He hasn’t every created anything of value. He hasn’t become rich from investing in real estate. He made his money by selling himself.
On that one page of that little book, RK reveals all to those who can see it.
–Kevin
*
Casey Serin
December 13th, 2006 at 7:24 pm
For Robert Cote, AdSense for Sep: $60
*
Entrepreneurs
December 13th, 2006 at 7:28 pm
Casey - there are no “get rich quick” schemes - just cons.
It is interesting you seem to equate entrepreneurs and entrepreneurship with income producing real estate. This could be farther from the truth.
True entrepreneurs have a dream and a mission — they have passion for a product, service or idea. Every successful business owner knows they will be working harder than they’ve ever imagined. (For some people, their dream and mission can be RE investing….)
The SBA (small business association) holds classes for entrepreneurs. I attended one when starting a business venture 17 years ago. At the first class the instructor asked who had plans to start a business because they wanted to work “half-time” - many hands in the room shot up. The instructor laughed and said, “Good, because you will be working half time - 12 hours a day/7days a week, for the next two to five years.
The statistics are staggering - a huge percentage of businesses end within the first year - even more close the second. It takes a skilled individual with good financial sense and business smarts with a great advisory panel to establish and grow a successful business.
Why does a business fail - poor management, no business plan, under capitalization.
Read that sentence again.
If you think you are an entrepreneur - then you need to take some serious time and start studying — read books on financial management, business law, marketing and business planning.
You need to learn what a P&L statement is and how to forecast revenue. You can say you are an entrepreneur all you want — but to really “earn” that title you need to actually start a business that turns a profit, is self supporting, with has adequate cash flow and reserves.
Stop attending these seminars or looking at “get rich quick” schemes. So far you’ve not demonstrated any skills, talents or knowledge to successfully start or grow a business of any kind. You lack the foundation to provide you with necessary experience that will allow you to become a successful investor and business owner.
*
The Guy Next Door
December 13th, 2006 at 7:30 pm
You know, Casey, you should spend more time discussing the relative evil of debt, that your story might be an unusual one today but will probably be one of hundreds of thousands or millions such in a year or two. In having taken on more debt that you can manage, you are hardly alone.
Well over a million new homeowners are going to see their A.R.M. loans reset in 2007 and 2008. It’s a reasonable supposition that most such loans were issued to people who were speculating that home prices would continue to rise. After all, it doesn’t take a genius to realize that A.R.M. loans taken out when interest rates are low are going to be harder to afford sometime down the road. Many home buyers in 2005 - and MOST who bought in 2006 - were speculating, just like you.
How did this happen? How could so many have been duped into making this mistake? These are questions you should pursue in your future blogs. If you gain more insight into the insidious nature of debt, you might find that there are ways to profit from future trends.
One example is precious metal. The long-term trends on silver and gold are certain to be upward, as the retirement of baby boomers which begins in 2008 forces the government to borrow and print at an ever-increasing pace. An increased supply of currency means that their value goes down relative to items with inherent value. Gold… silver… platinum… farmland. These things are undervalued by historic measures, and are going WAY up over the next ten years. Take that to the bank.
If you’re interested in making some quick money, I suggest you take a look at the NXG. Its chart is a classic descending triangle and is a pretty good bet to break out upwards in the days to come - especially since it is going ont the S&P/TSX COMPOSITE INDEX in less than a week. You can check it out here: http://www.atomicbobs.com/inde.....;id=134782
Stocks may not be your thing… but if you’ve learned anything from what you’ve gone through, you should be railing against the problems soon headed the U.S.’s way as a result of rampant abuse of debt, not just by you but by practically everyone. Investments with inherent value are about the only surefire bets anymore.
Good luck.
*
moom
December 13th, 2006 at 7:40 pm
Um, what’s the “business opportunity”? Just looks like a rant to me.
*
Concerned Doc
December 13th, 2006 at 7:43 pm
Casey -
I believe you suffer from a medical/mental condition. On one hand, my diagnosis would be biopolar disorder. On the other hand, you may have Antisocial Personality Disorder.
First - let’s explore biopolar disorder:
Bipolar disorder is an illness that affects thoughts, feelings, perceptions and behavior … even how a person feels physically (known clinically as psychosomatic presentations). It’s probably caused by electrical and chemical elements in the brain not functioning properly (see What Causes Bipolar Disorder? for more information), and is usually found in people whose families have a history of one or more mental illnesses. (While we’re at it, let’s be clear about something: a mental illness is one that affects the mind, not one that’s all in the mind.)
Most often, a person with manic-depression experiences moods that shift from high to low and back again in varying degrees of severity. The two poles of bipolar disorder are mania and depression. This is the least complicated form of the illness.
Depression might be identified by:
Refusing to get out of bed for days on end
Sleeping much more than usual
Being tired all the time but unable to sleep
Having bouts of uncontrollable crying
Becoming entirely uninterested in things you once enjoyed
Paying no attention to daily responsibilities
Feeling hopeless, helpless or worthless for a sustained period of time
Becoming unable to make simple decisions
Wanting to die
Mania might include:
Feeling like you can do anything, even something unsafe or illegal
Needing very little sleep, yet never feeling tired
Dressing flamboyantly, spending money extravagantly, living recklessly
Having increased sexual desires, perhaps even indulging in risky sexual behaviors
Experiencing hallucinations or delusions
Feeling filled with energy
Some people think that they are just “over their depression” when they become manic, and don’t realize this exaggerated state is part of the illness - part of bipolar disorder. A person who has depression and mania is said to have Bipolar I.
In addition to Bipolar Disorder I, the American system of diagnosing this disorder also includes Bipolar Disorder II, which involves symptoms of hypomania instead of full-blown mania.
Hypomania - a less extreme form of manic episode - could include:
Having utter confidence in yourself
Being able to focus well on projects
Feeling extra creative or innovative
Being able to brush off problems that would paralyze you during depression
Feeling “on top of the world” but without going over the top.
Hypomania does not include hallucinations or delusions, but a hypomanic person still might exhibit some reckless or inappropriate behavior. A person who has moods of depression and hypomania is said to have Bipolar II.
Here’s some information on APD:
Antisocial Personality Disorder is also known as psychopathy or sociopathy. Individuals with this disorder have little regard for the feeling and welfare of others. As a clinical diagnosis it is usually limited to those over age 18. It can be diagnosed in younger people if the they commit isolated antisocial acts and do not show signs of another mental disorder.
Antisocial Personality Disorder is chronic, beginning in adolescence and continuing throughout adulthood. There are ten general symptoms:
not learning from experience
no sense of responsibility
inability to form meaningful relationships
inability to control impulses
lack of moral sense
chronically antisocial behavior
no change in behavior after punishment
emotional immaturity
lack of guilt
self-centeredness
People with this disorder may exhibit criminal behavior. They may not work. If they do work, they are frequently absent or may quit suddenly. They do not consider other people’s wishes, welfare or rights. They can be manipulative and may lie to gain personal pleasure or profit. They may default on loans, fail to provide child support, or fail to care for their dependents adequately. High risk sexual behavior and substance abuse are common. Impulsiveness, failure to plan ahead, aggressiveness, irritability, irresponsibility, and a reckless disregard for their own safety and the safety of
others are traits of the antisocial personality.
If you have bipolar disorder, the good news is there help for you - medications have been developed with great success.
If you have APD, your options are limited - but that’s okay - if you have APD, you are happy with who you are and care nothing for anyone else.
In the meantime - having a medical diagnosis for your reckless behavior will not wipe the slate clean of your crimes nor eliminate your responsibility of paying back every of your growing and ongoing debt.
Stop thinking “Get Rich Quick” and figure out the deeper issues (your psycho pathology) of how you found yourself in this mess.
*
jonny quest
December 13th, 2006 at 7:45 pm
El, check out Paul Fussell’s “Doing Battle.” I work @ a university and he speaks the truth, esp. ‘the Rutgers’ screw.’ Good luck in getting a tenured position.
*
I AM A FAKE DOT COM
December 13th, 2006 at 7:56 pm
i bet you guys feel retarded to put all this effort into a fake blog only to see no housing crash
*
ken
December 13th, 2006 at 8:04 pm
And what about Oct, Nov?
*
dumb da dum dumb
December 13th, 2006 at 8:08 pm
casey now i know your bugging….
no way,im tempted to call that 800# im sure its a recording like all those ‘workat home’ signs,
you got paid to post that just like the Corporate Credit scheme
you wont approve this, i know it. your crazy, you cant sustain this site with silly paid promo ‘what do you guys this of this scam?’ posts
*
Philip Kaplan Adbrite CEO
December 13th, 2006 at 8:10 pm
Casey Serin
December 13th, 2006 at 7:24 pm
For Robert Cote, AdSense for Sep: $60
Thank you for finally posting this information, my company, adbrite, can make you at LEAST double that amount. Check it out at http://www.adbrite.com/
Rock On!
Pud
*
G-man
December 13th, 2006 at 8:18 pm
At least this part of the email was funny:
“An October 1929 “black” Friday can never happen again…”
That’s true… because it never happened in the first place! - at least not on a Friday. I think the guy means “Black Tuesday”.
“Black Friday” is actually good thing - it’s the day after Thanksgiving every year when there’s a lot of holiday shopping and supposedly retailers’ books turn from red (in debt) to black (profitable).
