I’ll be in Salt Lake City for a couple of days with my money partner - making connections, looking at sweet deals, and taking care of other stuff.
In the mean time, I thought you might enjoy this “Don’t be a Dick” promo video for Real Estate Investors TV. Even though the initial sponsorship thing didn’t quite work out with Duane, I still think they have a pretty sweet offering. They give the real estate gurus a run for their money.
Remember, don’t be a Dick.
Get educated… But don’t spend too much.
Put your money to work for you… But be careful with leverage.
Do some sweet deals… But do it legally.
Have fun… But don’t get too emotional.
104 Comments
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and dont buy 8 houses in 8 months your first time
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Soon enough, their slogan is going to be changed to “Don’t be a Casey.” BTW, any purported “investor school” that puts out material like the above video, with cheesy puns and double entendres, is preying on gullible dopes with a 3rd-grade sense of humor (Randy? Dick? Blow your wad? Ka-Bling?)
Yeah, sounds like a great place. Sheesh…
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Let’s see…
“Don’t be a dick… get educated … put money to work for you … etc.”
In other words, just do the OPPOSITE of everything you did!
SN
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You have got to stop saying sweet. Your sweet deals put you two milllion in debt. You have no money and are facing many years behind bars. You need to post pics of job applications. Post them daily, please!
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So Casey, What kind of sweet deals can you get in Utah that you can’t get anywhere else? What is the difference in the market there that tells you things are doing better than the rest of the nation? Do you plan to short housing and make money off the move?
Secondly, why would someone gamble their money on you and with you when you have a sad proven record in real estate. At this point, you are a liability with no skills in the market. Anyone could easily foreclose on a house…you manage to do it 2+ times! So are you the guru with the keen eye? Is it because you love using those buzz words to b.s. your way through this all? I don’t see that as a benefit to making money.
So think this money partner is a bullcrap call, you losing money in Utah, California, and Texas but you are making major bucks in a specific area of Utah, because you have that keen eye. You can’t even manage your own properties or get rid of them at minimal loss!
I think maybe someone is feeling sorry for you or you both are pulling each other peckers for pure adult man-man love! There is no other explaination. It’s obvious that you hide behind your Christian values because your actions are very suspicious and unlike being a Christian in the first place.
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And why are you lying and making us click on ad links so you can make money!
Damn, dude…..Can we actually see an honest bone in your body?
Remember, God doesn’t give advice, he gives commands. So live by them!!
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Uh, Casey…
You are a dick.
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Hey!
Great advice, Casey! What happened to you??? I guess it is more of “Do as I say, Not as I do”.
Rei TV? $400 dollars a year? Great! (Or should I say “SWEET!”). WTF do you get for that? Buying under valued property. . . ? Ummm like foreclosures? Sweet.
Are you getting “randy” these days?
Good luck in Salt Lake City.
BTW, You looking for work yet?
Dick (Please don’t be like me)
PS Rob BBB How are your “lawsuits”?? I still think you are a bigger idiot than Casey.
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Don’t be a dick?
Oh please? If you got a job and started repaying ANYTHING, then maybe.
Until then, pot.kettle.black
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Hi Casey,
I am hoping you’ll write a post explaining how you reconcile your activities with your Christian faith. Specifically, how you do justify not working, borrowing money that you don’t have a means to repay, and screwing your Utah buyers out of the house they bought from you (saving you from another foreclosure).
I know of no demonination of Christianity or any other religion that would tolerate this kind of behavior. How does yours?
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If you’re trying to win Duane back, I would suggest you pick a better video–thinly veiled sexual innuendos and obsessive references to ‘bling’ are not the way to win potential customers. Show a video with some actual useful advice.
On that note, and this is a serious question, why is everyone so obsessed with flipping RE? It seems to me that if you wanted fast money you would go with day trading, while if you just wanted a good retirement fund you could use a well-managed portfolio or allow the house to appreciate on its own over several years, without flipping it. It also seems like flipping–what with its seminars, courses, construction and remodelin, and the time searching for houses–requires a larger investment in time AND money than day trading, while having the same outcome. So, why do people choose RE over the stock market (note: I am a high school student, so I have not really done any investing).
