I am Thankful for Facing Foreclosure

Some good advice from the bible that apply to my facing foreclosure situation:

James 1:2-4

Consider it pure joy, my brothers, whenever you face trials of many kinds, because you know that the testing of your faith develops perseverance. Perseverance must finish its work so that you may be mature and complete, not lacking anything.

Phil 4:4-7

Rejoice in the Lord always. I will say it again: Rejoice! Let your gentleness be evident to all. The Lord is near. Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God. And the peace of God, which transcends all understanding, will guard your hearts and your minds in Christ Jesus.

I am learning to consider my Facing Foreclosure troubles as “pure joy” and to “not be anxious about anything”. It’s building my character and making me stronger. It’s preparing me for bigger challanges in the future.

Admitting to wrong-doing and dealing with failure hasn’t been easy. I’ve experienced lots of despair and pressure and had many tough days. On top of that I’ve had many brutal comments and the hate on this blog sometimes gets out of hand. I’m still thankful though. There is a purpose for it all. It’s all good.

I would like to:

* Thank My Maker, The Dream Giver, for providing supernatural peace, strength and resources on this journey
* Thank my wife for loving me and sticking by me
* Thank my friends, family and associates for supporting me
* Thank my readers for feedback, advice and constructive criticism

Have an awesome thanksgiving day with your family! Love and blessings to you!
My True Credit Score / FICO Score
Investor Unable to Stop Foreclosure as Burdett Buyer Walks
80 Comments

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Take Some Responsibilty
November 23rd, 2006 at 4:16 am

I am thankful for:

1) My parents teaching me the meaning of “work ethic”. I learned to cut grass and shovel snow to buy things for myself. Did I purchase a video game unit? No. I purchased an Apple computer that set me eons ahead of my classmates.

2) Having the foresight in high school to bust my ass and get good grades (not really that difficult) to qualify for a “free ride” at a State University. I kept my GPA high enough each semester to ride my “free ride” until the day I graduated.

3) Keeping a job through the latter half of high school and the whole of college all the while maintaining grades and getting involved in extracurricular activities.

4) Graduating college and not expecting to get rich quickly. Rather, choosing to learn as much as I could from people with REAL EXPERIENCE - not false Gods aka “Rich Dads”.

5) Suffering on a low wage (remember those days? strangely they were still loads of fun) until I became a qualified “expert” in my field.

6) Buying real estate at the right time and selling for a reasonable profit. The having the senses to spot a ridiculously “sweet” rent deal when I see it.

7) Recognizing a credit and real estate bubble forming, and steering clear of it, all the while focusing my energy into becoming indespensible to clients. In other words - make money no matter what the economic climate.

8) Having a broad mixture of real assets - stocks, bonds, metals, and cash. Enough to last me YEARS.

9) Having ZERO debt.

10) I could go on and on… But I am most thankful that I am not a f__ked borrower, like Casey Serin.
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Daniel (foreign)
November 23rd, 2006 at 5:05 am

your’re going to win Casey. I bet some dollars on it.
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The Unwelcome Guest
November 23rd, 2006 at 5:06 am

I thank God for Nietzsche.
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Gekko
November 23rd, 2006 at 6:04 am

-

Believe in God - but swim for the shore.
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Sputnik the Cat
November 23rd, 2006 at 6:22 am

Dude,

If the Bible had ANYTHING to say about your situation, there would be a passage somewhere that read:

The Book of Dipshit, Chapter 1 Verse 1:

“Rejoice in the Bank always. I will say it again: Rejoice! For the Bank loveth the Dipshit, and will lendeth him zillions to indulge his schemes. Let your foolishness be evident to all. The Bankruptcy is near. Do not be anxious about anything. Feast ye on Starbucks and Chipotele! By prayer and petition, present your requests to God and he shall deliver your stupid ass from the wrath of the IRS!”

Amen my brother!

Now pass me fishy treats, please.
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CASEYFAN#1
November 23rd, 2006 at 6:29 am

You’re not building character, because you have learned nothing nor changed your ways one bit. You’re not becoming stronger because you haven’t lost anything or suffered much — although that will change soon.
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DREAM DESTROYER
November 23rd, 2006 at 6:32 am

You, and other flippers like you, have destroyed the dreams of millions of others whose property values are now being destroyed. It’s these people who are going to pay the costs for your mistake — in terms of higher interest rates banks will charge to make up the money they lost on you, or in terms of higher property tax bills on the inflated values of their homes.
I am sure you will eventually walk away from the shambles you have left behind, held harmless for your debts in some sort of bk proceeding. But the rest of us are left with the consequences of your Macaroni Grille and Starbucks lifestyle.
God, how I despise you.
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Casey Please Respond
November 23rd, 2006 at 7:23 am

Casey, I have to know you plan to get back into the ‘real estate game’. I just don’t see how that is possible (legally). To buy real estate, you need money and if you don’t have any, someone needs to lend it to you. The whole point of the fico scoring system is to measure the risk in lending money to someone and as you’ve shown in your previous post, fico is saying you are too high risk to lend to! Now I know you can find leads for other investors, but that’s not going to make you $100-$1000 an hour, not even close.
Please respond to this post and tell me how its even hypothetically possible that you could get back into the game, because for the next 5-7 years, I’m not even sure you’ll be able to afford the ‘double-wide’ down at your local trailer park.
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StingyFinance
November 23rd, 2006 at 7:47 am

Casey,

You have made some mistakes in the past, but you have to keep looking forward. What can you do today to improve your situation? You are young, so your mistakes won’t ruin you. Just keep moving forward.

Joe
http://www.StingyFinance.com
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Sputnik the Cat
November 23rd, 2006 at 8:00 am

“Tim” recently wrote:

“You are right, of course. Learning to touch type, and thus type faster than I can speak, warped me. Further, learning how to compose essays also made me incomprehensible to today’s readers.”

Oh, we understand you, Tim. It’s just that we think you’re an ass.

Meow!!!
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Big Cheese
November 23rd, 2006 at 8:04 am

Casey,

You should be thankful for the experience you are having- at the end it’s the experiences and relationships that are one of the most meaningful in life.

I am thankful for these things as well in my life.

-Big Cheese
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tbarta
November 23rd, 2006 at 8:08 am

Sounds almost like a giving up speech Have a wonderful Thanksgiving day.
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geno petro
November 23rd, 2006 at 8:08 am

hey Casey, in the big scheme of things, its a ’short ride.’ Real short. As long as one of your creditors isn’t the mob you’ll be cool by the time your 30.
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dcguy
November 23rd, 2006 at 8:24 am

I’ll second this.

My parents worked like animals when i was young.
Mom is 73 and still works 80% as a government file
clerk. (Crap job good bennies).

My parents beat on us to go to school, study hard,
convert brains and talent into skills and achievement.

My Dad was a natural at discounted cash flow analysis.
He could look at something, a taxi, a newsstand,
a grocer, a house, an office building, an airplane
and figure out “How much cash does this generate,
what’s it worth, and he’d offer 50%”. Surprisingly,
1:20 times someone would say yes. Then he’d have
to keep it and manage it, or quick sell it to someone
who liked that stuff.
To have learned that set of skill at a young age was
a great benefit.

I’m thankful both my parents were pretty healthy and
all things considered i got good genes.

I’m thankful they had the balls to emigrate to this country
so i didn’t have to grow up in a third world hell hole
or under communism, and instead i could grow up
in a great country.

I’m thankful i have a great woman in my life.

I’m thankful i had lousy supervisors in my past,
so i know what not to do.

I’m thankful i learned from my parents not to be
sucked into a lifestyle. Most of my clothes
are 10 years old. Excellent quality and i try not
to abuse them, so they still look good.