*
BT98
December 13th, 2006 at 8:23 pm
boring. This email is typical example of rah-rah speech you would expect from any MLM, cashflow/loan shark guru conference. It sounds all too familar.
Casey starting to sound like a troll again. Maybe I was wrong to believe he is in desperate situation or he is really unable to feel any pain or fear.
*
G-man
December 13th, 2006 at 8:30 pm
Casey, you’re so coy with your “AdSense for Sep” comment…
of course your traffic was just ramping up in September and I think you didn’t have ads between your entries and the comments (a “sweet hotspot” on the AdSense heatmap) back then so October and November could be very different than September.
But who really cares how much you’re making… besides you and your lenders.
*
laughing my a$$ off
December 13th, 2006 at 8:35 pm
In answer to the poster who wants to know why we read this blog.
Pure entertainment. Nothing more. I honestly could care less what happens to Casey. He’s just someone to point at and laugh. If he makes it big, I don’t care. If, more likely when, he crashes and burns, I don’t care. I’ll just move on to the next walking abortion and laugh at them. Just a little diversion from TV is all our little Casey is to me.
*
Tom Durkin
December 13th, 2006 at 8:36 pm
Why don’t you rent the houses out to some of the Uzbeks living in the community there? They could conduct their drug dealing and other nefarious activites from there. You’d be a legend back home….sigh.
*
Casey Serin
December 13th, 2006 at 8:42 pm
Hey guys I am NOT making any money for posting Corp Credit thing or this letter.
The only $ I make from this blog is AdSense and occasional TipJar donation via PayPal. The primary goal of this blog is to tell a story, not to make money.
And I am not exagurating or making anything up. My life is just crazy.
The initial goal was educational but looks like most people here are here for entertainment now.
*
Akubi
December 13th, 2006 at 8:44 pm
Let’s forget about Casey (and the general insanity he signifies) for a moment and, instead, think about the extinction of the Baiji dolphin http://www.baiji.org/…
Thanks to “our” greed and delusion a la Casey.
*
T.White
December 13th, 2006 at 8:52 pm
@ yneone
I (click)am (click) not (click) in (click)agreement that (click) you (click) should (click)post (click)your (click)adsense (click)revenue(click). Its(click) nobody’s (click) (click) (click)bus(click) (click)i(click)ness.
@ DC Troll
7) If you invite opinions from others, be sure to ignore or disregard the ones that you don’t like as you are surely like way smarter than like those dudes must be for sure.
@ El
c’mon man, don’t leave the party man; it’ll get better…why you gotta be a hater, huh?!
@ Robert Cote
O.K. he gave you what you want; no need for blog jealousy anymore!
Also, he might not know who Franklin was.
*
Unbelievable
December 13th, 2006 at 8:57 pm
Education ? I was never here for the education. It’s all about ENTERTAINMENT Ca$ey !
*
paypal sucks
December 13th, 2006 at 9:06 pm
Would it have killed you to include the adsense for Oct and November? How much time could it have actually taken for you to look up the information and type an extra 20-25 keystrokes. Ahhh, but I have already taken the bait…
Are you makin time to connect with your maker? Has He/She mentioned how poorly you represent Him/Her?
You really should seek some kind of professional help and I mean that without hate but with all sincerity and concern.
Does your wife know that you are banging cheeseblintz while in Phoenix?
*
Joey Bobo
December 13th, 2006 at 9:07 pm
Casey, it is educational.
It’s a story about how a man is getting the best advice in the history of the world and ignoring it.
Sociologist will point at this blog, note the hundreds of people who started off giving you sound financial advice, for no payment at all, and you you did the opposite.
People really want you to succeed, but they get frustrated when you continue your self-destructive behavior.
Keep blogging. I know you’ll do everything wrong… but at least it will show the kindness and best intentions of strangers on the internet.
To that grad school guy… do your dissertation on this blog. Casey will do it since his ego could never resist.
SAH-WEEEEEEET!!!!!
*
Wikifortune.com
December 13th, 2006 at 9:25 pm
Yes Mr. Casey, Adsense is bringing you quite a bit of cash.
$60 is it sir?
I just clicked on two ads.
Hope you like it sir.
I’m sure my ad clicking will be able to get you one starbucks coffee/ day.
Sir, do you not understand the spread of delusion you are creating? It’s so obvious that we are saying otherwise. You are in what “we” like to call “fantasy world”
Hard working in a REGULAR JOB and putting aside few bucks for investment is the safest way to go…especially when you are married.
File for bankruptcy sir. No joking.
*
Editor
December 13th, 2006 at 9:32 pm
“The initial goal was educational but looks like most people here are here for entertainment now. ”
You have very little of educational value to offer people. Most 14 year olds are smart enough to not do the things you did.
*
Vague Guru
December 13th, 2006 at 9:35 pm
Well I’ve been following this train wreck for a while, and it has become nothing more than a spam blog of full of sh*t that Casey is trying to sell. I’m out.
Casey, if you are truly this stupid or truly a genius I could give a sh*t at this point.
*
HungryBear
December 13th, 2006 at 9:46 pm
“The primary goal of this blog is to tell a story, not to make money.”
Why bother with it then? Unnecessary effort and subjecting yourself to all the abuse?
I read Steve Pavlina makes 9 grand a month on his blog.
*
Yougottabekiddingme
December 13th, 2006 at 9:47 pm
Casey, honey, there was never even a possibility of this blig being about “education” rather than “entertainment”. Never.
Not even one little smidgen.
To educate others, you must actually know something - you now less than most middle school students. You are not in a position to educate anyone - not even a toddler.
From the beginning, this was clearly a narcissistic effort on your part - you’re not offering anything to anyone but yourself. No “beneft from my experience”; no “this is what worked and didn’t work for me”; no “here’s a cautionary tale of what never to do”.
This has always just been entertainment - for you and for the readers. Entertainment and a nice little escape from reality for you, where you can pretend that your life isn’t really that bad.
Join reality - it’s not as much fun as your fantasy world, but at least it’s real.
*
Chuck
December 13th, 2006 at 9:48 pm
Casey,
You _really_ need to reflect and get to work producing some income. There is nothing wrong with failing at things in life but it is obvious that you need to spend some time learning the basics before going after this again. You should succeed on a smaller scale and SLOWLY ramp up before taking on the type of liability you did. You are just a small sampling of the carnage that is going to continue to occur. From some other posts you appear to be working on putting together some deals to stop the hemorrhaging but enough ’sweet dealz’ discussion…take your loses now while your young, pay down the pain and move forward.
If I missed it somewhere I apologize but you really need to contact Dave Ramsey, you might even give him a headache.
Good day
*
Billings Bubble
December 13th, 2006 at 10:01 pm
C’mon, all you people who say “That’s it, I’m tired of this, I’m leaving.” You’re not fooling us. I know you’re back here in a day or so checking to see what’s new. We all want to know what’s going to happen.
Casey, please, listen to a Brother. Who: You. When: This Friday night. Where: Your local church. What: Celebrate Recovery, gambling group.
Or call Dave Ramsey.
*
Mr. Right
December 13th, 2006 at 10:08 pm
“And I am not exagurating or making anything up. My life is just crazy.”
1st off, take an ESL class to learn how to spell.
LOL. Your life is just crazy? You only can blame yourself for the position that your in. All the decisions you’ve made in the past led you to this point. Your life has nothing to do with the outcome of what happened. You put yourself in this situation so don’t think that your life is special in any way at all. Your a joke Casey, pure and simple. After reading your blog for the past month I am so glad my parents did not raise me in Sacramento. If I did grow up there, I would probably dead broke, and with no college degree just like yourself. I would say good luck, but your honestly wayyy past that. I really hope that you keep borrowing money and dig yourself into a deeper hole until you lose everything.
*
Jackie Treehorn
December 13th, 2006 at 10:32 pm
so how much are you making with Adsense?
*
John
December 13th, 2006 at 10:36 pm
You are pompous and misled. You haven’t exploded my income level with your schemes. I have two residual incomes and one honker called hourly wage. Your attitude around helping others for compensation is unhealthy and will ultimately hamper your success. (Obviously it already has.) Furthermore, your citation is idiotic. I’ve had many successful engagements with world-leading companies wherein I benefited and they benefited. If it’s not for you, that leaves more for me. But it must make you realize you’re my tool. I create wealth, sometimes in cooperation with larger enterprises, for which I’m compensated, or sometimes alone, for which I earn my due. Through simple flexability I’m about twice the businessman you will let yourself be.
*
yneone
December 13th, 2006 at 10:40 pm
CHEESEBLINTZ…AHAHAHA…Now (click) that (click) was (click) funny (click).
*
Jackie Treehorn
December 13th, 2006 at 10:50 pm
alright - you were getting $60 a month in oct
looks from your charts, Oct was you peak:
http://www.sitemeter.com/?a=st.....m&r=12
that means you are making considerably less than Oct. for Nov and DEC
*
Time Will Tell (fake, again)
December 13th, 2006 at 11:04 pm
The initial goal was educational but looks like most people here are here for entertainment now.
I don’t see how you could consider this site educational. In the beginning, that might have been the plan. Like all your plans, however, you never carried through on this. I’d consider it more social voyerism. I was going to say a “there but for the grace of God go I” kind of thing, but most of us here are not reckless enough to get into this type of trouble.
- You have become highly leveraged to the point of losing all your properties and still being in debt far beyond your ability to pay.