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That ad sure makes flipping sound easy!
The fictional “Randy” invests perhaps $300k and earns $22k in return. I wonder how long that took?
Consider that in December, I suggested you buy shares in a mining company named NXG that had just broken out of a mid-term descending triangle formation. If you had put that $300k into NXG at about $3 when I brought it to your attention, you’d now have approximately $330k… and that’s AFTER the atrocious week the markets just had. At it’s peak on Feb 26, your NXG investment was worth $392k.
In my book, that’s a pretty good return for three months!
In February, I suggested you buy shares in another mine named NTO that had ALSO just broken out of a mid-term descending triangle. Had you invested, you’d be up about 8% right now. At its peak (before this terrible week), your $300k was $4.57 - up about 67 cents per share from the breakout price. You’d have made $51k in less than a month.
Sorry Casey. I don’t want to be a Randy OR a Dick… or a Casey for that matter. I’ve been finding these undervalued gold stocks busting out of bullish formations for years now and can continue finding them. After all… the long term prospects for precious metals and commodities are every bit as bullish as the long-term prospects for this unbacked paper we call money are bearish.
Unfortunately, we can’t say that about housing. It has already had its phenomenal secular run. There’s no reason to believe housing won’t revert eventually to its 100 year inflation adjusted (year 2000 dollars) average of about $110,000 per house. That means two or three more years of sharply falling home prices are on their way. Even a flipper with skills will have a hard time breaking even in an environment like that.
So good luck to you with your real estate. And don’t be so quick to blow off the stock market.
NXG and especially NTO remain excellent long-term buys right now.
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You’re losing your mind, and you audience.
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Be careful with leverage??? Aren’t you in the process of setting up a shell corporation so that you can borrow 10 million dollar for an apt building that you’ll have no idea how to run.
First thing you need to do is get out of the advice business.
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so, to sum it up, be everything you weren’t during the past three years. Don’t be a Dick. Don’t be Casey.
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Hey Casey,
I would be suspicious of your money partner - what are you bringing to the table ? What is he expecting from you ?
Are you planning to do sweet deals to pay back your lenders ? You read that ‘Money” article right - I think it is pretty well spot on.
Please let me know what it is that you will be doing in these sweet deals. Are you looking at commercial or residential ?
Again - what are you bringing to the table and what is your partner expecting from you - please share this so we can learn from you….
Loads O Money
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For anyone who joined RE TV.
What is your opinion of RE TV?
It seems expensive. -
Nice, Casey.
So you have apparently turned your back on all the damage you have done, no remorse, no attempt at any mitigation (fixing your crap) and are on to your next loser deal.Too bad you have ignored all the good advice you have been given here - you are destined to keep repeating the same mistakes since apparently you think you did okay.
What a looser you are - too bad you don’t get it!!
Get a Job!!!
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Casy, this is kind of boring. Write more about what you’re doing, how things are going now that your houses have foreclosed.
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May I ask what are the qualifications of “your partners and associates”? What do they do professionally? How many real estate properties do they own (units)? How long have they been doing it (in years)? What’s the size of investment you guys are looking at?
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Casey’s master plan through all of this is to become a guru himself, touring the country and giving seminars. “I was a fool, but now I’ve learned from my mistakes and want to teach you how to succeed where I failed,” is what he’ll say.
This entry is a test drive. I’d like to believe that no one would ever take his pablum seriously, and it’s true here; the vast majority of posters on the blog quickly slip into loathing even if they’re supporters.
However, by the time Guru Casey appears, the blog will be long gone. He’ll mention it, “Casey Serin, writer of IAFF,” but it will have been taken down for some reason. Attendees of his seminars will see a carefully varnished Casey, for a controlled amount of time with controlled words.
Put him up on stage with a well-pruned script and he’ll sound pretty good! Make sure no one spends more than a few seconds talking to him in person, and he won’t be able to blow his cover by saying something idiotic.
Why now that I think about it, ol’ Dubya tanked every business he was a part of too! The sky’s the limit, although hopefully jail will intervene.
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Casey,
Since you burned your bridges with Mortage Lenders, it’s sweet that you found other suckers,..uhhmmm…partners..yeah, partners to front money to buy more houses for flipping.
