More Facing Foreclosure Interviews

Here are a couple of smaller Facing Foreclosure interviews from about a month ago. Finally got a chance to post them. If you’ve been following me for a while the content is not new, just a different angle. Check it out:

* Facing Foreclosure on The Practical Investor Radio
Download MP3 File (5 MB)
* Facing Foreclosure on TheDonMcDonald Show
(click link and press play)

Pressure is Increasing and Marriage
Handling Failure: Dealing with a $2.2 Million Mistake at Age 24
87 Comments

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Blah
December 4th, 2006 at 11:06 am

Zzz, boring…

Please post another guaranteed 200+ comments entry.

Does anyone have any other good blogs to read? I need a new trainwreck.
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star
December 4th, 2006 at 11:08 am

Shouldn’t you be working right now instead of posting on your blog?
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Billy Jack
December 4th, 2006 at 11:14 am

Casey,
If it were me, I would quit doing blogs and interviews for a while and concentrate on getting a job. THIS SHOULD BE PRIORTY # 1(I am yelling again)

Have you been smoking dope????

Can you pass a drug test????

If not, CLEAN UP!!!!!

If you can,GET A JOB!!!!

Jesus Christ, what does it take to get through to you.

If you get a job and can prove it, I will send you 20 bucks.

I Promise or my name aint BILLY JACK.
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cLuStEr_fK
December 4th, 2006 at 11:22 am

DRIVE A TRUCK IN IRAQ. IT PAYS $200K PER YEAR AFTER TAX.
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trump
December 4th, 2006 at 12:02 pm

I send you $10,000, so stop wasting time on internet and get ur ass up and get to work
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JTR
December 4th, 2006 at 12:03 pm

Hey Casey….

It’s not too late!!!

Tony Robbin’s “Mastery University” DATE WITH DESTINY is scheduled for December 6-11 in Palm Springs!!! Could be the magic bullet you’re looking for! Emerse yourself in positive thinking….. remember Success without fulfillment is failure….. I’m sure just being in the same city as an uber guru at Tony Robbins will jar you into a blissful state without even needing a wheat grass shot! It can’t be more than a few grand…..I’m sure you can shake down your in-laws or even force yourself to “accept your parent’s generosity” and put it down for this once in a lifetime event. Really….is there a better use, or higher priority for money in your life right now?

Better yet, bring your wife. Sure, it might be cost twice as much, but in the long run, it’s the best thing possible for your marriage. Nothing could be better than getting her on the same page and helping her realize your vision for success.

Please do consider this opportunity carefully.
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Rancid
December 4th, 2006 at 12:10 pm

Daily page hits must be going down, Casey seems almost TOO eager to put up new stuff.
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Joe
December 4th, 2006 at 12:16 pm

He’d be too busy trying to find out how he can borrow so he can “flip” the sand dunes.
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Kevin
December 4th, 2006 at 12:17 pm

cLuStEr_fK - only $200,000 / yr? I know folks there that are taking home $2000 per DAY - that’ll be over a half-mil per yr…

C’mon, Casey…. Iraq is ripe for flipping!!!!
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hyperlexic
December 4th, 2006 at 12:24 pm

*snooze*

You want a traffic spike? Let your wife write one blog entry telling her side.

Now THAT’S drama.
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I know how you can make some money
December 4th, 2006 at 1:07 pm

I know that I would pay five dollars to have a three minute telephone conversation with you. I could ask you questions, particularly some of the ones you aren’t bringing up here. I’m sure there are many more who would do the same thing.

20 phone calls in one hour = 100 bucks. Think about it. You could do it all via paypal, and either call the people or have them call you.
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EL TORO ENERGY
December 4th, 2006 at 1:18 pm

I hope Santa is going to bring a nice gift to your wife this year.

EL Toro Energy is looking for sales people, continue to be a full time, big shot calling, real estate investor while you are the underground el toro salesman getting paid.

http://www.ELTOROENERGY.com
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Jimmi Ballz
December 4th, 2006 at 1:25 pm

Could you post a pic of your wife?

-Jimmi
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Hmm
December 4th, 2006 at 1:32 pm

Well, your AbleBuyer site hasn’t changed, and there doesn’t seem to be any ads on Craigslist as of yet.

You haven’t added any new details to the properties linked here on the right.

How are you doing with your goals for this week? Can you give us a daily update?
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Get a Life!!!!
December 4th, 2006 at 1:44 pm

Get a Life!!!!

Not you Casey. You have a life.

I am telling all of you “Nay Sayers” and “Haters” that post on this webite to GET A LIFE!!!!

You (Casey) have made many mistakes, costly mistakes and stupid mistakes, but at least you have a dream. Without mistakes there are no lessons learned. No growth in life.

Everyone of you are telling Casey “to go BK, get a job and give up”, because all of you negative people are all quitters. You all want Casey to just quit and give up just like you would. Hell, none of you would even try.

If Casey’s doctor told him he had a 1% chance of living. Casey would say to himself, “I’m in that 1%”. All the rest of you would say to yourselves, “Is my life insurance paid up?” or “Should I order a stainless steel or a wood casket?”.

I’ll venture to say that all you “Nay Sayers” and “Haters” don’t make any goals at all. “A Dream,” you ask yourself, “What’s That?”.

So for all you “Nay Sayers” and “Haters”, Just line up at the slaughterhouse with the rest of the cattle.

Good Night and Good Luck
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Tom
December 4th, 2006 at 1:49 pm

Casey: Please let your wife post a blog! I have a feeling all of us readers out here want to hear her side of the story. Pic included would be great. And go to prosper.com so I can lend to you!
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Willow
December 4th, 2006 at 1:57 pm

Casey, I was in Sacramento the other day and was thinking of looking you up for a coffee. On me, and at Starbucks of course! Anyway, while contemplating that prospect I came up with an idea. We could have a Casey Serin “meet the fans” day. You could fondle babies, sign autographed pictures of yourself, kiss your wife etc. Of course, there would be a cost of admission per person, say $50. We could host it at the local I-Hop and have a velvet rope too with menacing body guards in black suits. Each ticket would include a complementary Minute Maid juice beverage. Imagine the endless marketing opportunities…
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El_Hombre
December 4th, 2006 at 2:02 pm

Agreed, we need pics of the wife.
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BadjerJim
December 4th, 2006 at 2:06 pm

Hey Casey –

Long time reader, first time poster. I appreciate your overall upbeat attitude – believe me, you’ll need it to get through your… er, situation.

After reading your ‘blog for months, my input will be a bit different from the others. But its input that you want to hear, and actually need to hear.

First, you’re doing the right thing. Massive media exposure about your situation. You need this. You have thousands of readers all over the country that follow your ‘blog on a daily basis. Keep up the work on the ‘blog. I’ve noticed that over the past week, you’ve expanded your efforts and spent more time on the ‘blog. This is all good.