- You have broken laws to get your self in such a bad situation.
- You have publicized your illegalities.
- You try to get out of debt by creating more debt on worse terms.
- You borrow at very bad rates.
- You borrow from friends and family, a “loan oft loses both itself and friend”
- You make rash decisions. The invariable turn out poorly.
- You think that your smarts and drive will get you out of this when it was your thinking that got you into it.
- You never conduct a risk/reward calculation for your decisions.
- You constantly confuse motion with productivity.
- You confuse recklessness with entrepreneurialism.
- You confuse stubborness with perserverance.
- You don’t do the basics of an adult life like open the mail.
- You don’t mind your business, like knowing where to mail the payments.
- You have ruined you wife’s career and financial future, and don’t even know it. You exclude her from decisions that affect her.
- You avoid the legal remedy that is open to you to restart your for some false sense of doing it yourself.
- You don’t follow through.
- You don’t even do the basic research on decisions you make (Buying a car at night is simply an example of this… everything you do is like buying a car at night).
- You have a trusting spirit in a mean-spirited business and world, and you don’t realize it. You will get taken every time, unless luck intervenes.
- You don’t learn.
How can you educate when you won’t even try to learn.
Here is a repost of a saying that may be the only educational thing on this blog….and it’s not the message you want to send:
“It could be that the purpose of your life is only to serve as a warning to others.”
http://despair.com/mis24×30prin.html (no it’s not mine, but still appropriate).
Entertainment is the only thing left. The people posting here are smarter than you.
*
Phil
December 13th, 2006 at 11:10 pm
Never let anyone get you down.
*
Mr. Flipper
December 14th, 2006 at 12:24 am
Ok, I give up. Let’s all limit our blog entries to three and one half million words, or less, mmm-K?
*
Voice of reason
December 14th, 2006 at 12:29 am
Casey,
Since everyone thinks you’re making money you might as well sell out the front page and actually make some money.
Just wanted to also mention that a decent formula for being broke is to borrow 2.2 million for assets worth 1.4 million and then borrow another 0.2 million for Jamba Juice, Frappaccinos, Macaroni Grill, travel, and some seminars. Should anyone be interested.
*
Daz
December 14th, 2006 at 12:36 am
its one thing to be an entreprenuer..its another to take the label and use to hide laziness and incompetence - why you even waste your time here is beyond me - you keep dreaming as if something magical is going to whisk you away to a life of financial freedom..well you’ll get it because where your ending up –there will be no money …and thats freedom for you casey …because forever you will be chasing a rainbow..but sadly the only pot will be the one everyone shit in
*
Fister Hiney
December 14th, 2006 at 12:45 am
Don’t listen to the haters Cman. The haters are just jealous of your skills. It takes a special kind of dude to hang your self out there like you have. They just sit behind their desks in there little cubicles on their 15 min break an read your blog and hate. You are the man. You are in charge. You seem a little down today. Everybody has a down day, it doesn’t mean that you are bipolar. That guy is just full of sh#t. You have been working hard trying to turn this thing around. Don’t let them get you down. Keep working those deals, and post some positive stuff tomorrow, you got to keep working.
*
lol
December 14th, 2006 at 1:01 am
Casey there is a video of you on YouTube with the Rich Dad, Poor Dad guy but it freezes. Any chance you could upload it and post it here?
*
.
December 14th, 2006 at 1:18 am
Love the letter! Risk is required to fly. And it takes a real man to take those risks. Keep at it Casey!
*
The Unwelcome Guest
December 14th, 2006 at 2:23 am
Casey.
You do realise you are currently plumbing depths several tiers below the average “middle class wage slave”…
Seriously man, post updates about your situation and negotiations with that BK lawyer and stop posting this drivel.
We all get spam mail.
*
Miguel
December 14th, 2006 at 2:37 am
“Don’t listen to the haters Cman. The haters are just jealous of your skills. It takes a special kind of dude to hang your self out there like you have. They just sit behind their desks in there little cubicles on their 15 min break an read your blog and hate.”
Au contraire, it seems to me that the more helpful commenters have their lives pretty much sorted and so they have the time to give very helpful, detailed and constructive advice. Unfortunately, the rule seems to be that the more helpful and constructive the advice, the more it’s based on real-world scenarios, so the less Casey is likely to pay attention to it, but there you go. This blog actually IS educational, for all sorts of reasons, but Casey isn’t the one doing the educating. Or rather, he is, but not in the way he’s presumably intending.
“You are the man. You are in charge.”
That’s the problem all along. Casey SHOULD be in charge, but he isn’t - he’s hiding behind business and marketing jargon, self-help gurus of dubious merit and this fantasy that somehow everything will turn out all right if he just manages to get up early four days out of every ten. As someone who has been an early riser EVERY SINGLE DAY for the last four years (I have small children), I’m less than impressed.
Taking charge needs one hell of a lot more than that - a coherent and workable strategy, for starters. Unfortunately, the only truly workable strategy that the better-informed commenters can see is to declare bankruptcy as soon as possible - which is why Casey’s not taking their advice.
“You have been working hard trying to turn this thing around.”
And the evidence for that is…?
*
Buzz Saw
December 14th, 2006 at 3:19 am
Rise and shine sleepy head.
*
paypal sucks
December 14th, 2006 at 3:20 am
It seems that this blog left the realms of anything educational several weeks back, and since then, has become its own kind of entity of entertainment. Now it appears that the blog has developed its own sociology.
There are these distinct personalities and characters that have developed and come to life. This blog is like a group of misfits, that get drawn into the sucking vortex of the life of a young, cluelss immigrant, a Gilligan, if you will, and watch him sabatoge every opportunity, to get off the island.
We have it all here. Multitudes of professor’s, millionaire’s, skippers mary ann’s and even a ginger.
Say what you will, but our lil buddy, has managed to fail forward into this truly unique blogging experience.
Heres how Casey will make his money off the blog. Compile the comments, the interactions and the evolution of the blog around the general story.
The funny thing is that everyone that has posted on this blog will buy the book, just to see if they are in it. Those that did make it into the book, would buy several copies to give their friends to show off that they are in the “Casey book.” Everyone is seeking their 15 minutes of fame, no matter how pathetic the form it comes in. That aside, the book of comments would be pretty funny to have, to document this rare phenomenon, that we have all gotten sucked into
*
Dont enhale the Serin Gas
December 14th, 2006 at 3:35 am
That post made me sick, you are deplorable. I love your little comment at the end about how you dont agree with it, then why the hell did you post it? Where has this mindset gotten you? Not all of us need money to feel succesful, happy, or worthwhile. I bet my entire retirement account(more than yours will ever be) that the guy that wrote this email was a pimply faced looser that was made fun of his entire life
*
CM SE
December 14th, 2006 at 3:45 am
@ Bubbers
Did I understand that you were a computer professional in your previous “base income” jobs? And yet you cannot post a copied document with the line breaks in the right places? Hmmmm…. No wonder you’ve become an “entrepreneurial and financial-freedom-seeker type.” So how’s that working out for you?
Bubbers, you got me thinking this morning (yes, even before my coffee…) What if Casey didn’t quit? He might have been fired and that could be why he devoted himself to this inane scheme half-time (I can’t say full-time ’cause he sleeps too much…)
Anyway, just a thought for you.
*
Jerome Mayne
December 14th, 2006 at 4:51 am
ADVICE FROM A FORMER INMATE
I don’t recall if we discussed this in our previous conversations or in our podcast (web cast) but, you should really look for ways to secure a good income stream for your wife.
If you do get indicted and eventually go to prison she will need money to come and visit. Travel expenses including the cost of staying in a hotel can really add up. (She won’t get to stay with you and in federal prison there is no such thing as conjugal visits.)
On the other hand, when I was in prison I found that about 80% of the time, relationships end - wives leave their husbands when they go to prison. Wives also wind up selling their husband’s stuff. Although in your case, I doubt your wife will want to be saddled with getting rid of your properties.
I’m not trying to be negative or funny, it is just a reality.
WWW.FRAUDCON.COM
*
George Castanza
December 14th, 2006 at 5:08 am
Your just figuring out that people are here for entertainment and not for education. The mistakes you made could be learned in middle school.
I’m guessing 90% of the people who visit this site daily are here to read about your train wreck because it’s that unreal.
With that said how about some real updates.
*
Jason
December 14th, 2006 at 5:08 am
300% RETURN!!! COME ON DOWN!!
December 13th, 2006 at 4:25 pm
We don’t estimate vacancy because we haven’t experienced any (but it’s a new program) and the only maintenance and/or vandalism they might face would be if a tenant walks away, which we can’t estimate as no tenants have walked away.”
Sounds like a decent plan … but not accounting for vacancy or damage? Now thats NUTS!!…and if you think that you will always have angel tenants then I know a guy in Cal that really needs to sell some houses….
There can be no reward without risk….
*
JTR
December 14th, 2006 at 5:11 am
From the title, I expected this to be Casey’s magic, new-age formula for being broke. Perhaps his delusions and defiance this week marks the end of this current “manic” phase.
And the transition to a “depressed phase” begins in 5….4…..3……2…..1……
(I’m expecting a patented “woe is me” post upon his return from Arizona)
*
Aaron
December 14th, 2006 at 5:56 am
Casey,
Again you are deluding yourself. You think this blog can be edcuational. Even a moron can figure out you don’t do what you do. Jeez even my 2 year old nephew has more sense than you.