I’m thankful i learned from my teachers how to
assess quality and be willing to pay for value.

I’m thankful i have interesting colleagues

I’m thankful i have honest bankers.

I’m thankful i save a decent percentage of my income.

I’m thankful we have a great little companion animal.

I’m thankful i’m alive.
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hammawi
November 23rd, 2006 at 8:34 am

Hello,

Thank the lord for your foreclosures? Thats nuts!

You should thank the lord that you are not living in some hole in Russia right now.

You should thank the lord that you are not coming home in some body bag from Iraq right now.

You should thank the lord that your family hasnt kicked you to the curb and you are not homeless right now.

Pray to god that your buddy who hired you actually keeps you on through the end of the year, and actually pays you.

You should pray to god that your so called wife gets smart and gets a job.
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Free advice
November 23rd, 2006 at 8:35 am

I’m thankful that I’m NOT thankful for the stuff like grades, rent, stocks, metals, computers, suffering, jobs, etc.
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Fielding Mellish
November 23rd, 2006 at 8:41 am

To the Take Some Responsibilty Writer:
Yes, you made all the right moves and find comfort in yourself for that…..what will happen to you when disater strikes you…..what in your past experience will allow you to ride the storm….? What if you become ill? Can you prevent that from happening too because you ate all the right foods…. did what your doctors told you to do….time and unforeseen circumstance befall us all…ecclesiastes 9:12
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splatt
November 23rd, 2006 at 8:44 am

so how did the email thing go? you know, the one where you wanted investors and offered 24 % returns using your real estate expertease.

http://www.iwillteachyoutoberi.....ision.html
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Free advice
November 23rd, 2006 at 8:48 am

Casey:

Wow! This is a first for me. I’m actually going to “quote scripture.”

Well, I should clarify. In my view I’m actually only quoting a book, but I followed your links and thought that the passages that follow the ones you quoted seem appropriate:

James 1:9-11

The brother in humble circumstances ought to take pride in his high position. But the one who is rich should take pride in his low position, because he will pass away like a wild flower. For the sun rises with scorching heat and withers the plant; its blossom falls and its beauty is destroyed. In the same way, the rich man will fade away even while he goes about his business.

Philippians 4:11-12

I am not saying this because I am in need, for I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want.
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Scott
November 23rd, 2006 at 9:08 am

Casey, as I’m sure you know, Christianity teaches that God forgives if there is regret, repentance, and repair. From reading your blog, it sounds like you are on the right path for the three Rs. My only concern is that it sounds like you think RE investing is the way to go. There’s nothing wrong with it, per se, but if you do get back up on your feet in the future and do decide to take another stab at RE investing, I hope you will do it the Dave Ramsey way and pay cash for everything.

Everyone makes mistakes, what’s important is that we learn from them. Casey, I’d say you’ve learned the maxim, “The borrower is slave to the lender” [Proverbs 22:7]. The American way today, it seems, is to make riches quick and do it with Other People’s Money. But that is the wrong way. The right way is to find work you enjoy and are good at and benefits society in some fashion.
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Str Fry
November 23rd, 2006 at 9:17 am

Casey,

I think your openess is quite admirable. I don’t think I’d be able to handle such scathing comments on a daily basis. It makes me wonder how low some of the commenters’ self-esteems are to take such pleasure in verbally eviscerating someone who’s self-admittedly down. I think a lot of people will be saved from making similar mistakes in the real estate mania. It’s a shame blogs weren’t so mainstream during the opening days of the 2000 market crash.
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Fraud
November 23rd, 2006 at 9:32 am

Happy Thanksgiving all.

I am thankful that I have never money by means of Fraud.

I am thankful that I have never justfied Fraud.

I am thankful that I had not inflicted pain on dozens (hundreds) of others due to Fraud.

I am thankful that I choose the right road time and time again when faced with being able to committ FRAUD to better myself.

I am thankful that I took the hard road and not the easy road (FRAUD) when in despair.

I am thankful that I get to watch a person who committed FRAUD think he has done nothing wrong nor affected countless others :-)
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peeper
November 23rd, 2006 at 9:56 am

I’m glad you’re keeping the faith. But man, you really need to learn about simple faith and simple joys in life. As to the Dream Giver book, someone posted an Amazon review that spookily resembles your situation:

“Not all Big Dreams are to be followed relentlessly. Some dreams are misguided or even delusional. The author meant to say, I think, that certain dreams–dreams from God, dreams of service and ministry–are to be pursued. Dreams of winning the sweepstakes or becoming a world dictator–maybe not”

Seriously, Casey, you need to give up your RE dreams. I believe they are greed-inspired. Start living frugally, find joy in the simple things with your wife and God, and you’ll eventually discover, with delight, that the simple life is far more rewarding than the “success” that DT, RK, and a host of others preach.

Oh, yeah, and find a Celebrate Recovery group at church and hang out with the gambling group for a night. You deny that you have a problem, but please, just check it out and be open minded.
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t_h_e_inlaws
November 23rd, 2006 at 10:09 am

Casey, What time are you going to be over with your wife/our daughter for thanksgiving day dinner?

We hope you arrive by 2 because I cant wait to eat.

the inlaws

p.s. Get a job.
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thankful for
November 23rd, 2006 at 10:23 am

After much contemplation (about 10 minutes); I have thought about all that has happened to me in my 34 years.

All that life has thrown at me, all the mistakes, the blunders, the misteps, and all the catastrophe that I have left in my wake.

Also I have thought about all the mistakes I have not made, the right steps, the good choices, the preventative steps, the proactive choices.

and on top of all of this, one thought still rises above everything else..

I am most thankful I am not Casey Serin.

The funny thing is it is amazing how much this story has affected me since I have nothing but disdain and loathing and contempt and downright hating for Casey since he is a thief and a liar and yet still invokes the name of Jesus while still doing his own thing.

I equate him invoking the name of Jesus with some hollywood actor doing damage control after being found doped up, drunk, saying racial epitats…just basic damage control to continue to make money in their chosen profession.

The funny thing is that Casey’s story has made me take a very hard long look at myself and see if there were any resemblences.

Blew my f-ing mind, yes there is. No, not with real estate deals…I do my due dilligence and if it doesnt meet my formulas that I have created for myself I simply wont do the deals.

But in my personal spending habits I have been impulsive. I usually go out of my way to be frugal but I thought about when I bought my last truck even though I had a perfectly good truck that was fine. I used the rationality that I needed it because the kids were getting bigger and needed more room to justify the purchase in my head.

It was all bs, I wanted it for a status symbol….for people to scream at me and say look he has a huge friggin truck (oh and ladies, A huge penis too I might add….I’m single call me-lol) with 4 doors.

Whoopty doo….Now I am taking overtime whenever I can to pay off this truck and get rid of other debts that I have taken way too long to pay.

My long term plan was to do real estate deals on the side of my “Job” income. and when it came to retirement, the passive income that paid the mortgages on those properties could now be used to supplement my retirement, or just sell the properties buy an rv and because a snowbird (damn that would rock).

So Casey, thank you for being you so I dont have too.

happy thanksgiving.
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Bill Gordon
November 23rd, 2006 at 10:40 am

I have three questions for the readers of this blog:

Casey, Mr. Flipper, et al: Can you provide a “flipping for dummies” to help me understand the vocabulary here? From what I’ve pieced together, the “Bird Dogger” drives around and finds a distressed property, and tells the “Wholesaler” who sells the contract to the “Flipper” who improves it and sells it to a regular buyer? And they are often buying, selling, and assigning contracts, not the real property? How does that work? And there are “Investors” in the mix who don’t actually invest money? What does “Wholesale”/”Retail” mean in this context? (Buying wholesale and selling retail makes sense to me for lettuce and coats, but not houses.)