Next, don’t worry about your marriage. Your wife has proven to you that she is committed and understanding of your efforts. Anyone who says otherwise is likely a multi-divorce loser who doesn’t know what it’s like to be in love. Sure she’s worried about your situation, but who wouldn’t be? You prove to her every day that you have what it takes to ’step up to the plate’ and maintain this website, and even face harsh criticism. You have what it takes to maintain media attention, and get TV and radio interviews. You even have what it takes to get up early, so you can better deal with media-generated phone calls. Though your wife may be skeptical now… in the long run, she’ll understand how you brought this all together during very difficult and stressful times on your behalf.

And as to foreclosures? Frankly, I wouldn’t worry about it. Overall, banks and lenders are pussies. With all of the media attention you’ve generated, NONE of them will actually follow through with their threats of foreclosure. The one in Texas was a fluke. They acted before you have the nationwide notoriety that you do now. Believe me: no mortgage lender will want their name associated with any failure on your behalf. You are in a power position with these guys. Use it to your advantage.

So what about taxes and the IRS? No worries here either. The current Bush administration encourages small business, and ‘entrepreneurs’ like yourself. You have done all the hard work to prove that you’re worthy of individual attention. If you haven’t done so already, contact the White House. Right now, today, our President and administration are working on a program to accommodate savvy investors like yourself who are caught in a difficult economic trend. An all-expenses-paid trip to Washington DC is right around the corner. May take a couple of phone calls on your part, but I know you can make it happen.

Well, what about legal concerns? You have a phone-in podcast show coming up on Wednesday. No doubt you’ll hear a bunch of negative ‘worst-case’ scenarios – none of which actually relate to you. I’m sure it will be a good show, but keep your head up, as you already have. I’d cancel that show if I were you… no good can come from it. Just a bunch of negative energy, and you have too much of that swirling around right now.

The reality here is that you have massive support and backing from the print, TV, radio, and Internet media. You’ll soon have backing from the White House, and the President himself. The California State Attorney General – and all of the local DA’s on down from that level would not dare touch your particular situation with that kind of backing and support. The media backlash would be huge, and unfavorable.

I, for one, applaud your ongoing efforts, Casey. Your work with getting your sleep schedule in sync with the business world. Your insistence on healthy juice drinks when you need to work, focus and concentrate. Your ‘take-charge’ stance when it comes to creating a schedule for an entire month. The way you deal with your wife on a ‘need to know’ basis (reduces stress, and better for your marriage). The way you maintain this website. The way you’ve drawn the media to your situation.

And overall, that’s the key (and you know it): the media. In the next few months, governmental intervention will have solved your legal problems. Your mortgage lenders will not only work with you, but will give you lucrative contracts as an advertising spokesman. Your properties will finally sell, for well above market value, due to your ‘celebrity status’ (proven again and again in Real Estate). And this time next year, you’ll have a couple of amazing book and movie deals on the table. The best in Hollywood will compete for your story.

Go Casey!
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QUICK $
December 4th, 2006 at 2:42 pm

HERE’S SOME GOOD IDEAS FOR YOU TO MAKE QUICK $

1. REQUIRE PEOPLE TO PAY YOU $10 FOR EACH COMMENT POST ON YOUR WEBSITE

2. REQUIRE NEWS MEDIAS TO PAY YOU $1000 PER INTERVIEW

3. SELL YOUR ORGANS,I.E. ONE KIDNEY FOR $10K, ONE LIVER FOR $20K, ONE BALL FOR $25K ( ILLEGAL IN USA )

4. RUN A BET WITH PEOPLE, I.E. BK => 2:1, DIVORCE => 5:1, DEPORTED => 3:1, PROBLEM SOLVE => 1:200, => GO TO JAIL => 1:50

5. GO TO TRAIN OR SUBWAY OR TRAIN STATION AND PICK UP COINS ON THE WALKWAY EVERYDAY,

6. BE AN ESCROW, YOU RUN THE SHOW

7. THIS IS EASY..
STEP 1. FIND A RICH LADY AND MARRY HER (NO PRENAP.)
STEP 2. DIVORCE HER IN 5 DAYS AND GET 1/2 OF HER MONEY
STEP 3. REPEAT STEP 1 FOR 10 TIMES AND YOU’LL BE RICH
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AdSense
December 4th, 2006 at 3:23 pm

Readers:

For all of you visiting this blog. YOU are the true idiots here. Did you realize there is a viewing fee for this trainwreck? The reason he constantly post information and updates is to generate viewers clicking on his ads (notice how the ads are now in each update?). Let see if Casey has the guts to post this on his site. If he dose, Kudos to him.

Read this below:

http://www.realmeme.com/roller.....Meme+Miner

“Update: The first graph shows a comparison of StevePavlina.com and IAmFacingForeclosure.com network traffic. StevePavlina.com estimates $4700 Adsense revenue for Jan 2006 and Casey’s traffic almost half as large. I estimate that Casey’s site will earn around $20-25K during its projected lifespan.

Alexa.com says that the “national broadcast event” for IAmFacingForeclosure.com didn’t generate much traffic as shown in second graph. A downward trend is confirmed by the pattern of lower highs. The odds are good that Casey’s site has peaked in traffic.

The last graph is my prediction of future traffic. Traffic will rise steadily at the end of the IAmFacingForeclosure.com drama and then drop dramatically after the finale. Yes, I know it’s obvious, but what the heck, I get another claim of “successful prediction” out of it!”
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star
December 4th, 2006 at 3:51 pm

re: let the wife post.

Excellent idea. Since she’s a part of this too, I think it’s time we heard her side of things.
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star
December 4th, 2006 at 4:03 pm

re: viewing fee.

It gets old hearing about ads when I see none whatsoever.

The technology is at your fingertips so stop whining about ads.

I use Firefox with the Adblock and Noscript extension. Once you block all the major adservers, you’ll never see an ad again anywhere.
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star
December 4th, 2006 at 4:09 pm

re: “For all of you visiting this blog. YOU are the true idiots here.”

No my friend, you’re the idiot for browsing a web full of ads.
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laughing my a$$ off
December 4th, 2006 at 4:19 pm

Hey ! ! What timedid you get up this morning ? ? ? I felt kind of empty without the little “good morning!! I love being an early riser!” Guess you decided that it was pointless huh? Kind of like getting a job??
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Easy Living
December 4th, 2006 at 4:20 pm

You’re getting desperate, aren’t you?

“Pay attention to me!”
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El_Hombre
December 4th, 2006 at 4:24 pm

dude, go get another Jamba Juice and let the wife post. Hits will go through the roof!
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Vague Guru
December 4th, 2006 at 4:28 pm

Some of you posters have been kind enough to take the time tell Casey he needs to seek counsel from a BK attorney.