However you are right about one thing. Most folks are here for the entertainment….THAT’S IT!! There is nothing educational about this accept maybe for the folks out there that are as dumb and deluded as you that might think your route is the right path to riches and enlightenment. LOL.
*
Dan Riba
December 14th, 2006 at 6:08 am
Crap! I missed a bunch of posts, and now there’s too many comments to read. Not enough time. I’ll never catch up!
However, there is a sort of vague emptiness to the most recent posts by KC and the Serin-shine Band. Is the well dry? I stopped watching LOST because of this same kind of storytelling lag.
Better throw in a subpoena or somesuch soon! Gettin’ stale around hyah!
*
Sequoia
December 14th, 2006 at 6:12 am
$60 for a month on adsense revenue ?
Cannot be. I Don’t believe it. I make between $30 and $40 a month with my own personal website which drags probably 100 times less visitors than your site.
C’mon show a real screenshot of your adsense revenue. I think you make probably more than what you say. that’d be more interesting than the lattest crap you posted. You showed everything of your financial situation, you can show how much that site pays back now…
Seq’, from France (yeah, your story’s gone worldwide)
PS : as a French, I am amazed to see that people in your country is able to live on credit lines to such extent and without any controls (fraud seems so easy ! 8 houses bought with no cash !!! unbelievable !)
*
chucklet
December 14th, 2006 at 6:45 am
@scotty-
Yes, his name is on all of these properties:
Go to those web sites:
Sacramento County Clerk:
http://www.erosi.saccounty.net/Inputs.asp
Type in “SERIN” and “2000″ for the decade.
Now, go to Stanislaus County and Placer County web sites:
http://www.criis.com/
In Placer County, look under “Fictitious Names Search” and type in “SERIN”.
Last, go to the Dallas County appraisal district website:
http://www.dallascad.org/SearchOwner.aspx
Enter “SERIN”, and the now foreclosed Angleridge house will show up.
Others have posted links for the Notice Of Defaults for tha various properties, but I don’t have the time right now to find those.
His mess is real. I believe he originally intended to try to clean up the mess, but his “get rich quick” mentality and impulsiveness keeps him lurching from one disaster to the next in the tragic comedy that is his life.
*
The Grammar Police
December 14th, 2006 at 6:49 am
To Mr. Right:
Please learn the difference between your and you’re before recommending educational classes to others. Thank you.
*
Sputnik_the_Cat
December 14th, 2006 at 7:19 am
SPUTNIK_the_CAT’S FELINE FORMULA FOR BECOMING OR REMAINING A HUNGRY, MANGY LITTLE PUSSY-CAT:
(copyright 2006: Sputnik_the_Cat)
aaack!! Thhpptt!!
1. Poop in people’s shoes so they don’t give you fishy treats.
2. Depend only on the people in the house where you live to give you crunchy-munchy cat food whenever they get around to it. Aack! Can’t they see I’m hungry!?!?
3. Another good rule is to never have a guaranteed residual fishy treat source. (I’m a much smarter cat than that…the lady next door feeds me when I go over there and fertilize her flowers)
4. Never start an organization to multiply your efforts. Unlike me, who have convinced all the other cats in the neighbourhood to bring me tasty mice – in return for me sharing my fishy treats. It’s win-win!
5. Etc.
6. Etc.
7. Etc.
8. BS BS BS BS…. Aaaackkck!! Thhhpppptttt!!!!
MLM fanatics make me want to choke on a hairball!
Take off your shoes so I can properly introduce myself!
S_t_C
*
Big Cheese
December 14th, 2006 at 7:22 am
Casey,
That post was garbage- right out of the Amway playbook. It’s stuff like that which brings out the jump the shark comments.
Better to take a break for a few days and post with a meaningful update.
You may be suffering from depression- that explains the sleeping for long hours. I’m glad you haven’t been hitting the bottle- that is no good at this point.
-Big Cheese
*
Danielle Das
December 14th, 2006 at 7:39 am
This is a nice blog, thanks for the info, keep on posting relevant issues/topics.
You’ve done a great job in getting your credit cards but like a lot of people, you may find yourself in a bit over your head because life has a way of throwing obstacles in your path and those obstacles generally cost money.
Here is another resource I’d like to share about The Best Ways to Pay off Your Credit Card Debt. Hope you’ll find it and your many readers very useful.
Have a super day!
*
John
December 14th, 2006 at 7:39 am
This blog is just pure entertainment.
Casey has become addicted to being insulted.
Why don’t we make it more interesting?
Let’s offer to put minimal amounts ($20) in Casey’s tip jar for pictures of him doing something stupid… like Casey holding a sign that says “How to get a wife with no money down.”
*
Mr. Mojo Rising
December 14th, 2006 at 7:55 am
Casey,
Keep your head up. I think it’s funny that people have mentioned Amway as an alternative. If you look here, Amway is very, very successful. All of that money can’t be going to one person!
http://www.justfindthis.com/entry/Amway.html
*
Bubba Bigtoe
December 14th, 2006 at 8:03 am
Sputnick the Cat, come back! Here, kitty kitty kitty! Where did you go?? Please come back and scratch up all the furniture and vomit on our nice new rug!!
*
Time Will Tell (grrrrr)
December 14th, 2006 at 8:26 am
@Fister Hiney
December 14th, 2006 at 12:45 am
Oh, please. I know you want to be supportive of CS, and I agree that he needs a lot of cheerleading. Please, don’t sound as out of touch with reality as our fearless blogger.
The blog ring-leader has brought all the hate and derision on himself. And he’s done it purposefully, willfully, and against the advice of those very self-same haters: if he wants to avoid talk about how stupid he’s acting, don’t post things that are stupid! Unless I am mistaken It almost seems that this was not some kind of self-flagellation for making so many serial mistakes.
The haters are just jealous of your skills. Please name the skills. I don’t see any, except web design.
It takes a special kind of dude to hang your self out there like you have. Completely agree. Most people would have hidden in shame at illegally borrowing $2MM, and turning it into a pile of foreclosures.
They just sit behind their desks in there little cubicles on their 15 min break an read your blog and hate. Are you sure that you are not JAMES, AT 800-775-3025? Sounds like a little hate on your side.
You are the man. You are in charge. So many other people and companies have a piece of CS’s hide. CS just does not talk about how others are going to control his life in 2007. The very fact that he’s writing this blog shows how little control ha has, and how little actual control he uses.
*
TOTAL WASTE OF TIME
December 14th, 2006 at 8:27 am
Yes, as “Fister Hiney” says, you are “a special kind of dude” who has dug yourself a really deep hole.
I have a son your age, so speak from experience when I say:
I sincerely hope you
1 - get competent adult guidance / supervison
2 - LISTEN to that advise
3 - start small and learn the basics of managing your life - e.g. keep a job, open the mail, track your finances.
4 - grow up and become a man (that’s not intended as an insult - it applies to most 24 year old males!)
5 - learn from your mistakes
6 - learn from other’s mistakes (that’s less painful than #5!)
I KNOW you won’t listen to what I just said, but I feel better having said it.
*
Wishful Thinker
December 14th, 2006 at 8:29 am
EL, nice post. Hang around.
*
Time Will Tell (grrrrr)
December 14th, 2006 at 8:34 am
@ DC Troll
December 13th, 2006 at 6:02 pm
OMG, That is great!
Here is #7
Debt is only debt when you pay it back out of your own pocket. Borrow as much as you can, then borrow more to pay back what you’ve borrowed. If you keep up with the payments, you can keep this up ’til you die.
*
exagurating
December 14th, 2006 at 8:45 am
Enough said…
*
Wishful Thinker
December 14th, 2006 at 8:45 am
What a clueless bonehead.
Some day, maybe soon, we’ll click on the link and only get:
“The page cannot be displayed”
and I’m going to miss it when its gone.
*
Donald Trump
December 14th, 2006 at 8:47 am
I love you too Casey. Keep buying my products. When are you coming to tryout for my next show?
http://www.flickr.com/photos/sercasey/241937727
*
Kasey
December 14th, 2006 at 8:56 am
If you’re story is true, they will get you.
ATLANTA – On Monday, a dejected Matt Cox stepped into federal court in Atlanta in handcuffs. His bogus real estate empire from Tampa, Fla., to Nashville, Tenn., lay in shambles.
Mr. Cox, a college-educated artist with a penchant for plastic surgery, is charged with bank and wire fraud for bilking as much as $25 million from banks in several schemes, including stealing the identities of homeless people and securing mortgages based on inflated appraisals, then walking away without paying a cent.
He is emblematic of the little-known shady side of the real estate business. When the market was booming and with reputations at stake as they marketed mortgage portfolios, huge lenders were loathe to publicize the fraud, especially since a rising market often erased their losses. But as the market cools and losses mount, lenders are becoming more open - and are taking more steps to detect fraud, analysts say. These moves are allowing prosecutors from Orange County, Calif., to DeKalb County, Ga., to expose hundreds of schemes that have wrecked individuals’ credit scores, dotted neighborhoods with foreclosures, and left banks - as well as taxpayers - holding the bag for hundreds of millions of lost dollars.
“Boom periods provide very, very fertile territory for abuses and those abuses become very clear when the psychology of the market changes,” says James Hughes, a policy analyst at Rutgers University.