Tim, et al: approximately how much money is required to retire early? How did you decide one day to retire?

Investors: suppose one had $1 million in cash to invest in California real estate long-term. What would be a sensible thing to do?

“How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.”
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Dirk Diggler
November 23rd, 2006 at 10:51 am

I won’t bash on you today. Eat some turkey and forget about your problems for a day. Happy Thanksgiving!
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sean-sisb
November 23rd, 2006 at 10:52 am

If you change your cognitive schema that enables your gambling instincts you’ll be o.k.

If you do not, you will suffer until you do change.

This blog might serve as an outlet to “atone for your sins” but you will keep sinning by chasing waterfalls in your efforts to get rich as quickly as possible.

Take an hour or two today for self-reflection, Casey. Think about the reasons why you kept chasing those deals when your inner voice probably told you that you shouldn’t.

What kept you repeating the pattern of taking on these great risks? What led you to believe that each risk and assumption of more debt might get you out of your present situation?

What would have happened had you realized that after the second or third house, you were already over your head?

What led you to overestimate the value of the houses and not to anticipate the steady, morbid decline of the housing market?
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apm
November 23rd, 2006 at 11:28 am

Beyond all the things of this world — all the positive and negative comments on this blog, all the good things or bad things you’ve done — we all have a reason to be thankful (especially we Americans) and I’m glad you can find some solace in looking at things from an eternal perspective.
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Fred
November 23rd, 2006 at 11:30 am

Casey- everyone lives and learns. Had you done your business scheme two years ago, you would have been considered a genius like the day-traders of the 1990’s were. And now you don’t even hear about them, they all moved-on to the next gimmick. The lesson: you can never time any market. You may get lucky sometimes, but you can’t be lucky all the time. Always remember: truth creates money, lies repel it. Always be truthful and ethical in your future transactions, and money will come your way. On this Thanksgiving be thankful that these foreclosures are, in a way, a great leaning lesson, one that will serve you well. Always put people first, not things. Love your wife, your parents. Material things come and go but at the end of the day, family is all you have.
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Rancid
November 23rd, 2006 at 12:11 pm

Casey, just shut your damn piehole already…nobody really believes all your crap about learning to be a better person, how you are learning valuable lessons, how you want to pay back every dirty cent..just shut the hell up already. The only reason you are really still thankful is because you haven’t been prosecuted yet..so to you, it still is all just an illusion. that foreclosure you just had was a slap in the face…prepare to get slapped even more..with more foreclosures, fines, garnished wages for the next 10 years, some jail time, and the IRS crawling up your ass, pushing your head out of the way, and demanding money.

Knowing your dumb ass, you probably bought a turkey with a credit card, or swindled it from some poor old lady. “Give me this turkey, and next week I’ll give you back two!”
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Voice of Reason
November 23rd, 2006 at 1:51 pm

“Thank My Maker, The Dream Giver, for providing supernatural peace … ”

Maybe you can get your church to donate a house to you so you can flip it:

http://hmtk.com/blog/index.php.....hurch.html

Believing in, and resorting to the supernatural is one of your fundamental problems, Casey. Just as is believing in the gods of good fortune and get-rich-quick schemes, and that the killer sweet deal is just around the corner.

Get some education - some real, legitimate education. Go to college and learn something. There are no short cuts to success in life and there are no free lunches. Anyone who claims to have it and wants to sell it is a swindler, a shyster, a scammer, a con artist, or a snake oil salesman.

Go read up on some of the history of economics and finance in this country in the last 100 years. Learn how the general population tends to have the attention span of a gerbil and the memory of a gold fish when it comes to economic cycles, social and political trends, and just about everything else.

There is no substitute for knowledge. If you want real peace of mind, educate yourself. If you just want to num your mind then read fairy tales, or get some moonshine.
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casey_fanboy
November 23rd, 2006 at 2:08 pm

Casey:

I actually worked for WFB some time ago and am very familiar with the BLN (Business Line) and BMC (Business Master Card) that you owe money on. I also drove by your modesto house recently.

Net net net: you are in SOOO much trouble. First, WFB is known in the industry to be very very tough on people who owe it money. That is why WFB has such a very low chargeoff rate - people go to B of A if they want to default, not WFB. While not my area, I did know the collections and FRAUD teams within Business Banking. Think ex-FBI agents and very very tough. The 30K + you owe them will/is going to piss them off, particular when they start reading this inane site. Yes, they are going to take your FRAUD very very personally.

RE your modesto dump, i drove by it recently. I like the nice features of the area: a pit bull running free a block away, 3 for sale signs in the area, guys working on their cars. … Great. Worth 125K (if that) tops.

My advice. Stop this stupid blog. You are NOT NOT NOT doing your cause any good. You are just pissing off the real people (lawyers, FBI agents, etc) at the big tough institutions you ripped off. Jesus or God or the bible won’t help you when they serve you papers for your crimes.
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reader response
November 23rd, 2006 at 2:15 pm

In response to bill gordons questions…my answers are in all caps:

tim gordon wrote:
I have three questions for the readers of this blog:

Casey, Mr. Flipper, et al: Can you provide a “flipping for dummies” to help me understand the vocabulary here?

From what I’ve pieced together, the “Bird Dogger” drives around and finds a distressed property

YES THAT IS WHAT A BIRD DOGGER DOES: BASICALLY A BIRD DOGGER IS SOMEONE THAT FINDS DEALS AND THEN MARKETS THEM TO WHAT PEOPLE BUY.

IE A RUN DOWN VACANT COMMERCIAL BUILDING WITH OUT OF TOWN OWNERS

, and tells the “Wholesaler” who sells the contract to the “Flipper” who improves it and sells it to a regular buyer?

YES. A WHOLESALER CAN BE THE MIDDLEMAN…BUT MOST OF THE TIME THIS DOESNT HAPPEN…TOO MANY MIDDLE MEN AND THERE IS TOO MANY COOKS IN THE KITCHEN.
GENERALLY THE BIRDDOGGER DEALS DIRECTLY WITH THE FLIPPER WHO THEN FIXES UP THE PROPERTY AND SELLS IT TO THE END BUYER.

And they are often buying, selling, and assigning contracts, not the real property?

THIS WORKS BY GETTING THE PROPERTY UNDER CONTRACT. IT STOPS THE SELLER FROM SELLING IT TO SOMEONE ELSE. THERE ARE ESCAPE CLAUSES FOR THE BIRDDOGGER TO GET OUT IN CASE HE CANT FIND A FLIPPER FOR THE PROPERTY. ALSO THERE ARE CLAUSES THAT ALLOW FOR THE SALE OR THE ASSIGNMENT OF THE CONTRACT.

How does that work? And there are “Investors” in the mix who don’t actually invest money?

TONS OF THEM. WHEN YOU SEE THE “I BUY HOUSES” OR “WE BUY HOUSES-NO EQUITY NO PROBLEM’S”. IT IS 99.9% OF THE TIME SOMEONE THAT IS LOOKING TO WRAP UP THE HOUSE IN A CONTRACT AND MAKE A FAST BUCK.
WITH THE ESCAPE CLAUSES IN THE CONTRACT THEY CAN GET OUT OF THE DEAL WITH NO MONEY OUT OF THEIR POCKET. THEIR ENTIRE PREMISE IS TO WRAP THE HOUSE UP IN A CONTRACT ALREADY NEGOTIATED AND THEN SELL THE CONTRACT TO SOMEONE ELSE. HENCE WHY THEY GET SO MUCH FOR THE CONTRACT.