Don’t waste your breath, this is the last thing Casey wants or intends to do. For those of you who are new to the blog, or are unable to read between the lines, Casey is a conman.

Casey conned his wife into thinking he was a wealthy RE investor, he conned the banks on the liar loans and the undisclosed cash back at close shenanigans. He tried to scam all of his friends, family and acquaintances with the “24% guaranteed return” ponzi scheme email. Whoever lent him the last $6k will never see it again. He had another “sweet” $50k cash back deal that fell through when his credit started catching up with him.

As soon as Casey declares BK his scamming days are over.

This is the real reason he has not declared BK, it has nothing to do with his wife’s credit, which is already trashed. It has nothing to with paying back every ‘dirty cent”, he can do that whether or not he declares BK. It has nothing to do with the Pseudo-Christian mumbo jumbo he tries to con people with to gain sympathy.

Casey may not end up in a real prison (that’s yet to be determined), but his prison is going to have to work a regular job garnished to the max for the next 10 years.

No more “sweet deals”, no more wife, no more bird dogging, no more living beyond your means using somebody else’s money. Goodbye Jamba Juice, Starbucks & Macaroni Grill. Hello Top Ramen. No more easy credit.

The blog will die out. Seriously, who will want to come here when Casey is back living with his parents working a fulltime day job and second job slinging slushies at the Quicki Mart?

Here’s my predictions:

Casey will delay the BK until the bitter end which will probably be sometime in April or May of next year.

His wife will leave him shortly after Christmas when the next round of credit payments are due.

His current temporary job with Chris will disappear in January.

He will move back in with his folks and sponge of them until he “finds” himself.

Enjoy it while it lasts Casey, because it will be ending all too soon.
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Stephanie J
December 4th, 2006 at 4:46 pm

Recommended Reading for Casey (continued)…

“How Market Yourself into Incarceration!”
By Ida Notblogged.
Just follow this award-winning step-by-step tutorial to self-fulfillment. Learn how to use every available media-avenue to attract as much attention to your crimes as possible!!! Maybe your 100% pure honesty will protect you!

and then following this book, I recommend:

“Easy Living” by Pulizter Prize Winner: Biff “Mommy-Killer” Jones.
A Best Selling Guide on how to secure a responsibility free life, with few expenses, no real job, and free access to the internet, books on self-help, gym, and 3 squares a day. You’ll even learn now to function in a miminalist environment, to shed all your earthly trappings, perhaps find God, and to appreciate the love of your fellow man.

Available now at Barnes & Snoble.
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They_Will_Know_Us_By_Our_Bubbas
December 4th, 2006 at 4:58 pm

Yes, wife.
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WTF
December 4th, 2006 at 5:14 pm

ADSENSE,

Thanks for the info. I run Mozilla and do not see or click through on anything this LOOSER has to offer. ( and yes, I realise what Casey’s “game plan” has been from day one)

I’ll do ya one better. There are things you do not know about Casey. This is not information readily to the general public, but if you have some connections or talk to people that truly know him, it puts this entire circus show in perspective.

Casey, why not tell the fine people about your last “get rich quick ” scheme and how that did?
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star
December 4th, 2006 at 5:53 pm

I don’t see how Casey could have conned anyone into “thinking he was a wealthy RE investor”. If I’m not mistaken didn’t he live with his parents when he hooked up with her? From what’s been said here he didn’t have a big bankroll, only 30k minus whatever his credit card was that debt he paid off back then. I doubt he was driving a nice car or anything else that could have lent to status.

If his wife got the impression that he was a high-roller then she must be pretty naive

From what I’ve seen so far and without hearing her side of things, it sounds like she has a strange sense of entitlement and is lazy. It sounds like all she’s looking for from Casey is money.

Maybe with Casey she got what she deserved?
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Aaron
December 4th, 2006 at 6:20 pm

So, you remember when you started this blog and people gave you some good advice about how to solve all of your problems? Yeah, remember that? You know, when you blew all of us off and insulted us with this “haters” nonsense?

Now that you’re completely screwed, don’t you wish you hadn’t been such an idiot and listened?

By the way, all of the following are scams, frauds, or myths:
1) Get rich quick
2) Detoxication
3) Wheat grass
4) Most anything you read on Pavlina’s site not directly related to time management, for eg, his views on microwave ovens.
5) Fasting

Sure, I know, you’re already not listening. But seriously, have you done anything right, anything at all, since you started this blog?

If you’re ready for a change of heart, listen to what people are saying. Suck it up, be a man, and declare a big fat BK. Stop borrowing money. Tell your wife the complete and total truth. Discharge your debts, then either get a real education for a non-scammy profession, or just jump right into getting a real job, accepting of your limited salary potiential.
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Wealthyboomer
December 4th, 2006 at 6:36 pm

The National Association of Realtors reported that home prices have now dropped 3.5 percent since last October. That is the biggest drop on record. That now makes three months in a row of dropping prices, which unbelievably is the longest stretch of declines on record.

Even though those statistics are literally history in the making, the real story is most people are ignoring the comments made by the Federal Reserve chairman this Tuesday. He admitted, possibly for the first time, that the housing correction could, quote, “turn out to be more severe and widespread than most people thought” and that it could, quote, “be a drag on the economic growth into next year.”

Just think about it logically for a second. To most of us, our biggest asset is our home. Now, are you willing to splurge more on the TV or a big vacation if you think your home is worth $300,000 or $500,000?

People`s perception of their own wealth is all that really matters, because perception becomes reality to them. But to me, this isn`t just about our economic security. This is about real security, as well.

Our economy is so important in preventing the perfect storm that we`ve been talking about from forming against us, because our financial health is what bonds all of us together, and it`s what enables us to fund our military and keep ourselves safe. Unfortunately, this latest story shows us that we are more fragile than most of us are willing to admit.
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yneone
December 4th, 2006 at 7:50 pm

Wow, he’s awesome. BadjerJim you are a breath of fresh air. Love your commentary. Just what’s needed in this Yod (meant to type this way) forsaken place that we call Casey’s blog. Thank you for the words of encouragement… I’m sure it meant alot to Casey.
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yneone
December 4th, 2006 at 7:55 pm

Casey, save a little of your personal life. Do NOT show pictures of your wife at this website. Give as few details as possible about the current state of your relationship. Some of these people do not deserve to know all the details. Let em read about it when you get your book and movie offers.
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J. Whittimer Lightning
December 4th, 2006 at 8:20 pm

Keep your head up sunshine.

Although things in your personal life have begun to spiral out of control, I want you to stay positive in things eternal.

From what I can gather by reading various bumper stickers, there is a gentelman named Jesus, who appears to have some contractual obligation, to love some of the most downtrodden looking individuals, to whcih I have ever seen.

My guess, is that you would make his short list.

Casey, I do believe that I can help you out of your worldly troubles. I do believe, I have the plan.