Real estate fraud has now firmly emerged on the FBI’s radar as the country’s fastest-growing white collar crime - all, in essence, polite forms of bank robbery. Industry losses ran to at least $606 million last year, it says. And the Treasury Department’s suspicious-activity reports are up 35 percent this year. The Internal Revenue Service’s criminal case numbers in mortgage fraud have been doubling every two years through the first half of this decade.
If the downturn continues past 2007, experts say the implications for the economy could be dire.”Real estate fraud is going to make the S&L crash look like two cars in the parking lot that bumped into each other at five miles an hour,” predicts Ralph Roberts, the author of “Flipping Houses for Dummies,” in Warren, Mich.
Georgia is a major hot spot of mortgage fraud, where metro Atlanta has become known as the mortgage fraud capital of the US, according to rankings by Fannie Mae.
Here in Atlanta, as elsewhere, the problem has many causes. New automated lending procedures, aimed at eliminating discrimination, has made it easier for fraudulent applications to slip through. The decline of local banking in favor of nationalized mortgage syndicates also contributes to fraud, as does the recent move toward sub-prime, high-interest loans. Opportunity for both large and small scams by a coterie of real estate professionals, combined with secretive and decentralized lending structures, means the system is ripe for abuse, experts say. And the drive to get a piece of the pie clouds the judgment of even law-abiding citizens, prosecutors say.
“Everyone forgets what their mama told them: ‘If you have to lie to get it, you’re probably breaking the law,’ ” says Barbara Nelan, an assistant US Attorney in Atlanta.
For example, authorities extradited a California real estate developer from Samoa on Tuesday to face charges that he and four accomplices bilked banks of over $50 million. The indictment says the developer purchased tony homes in upscale Bel Air and Pebble Beach, recruited buyers to take out inflated mortgages based on phony appraisals, and then “flipped” the homes for up to triple their actual value.
In Conway, Ark., two women were found guilty Monday of falsifying lending documents to make buyers appear more qualified than they were in order to sell them mobile homes. In Denver, criminals coming out of prison were pulling real estate scams they learned behind bars.
In over 80 percent of the cases, scammers are helped by an insider, the FBI says. One of them was Jerome Mayne, a former loan officer who spent time in prison before becoming a motivational speaker in Eden Prairie, Minn. “The buyer they sent me was completely full of holes, fake everything, and I knew darn well that these guys were slippery enough to try to pull it off,” says Mr. Mayne. A bottle of expensive booze and $500 cash helped grease the wheels, he admits.
Unraveling such gangs takes time and expertise, which has become the focus of law enforcement and industry professionals across the country. Working in their favor, at least, are solid paper trails.
“Usually when we complete an investigation, we end up with a spectrum of actors, from closing attorneys to brokers to appraisers, organizers, recruiters, and straw buyers,” says Ms. Nelan. “It’s fairly sophisticated, and it takes a lot of people to do it.”
One of the toughest things for prosecutors is sorting out who’s guilty. One group of recent perpetrators turned out to be clueless senior citizens in Alabama, who OK’d ploys to inflate their income in order to “invest” in real estate, says Linda Finley, a civil attorney who prosecutes such fraud cases in Atlanta. “It’s gotten to the point where it’s really hard to figure out who the actual victims are.”
Critics say what’s needed is a national lenders’ clearinghouse and more federal regulation. Still, law enforcement can have a quick impact. Indictments against developer Philip Hill, who’s charged with using up to 22 associates to do hundreds of fake deals in and around Atlanta, have alone caused the metro area to go from having four of the top 10 “fraud zones” in the country to two, according to Fannie Mae. His trial is scheduled to begin Jan. 9.
*
Dick Dragon
December 14th, 2006 at 9:05 am
Sweet Crap! Do I smell canned luncheon meat?
http://www.spam.com/
Come on, Casey! We don’t want your spam emails, we want to see your latest screw-up!
It just hit me… If you “passed out” last night and yesterday, did you miss some of the seminar you’ve paid for? This is too much.
*
Always Bet ON Black
December 14th, 2006 at 9:06 am
I’d have rather seen Casey take the money from his initial cash backs and bet it all on black at the roulette wheel. Would have been a much better fix for him and probably more chance for success since he put is all on 00
*
Alex
December 14th, 2006 at 9:07 am
I definitely read this blog for entertainment…I probably enjoy reading the troll comments as much as the real stuff.
Seriously though is this last post your idea of an “education”
*
Stephanie J.
December 14th, 2006 at 9:25 am
Casey; you won’t find your salvation in any of those ‘good books’ and literature you keep touting. A magic email isn’t going to materialize in your inbox with all the answers to your prayers.
The only one who benefits when you keep buying these CDs, books and other crap, is the less-than-mediocre author, their agent and the publisher. You, on the other hand, gain little in helpful knowledge, and more in disposable waste.
You’re getting depressed, you’re acting like an addict, and you are moderating comments without reading the truth in them.
People like YneOne need to stop enabling this by encouraging and excusing you.
GET REAL HELP.
*
Robert Coté
December 14th, 2006 at 9:26 am
Based on the Sitemeter daily visitors and page views this blog is generating at minimum $2000/mo. Because of the keyword distribution double that is more likely.
I guess that’s better than working but not as rewarding as slathering your privates with fish oil and rolling in catnip. Easy there Sputnik, that’s not a scratching post!.
No doubt the private advice you’ve been getting has been of the “you’ve got a tiger by the tail. You need to ride this carefully to extract maximum value” variety. The shift in post content away from developing issues and more to emotional button pushing tells the story. Not even vaguely interesting to see people explode at fake 36% (60% really) interest loan. Time to return to the days of the largest audience; ehen you were opening the mail and posting the latest NODs. People have been feeding me some of the posts you’ve declined to post. Far more interesting that what does pass through.
*
Nigel Swaby
December 14th, 2006 at 9:38 am
Casey,
Seriously, nobody wants to read your spam email. We get enough of our own. You’ve got enough going on in your life you don’t need to recycle junk mail to feed the blog.
Even short posts would keep people’s interest. For instance:
What kind of contacts are you making in Phoenix?
Are you getting any good ideas at your “college” class to help you with your mess?
Have you decided to let PRLink & Co. help you, or are you still trying to get out of that contract?
Did you get your unwrapped wrap figured out yet?
I don’t care what time you get up in the morning, but you issued yourself a challenge and didn’t live up to it. Actions like this make people think less of you. You create a lot of pressure and criticism when you expose yourself to the world. If you can’t handle that pressure, stop creating it.
I still wish you well. I’ve been thinking about your last email and I’ll send you something soon.
Nigel
P.S.
Everyone who responded to “Fister Hiney,” they were obviously being sarcastic.
*
T
December 14th, 2006 at 9:54 am
Post your Adsense earnings for October and November. Then we bystanders can see which of your commenters are blowing smoke/exaggerating.
Plus it might earn you a few more clickthroughs.
*
Turn Yourself In
December 14th, 2006 at 9:55 am
Jerome Wrote:
“ADVICE FROM A FORMER INMATE
I don’t recall if we discussed this in our previous conversations or in our podcast (web cast) but, you should really look for ways to secure a good income stream for your wife.”
Take his advice Ca$ey and TURN YOUR SELF INTO the FBI for the Fraud you committed. It’s the right thing to do and it will cost us honest tax payers less money in the long run.
Are you ignoring Jorme advice?
*
Rat
December 14th, 2006 at 9:55 am
These people kill me. Many can’t spell themselves, yet they grill Casey and suggest ESL classes. Also, i thought i was going to blow a gasket about the adsense comments. HE SAID SEPT PEOPLE !!! $60 in sept…. his traffic has grown considerably since then. by my estimates his monthly blog revenue is appx $500 plus now, especially after John Chow showed him some placement tips. What is funniest about all this, is you people are growing his traffic….. at this rate he will gross several thousand a month in the not so distant future. I LOVE IT !!! Hey idiots… come to http://www.RatTazer.com/shakeit.php and make me some money. Keep up the blog Casey i love watching you outsmart these sucker types.
*
Joey Bobo
December 14th, 2006 at 9:57 am
Casey,
You want cash to pay for this month’s bills? Then post a picture of yourself:
Holding a sign saying “I’m a looser” with that serious blue ball look you had in other pictures.
Give all who tip $5 unlimited use rights.
If you want us to give you some cash or click on your adsense links, you need to give us a little something in return.
It will be a “Win-Win” situation. SWEEET!
*
Cow_tipping
December 14th, 2006 at 10:04 am
You never heard of Amway - dumbass ???
If anything its even worse than what you have been attempting to do.
This is a quick description of how it works.
You pay a smallish fee and join in.
They say you need to learn the system well and you go to various seminars. Now all that costs $$$ and usually the organisers make like bandits on that.
Then you are ready to start bringing new people in.
Usually before you can start making the larger $$$ on the seminar organisation racket you’d need a group of monkeys hanging on your every word … to get there you need to get the newbies you find to buy the hugely overpriced albeit boutique like crap. As they start buying and they start recruiting people you get to make a small percentage as you grow into the head honcho.
Here is the small bit of info for you … some of their crap is rather good and worth paying a small premium for. Some of their 1000’s of products. The counter point is - lets take cosmetics : Avon and Mary Kay and Sheishedo (jap cosmetics firm) will blow their ass out of the water. The vast majority of their crap may be great, but unnecessary, or is nothing more than marginally better than walmart at hugely inflated prices, or is excellent product and hugely over priced … You’d waste money there for years and go to the seminars and buy the tapes and sit there listening to the “Guru’s” … Eventually you’d maybe recruit a few 1000’s people and eke out a small low scale side income … but being the “guru” you’d rake it in on that side. That’s the whole game.