What does “Wholesale”/”Retail” mean in this context? (Buying wholesale and selling retail makes sense to me for lettuce and coats, but not houses.)

WHOLESALE MEANS YOU DISCOUNT FROM THE RETAIL (WHAT SOMEONE WITH CONVENTIONAL LENDING WILL BUY THE HOUSE FOR–ALSO KNOWN AS ACTUAL VALUE)….WHOLESALING IS JUST DROPPING THE PRICE FOR A QUICK SALE. WHEN YOU FLIP TO AN INVESTOR (GET THE PROPERTY UNDER CONTRACT AND THEN SELL THE CONTRACT), YOU BUY AT THE RIGHT PRICE SAY 50% OF MARKET VALUE AND YOU SELL FOR 60%…..YOU HAVE TO LEAVE ENOUGH MONEY BETWEEN WHO YOU FLIP TO AND THEIR SALES PRICE TO GET THEM INTERESTED.

Investors: suppose one had $1 million in cash to invest in California real estate long-term. What would be a sensible thing to do?

NOT GET INVOLVED WITH ANYTHING DISCUSSED ON THIS BLOG…..IF YOU WANT LONG TERM..YOU GO WITH A REIT (REAL ESTATE INVESTMENT TRUST)….ALLOT MORE STABLE AND NOT BUILT ON A HOUSE OF CARDS LIKE CASEY OR PEOPLE LIKE HIM HAVE THEIR EMPIRE’S BUILT ON

“How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.”

MAKES ME THINK IF CASEY GETS A BOOK DEAL OUT OF THIS

RANDOM HOUSE “MR. SERIN, PLEASE REFUND ALL OF YOUR ADVANCE MONEY OR HEAR FROM OUR ATTORNEYS”

CASEY: BUT I DID COMPLETE THE BOOK AND SENT IT ALL TO YOU

RANDOM HOUSE: YOU CALL THIS A BOOK….ITS ONLY 2 CHAPTERS.

CASEY: YES

RANDOM HOUSE: A BOOK WITH ONLY CHAPTER 7 AND CHAPTER 11 IN IT IS TECHNICALLY NOT A BOOK.
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Me
November 23rd, 2006 at 2:27 pm

95%+ of these readers don’t know who Tim May.

Unfortunately, I remember him from fifteen years ago. :)

Weep for me.
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Richard
November 23rd, 2006 at 2:31 pm

The last post I wrote didn’t get approved. Hopefully this one will.

This is a message to Tim. Tim, you say you haven’t worked for the last 20 years. You say you made money by working a normal job at a company where the stock happened to rocket.

And yet you want to give people lots of advice. What experience do you have that warrants you giving advice to anyone about anything?

You got lucky. There is nothing else to it. You didn’t start a company. You basically haven’t done anything in life. You are no different from a lottery winner.

The only thing you are an expert on is “how to not do anything for 20 years” and “how to apply for a job at Intel”.

That’s it. You giving someone investing advice is like asking Paris Hilton what to do with a leaking head gasket on a ‘57 Chevy.

She has more money than you do and also doesn’t do anything. But I’m guessing she would be brighter than you in that she wouldn’t think she was smart enough about financial matters to try and give others financial advice.
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BubbamademewhatIam
November 23rd, 2006 at 2:34 pm

Yes, damn your Macaroni Grille and Starbucks lifestyle.
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Clippership
November 23rd, 2006 at 2:52 pm

I think the main thing I’ve learned from reading this blog is just how savagely mean-spirited people can be. It surprises me that even on Thanksgiving people feel the need to keep heaping on unkind comments.

I’m thankful that I can still feel compassion for my fellow man, regardless of his errors.
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DrifterBee
November 23rd, 2006 at 3:12 pm

What about all those passages about atoning for sin?
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HungryBear
November 23rd, 2006 at 3:15 pm

“Investors: suppose one had $1 million in cash to invest in California real estate long-term. What would be a sensible thing to do?”

Treasury Bills. Wait until the bottom of the cycle then buy.
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speechless
November 23rd, 2006 at 3:39 pm

Casey, I still feel sorry for you. I do wish you a Happy Thanksgiving.

At the same time, I do want to see you dig yourself out of this mess. Make some kind of a decision, for example to file for bankruptcy. Decisions are good. Try them. Once made, they allow us to move forward.

I would happily cheer for you to get bailed out if you were someone who had poured his hard earned life savings into his own home, then lost his job out of no fault of his own, or couldn’t work because he was struck down by illness or an accident. But wait — you are young, healthy, and in a completely self-inflicted mess. For your own character development, I sincerely hope that nobody bails you out of this but you.

And I am not clicking on any of your sponsor ads, because they look like more of the same crap to me: flipping firms and foreclosure firms looking to take advantage of inexperienced, greedy, impulsive people like you, and unfortunate people who through no fault of their own can’t keep their homes.
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Macaroni Waiter
November 23rd, 2006 at 4:21 pm

“But the rest of us are left with the consequences of your Macaroni Grille and Starbucks lifestyle.”

Hey, bug off!

It’s not like Casey’s burning money in his fireplace. How do you think we pay our bills? Do you want us defaulting on our loans?

Oh, and I know Casey’s barista at Starbucks. He wants you to bug off, too.
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Wealthyboomer
November 23rd, 2006 at 5:50 pm

Hey Casey,

Head to Alberta (Canada). Do it NOW! There are TONS of jobs in every type of industry. There are more jobs than people. Some employers have gone to Mexico to get hire people. Even the Police Force is heading to China to look for Recruits.

Plus you can continue your Real Estate ideas there, because the market is still booming, unlike the USA. And there are Assumable mortgages without Qualification in Alberta.
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Mr. Flipper
November 23rd, 2006 at 6:03 pm

Bill Gordon,

Reader Response gave an excellent answer. but I’ll give it another stab (and perhaps repeat what he wrote):

Your questions in “quotes”. My answers w/o quotes.

“Casey, Mr. Flipper, et al: Can you provide a “flipping for dummies” to help me understand the vocabulary here?”

Yes, you can find several descriptions and references by me already throughout this blog.

“From what I’ve pieced together, the “Bird Dogger” drives around and finds a distressed property, and tells the “Wholesaler” who sells the contract to the “Flipper” who improves it and sells it to a regular buyer?”

Yes, but the “flipper” may only do “marginal” improvements and sell to either another investor or retail/end-user buyer.

“And they are often buying, selling, and assigning contracts, not the real property?”

Yes.

“How does that work?”

Search for “Mr. Flipper” entries throughout this blog for answers.

“And there are “Investors” in the mix who don’t actually invest money?”

No, otherwise they are simply “bird dogging” — OR they got a really good financing deal… but that’s another topic.

“What does “Wholesale”/”Retail” mean in this context?”

Wholesale purchases and sales can be roughly defined as anything sold for at least 40% off of ARV (after repaired value).

Retail purchases and sales can be roughly defined as anything sold within 15% of ARV.
———————–

To “Reader Response”,

Really good input, and much more articulate than what I’ve offered!
———————-

I hope that helps you Bill.
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Sean
November 23rd, 2006 at 6:22 pm

jeez. Casey is now another ‘blessed investor’ who finds peace in the lord when things f&ck up on him. or he is being blessed by the lord when things are going well, if they ever do. Never mind that all these ‘blessed investors’ are basically exploiting other people in 100 different ways to get ahead, not to mention the heresy of the new ‘prosperity doctrine’ – Jesus obviously came back some time in the last 200 years and yea verily delivered a new book and a new covenant exclusively unto the Amerikan people that says the only thing that matters is getting ahead by any means, stepping on the poor, and screwing the planet over for resources while you’re at it… the individualistic lord of the individualistic culture of the self-obssessed — who says we didn’t make God in man’s image? We update him regularly as circumstances change…
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Vague Guru
November 23rd, 2006 at 6:26 pm

Casey, I find it incredibly disturbing that someone like you, with no morals and no ethics, would quote scripture in order to try and gain sympathy.