J. Whittimer Lightning
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BT98
December 4th, 2006 at 9:28 pm

Casey,

You started this blog to see if others are in the boat with you. Looks like you are all alone. Don’t see anyone confess anything even close to what you have got youself into.

Doesn’t that bother you after more than 3 mo of blog, no one claim he/she has done anything that are remotely close.

Let’s face it, your experience have very little education value, because nobody with common sense will try your stuff. Yes they may lie a little on a loan app, but they buying their 1st house and they have a job. You on the other hand, have no job and 30K credit card debt and you thought buying a house is a good idea to wipe out credit card debt. Wao! what a genius solution. Instead of having 30K unsecured debt, you proceed to buy a house and have 350K collaterized debt. You then repeated the process 7 more times until the bank pulled the plug on you.

To think you can find many people that are in the same boat with you is laughable. Now you don’t want to work. Still trying to do one last deal that will wipe all your debt clean. Blog away and go after bad publicities will not save your a$$.

When asked what you have learned. You said don’t lie. But you continue lying to yourself and your family. You continue borrow from your friend and family and making false promises.

You are like drug addict and your addiction is borrowing money. Like the drug addict require more and more drug to feel the same effect, you require to borrow more and more money to get through each day.

Most immigrants are hard workers, but you sir have no work ethics. I am not sure you can even go back to web design work any more. How long will Chris keep paying you for doing nothing?

You’ve cornered yourself to a financial disaster and no amount of blind optimism can save you.

BT
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Les
December 4th, 2006 at 10:00 pm

Casey:

it is obvious you find those of us who make “harsh” comments to be “haters.” That is not the case. You must realize at this point that we don’t know who the “real” Casey is.

On one had, we wonder if you are a 24 year old selfish and self-absorbed fraud and con man who got caught… so, to to mitigate the damage, you’ve started a new scam (this blog).

A second option is you are immature and lack basic common sense and don’t understand the reality of the hole you’ve dug yourself into….

The third option is that you suffer from a variety of personality and mood disorders - some of which there is not treatment or cure…..

The final opton is, of course, this entire blog is a huge joke for which you are laughing all the way to the bank.

Regardless of “who” the real Casey is - shame on you.

You said when you started the blog you said: “Hopefully this will help you if you’re in the same situation or know somebody who is.”

You’ve yet to deliver on that promise.

Tell us who the real Casey is…. and make it soon… I see Dateline and/or 60 minutes in your future. Then, Nancy Grace will seek you out. These won’t be easy interviews. these journalists will dig deep, they will find the “truth” and expose you…. and it won’t be a pretty picture.
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Dan Riba
December 4th, 2006 at 10:09 pm

If there is any truth to this site at all, I am amazed that Casey allows comments to be posted that disrespect his wife. These insulting comments could lead one to believe that Mrs. Casey is totally aware and in on the deal, or that Casey cares nothing for her. Sanity would demand that Mrs. Casey is completely aware of this blog. This casts things in a very odd light. Mr. Meme guy suggests the most plausible story, yet I feel that there is more. We needs us a tell-all about Iamfacingfork-looser.com. Ink wiring mines wander no.
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Nigel Swaby
December 4th, 2006 at 10:23 pm

Be careful who you kick when they’re down people. You may end up working for them someday:

http://www.sfgate.com/cgi-bin/.....F4AI81.DTL
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Free Advice
December 4th, 2006 at 10:34 pm

Just think about it logically for a second. To most of us, our biggest asset is our home. Now, are you willing to splurge more on the TV or a big vacation if you think your home is worth $300,000 or $500,000?

Wealthyboomer:

This explains your name. The reason we don’t have the “economic security” you whine about is precisely because of “splurging” on TVs and big vacations.

That’s bad enough, but when you build up those IOUs overseas, no military in the world is going to save you.

But don’t worry. I hear that when Hu Jintao asks you to bend over, he usually uses lube.
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Yichel
December 4th, 2006 at 11:12 pm

Casey,

I know that what you are going through is difficult, and that sometimes these comments are either ironic, sarcastic, or hateful. But I think you are doing a good thing by blogging about your debt. I’ve been thinking about your problem recently, and I think I have a solution for you. I know a lot of people in the comments offer solutions, but perhaps my suggestion may provide you with a different angle to the problem. The solution, in my honest belief, is:

Identity theft. You’r credit score is ruined, so doesn’t it make sense to steal someone else’s? It’s an efficient way out of your problems without doing too much work. You have some knowledge of web work, and can probably set up a phishing site pretty quickly. You could probably even ring up someone else’s credit card to pay off some of your debt, and considering its not yours, you don’t even have to pay it back.

With this solution, you could probably buy 7 more houses. Given the experience and wisdom you have obtained through this ordeal, there is no reason why you wouldn’t even come out on top when all is said and done.

Anyways, I just thought I’d offer you my two cents, whether you decide to pursue it or not. Best of luck!
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Ben There
December 5th, 2006 at 12:29 am

no doe
no ho
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Lou Minatti
December 5th, 2006 at 5:27 am

Casey,

Please stop talking about what your plans are and actually do something about your perilous situation. While most of the messages here are flamage, there has been some excellent advice sprinkled in. You appear to ignore it. Why ask people what you should do when you don’t listen to their advice?
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BT98
December 5th, 2006 at 5:29 am

Casey,

By now you must have figured out your short cut has become long cut. Your get rich quick has become get poor quick. Your prayer has been unanswered.

What happenned? You have yet to learn from your mistakes and turn from your errored ways. I hope you come to your senses and don’t try to do one more trick that will get you out of this whole mess, because the sooner you change the sooner bleeding stops and the sooner you can get back to normal.

Think about it, you weren’t able to go from nothing to wealthy, how can you go from massive red to wealthy by using the same technique that get you from nothing to massive red. Oh yeah, you do need change your thinking too. Your hero RK, DT are no help to you, don’t worship them no more. Those guru courses are poison, get rid of them. Don’t believe borrowing more money will get you out of your trouble. Hard work beats hard time in jail. Don’t think your wife will never leave you because of the promise “for rich for poor”, have you keep your promise to take care of her? Anyway, whatever you do before, just do complete opposit and maybe God will smile on you again.

Good luck,
BT
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Buzz Saw
December 5th, 2006 at 5:54 am

Hey kiddo, did you wake up early again this morning? Are you staying regular? I hope all is well for you and yours.

signed, Buzz Saw
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Casey Serin
December 5th, 2006 at 6:28 am

Good morning! It’s great to be an early rizer. Although it was a bit hard this morning because I stayed up late working on some things for Chris. And this morning, the reason I’m late posting this entry is ‘cuz my cable modem cut out for some reason and I was stranded without the internet. I’m glad i’m still paying my Verizon bill. I was able to jump online via my cell phone.