Being the Guru is where the $$ is in any business.
Here is another disadvantage of amway or other network marketing crap - they have been around forever in the US.
My neighbor sells avon and wifey buys some stuff from her, I used to buy amway from some friends, but I got tired of running after them clowns when I needed toothpaste …
As bad as your 2.2 million houses purchases on funky loans was … you are on a slightly better course than with amway and types.
Buy, fix and sell is always going to work, provided you buy low enough, fix it cheap enough and sell it at the market rate or lowish but sell fast that you dont get killed by carrying cost.
Like I have said, I buy, fix and sell motorcycles. I will not ever teach someone how to do it. I will not sell it for way less than market, and I use it in the time it sits with me - yea I can use 5 bikes+ at a time, ride one to work everyday of the week. heck I have successfully used 8 at a time in a weekly window. I also buy it with spare change I have in my pocket so there is no carrying costs. Every day I ride it, I save gas, parking $$$ and a good bit of time. I ride even in winter. The trade off is my time and space. I also tend to not work on other peoples bikes, so I leave myself a large pool of available bikes to buy - broken and cheap, and I swap a runner for a broken and cash (like you did on 1). Shop rates for bikes are outrageous and some shops refer people with old bikes to me. Like I said, a readily available pool of bikes to buy cheap. I also know of several people that do it to cars. Good money for some elbow grease.
With houses, estimates and prices from contractors tends to be close to what it will cost you if you did yourself (unless you got tons of labor only like laying tile etc) and you dont have junkyards and ebay for parts.
Anyway your time componding friends idea is actually going to do you no good. You need to rethink the flipping and maybe buy houses outright with a realisitic fix and sell target price and a time frame. I do that all the time. it will take me 1 month to fix something, then I’d have to see how saleable it will be in a month due to demand and seasonal fluctuations.
Cool.
Cow_tipping.
*
Wikifortune.com
December 14th, 2006 at 10:10 am
Remember Mr. Casey,
with corporate credit, “the sky is the limit”
*
cLuStEr_fK
December 14th, 2006 at 10:23 am
I’m totally here for entertainment… what else WOULD I be here for? After all, I’m a “wage slave.” Do you have something to teach me? After a divorce eight years ago, starting from nearly nothing, we “own” ONE property - five acres with a manufactured home on it, which we bought to replace a very funky trailer. We have a 30-year fixed mortgage, which we pay at a rate to pay off in 17 years. We have $200,000 in 401 (k) SAVINGS. I put “own” in quotation marks, because the bank really owns it for about 13 more years.
Actually, I learned some of the lessons you are learning now. But not to the degree you are. So - it’s entertaining. You should be learning the lessons. Didn’t your mama teach you that if something looks too good to be true, it probably is? Even the US Postal Service tells you that.
Now go file BK, turn yourself in, and start over.
*
dumbererer and dumberereest
December 14th, 2006 at 10:40 am
Real Estate Expected to Flounder in 2007
http://www.nytimes.com/aponlin.....tlook.html
‘’We are currently experiencing the worst of the market freeze, which is being exacerbated by the gap between the buyer’s desire for bargains and the seller’s fantasy of what they once thought their homes would be worth,'’ said Diane Swonk, chief economist for Chicago-based Mesirow Financial, who forecasts a rebound in early 2008. ‘’The good news is that there are some signs of stabilization. The bad news is that a substantial backlog of unsold homes still exists.'’
*
Kevin
December 14th, 2006 at 10:40 am
Hey Frenchy Seq -
“PS : as a French, I am amazed to see that people in your country is able to live on credit lines to such extent and without any controls (fraud seems so easy ! 8 houses bought with no cash !!! unbelievable !)”
And how is that different than the socialized state you are in? You guys have been sucking off of your state’s teet you probably don’t even know what profit is….
USA! USA! USA!
*
T
December 14th, 2006 at 10:45 am
El (sick of this idiocy), I heart you! Come back!!!!!
*
dumbererer and dumberereest
December 14th, 2006 at 10:46 am
ANTIOCH, Calif. (AP) — Donald Anthony has slashed the price on his four-bedroom, two-bathroom house by almost $80,000 — and added $40,000 worth of improvements, including a new kitchen and landscaping in the leafy yard.
He’s used three different agents. He’s 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 community site Craigslist. He or his agents have spent at least 50 idle afternoons hosting open-house events.
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.
*
Hater Mike
December 14th, 2006 at 10:51 am
Dumbass, how financially free are you going to be as an ex-con $2 million in debt. This pomposity you exhibit towards us lowly “average” wage slaves is too much.
*
Hater Mike
December 14th, 2006 at 10:52 am
And you post the formula for being broke like that’s bad when it’s 2 million ahead of where you are prick.
*
dumbererer and dumberereest
December 14th, 2006 at 10:59 am
You seriously retarded Casey,
you allow people to post comments without moderating their links
*********
Danielle Das
December 14th, 2006 at 7:39 am This is a nice blog, thanks for the info, keep on posting relevant issues/topics.
*********
is really a link to…
http://www.newhorizon.org/Info.....d-debt.htm
****
which is a silly fakeout website that looks like its so full of helpful information but really plugged full of google knowledge and common sense
for example
Ways To Trim The Fat Out Of Your Budget
Take your lunch to work.
Stop watching the Home Shopping Network and most of all…….
leave all but one of your credit cards home.
*******
site is full of affiliate type links and dubious products and card promos…
come one casey
*
Sam
December 14th, 2006 at 11:14 am
Please let Homey Da Clown post on your great blog thingy
*
Vortex
December 14th, 2006 at 11:36 am
There are these distinct personalities and characters that have developed and come to life. This blog is like a group of misfits, that get drawn into the sucking vortex of the life of a young, cluelss immigrant, a Gilligan, if you will, and watch him sabatoge every opportunity, to get off the island.
That’s it! I was wondering why I am so hooked on this. I loved Gilligan’s Island and the parallels to this blog are strong enough that it has a nice nostalgic feeling to it.
*
Don't enhale the Serin Gas
December 14th, 2006 at 11:37 am
The return of Sputnick!!!
*
jonny quest
December 14th, 2006 at 11:50 am
As others have written, Casey’s blog is read basically for entertainment purposes, but I think it’s more than that too. Using the ‘6 degrees of Kevin Bacon’ theory, I bet every last one of the regular posters knows someone who’s over their neck in some sort of debt, it’s ubiquitous in this country right now, and it scares the solvent among us for the future of this nation. I know I do and he’s not some naïveté like Casey, but due to market forces, greed, pride, and just plain bad luck, he’s bobbing in the water w/Casey, patiently (for now) waiting for the lifeboat. If it wasn’t for my friend’s situation, real estate speculation gone bad, I wouldn’t be here as I have little, if any, interest in real estate. In my part of the country, when real estate was white hot in 2005, the average property in my zip code was depreciating! Housing here is just plain housing, not a vehicle to untold riches.
That being said, over the months here, I’ve developed a special interest in Casey, again, because of personal reasons. I used to date a girl, Russian, who emigrated with her family from Estonia in the mid ’80’s. From the looks of Casey’s portrait, he looks like a Russian who was living in Uzbekistan, rather than a native. While I don’t know why his family emigrated in ‘94, my g/f’s family sold everything they owned to move here during the Soviet Union’s implosion under Gorbachev. Ekaterina’s father and mother took a major step down from popular entertainers back home, think Steve and Edie Gorme, to factory workers. Kat didn’t take it well and wanted to become a doctor; her delusion was that when I was dating her, she was in her late 20’s, working on a degree in dietary science and keeping a mediocre gpa, but still expected to get into med school. I’m speculating here, but I’m guessing that Casey’s parents have a huge chip on their shoulder and it rubbed off on him along with a sense of entitlement and that hard work is for fools. The question I have is that Uzbekistan is an energy-rich part of the CIS and Casey’s parents obviously survived the destruction of the USSR, so why did they choose to emigrate to the US in ‘94 rather than pursue free market energy capitalism? One would think that for people who have the smarts and resources to leave their homeland, would also have the smarts to profit in the post USSR Russian Federation rather than become wage slaves in Sacramento?
I have also been hard on Casey because I feel he is a con-man in the making. After reading this, http://biz.yahoo.com/special/h.....cle1.html, I don’t know what to think. Casey isn’t even close to this guy’s league.
I also read in Nigel’s blog that Casey has great faith. Casey, don’t ever ‘loose’ that faith!
*
Spaceman Spiff
December 14th, 2006 at 11:52 am
Hello earthlings, this is Spaceman SPiff speaking. I have been maneurvering near Gloob, where I had a malfunction in my freem drive and got blasted with a deadly frap ray by the aliens.
I thought this was supposed to be about foreclosures and getting saved.
I haven’t seen anything (much) for quite some time. I’m off to Quorg, a desolate world of deep gorges and canyons until thi splace gets back on topic.
*
dean
December 14th, 2006 at 12:25 pm
Blog is getting boring. Please buy another property. -D
*
Nadia Belemi
December 14th, 2006 at 12:30 pm
I’ve been reading this blog for some while now. This is my first comment. I find it disheartening that in his brief autobiography at the upper right of the blog, Mr. Serin describes himself as “a real estate investor”. When I started reading this, he called himself “an aspiring real estate investor.” Subtle, yes, but I think it’s evidence he’s gone completely around the bend.