You sir are no Christian.

You lied on your loan applications.

You lied to the Phoenix ladies, signed a contract with them, and shortly thereafter reneged on your commitment and went back on your word. You also told your wife you would consult her before signing anything, and lied to her.

You lied to the East Coast mentor who also offered to help you.

And you lied to all your friends and family when you emailed them the “24% guaranteed return” investment scam.

And those are only the lies that we know about, I’m sure there are many, many others.

Spare us the spiritual mumbo jumbo Casey.

Have some respect for people who actually are Christian, and actually walk the walk, not just talk the talk, like you do.
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Rancid
November 23rd, 2006 at 6:40 pm

Clippership
“I think the main thing I’ve learned from reading this blog is just how savagely mean-spirited people can be. It surprises me that even on Thanksgiving people feel the need to keep heaping on unkind comments.”

Hey break out the world’s smallest violin already. The reason some of us are so mean spirited, is that we are trying to teach Casey what is wrong and right…kind of like what you do with a dog..when he does something bad, you punish him until he learns that that kind of behavior is undesirable. Now I don’t think Casey is smarter than a dog..but instead of enabling his behavior with cries of rah rah rah..keep going Casey, everything is alright, don’t worry be happy…we slap him a few times with “mean spirited” comments. Believe me, Casey being called names is nothing compared to what will happen to him down the road when he really screws over the wrong people. When he’s getting his kneecaps busted he’ll be saying “Gee, being called a loser was MUCH better than this”. We the mean spirited are trying to prevent that from happening..you “gracious” kind hearted people are leading him down that path because he keeps on doing what he is doing thanks to the encouragement from his cheering fans. Who in the end is REALLY hurting him eh?
Of course if Casey swindled YOU out of a thousand bucks you’d change your tune pretty quick wouldn’t you? But go ahead and donate $1000 to his tip jar so you can go to bed tonight feeling all charitable and warm.
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BitterRentard
November 23rd, 2006 at 7:43 pm

All of Caseys sins will be forgiven! Therefore, why not put those houses to use by renting the rooms by the hour. Pimp your way out of this mess Casey. Go down to Del Paso Blvd and get yourself some ‘employees’ who will get free room and board at one of your fine establishments. Just turn up the bass on that rippin stereo as you roll down the Blvd and they’ll flock to you. Nothing ventured nothing gained. Leverage those ass…ets.
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reader response
November 23rd, 2006 at 8:06 pm

casey…I checked out the website that someone posted www.creonline.com

You should go there and post your problem..and in the future post all your potential deals…i am seeing people posting..I found this house..here is the numbers blah blah blah ..and getting seasoned investors breaking it all apart for them for free and giving them advice how to proceed or not to proceed.
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UncleC
November 23rd, 2006 at 8:34 pm

I’m thanking Casey for this site. It’s been highly educational about a whole (hidden) side of RE that I never knew about. It’s also been amusing, dramatic and fascinating. Even pathetic trolls like Tim add to the spice!

So keep up the good work Casey and happy Thanksgiving!
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Wealthyboomer
November 23rd, 2006 at 8:51 pm

Richard said: “And yet you want to give people lots of advice. What experience do you have that warrants you giving advice to anyone about anything?”

That is how many of the finanical gurus are doing. They have little to no experience about much of anything. They are ’showmen’.

Rich Dad Poor Dad is nothing but a collection of cliches about money. Old cliches. Cliches that have been around since way before Kiyosaki claims “rich dad” originated them. The reader further said that Kiyosaki then appears to have simply made up a bunch of accompanying phony stories to fill the cliche collection out to the length of a book. She may be right. For example, Kiyosaki’s fear-and-greed advice is an age-old Wall Street cliche about securities prices.

Note that Kiyosaki talks like an expert on this stuff, but he doesn’t actually do it. He makes most of his money from his books, seminars, and multi-level marketing (Amway and Quikstar).

The key to success is in the details, and he doesn’t give ‘em.

Kiyosaki now has the words “Although based on a true story, certain events in this book have been fictionalized for educational content and impact,” in the fine print on the copyright page of Rich Kid Poor Kid.
http://www.johntreed.com/Kiyosaki.html

20/20 investigation of Kiyosaki
Basically, they gave three people $1,000 each and told them to try to start a business that would show a profit within 20 days. One lost all he money. Another made zero. The third made $243.
Kiyosaki was brought in to coach them and to advise them during the 20 days. Based on the article, it sounds like about all he did was whine about the three would-be entrepreneurs, the short time frame, and so forth. He also pronounced their failures a success—typical Kiyosaki logic—because they learned from them. The ABC 20/20 story ends with,
“Which begs the question: Does anyone really need 18 books to learn to fail?”
What business has Kiyosaki ever made a profit in? With regard to his 26 million books, he is not a businessman. He is only an author. The businessmen generating those sales and profits are his publishers.
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I heart you casey
November 23rd, 2006 at 9:29 pm

Casey…

Quite the pickle you have gotten into….

get yourself out of it and get more info so you can do more due dilligence.

The way to own properties is subject 2….so much easier, cleaner and wont f your credit like this mess your in now…much more profitable too.

look at www.sub2deals.com ..but dont buy any stuff….the guy that runs that website has acquired over 100 properties with not 1 of those houses appearing on his credit..

and remember dear boy…..dont blow the money on frivolous crap…..use at least half of those down payments and put into reserve accounts for emergencies.

if it doesnt cash flow each month ..then dont touch the damn thing.

become the bank and make that house cashflow.

You can birddog to wholesalers pretty easily to get some quick cash to get out of the situation your in…in fact that is going to be your quickest way out of where your at.

Run an ad in the local paper saying “are you a rehabber, investor that buys houses, call me at 444-444-4444″

make a list of the people that are ready willing and able to pay cash or can get financing NOW…that can close in 7 days and maintain a file in detail of what they want…IE commercial rehabbers, multiplex owners, sfh rehabbers, etc. etc.

This way you can go out and drive around..find a house empty, a duplex empty..anything…..get a title search on it…..contact the owners….if they live close by send then visit them at their home “Hi, my name is casey serin, I noticed that duplex you have over on main street that is vacant with trash outside and overgrown grass”. would you be interested in selling that?”

Get that baby under contract with the clause of assigning on it…then market it to the rehabbers/wholesalers that buy that type of property.

a beautiful part of having a list of who buys what and their ability and threshhold for the price of the home they are willing to pay is GOLD.

Let them know that you wont be having them do a bidding war too….when you find a property..you will send out an email to all of the rehabbers that may buy it…you want x amount of dollars out of the deal..so if you get a house under contract for 40k, and you want 5k on it…..and it will sell for 100k after rehab..that leaves enough profit for them to rehab and put their holding costs in and make 15k at the sale..then everyone is happy…the first one that come closest to your terms gets it.

There is going to be no huge slam dunk deals to get you out of this hole casey…you are going to have to do allot of small deals and do them quickly…this is going to burn up most of your day….so keep the blogging to a couple hours in the evening. you must get out there and do this starting tomorrow……run the ad……and if it doesnt run until next week ..that is FINE…

get your ass out there tomorrow and start tracking these properties down…

other ways to find these properties…..call a title company…tell them you want a listing of all the properties in some zip codes and a list of all of the out of state owners for that zipcode. then get on the phone and cold call or send them postcards….postcards are a longterm strategy..I would call them…best to go drive by the house to see if it is vacant..even more better.