Man the hate comments are continuing to increase. Everybody thinks i should BK out of this thing. I talked to my wife about it both of us doing it. It was a hard conversation. We’re still talking about it.

Some of you are wondering if I’m following my plan for the week on selling houses massively. Unfortunately I haven’t done much in that area because of my obligations to my job. Like I said there was some extra work-load I needed to take care of stuff. I have a lot of work today too.

This is really getting frustrating because I need to get those houses sold! But I need to be earning money even more. The houses are not going to net anything to me. Just trying to do the right thing at this point and minize the losses to my lenders.

Some of you are thinking this is a scam. Espcially when somehow I get a loan for another 4K. How did i get that? I would love to tell you the full story on that one but i’m not quite ready yet.

And whoever said that borrowing 4K to pay the credit cards when we are likely going to BK is stupid. I agree. But I’m not completely sure if we’re going to BK just yet.

My wife’s credit IS NOT ruined just yet. We were ALMOST 30 days late but I think we made it just in time. Gotta call the credit card companies and see if they reported. I’m pretty sure they haven’t yet.

The only other thing on her credit that might be bad is the foreclosure in Dallas. We were both on the hard money loan but I was the only one on title. The lender said they normally don’t report to credit and in my case they promised not to report at all. Yes, the public record will probably make on her credit eventually (unless it falls through the cracks). But is that going to lower her score or just show up as extra info?? I dunno.
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Gustavia
December 5th, 2006 at 6:47 am

I said it the first week of this blog. Casey is playing an elaborate game of “Why Dont You … Yes, but.”

The object isnt to get valid suggestions of what to do to get out of these situations, but to reject the ideas.

Because he is smarter than anyone else.

His conman personality allows him to seem sincere, but he is still convinced he can finagle his way out of this mess.
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casey can do it
December 5th, 2006 at 7:05 am

face it. the wife’s credit is screwed. I suppose you believe in the easter bunny too if you think it’s not screwed. You truely don’t get it yet. You should not be paying the CC bills. that 4k you borrowed(i am guessing family and/or friends). that should have been kept in cash. Remember this….when the credit card companies finally start coming after you for the cash….they will find any and all savings/checking accounts and take the money(they did that here to my brother in Virginia). he left only 2 bucks in the account. CC companies will go through the trouble with attorneys etc to squeeze whatever they can out of you. my brother now lives a cash life due to his irresponsible behaviour. thankfully his mistakes are NOWHERE near as bad as yours. When your wife finally wakes up and realizes she’s just as screwed as you….that’s when i predict we get a blog with the subject line ‘wife left me b/c of lack of sweet deals’.
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Robert Coté
December 5th, 2006 at 7:08 am

Worse than denial.

1. They aren’t hate comments or haters just because they criticize your worldview.
2. The houses are costing more than the job is earning. -If- your priority were making/not loosing the most money then the houses would come first. Understand, you’ve switched prorities from global to immediate needs. In doing so you are causing further harm to your lenders, exactly the opposite of what you claim are your intentions.
3. In the time it took to say you don’t have time to explain where the $4k came from you could have explained where the $4k came from.
4. You aren’t sure about BK? Why aren’t you sure? Dinn’t Tim’s spreadsheet tell you everything you needed to know?
5. Your wife has a foreclosure, maxed cc and lates. She also has one, possibly two preforclosure properties recently transfered to her name according to the records. Her credit is ruined and you are in denial. Your not liking an answer has nothing to do with the truth of an answer.
6. Oh… nevermind.
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Ken
December 5th, 2006 at 7:10 am

Wonder if your cable cut you off? You might need to be making trips to the library to do your posts now.

You LOSE at life.
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Sputnik the Cat
December 5th, 2006 at 7:17 am

aaack!!

Man, you get up EARLY. Even earlier than my owner, but he usually feeds me before he goes to work. You see, he’s one of those SUCKERS with a j.o.b. I think he also has two houses, some nice cars, adequate pension savings, and travels around the world a lot. Like I said… a SUCKER.

Give me some fishy treats, fool!

S_t_C

PS - Pet me.
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Jim
December 5th, 2006 at 7:42 am

Casey, the main problem you have is that you don’t have any formal education or a trade. That’s why its so hard for you to get a job that will pay a reasonable wage and/or have good upside potential. Why not look into sales? That’s a job where a guy with little formal education can still do well for himself (provided he can close!!). That, or go back to your web-design/prorgramming job — that’s a skill which is in demand out here.

I imagine that you are like many people (myself included) who look at corporate/government jobs as a tedious dead end (I worked both for several years). With enough experience (and, in my case, education since I own a high-tech business), you CAN go out on your own and make a go of it. As long as you are cognizant of the need to establish and maintain a competitive edge and barriers to entry among your competitors.

That’s the problem with real estate– back in the day (last year) any fool who could hold a pen imagined himself being the next Donald Trump. There was no barrier to entry and you generally could not maintain any competitive advantage over the other speculators. Truth is, massive RE speculation is best left up to the pros (who themselves still lose tons of money on occasion). Time for you to look to greener pastures!
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Nice Try, Scum
December 5th, 2006 at 7:55 am

Great summary! Dee.

As usual, I agree with you 100%.

As for Jail bait: It’s people like yourself that have damaged the real estate and home loan industries, and this country as well, to such a point that they/it openly condone(s) the likes of Ocwen, Litton, Fairbanks, EMC. AmeriQuest, etc.

BTW: It will be people like us that will once again pay the price for cleaning it up, just like the S & L scam.

If we’re lucky at all law enforcement will, for once, focus on the ones who are most deserving of their attention, and therefore you just may skate away, but don’t count on it… I have a hunch Scapegoats are going to be in very high demand quite soon.

Ohio
Unread post Yesterday at 11:22 PM Reply with quote

After reading all I could stomach I just want to say you are a brainless freaking idiot if you actually “BELIEVE” your dealings may be legit.

You need to go away little boy and bother another forum. You got yourself into your own mess. I don’t believe you are as stupidly innocent as you would wish your readers to believe.

Your brand of theft is no different than the theft we have been subjected to.

You are a criminal and I hope you get everything that’s coming to you.

Ohio
Unread post Yesterday at 11:32 PM Reply with quote

I respectfully request that this thread be locked and this crook banned from this forum.

Nye Lavalle
Unread post Today at 01:17 AM Reply with quote
Not so fast folks, I went to web page and then to other sites and blogs and learned more about LIAR LOANS that is what they are termed. What you have id fraud being really sanctioned and commited by the lenders who provide incentive for the fraud and no the end game.

The brokers are given a drug to sell then to go out and push it without any thought as to the consequences. Think how many bad loans like these are out there and need to be “liquidated” because of the actions of the Scammer Wall St folks who push this off on the street dealer brokers.