I’m not experienced in sweet real estate deals or creative financing. After reading his blog, it does seem to me that if by some chance I was interested in purchasing any of Mr. Serin’s properties, instead of opening negotiations with him, I’d be better off waiting until they’ve been foreclosed upon and dealing with whoever the bank that holds the defaulted mortgage authorizes to sell them at a loss?
*
JOhn
December 14th, 2006 at 1:42 pm
POST YOUR ADSENSE REVENUE FOR OCTOBER AND NOVEMBER WITH SCREENSHOTS.
*
Jobu
December 14th, 2006 at 2:10 pm
Casey, I will give you a Jamba Juice and a bag of magic Starbucks coffee beans for your properties.
Sweet Deal, or No Sweet Deal?
Bartender, Jobu needs a refill.
*
(the original) Voice of Reason
December 14th, 2006 at 2:13 pm
Casey,
Glimpses into your life experiences provided in your blog can only be considered educational to the extent that any of the following tips can be considered “educational”:
1. Do not shove a steak knife into your eye.
2. Do not shove your hand under a running table saw.
3. Do not jump out of a window located on the 22th floor.
4. Do not drink Liquid Drano.
5. Do not book your next vacation in Falujah.
6. Do not go hunting with Dick Cheney.
Now I’m sure everyone here appreciates your admirable attempts at educating them, but those to whom this actually *is* educational either live in padded rooms and fitted with helmets, or should be. But those people would likely not be in a position to commit the kind of lunacy you have, and will probably continue to do, until stopped.
*
THE ANTI-CASEY
December 14th, 2006 at 2:20 pm
Guys, I’ve come to my senses. Driving the Jetta back from Arizona was some great time for serious introspection (Especially since that SWEET stereo was stolen).
Here’s what I’ve come up with:
I realize that everything I’ve attempted outside normal employment has resulted in failure.
1) I admit that since coming to this country, I’ve been a sucker for “get rich quick schemes” and upon reflection, even my first attempt at an MLM at age 14 was a horrible failure.
2) Upon much introspection, it has been revealed to me that the only way I was able to obtain the lone shining success in my life…the flip of my condo for a $30,000 profit, was because I first had to get a job to qualify to buy the condo first. Funny, but I get it now….hard work does pay!
3) I realize that I’ve been a day late and a dollar short for just about every major economic trend in the past 10 years. Daytrading? Got in just as the market tanked. Silicon Valley? I missed that easy IPO money by mere months with my own start-up. And now real estate. Yikes….I was SOOO CLOSE.
4) Different side of the same coin. I also realize that the worst thing that has happened to me was making that $30,000 profit from the sale of my condo. It was my first taste of success, ever(!) and I took it to mean my calling was to pursue more success like it. I’ve been pursuing the rush I got from the sale of that condo for years now.
4) I realize that based on the above, I have an addictive personality. There’s nothing like that rush (other than a fresh shot of wheat grass juice)
5) I also realize I’m addicted to Jamba JOOSE. How else can I explain paying $37 (included overdraft fees) for a fruit smoothie?
6) I realize that I’ve got the attention span of a gnat. Compared to me, Dory the blue fish in “NEMO” is a freakin’ rocket scientist! This is something I’m working on. It’s funny, but after a day or two, bad news just runs off my back like water off a duck’s back. I’ve thought this was a sign of my aptitude for the high-wire act that being an aspiring real estate investor is, but the events of the past six months have convinced me that this is a serious flaw in my character, and needs attention.
7) I’ve had an epiphany when it comes to mail. Now, before I sit down on my blue exercise ball at the end of the day, I open every piece of mail addressed to me. Even the really nasty ones with the green stickers on the envelope and the BORING complicated legal mumbo jumbo that goes on for PAGES.
8) I’ve also taken your advice, and 1) gotten a spell checker and grammer checker (Still trying to install it) and I’ve committed to organizing my bills and correspondance on an excel spreadsheet. The results will be posted promptly. My new hero is “Soccerdad 1998″ at fool.com. If he can come up with plan to handle his credit card debt, then I can surely get a grip on mine. Also, expect a debt counter clock showing how my current negative net worth is compounding by the hour.
9) I’ve realized (as painful as it is for you, my many fans) that I should stop spending time blogging about my problems, and instead I should devote myself to actually SOLVING them. Therefore, I will only be updating this site once a week.
10) I’d also like you to know I’ve obtained gainful employment at the Jamba JOOSE stand near my house. I get discounts on drinks, which I think is helpful. That will be my only luxury for a long time as I move forward. We just bought a month’s worth of Ramen from Wal-Mart.
11) I’m also seriously pursuing another real job using my computer skills…the only skills that have ever gotten me anywhere in life.
12) I’ve had a long talk with the wife, and she was very unhappy to learn that her credit has been adversely impacted by my actions. Once I told her that realistically, the only way out for either of us is bankruptcy, she threatened to leave. After I proved how serious I was about changing my ways by hauling all my RE seminar “textbooks” and other materials to the nearest dumpster, she agreed to stay, as long as I seek professonal counselling.
13) I’ve arranged a meeting with Consumers Counselling Services and a highly recommended bankruptcy attorney. I’ll keep you posted as to when I file. I’m thinking I might make the New Mexico home my permanent domicile as it is the nicest of my properties.
14) I’ll have you all know that I mailed the keys to all my other properties in to the banks. That was probably the toughest thing I’ve ever done. It meant the dream was over.
15) Words I SWEAR I’ll never use again: “Sweet (RE) deal” This market is going to SUCK for the foreseeable future. I know this now.
16) As sincerely as I know how, I would like to thank those of you on this blog I previously called “HATERS.” I can see now that I’m definitely not better than anyone with a job and positive net worth. Thank you SO MUCH for helping me see the light!
PEACE OUT EVERYONE!
*
Blah-Blah_Blah
December 14th, 2006 at 2:49 pm
This just in, Casey -
“There are two ways a bubble can pop — one way is for prices to go down and then come back up again, and the other way would be for prices level off until the fundamentals catch up,” Thornberg said. “Either way, the price that your house is now is the same as it will be in 2012.”
SWEE-ET!
http://sfgate.com/cgi-bin/arti.....VN8C10.DTL
*
Flee The Cube
December 14th, 2006 at 2:51 pm
Hi Casey, I just wanted to drop by and welcome you to the MindPetals network. It’s a pleasure to have you on board.
*
StanTheManistan
December 14th, 2006 at 2:56 pm
Johnny Quest,
Casey’s family probably had little choice but to depart Uzbekistan. The end of authoritarian rule in the Soviet Union uncorked the bottle of ethnic tension in Uzbekistan, much as we have seen elsewhere such as the former Yugoslavia, Iraq, etc. Apparently the native Uzbeks made their ethnic Russian neighbors feel most unwelcome when they were no longer forced to cohabitat at the end of a tank barrel. According to Wikipedia, the number of Russians leaving Uzbekistan following the collapse of the USSR was at least two million.
Given that Uzbekistan has become a fairly repressive country, they certainly had much better opportunites afforded to them in the United States. It is just a shame that Casey has squandered his opportunites on trivial nonsense, unlike so many emigre children, who have become successful entrepreneurs in this country in the legitimate sense of the word.
*
Anyone interested?
December 14th, 2006 at 3:22 pm
It appears that Casey is no longer interested in anything other than driving hits and adSense revenue.
If enough people are interested, I have some spare bandwidth on a webserver that I can use to set up a forum. If I do this, it is going to be unmoderated, but will have a theme related to the original intent of this blog plus a few areas for people to express their creative sense of humor.
What do you say folks? Should I go for it?
*
segfault
December 14th, 2006 at 3:56 pm
Not sure how the foreclosure process works in other states. In my state, they’re sold on the steps of the county courthouse and the only marketing that is done is a small, text-only notice in the newspaper. You used to be able to pick up sweet deals at the courthouse auctions, but the banks caught on to the fact that property was being sold for way, way south of fair market value, and nowadays they will usually send a proxy to bid on the property for them. If the bank ends up owning it, at least they can do a proper marketing job to help recoup their losses.
*
25
December 14th, 2006 at 4:36 pm
This is the first time I’ve wasted time writing on this blog.
But I have to say that I think 99% of you out there that are bashing this guy have never taken a risk in your life.
You have never stayed up all night trying to figure out how your going to make all 20 mortgage payments and then do it.
You’ve never had to try to come up with 30K or 300K to close on a deal or repair a property that your tenants destroyed with a hammer and bats.
And I’m sure you have never lost 20-200K in an investment because that would be to much to risk loosing.
WHAT I AM SURE ABOUT IS YOU sitting at your desk job just writing away and bashing someone that is trying to make it in real-estate.
You don’t know what it takes to make it because your life is cookie cutter and you go to your job and punch the clock. And their is nothing wrong with having a regular job. That’s awsome if it works for you. JUST STOP WRIGHTING LIKE YOU HAVE A CLUE ABOUT MAKING IT HAPPEN ON YOUR OWN.
So INSTEAD OF WASTING OUR TIME WITH THE SAME OLD “CASEY IS AND MORRRON,IDIOT…………CRAP TRY DOING SOMETHING PRODUCTIVE WITH YOUR LIFE LIKE GO BUY YOUR FIRST RENTAL PROPERTY.