Now casey..just for you I am going to give up one of my trade secrets of how I find these houses quick quick quick quick quick quick.

well everyone else will see it too.

When your mailman gets there tomorrow..talk with him..hopefully you already know him…….strike up some banter…(its best to get a repore going with him/her over a period of time before you approach this)…but your desperate right now ..so your salesman skills are going to be put to the test.

They know where the vacant houses are….They have to return any mail for a house that is vacant…they have a special section in the post office that all the vacant mail goes too where it is returned to the sender.

OMG….can you imagine..all of these people out there advertising, pounding the pavement to find these vacant houses…when there are people that go to these vacant houses every damn day. And not only do they go to them…they are the first to know when a house goes vacant…..even before the neighbors do in allot of the cases…

someone running from foreclosure, someone doing the midnight move….can you imagine when you call an owner and say..the house on x street is vacant…are you interested in selling it…and they dont know their renters bailed on them….OMG you can make boatloads of money off of this casey.

offer the mailman a birddog fee for any deals you close..but be careful…offering money for deals in many states you have to be a licensed broker..and it could get the mailman in trouble at work. that is why you create a relationship with them and keep it all under the table.

follow through with your birddog fees ..cash in hand..no IOU’s ..no pay you after the next deal..no take payments month to month…after you close….pay them…and watch them recruit their friends that carry mail along into the deal…now you are starting to cover the whole city..in a few years..you will have entire sections of a city covered to notify you of a vacant house without having to leave your house.
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I heart you casey
November 23rd, 2006 at 9:42 pm

Oh..I forgot casey.

You can also do small deals with less than 5k in cash also.

Manufactured homes….contact the dealers/manufacturers in your area…they have repo’s (allot of them)…allot easier to repo a manufactured home since it is personal property and has a title like a car than it is with stick built homes.

You can get these for a song and a prayer…I have picked up a couple from the manufacturers where they were a hundred and fifty miles from the manufacturer..they didnt have the time nor care for something that far away.

bought one of them for 3k cash…it was brand new..they placed it in a new lot in the middle of nowhere and noone ever bought it.

hard to find lenders for subprime borrowers for a manufactured home that they want 15k for.

SO I bought it…advertised Owner financing ..own your own home..no banks…..Brand new manufactured home, 12k…..4,000 down at 6% financing…Yes 6 percent financing..that is lower than people pay for conventional loans.

You should see the people that came out of the woodwork….
I wound up settling on someone with 6k down and financing the rest……..

made 3000 dollars in less than 7 days…and still had monthly income coming in ( I call icing on the cake) for the next 36 months. if they default….I dont give two sheets about it..I already got my money.

Another deal I did..bought a brand new manufactured home for 8k contingent that I find a buyer. Already had a buyer for it..just didnt want them to know since they would balk at whatever I offered and want more. I maintain lists of buyers from every property I sell and what they are looking for and I notify them as soon as I get something (via email group) so I can move it quickly.

SO I already had a buyer knowing they would pay 20k with 10k down…….offer was accepted and I had the place sold within 2 hours with ZERO dollars out of my pocket.

Well after 2 years they defaulted on their payments…so I just gave the place to them…didnt care…I made my money out of it at the start. They were so grateful that when it came time for their brother to sell his house because of a divorce that he came to me since I helped them with my kindness (I used sub2 on that one and when all is said and done and get cashed out will have made about 40k on that deal not counting the 200 per month it cashflows for me)

Now if you do the manufactured homes..there are limits…..when you get around 4 or 5 of them per year you draw the attention of the IRS……they will require you to get a dealers license to move them.

But you can do 3 or 4 of them rather quickly right now to get some cash to move onto stick built homes.
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Free Advice
November 23rd, 2006 at 10:20 pm

This is intriguing:

Casey, I find it incredibly disturbing that someone like you, with no morals and no ethics, would quote scripture in order to try and gain sympathy.

You sir are no Christian.

Because I’m not a member of the Christian Club, my perspective may be a bit warped, but any time someone’s tried to “covert me” or “show me The Way,” it’s always based around the idea that I’ve either sinned (or born a sinner) and the only way to redeem myself is to “through Christ.”

Now I come to find out that the only people who are eligible to be Christian are those who DON’T sin. I guess churches are like banks who lend at prime rate — you don’t get the money unless you can prove you don’t need it.

Not that I cared that much to begin with, but now I’m REALLY glad I’m not a Christian. Turns out all that praying crap is pointless and wouldn’t do me a damned bit of good.
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Free Advice
November 23rd, 2006 at 10:26 pm

Rancid:

You’re a dickhead.

(I’m doing this for you — in order not to “enable” you. Believe me, when someone’s trying to bust your kneecaps, you’re going to think, “being called a dickhead was MUCH better than this!”)
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Big Cheese
November 23rd, 2006 at 11:27 pm

I have an idea for all the lurkers out there- Casey Bingo! The idea would be to read the comments after Nov 24th looking for the following words listed below. The first 5 BINGO winners would get a miniature anatomically correct Casey Serin doll sitting on a blue ball. The doll would have a string in the back that, when pulled, would say one of the below phrases at random. Enjoy!

Jamba Juice IRS Rich Dad FICO My maker

Jail time RK Uzbekistan Cash Back Bird dogging

Flipping Bubba FORECLOSURE DIL Overdraft

Paypal BK Sweet deal Blue ball wrap around

Macaroni Jetta Jump the shark No money Starbucks
Grill Down

Copyright Big Cheese.
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Take Some Responsibilty
November 24th, 2006 at 12:00 am

@Macaroni Waiter
It’s idiotic waiters, hairdressers and shoe-shine boys who think they are qualified to be “in the game” of real estate investing. I know your post is a joke, but it is sad that the credit bubble has “qualified” these people to buy not just one but several properties. When I say buy, I should say temporarily* rent…

*Until forclosure time, a la Casey Serin.
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Rancid
November 24th, 2006 at 12:03 am

Hey free advice thanks for the comment, it’s worth as much to me as the cost. Lol, a “dickhead?” That’s the best you could do? Well …well..you’re a dooodiehead!!!!

Man, I’m so torn up inside now I may have to leave this blog forever..how will I ever be able to post again after your witty comment has struck me down where I stand?
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Casey Serin
November 24th, 2006 at 12:22 am

Surprising amount and quality of comments today… I was trying to approve them on my PDA throughout the day while enjoying some turkey and hanging out with the in-laws’ side of the family. Hope everyone had a good thanksgiving. Thanks for all your feedback. I will try to answer some of the questions with future posts and/or video in the near future.
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yneone
November 24th, 2006 at 12:49 am

Happy Thanksgiving One & All,

Oh all of you who sit in judgement…for-shame. Casey made a monumental mistake; we all know that. Why must you continue to berate and hate him so? The guy is putting his heart and soul “out there” admitting his mistakes and repenting to God. If God has already forgiven him, why not the common man? Casey, I dont know how you do it…come to this blog and take this madness from such miserable people. Please don’t let these fools drive you to an early grave. Continue to pray and seek Him. As always, I wish you well.
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Clippership
November 24th, 2006 at 12:50 am

Rancid -

Well, thank goodness superior beings like your self are around to provide the rest of us the benefit of your “tough love” instructional approach.