They then create the EMCs and Ocwens of the world to be the hit men and liquidate loans and if you are a problem they throw you to the toxic waste dump.

Yeah, the guy is an idiot, but he is an idiot who was pushed into the system by crooked Wall steeters and their conduit dealers to see how much of their drg they could push!

Ohio
Unread post Today at 09:02 AM Reply with quote

Fraud is fraud no matter what you call it. God gave me enough sense to know the difference and the integrity to choose my path.

Integrity won’t always pay the bills but it’s better than worrying the feds are just a half step behind me.

This person is not a victim. The fact that he defrauded a lender instead of a borrower makes no difference.

Blaming the industry is fine because they have created alot of this themselves by being so lax in the lending business BUT that does not mean any one of us have the right to do what is morally and legally wrong.
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Unbelievable
December 5th, 2006 at 7:55 am

For the love of God

Pick a plan - ANY PLAN - and stick to it

You aren’t accomplishing anything right now

Your wife’s credit is toast (burned toast) just like yours
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Unbelievable
December 5th, 2006 at 7:57 am

Oh and the word is RISER

not rizer

LOOSER
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Back to Reality
December 5th, 2006 at 7:57 am

Casey, dont fool yourself into thinking the foreclosure will “fall through the cracks” on your wife’s credit report. Here is a link to the trustee’s deed:

http://www.realestate.countycl.....0600425251

This information will quickly make its way to your wife’s credit report, if it hasnt already, and will lower it. I assume when you say you “were ALMOST 30 days late,” you paid the payment 29 days after it was due. If there was anything to prevented the payment from posting the same day you sent it, I would be willing to bet she has a 30 day late on her credit report. I am not trying to be a “hater,” but you do not have a sense of reality and you are sorely mistaken you are saving your wife’s credit.
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Billy Jack
December 5th, 2006 at 8:08 am

Your wifes credit is trash. Your credit is trash.

Thats it!!!!! You can be a “trash man”.

Have you found a real job yet???

How many applications have you and your wife filled out today????

Please post copies of them when you finish.

Thanks,BJ
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KruziTürkn
December 5th, 2006 at 8:21 am

Jamba Juice supplier warns of bad berries
Unit of organic food company SunOpta recalls frozen strawberries that may be contaminated with Listeria organism.
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jerome
December 5th, 2006 at 8:21 am

Hey knucklehead, if she is on the loan it’s reporting to her credit. It doesn’t matter who’s on title, idiot. If she was on the loan, her credit is screwed. And yes, the lender does report to the credit bureau. You are a gullable fellow aren’t you?

Do you do anything productive throughout your day? You talk about how much work you’re doing, yet you get no results.
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91q45
December 5th, 2006 at 8:22 am

Casey,
The advice that people are giving to you should not be taken as (hate comments) Its sound advice to correct your problems, I see it all the time, your credit and life will be much better after the BK.

However its clear that you set this site up from the start as a source of income as many others have pointed out.

The big question is, why not take the steps to fix your problems and at the same time you have some cash flow from your site? Why are you not filing for BK protection under current laws?

91q45
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jonny quest
December 5th, 2006 at 8:26 am

I hate reality shows, never rubberneck, yet I tune in to this one daily; I admit it, I’m sick.

Casey you said “…And this morning, the reason I’m late posting this entry is ‘cuz my cable modem cut out for some reason and I was stranded without the internet. I’m glad i’m still paying my Verizon bill. I was able to jump online via my cell phone.”

I don’t want to brag, but I could write a check for your debts and I don’t have wireless internet because I don’t need it. You have cable internet and WIRELESS INTERNET too, let alone regular cell service? With your money problems?

So with that way of thinking, why did you ever bother buying that piece of crap car and instead lease something nice ’til it gets repo’d? Couldn’t pass the credit check to lease a Range Rover is my guess - shoulda had the wife lease the ride.
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Billy
December 5th, 2006 at 8:26 am

From today’s LA Times:

A Newport Beach man pleaded guilty Monday to fraudulently obtaining mortgage loans resulting in more than $2.7 million in losses to the federal government and commercial lenders.

In a plea agreement, Lorenzo Espinoza, 39, admitted engaging in a scheme from April 1995 to May 2001 to defraud the Department of Housing and Urban Development and several commercial lenders by using “straw buyers” to arrange fraudulent mortgage loans. The loans went into default, leaving lenders and the Federal Housing Administration holding properties worth less than the amount funded in the mortgages.

At his sentencing March 12, Espinoza faces up to 26 years in prison
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NoVa Sideliner
December 5th, 2006 at 8:29 am

Casey,

You are again being wistful:

My wife’s credit IS NOT ruined just yet. We were ALMOST 30 days late but I think we made it just in time.

You THINK you made it just in time. Again, there’s the old just-barely-almost-in-time action on your part, and then the HOPE that you made it. Contrast that with most people I know who KNOW that their payment is on time because they made it in plenty of time and saw the payments already processed.

A similar situation is the Dallas foreclosure. You HOPE that the credit bureaus only pick up your name from the public records (maybe you’re right, and I do hope so) and not hers. But you apparently trust the verbal statements of the lender’s representative, which might bite you later. The rep you spoke to can say what he/she wants, but it may not be up to them what gets reported. Yikes.

How are the other houses going? Have you got that toilet clean yet? :-) I reckon that shouldn’t take you any longer than a 3-mile jog, and the same goes for lots of other minor cosmetic things on those houses. Seriously, though, you’re probably in a hopeless situation with those houses, given the amount you owe ($$) versus the current market value ($) even if they’re clean.

For new readers to the blog: One reason Casey can’t just sell those houses fast is because he took out cash at the purchase, in effect getting a >100% mortgage. The price being high and out of line already, he’s way upside down on these, and there is no easy way to sell these other than bringing to the table all the cash he took up front PLUS the amount he overpaid, PLUS the since-then market depreciation. Impossible. Hence his pursuit of short sales and deed-in-lieu.

Meanwhile, renting them out would still require hefty, monthly cash infusions from Casey because the rent would come nowhere near covering his vast mortgage payments. If he had a kick-axx good job and his wife did as well, then he might be able to get by with that, though, by living on Ramen noodles and subsidising those potential renters for the next ten years. I suspect you won’t be able to make yourself do this.

I’ll say it again Casey, get rid of those houses as fast as you can and by whatever means. Don’t even bother with trying to scoop cash out of such transactions, since that’s not only possibly illegal if it’s under the table, but also because we’ve seen that even considering such things makes you putz around and delay deals.

Once you are done with those houses, then it’s time for you and the missus to evaluate your now-cleaner situation and decide if it’s BK or just a decade(s)-long struggle to pay back some of what you owe, even as the interest accrues like mad.