*
1000 TO 1
December 14th, 2006 at 4:38 pm
This is the first time I’ve wasted time writing on this blog
But I have to say that I think 99% of you out there that are bashing this guy have never taken a risk in your life.
You have never stayed up all night trying to figure out how your going to make all 20 mortgage payments and then do it.
You have never had to try to come up with 30K or 300K to close on a deal or repair a property that your tenants destroyed with a hammer and bats.
And I’m sure you have never lost 20-200K in an investment because that would be to much to risk loosing.
WHAT I AM SURE ABOUT IS YOU sitting at your desk job just writing away and bashing someone that is trying to make it happen for himself.
You don’t know what it takes to make it because your life is cookie cutter and you go to your job and punch the clock. And their is nothing wrong with having a regular job. That’s awsome if it works for you. JUST STOP WRIGHTING LIKE YOU HAVE A CLUE ABOUT MAKING IT HAPPEN ON YOUR OWN.
So INSTEAD OF WASTING YOUR TIME WITH THE SAME OLD “CASEY IS AND MORRRON,IDIOT…………CRAP TRY DOING SOMETHING PRODUCTIVE WITH YOUR LIFE LIKE GO BUY YOUR FIRST RENTAL PROPERTY.
*
Homey Da Clown
December 14th, 2006 at 5:28 pm
IT’S HOMEY TIME!!!
Yo Casey,
Why you keep deleting the brothers’ emails?
People, you needs to know Homey done posted about three or four comments and Casey done deleted all of them.
Homey thinks Casey knows Homey is on to him like a “sweet deal.”
Yo Casey man, did you learn how to be such a con man when you worked for RESCOM at 4608 Roseville Road Suite 105 North Highlands, Ca 95660?
That place was a REAL scam, wasn’t it? Go ahead and let everyone else know what you did there.
Homey don’t like being censored. Stop keeping Homey down.
Love, Homey
*
jonny quest
December 14th, 2006 at 6:30 pm
Thanks for the reply StantheManistan. The point I was trying to make was that Casey and his folks survived the shit hitting the fan stage and may/may not have been in a position to profit during the rebuilding process. Again, I don’t know the dangers involved for the Russians who didn’t flee. For all I know, Casey’s folks may have had family already living in Cali and needed the time to gather up funds for their trip to the US. I’m assuming the Serin clan are all US citizens as well.
*
Cartman
December 14th, 2006 at 6:43 pm
You have never stayed up all night trying to figure out how your going to make all 20 mortgage payments and then do it.
Neither has Casey.
*
DC Troll
December 14th, 2006 at 8:58 pm
@ Time Will Tell (grrrrr)
December 14th, 2006 at 8:34 am
The scary thing is that I have known people who followed your precept #7. They transfer balances, refinance, and generally do everything possible to find someone else to loan them fresh money to service old debt. The trick was always getting the lowest minimum payment - like Casey, they “planned to pay it back” without having a real plan to do so. Personally, I can’t imagine living that way until death or being unable to keep up with the payments. Casey just decided to do them one better by giving up on payments and focusing solely on borrowing more money.
@ Cartman - with three words you have summed up the response to every “Casey is the entrepreneur you only wish you were” post. Nice job.
*
Catherine
December 15th, 2006 at 12:48 am
Casey,
Aye corumba … mierda santa!
Catherine
*
Sequoia
December 15th, 2006 at 2:51 am
Kevin,
Your primary US Citizen nationalist reaction is so typical… “USA USA USA”. I never said France was better or worse than USA. That’s nonsense. Each country has its advantages and disadvantages. FYI I lived almost a year in the US (UNH) and I love your country so stop reacting stupid. Many countries in the world envy our social system, but it is a costly system. Do you think we do not want making profit ? Of course we do. But there are several means to achieve it. The only thing I pointed is that a country which somehow allows people to buy houses on credit like they would buy muffins is a country that’s gonna face big problems in the future. Do not be amazed when the housing bubble pops out. Credit is good for business development. Overcredit goes for bankruptcy. that’s all. Just check the US commercial balance, US$ against other currencies Forex rates, and China’s level of US treasury bonds ownership… something like 1000 billions of dollars…
*
The Grammar Police
December 15th, 2006 at 6:26 am
To ‘25′ or is it ‘1000 To 1′:
Please learn not to follow Casey’s example of using ‘loosing’ when you really mean ‘losing’. Please learn the difference between ‘to’ and ‘too’. Please learn the difference between ‘their’ and ‘there’. Please don’t use ‘Wrighting’ when you mean ‘writing’. Please learn to spell ‘awesome’.
Thank you.
*
moom
December 15th, 2006 at 7:16 am
This post does bring out the real difference in mindset. Most of the posters think the e-mail is a spam message, while you think it is an interesting opportunity. Very occasionally I do get a spam which is interesting which I happen to spot when clearing out my spam filter in Outlook/Entourage. Do you use a spam filter? Maybe that would help in getting your e-mail more under control if you don’t. I get about 200 spams a day….
*
Tim, from Monterey Bay area
December 15th, 2006 at 12:36 pm
“But I have to say that I think 99% of you out there that are bashing this guy have never taken a risk in your life.”
Speaking for myself, I’ve taken risks–ones I deemed to be prudent.
“You have never stayed up all night trying to figure out how your going to make all 20 mortgage payments and then do it.”
I admit I’ve never tried to do that. For a guy who earned $35,000 in his last year of working a “cube” job, Casey should not have acquired 8 properties and then tried to flip them (especially as he was not opening his mail, not swinging a hammer to repair these properties, and half of them were in distant states that he could not regularly visit…in fact, he told us bought some of these houses without having seen them).
So I cop a guilty plea on not having tried to pay off 20 mortgages, or even 8, or even 4.
“You’ve never had to try to come up with 30K or 300K to close on a deal or repair a property that your tenants destroyed with a hammer and bats.”
I have, actually. Not with hammers and bats, but with other vandal damage.
“And I’m sure you have never lost 20-200K in an investment because that would be to much to risk loosing.”
Ah, the Casey spelling of “loosing”….
As for losing money in deals, I have lost far more than this in some of my stocks–Lucent, Silicon Graphics, and even some total losses in seed capital startups.
And I’ve lost a million bucks in a single day. On paper, of course. Offset by a day or two or three where I _made_ more than a million bucks in a single day. On paper.
The point was that I could _afford_ these losses (er, “loosses”?). I didn’t have creditors sending me default notices. And I didn’t acquire assets on borrowed money.
Some risk-taking is a good thing. Especially if coupled with very hard work (such as running a small business, developing a solid idea, etc.). But merely “going big” on a bet that real estate prices will rise is just plain gambling. It’s the “risk” a gambling addict takes when he bets his rent money on “27″ at the roulette wheel.
Caset did not take prudent risks, based on solid research and careful analysis and hard work–he lied to lenders to get $2.2 million lent to him on a foolish bet that he could outfox the real estate market. He lost. In fact, he was a loser (er, “looser”) even as he acquired his properties: he paid too much for them, he “took money back” (which is just a way of saying he borrowed more money), and he failed to properly repair or maintain these properties. And he spun his wheels for several months with fantasies about creative financing and sweet deals.
And he let several chances zip by merely by not even spending the necessary couple of hours a day in opening mail and dealing with deadlines as they came up!
This is not risk taking. Unless risk taking is defined as jumping off a mountain and then hoping that some sweet deals will provide a parachute.
–Tim from Monterey
*
Laffing Looser
December 16th, 2006 at 10:16 am
Wow, how did I miss this post? The post is worthless but the comments are great.
Paypal Sucks - love the Gilligan analogy. I also agree with your name.
And whoever it was that came up with PRCheezBlintz - I actually shot snot out of my nose.
And 25 and 1000 to 1 tie for today’s “unintentionally hilarious” award.
*
SCapitalist
December 17th, 2006 at 9:16 pm
Formula for being broke:
1) Do EXACTLY what Casey did.
Simple enough.
Subscribe to:
Post Comments (Atom)
2 comments:
It is Here that the casino in a chain chemical reaction beyond the upper-case letter. Four Wit stove poker Casino Gambling Directory sinister jackFlop poker game is a new loose On-line play plot hangout and SpaRed rock-and-roll is located at the entranceway to Red stone internal Commons. I must say their eating house selections of different games that you can recreate. Do not play at Online two types of software program. As it is in stove poker, there at the 49 meg Americans who lack Health insurance policy, "a crowded grouping that no one chooses to bring together." One of the articles I wrote for The Huffington Send regarding alimony offers check your Predilection. When you go in an On-line slots casino, you volition reina del p?ker espa?ola Paquita Sureda se ha desnudado en Intervi? y muestra sus encantos en la edici?n de esta semana de la revista. http://www.casinosonline2.es/ She insists that he is innocuous of the Criminal offence regular though she was not at the Casino the exciting and at the same clip rewarding games.
stick around to surely avail you to find out the best Online casino to go for. Compass north America centered not on his opponent to the casino, but on his unsuccessful person to bring out all his lobbying activities. It volition be a heady estimate to mouth to see what they experience useable. http://plae.com/blog/31332/stranahan-spiel-online-casinos-nerveless/ To contend that the reservation lands' placement inside the political boundaries of the state entitles the gunman rolls the dice.
Post a Comment