Yes, if Casey had swindled me, I’d be upset. But he hasn’t swindled me, so I have no reason to bear him any ill will. Especially since I realize that I too belong to the Loyal Brotherhood of Screw-ups. The difference is that I don’t have the guts to sit down and describe, day after day, in intricate detail and for the whole world to see, how screwed up I am - and then to allow perfect strangers to crap on me for those mistakes. And most likely neither do you.

Maybe things will get better for Casey, and maybe they’ll get worse. Maybe he’ll make better decisions or maybe he’ll make poorer ones - I don’t know. But it’s not my position to judge and certainly not my position to advocate punishment.
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yneone
November 24th, 2006 at 1:10 am

I heart you casey, my husband and I own a home in Van Nuys California. Around the corner from us (on Firmament Avenue), is a home like you described. An old abandoned home in the worst possible condition. My best judgement is that the home was built in the 1970 or 80’s. My husband has lived in our home 20 years, and the abandoned house has been empty for atleast 10 years. I often wonder why no one has fixed-up this home. What would cause a home to just sit this way? Why hasnt the home been sold? Homes in our area typically sell for $500K-$600K. Seems like such a waste.
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SidFinster
November 24th, 2006 at 2:55 am

Sean: You are right. The “prosperity gospel” that Casey appears to be spouting is one of the biggest and most asinine heresies to come by in a while.

Sad, because Casey probably was born (at least nominally) Orthodox, and say what you want, the Orthodox Church has more sense than to teach “name it claim it” nonsense.
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Chris
November 24th, 2006 at 4:33 am

Did you never understand the error of your ways. People like you, single handedly taking mass bunch of properties off the market so you can try to profit from it. Houses are a place to live, not a place to speculate to make money, and thanks to the likes of you, house prices have rocketed and forced people to take out higher and higher mortages. Now they will be caught up in the bust aswell.

You will have a lot to answer for when you meet your maker.
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Take Some Responsibilty
November 24th, 2006 at 6:04 am

@Yneone - Great bird-dogging skills! Perhaps you and Casey should go into business? Uh… That’s right. He’s really not so good at real estate.

@Clippership - fools like Casey swindle EVERYONE. Their poor judgment and lack of responsibility raise the cost of housing, credit, and eventually public services for all of us. Think macro, bright boy.
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BFFChucky
November 24th, 2006 at 7:04 am

Clippership,

Read more of this blog and learn that Casey isn’t so much a screw-up as he is a bad wannabe con-man. Viva la difference!
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G. Barney
November 24th, 2006 at 8:36 am

I’ve been coming to your site for some time now and have kept silent until now. Some of the comments that people have left for you are simply horrible and those people obviously have nothing themselves and are miserable people - do your best to ignore them because what they say is meaningless.

You got into this situation because you are young and because, quite simply, the banks let you get into this situation. Experience teaches you (and a bit of common sense) that just because something is being offered to you, it isn’t necessarily in your best interest to take it. I find it unbelievable some of these loans I’ve been reading about and how gullible some people seem to be.

Back in ‘96 I wanted to move back into Manhattan (where I was originally born and spent part of my childhood before moving to Greenwich, CT) and realized that rents were simply too high. I decided I wanted to buy but I also sensed (don’t ask me how) that the market was on the brink of change and that if I was going to buy, I better do it soon. I had no savings at the time and had declared bankruptcy three years prior. I decided I was going to pay cash for a place and gave myself a year to save the money up.

I work as a secretary for a law firm in Manhattan and was, therefore, able to work overtime. I worked almost 70 hour weeks for almost a year. Toward the end of that year I started looking around for places to buy and eventually bought a one bedroom coop in Brooklyn Heights (a very nice section of Brooklyn) for $63,000 with all cash (my father gave me $10,000). Two years later I sold the place for $129,000. I then bought a two bedroom condo in Westchester, NY for $175,000 with again all cash (I had continued to save my money). I invested $60,000 renovating the condo. Three years after that (July of 2003) I sold the place for $339,000 and bought a four bedroom home in Greenwich, Ct for $622,000 (it needed some work, and I have been slowly making renovations) putting $300,000 down.. My home is now worth at least $900,000, even with the current decline in home prices. I have over $300k in my 401k, $25,000 in 529 plans for my two children and $15,000 in savings. My mortgage is currently $306,000 and I owe $15,000 on an equity account from the renovations (I’ve spent approximately $70,000 since purchasing the home). What got me to where I am today is hard work. Considering that my base salary is only $78,000, I think I’ve done pretty well for myself. I set my mind on owning my own home and I made it happen through hard work.

I’ve told you my own story to help you realize that most wealth takes time and persistence (I don’t consider myself wealthy AT ALL, but I think I’m doing pretty good). I didn’t get to where I am overnight - I set a goal and did what I had to do to make it happen. Declaring bankruptcy isn’t something I was ever proud of - I was extremely embarrassed and ashamed of myself but I lived through it. I think you should consult an attorney and do whatever you have to do to get out of the mess you are in as easily as possible and then go on with your life. You are partly to blame but, in my opinion, the banks are mostly at fault. You can overcome bankruptcy, but it will take time. In the meantime, work hard and use what’s happened to you as a life lesson. I wish you nothing but the best and I’m sure five years from now your life will be on track.
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Mort
November 24th, 2006 at 8:56 am

The first 5 BINGO winners would get a miniature anatomically correct Casey Serin doll sitting on a blue ball. The doll would have a string in the back that, when pulled, would say one of the below phrases at random. Enjoy!

Damn you big cheese, now I want one of those Casey Serin dolls to sit next to my st. joseph statuette. It has to say those things you wrote too. Ooh, I want one!
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Free Advice
November 24th, 2006 at 1:27 pm

Did you never understand the error of your ways. People like you, single handedly taking mass bunch of properties off the market so you can try to profit from it. Houses are a place to live, not a place to speculate to make money, and thanks to the likes of you, house prices have rocketed and forced people to take out higher and higher mortages. Now they will be caught up in the bust aswell.

Chris, as far as I know, nobody’s been “forced” to take out a higher and higher mortgage. If they did, they made an error. Do they not understand the error of their ways?
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Free Advice
November 24th, 2006 at 1:56 pm

fools like Casey swindle EVERYONE. Their poor judgment and lack of responsibility raise the cost of housing, credit, and eventually public services for all of us. Think macro, bright boy.

Take Some Responsibility:

Okay, I’ll think macro. The cost of housing is about where it should be based on the number of people who want houses and the number of people who want to sell them. And next year, it will be where it should be at that time. Same for credit. Public services? That’s more of a governmental policy decision.

You can disagree on my brief macroeconomic analysis if you want to and I’ll respect that.

But it’s asinine to place macroeconomic blame on one microeconomic person.
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Reckoning
November 24th, 2006 at 3:06 pm

Clippership, now I see your problem,…

“The difference is that I don’t have the guts to sit down and describe, day after day, in intricate detail and for the whole world to see, how screwed up I am”

Granted even I admit to having screwed up in my life, though by no means as big as Sir Casey here, but what you don’t seem to understand is, it doesn’t take Casey guts to admit to all his mistakes(he doesn’t do it because he is sorry, he does it for attention, kind of like all the hollywood types that have their sob stories about alcohol and drug abuse and how they blew thru all their money..but they are MUCH better now). What would take guts is if he really tried to make amends for his past, and actually go out and get a real go nowhere job to support himself and his wife, as well as actually pay back his lenders instead of making them short sale for a loss. It takes guts for the everyday man to go to work hating it , take crap from their idiot boss, but knowing that he needs the security to put food on the table for his family. This casey has no guts. He isn’t embarassed about what he has done, he doesn’t feel sorry for it, and even his own wife is starting to realize that Casey will do anything for attention (like putting up the bank statements, this is the kind of guy that takes a crap and wants everyone to look at it and clap for him) So that is why we differ, you think he is being brave by this blog, I feel he is being cowardly and not being a real man and supporting his wife, or paying back what he owes…mark my words, this scum will declare bankruptcy and soon. In the beginning he claimed he wanted to pay pack every dirty penny and that bankruptcy was NOT an option, but look at his more recent remarks..now he is broaching the subject of bankruptcy. He also makes it seem like he is doing the lenders favors by short sales, yeah right.
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Mr. Flipper
November 24th, 2006 at 4:52 pm

“Free Advice” wrote:

“But it’s asinine to place macroeconomic blame on one microeconomic person”.