What’s the foreclosure timeline on your remaining houses? Seems like surely the lenders would have sent you more correspondence about them lately, but we haven’t heard. You are opening all your mail, aren’t you? Aren’t you?
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M. SINGH
December 5th, 2006 at 8:37 am

Mr. SERIN,

If you are unable to jettison these properties, I recommend assembling a team of attorneys to advise you in real estate, tax, bankruptcy, and criminal matters. You can use your advertising revenue to afford monetary retainers, and your newfound notoriety might be impetus enough for them to waive their fees. As it stands, you have not developed a plan of action now — and it seems unlikely you will be able to do so in the coming months.

I see that you are using Google AdSense and Amazon.com links to gain advertising revenue. However, where is the obligatory CafePress merchandise? Your Adobe Photoshop skills, combined with your androgynous appearance, may provide a much-needed source of revenue.

I remain,

M. SINGH
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WTF
December 5th, 2006 at 9:00 am

“Some of you are thinking this is a scam. Espcially when somehow I get a loan for another 4K. How did i get that? I would love to tell you the full story on that one but i’m not quite ready yet. ”

Yes, I know this is a SCAM. Give me a break, you’re not quite ready yet to tell us. Of course you’re not, that would reveal this is a scam.

Casey, some of us know more than you think. So do the respective DA’s in the counties where your properties languish. I agree with Robert Cote. I give this until about April 2007. By then, all of this nonsense and drama will be played out and the Prosecutors will have enough information to proceed in their cases.

Casey, enjoy your free time while it lasts.
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Sprezzatura
December 5th, 2006 at 9:14 am

I was under the impression he borrowed the 4K from his “poor dad”.

Funny how his various mentors and rich dads have never truly helped Casey, but his poor dad who never did a ’sweet deal’ in his life is the one actually trying to help.

Something to think about, that.
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Jobu
December 5th, 2006 at 9:35 am

Today I got up at 6 a.m. and so did the wife. I went downstairs into my basement to work out. She took a shower to get ready for work (it takes her longer to get ready than me). I did the same after working out. After my shower, I rewarded myself with orange juice from a gallon jug in my refrigerator (it’s good though - Tropicana premium). The wife went off to her job around 7:30 - it’s a bit of a commute. I left at 8 for mine as it’s closer to our 4000 sq ft house that we bought about 10 years ago. I get pretty good coffee at work for FREE, although I brew my own Starbucks on the weekend. However, last weekend I had a hangover from a night of fun poker playing so I went out for Starbucks.

I am probably going to go home for lunch. I’ve got some good food there and it won’t cost me $8-10. We do like to eat out some and probably spend too much at times but it’s kind of a reward for both of us working at our jobs.

I am going skiing soon at my condo in mountains that I purchased about 12 years ago. It was my first investment, bought at a good price and the rental income (weekly or nightly) is nice. We have no mortgage on that property any longer. Over New Years we are going to our beach property that we purchased about 10 years ago. It was also purchased at a great price and sits right on the ocean. That property has a 5% fixed rate mortgage and is cash flow positive. I also have a couple other ski properties - one was purchased at auction and the other preconstruction a few years ago. It has doubled in value. It may come down some but prices are holding pretty steady so far at the resort. However, we have no intention to sell at this time.

We did put 20% down on these properties when we purchased them but we had the cash because we both have jobs.

We try not to overspend and we have not paid any interest to credit card companies in about 15 years, although we do use our cards regularly. We also have 3 cars, all of which are paid off.

Tomorrow I will probably get up at 6 am again, work out, and then go to my job.

Funny how that works out.
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George W. Bush
December 5th, 2006 at 10:01 am

Git a job or im gunna ship you to Irack.

GWB
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SAD
December 5th, 2006 at 10:57 am

Hey Casey,

Reality is often worse than our dreams or fantasy. Yet we all need to face it sooner or later. We all realize that it is easy to get caught up in get rich quick scams. Those things are really good at creating the hype, however that is all it is. When the dust settles you find yourself where you are at.

My advice is this, don’t do anything. The houses are gone. They will never sell in this market. You are better off letting the lenders deal with them. Stop paying your credit cards. You are in such a hole that you’ll never be able to dig out of it. Yours and your wife’s credit score will be salvaged in 7 years, so in the mean time pay for things in cash. You don’t have to declare Bankruptcy. With the amounts you owe on credit, the card companies will just sell the debt off to collection agencies that will send you a letter every now and then trying to settle the debt for less than what you owe.

Get you life back on track now, and then down the road when you are more finacially stable, you can attempt to settle the debts that you have incurred now.

Hope this helps!
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fijirobe
December 5th, 2006 at 11:13 am

When are people going to realise that prices dropping isnt the end of the world. If something appreciates 50, 60, even 100% like many market places did over the last 5 years or so and they drop 3.5% for one month, it still is up a tremendous amount overall???? Also, you really have to look at real estate from a local level, statistics can be manipulated very easily to tell any store you want. 3.5% decrease is an average for the entire country. What you really need to know is what was the percentage for your location? This is where Casey bombed, he bought at the top of the peak, so any drop would hurt him. There are plenty of locations where you can still flip and make a profit, I just dont think Sacramento is one of them. Casey seemed to have a problem with buying site unseen. Basicly, he screwed up in the worst way at the worst time. Cheers
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Jim Jones
December 5th, 2006 at 11:27 am

I’m got the perfect way to get out of your troubles.

See, lots of people are running foreclose rescue scams such as:

“Lonni Ashlock, 56, Waterford, California, Ronald Buhler, 25, Riverbank, California and Sue Walls, 58, Notary Public, Ceres, California were ordered to stand trial after a month long preliminary hearing. They will be arraigned on charges arising from their alleged participation in a foreclosure rescue scheme on December 4, 2006.

According to media reports, Ashlock and Buhler lied to gain the trust of seven families facing foreclosing and then tricked them into signing over the deeds to their properties for a fraction of the property values.

Buhler would allegedly seek out people about to lose their homes and offer to help through a wealthy friend. According to media reports, silent partner John Myrtakis of Matel Realtors, would secretly put up money to help bring homeowners current on their mortgage payments. After obtaining the deeds to the homes, Buhler and Ashlock would rent the homes back to the homeowners and promise them they could reobtain title in two years. However, the homeowners were generally evicted and the homes taken and then transferred among numerous LLCs, according to media reports.

The judge found that there was sufficient evidence to believe that a crime was committed and ordered the defendants to stand trial.”

So Casey, get yourself scammed then whine to the DA about it.
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The Ghost Of BK Present
December 5th, 2006 at 11:53 am

Hey WTF - Tell us what YOU know about Casey that some of us don’t yet. Otherwise, you’re just as guilty of playing hide-the-weenie as Casey is. ;)

THX
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Jeffrey Skilling
December 5th, 2006 at 12:04 pm

“Casey conned his wife into thinking he was a wealthy RE investor, he conned the banks on the liar loans and the undisclosed cash back at close shenanigans. He tried to scam all of his friends, family and acquaintances with the “24% guaranteed return” ponzi scheme email.”