—————–
Unfortunately, that’s a repetitive line of thinking on this blog; that somehow Casey is personally causing all the problems with rising/falling housing prices, interest rates, and any other thing that in reality Casey can have no statistical impact on.

But Casey makes himself an easy hook for anonymous bloggers to bite on, all while making these “asinine” extrapolations(sp?).
—————–

Meanwhile, Casey’s scripture quotes were a surprise, yet indirect, reminder to me that real persuasion hardly comes at the end of an unkind remark. Being guilty of indulging in that on this blog myself, I have decided to curb future remarks to solutions, rather than creatively insulting those I see making erroneous extrapolations, etc.

If we notice, Casey refuses to “take on” any of these ridiculously hateful blog entries. We’ve not read one mean, negative, or innappropriate word. And some of these low-brow contributors deserve a verbal spanking I suppose!

I’ll take Casey’s approach as a cue for myself in the future.
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Jefferson B.
November 24th, 2006 at 10:04 pm

Casey,
Someone above suggested you try to get back into the real estate game by using the ’subject to the existing financing’ method.

The thing is, when you buy this way the SELLERS name remains on the loan.
Since you cannot manage to keep loans current in your own name, PLEASE, do not attempt to use this method.

There are ways to make money in real estate, without using your own money, or credit.
They ALL have risk.
You need to utilize a method that does not have the possibility of causing you, or anyone else pain, financially or emotionally.

The best place to begin, (what you have already done is not investing, its speculating), is to wholesale deals, or bird dog.
AS A PART TIMER……..AFTER you have found a way to…… a.) trim your spending to NOTHING other than NEEDED items (shelter, food) and b. lived for a few months WITHIN your means.
ONly then can you INCREASE your means……..and still live below them.
Read the millionnaire next door……..a good book, with common sense about wealth…….long term wealth.

As for trying to follow the program at the subject to website the other person suggested, that’s NOT what you need.

Now, if you really want to get some help, from someone who’s been there, look around.
A good ‘mentor’ is not only the above, but someone who will not charge you THOUSANDS for a few hours.
They will also ‘qualify’ you before helping.

I’ll confess I have a mentor.
He has taught me some great methods for creating income, both passive and immediate cash.
The most important service my mentor has provided though, was a kick in the a$$ when I needed it.
He has chewed me out for being ’stupid’, refused to give me answers, and instead forced me to find my own.

My mentor also told me not to post on your blog, because as he said, “someone needs to put at least a size 9 boot squarely up that kids posterior and shake some sense loose.”

This was after he told me about two houses he bought last week, in a declining market, for no cash and no credit, at about HALF of the current as is value.
My mentor then admitted to me that he had not purchased a property for 6 weeks prior to that, even though there were plenty of people who WANTED him to bail them out.
We even talked about some of his leads and why he decided to not buy them.
When he described them to me I thought they sounded like money makers.
They were not.

The BEST advice my mentor has given me was in our first lesson on the phone.
He told me, “quit overthinking things, and get down to basics”.
Buying real estate to make money is to solve a problem.
Quit looking for “deals” or “Houses” and seek out people with problems you can solve and at the same time, make money.
To do this, keep in mind the golden rule of investing………..”make your money when you buy”.

Casey, be thankful, that is for sure, but stop trying to self justify your previous actions.
Nobody here really gives a hoot about what happens to you in the end.
That is the truth.

Even been down the highway and had traffic come to a near stop for MILES, only to find out the delay was merely other vehicles slowing to take a look at some accident on the side?
That’s what this blog has become sadly.
Hopefully it will help some.
I just think it will only help those who choose to help themselves.
I hope at some point, you get into the last group.

By the way, drop my mentor an email or goto his forum and ask his advice. (www.REmentors.com)
He very well might give you a verbal lashing and if your half as smart as me, you will listen to what he has to say and follow it to the letter.
I still work a full time job that covers my monthly bills and allows me to save a few dollars each month.
The money I have made with a few real estate investments along the way is my future and within 2-3 years should give me the opportunity to quit my job.
By the way, my mentor says that is a bad idea.
His advice is contrary to what he did and that is to not quit my job until my real estate investing income produces at least 3 times what my job does.
Something about investing not having benefits.

Happy Thanksgiving Casey, be thankful you are young and that some people do seem to care about you.

By the way I also think this blog is a bad idea.

Jeff
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Chet Hummel
November 24th, 2006 at 10:07 pm

Again Casey, I suggest you read Thoreau’s Walden.

It’s about one very insightful man’s experiment in living well.

Trust me when I tell you it’s MUCH BETTER than RK’s Rich Dad, Poor Dad.
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akula
November 24th, 2006 at 10:35 pm

man, i know that you may have done some shady things, but i enjoyed the observation that one person made - this is not the time of year to be pissed off. seriously, such great social commentary here. we all do stupid stuff and squander what we have. sitting here and pissing and moaning about how any of us is better is just useless. everybody needs to just chill.

and even though you may have done some very illegal things, this is your time for a second chance. few people in this society own up to their mistakes, thank you, casey, for being that person. you now have the unique opportunity to really make something of yourself.

hitting bottom isn’t a weekend retreat, its not a God-damned seminar. only after disaster can we be ressurected, it is only after you have lost everything that you are free to do anything.
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fivecentnickel.com
November 25th, 2006 at 7:17 am

Here’s some Biblical truth for you:

Thou shalt not lie on thine credit application or thou will feel the pain and pay the price.

I hope you get through this and (more importantly) learn something in the process, but I can’t honestly say that I feel sorry for someone that has willingly dug themselves in such a hole.
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Doc
November 25th, 2006 at 10:16 am

I’m thankful for my $108k/year job, my 810 FICO score, my fat bank accounts, my 401(k), my zero debt load, and my luxury car. So basically, I’m thankful I’m not Casey. Dang, working hard for that physics PhD really worked out great! Hard work, who knew?
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Free Advice
November 25th, 2006 at 1:43 pm

Doc:

How sad. I study physics (lately quantum) because I find it so fascinating.

Indeed, while you probably know more about physics than I ever will, you consider it hard work while I consider it a joy.

So I’m very thankful I’m not living like you.
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Dave
November 25th, 2006 at 2:33 pm

Great post Doc. Makes me think I’m thankful for my $177/hr flying job, my 800+ FICO score, my zero debt aside from 20% down mortgages and the ability to go fly gliders for fun on my days off. Lots of school and study and effort and paying dues and working weekends, holidays and flying through the night. Sure is nice to sleep good at night.

My wife buys old homes and renovates them. Sweat equity. Breathes life into almost dead homes, and then rents them out for years while treating the folks living in them with respect. Sells a few and repeats the pattern. She sleeps good at night as well. Of course since she still works a full time job she might just be worn out . . .

It’s not easy. It’s not quick. But the payoffs are multiple, deep and longlasting.
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Ewe_r_Smart
November 26th, 2006 at 6:39 pm

Am I the only one here who isn’t angry or a millionaire pilot/physicist?