Casey is good! Now he is conning us by dramatizing his stories to bring in more add clicks.

If you are puzzled why Ca$ey wont listen to your good ideas, is because this is being done on purpose to bring in more people to this site to generate more money.

Ca$ey habits continue, now he is screwing us, the readers with less than real drama stories like these.
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wallace
December 5th, 2006 at 1:12 pm

So… Casey doesn’t want to tell us where the 4k came from… isn’t it obvious?

He probably got it from all the traffic on his website. If he came out and told everyone, fewer people would come to his website, thus he’s keep it under wraps.

Casey - in a couple of months, when people are sick and tired of your horeshit and you are no longer generating ad revenue, what are you going to do?
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yneone
December 5th, 2006 at 2:08 pm

JOBU, you’re a genius. You must create your own blog and give us the specifics of how you do it all. At the same time, can you also gloat about it and have a stick so far up your ass that we can all sit around and admire you for it? Please post the name of your website when you get one. Thanks.
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Whiney One
December 5th, 2006 at 5:10 pm

Hey YNEONE

JOBU isn’t a genius, he sounds like a normal guy to me.
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yneone
December 5th, 2006 at 6:56 pm

W.O., you are delusional.
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Jobu
December 6th, 2006 at 7:18 am

To Yneone,
I was being a bit sarcastic, although truthful, in the first part of my post (the juice and Starbucks, etc). I am not gloating. I go to my JOB everyday and work. I wanted to lay it out for Casey how some of the real world goes about their lives and a way to invest in real estate that is different from the guru seminars. It’s not rocket science. I basically gave you the information already but here is a little more detail.

My wife and I both went to college and got degrees which enabled us to get JOBS. I paid for my college with a combination of student loans and scholarships. We saved some of our money and didn’t overspend on everything. At one point in my early 20’s I had a couple credit cards with high balances but I decided it was dumb to pay those companies 18% interest so I worked to pay them off. As I said, I still use them but pay the balance each month - free use of their money.

In my 20’s, I bought a house TO LIVE IN and paid the mortgage with my JOB. When I was single, I had a couple friends renting rooms there as well. Later, after getting a few raises, I sold that house and bought a larger one. I did the same thing again after we got married. We have lived in our primary residence for about 10 years. About 12 years ago, after researching some areas, I used money I had SAVED to put a 20% downpayment on a vacation property that would cash flow positively with nightly and weekly rentals. I used the money to buy a ski property that I had rented while on vacation. It was for sale and for a price that I determined was a bargain. I researched the rental income, homeowner dues, taxes, etc. With my 20% down, I got a good fixed rate mortgage.

A year or so later, we got bonuses at work because WE DID A GOOD JOB and bought another property in a different area that we knew very well. The price was right and the rental income was there to at least break even. Again, 20% down, fixed rate mortgage. Repeat those words over and over.

My auction purchase was made after much research. I went to the area and looked at probably 30 properties, took pictures of all of them, talked to rental managers, read minutes from homeowner association meetings, and built spreadsheets to determine the cash flow prospects for each one. After all that, I did NOT buy a property as none quite met my criteria. However, knowing the history of the area very well, I knew that prices were in a down cycle but rental rates were holding steady or increasing. The auction was a developer closeout on new construction. After looking at that property months later, I determined that the time was right to buy.

My net worth is pretty good but the properties don’t produce enough income for me to quit my JOB (yet). My point to Casey was do the research, hold the properties long term, and you can do okay.

That’s it in a nutshell. I suggest you read ‘The Millionaire Next Door’ as others have mentioned here. It might help you understand better.

Bartender, Jobu needs a refill.
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Whiney One
December 6th, 2006 at 8:07 am

YNEONE

Delusional ? I think not.
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yneone
December 6th, 2006 at 9:11 am

JOBU, I also mentioned you getting your own website remember? Way too much information. LOL.
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Sputnik the Cat
December 6th, 2006 at 9:38 am

I think Jobu is THE MAN.

Education, Hard Work, and Common Sense.

The cat’s meow!!!

Bartender: Give Jobu that refill! (and pass me across some fishy treats if you got ‘em…)

S_t_C
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Scooby Done Did It
December 6th, 2006 at 10:45 am

Ruh-roh, sounds like fijirobe is in trouble and in denial! Spill it, Fiji, what’s the damage you’re looking at? (Casey isn’t giving us any details, so I’m getting bored.)

yneone: you crazy.
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Nigel Swaby
December 6th, 2006 at 10:51 am

Jobu,

That’s a good explanation of your strategy. I contend that it was probably easier to put 20% down 10 to 20 years ago because of lower prices. Obviously that’s the safest strategy for a long term hold. I’ve also read The Millionaire Next Door and its sequel The Millionaire Mind. They really opened my mind to a lot of financial concepts.

I’ve been scouting some real estate for investment purposes recently. You can read my thoughts on real estate investing if you’re interested.

Nigel
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SidFinster
December 7th, 2006 at 12:43 am

Jobu’s story is a common one. I know an older fellow, a highschool dropout, who managed a convenience store. The old guy saved up from Day One, and started buying rental properties, inexpensive stuff, but all with positive cash-flow, all near home.

Pretty soon he was a regional manager for several convenience stores, and owned a small real estate empire all of it free and clear of debt. He continued to work at his J-O-B while extending his holdings, only buying undervalued, cash-flowing properties. He offered fair rental terms, screened tenants carefully, and did his own maintenance.`

When the owner of the convenience stores died, the heirs sued my acquaintance. By now, he was worth substantially more than the owner, so the heirs were sure he had to have embezzled the money somehow.

During pre-trial, my acquaintance produced every check he had ever written since he first got a checking account in 1964. He accounted for every receipt for every expenditure, and showed where every penny that ever came into his hands came from.

The heirs dropped that suit right quick.

Is this guy the anti-Casey or what?
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Jobu
December 7th, 2006 at 7:13 am

Nigel,
I wouldn’t call it easier necessarily. It all depends on how much you have saved and what price range you are looking at. I do agree that the dollar amounts are much higher in my areas now. But hey, you buy what you can afford (unless of course you are Casey).

I probably could not buy these SPECIFIC properties today. They won’t cash flow positive at today’s prices. I have a preconstruction property scheduled to complete in January. I have a partner on that one to lower my share of the downpayment and lessen the risk. That property went under contract almost 2 years ago and I could not/would not buy that one at today’s prices either. If I was looking to buy anything else (which I am not currently but I always have an eye on certain markets), I would still put 20% down. If I found a property and could not afford it myself, I would work with my partner again.

Yneone,
Feel free to skip over my posts if you deem them too long.

Bartender, Jobu needs a refill. And shoot Sputnik some fishy treats.