I hear there are sweet deals in Miami, San Diego and Phoenix that are ready to be picked! Those rest of those flippers don’t know the truth of the state of the housing market….but you do..the mighty Casey will strike again!!
Go, Casey, Go!
Anti-spam word: SWEET
(Damn I lucky to get that one!)
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I would imagine the Violent Femmes would be upset if they knew some sleazy outfit was using their music to peddle financial suicide to suckers.
Did they get permission to use a clip of ‘Blister in the Sun?’
I hope they’re sued and taken to the cleaners.
Please, please stop using the word SWEET.
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FED SAYS: NO MORE NON-TRADITIONAL MORTGAGES EFFECTIVE TODAY
QuoteWell, the party IS OVER and will get worse, 20% of potential borrowers will no longer be able to get loans, and house price depreciation will excellerate….
No More Interest Only, 2/28, no-doc, 100%LTV, 3-2-1 and 1-0 buydowns, GPMs etc…
————
[link to users2.wsj.com]
Subprime Troubles Grow
Wall Street Journal
3/3/07By JAMES R. HAGERTY, DAMIAN PALETTA and LINGLING WEI
March 3, 2007; Page A3“Federal bank regulators announced a crackdown on loose lending standards on subprime home mortgages as two major lenders struggled to cope with losses and regulatory problems”
New Century Financial Corp., one of the nation’s largest subprime lenders, announced that it has been informed of a federal criminal inquiry into its accounting and trading in its securities. New Century also said that a failure to obtain waivers from lenders or find new funding sources could prompt its auditors to warn of “substantial doubt” over its ability to remain in business.
Another big lender, Fremont General Corp., said it plans to stop making subprime residential loans and is in talks with various parties aimed at selling that business. Subprime loans are those for people with weak credit records or high debt in relation to income.
A proposed policy statement released Friday by regulators comes after rising defaults already have rattled investors and forced subprime lenders to be more cautious in extending credit. “There seems to be a growing realization that not everybody can buy a house today,” said Scott Stern, chief executive of Lenders One, a St. Louis-based cooperative for mortgage-banking firms. Lenders will have to tell some borrowers to save for a down payment, he said…
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Why do you have to be a hater, Casey?
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@5. What Another Excuse
Hehe…you know how pathetic it is to lose money on California real estate? But I guess Casey is ahead of his time.
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Casey, the gig is up in UTard. It’s had its runup and is now in a bubble. Once again, you’re trying to buy at peak prices.
If you learned anything from the gurus, you should know that cap rates out of of control in UTard.
A $250,000 house rents for $1000/mo and the mortgage and other costs would be around $2000/mo. SWEET!!!
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YOU are not a christian.
I am more of a christian than you are, and I call myself an atheist. -
So you’ve already turned your back on a major lesson you supposedly already learned: do local deals.
I imagine as soon as some lunatic with a wallet suggested flying you anywhere on his dime, you felt like such a big shot you were willing to throw your hard-won lesson out the window.
Why Utah?? Because polygamists need big houses?
You are being so secretive about these so-called partners. Why? Aren’t you all about keeping it organic? Why not let them post an explanation of what they’re doing and why they chose you, of all people, to help them do it.
We’d really, genuinely, sincerely like to know why would they go into partnership with someone who can’t even afford to get to the airport on his own, much less buy his own $59 ticket on Southwest. Are they going to keep paying your way, since you won’t have any disposable income for a long, long time?
If this is a partnership, and you’re not being hired, how do they plan to split any profits with you (assuming there ever are any)? You’re not investing anything.
Please answer our questions and skip the preaching and advising. It’s really ridiculous, coming from you. And while you’re at it, skip the nonsense about juicing, personality tests and stupid double-entendre ads (I wouldn’t click on something so tasteless anyway!).
I for one would approve if you turned off commenting when your “partner” posts, if they’re not open to it, assuming we really get the full story, not generalities. I am that curious.
It’s just classic how you detailed what you ate in that diary, but glossed over anything to do with these cockamamie partners. What are you afraid of?
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That video is bush league squared.
I wouldn’t buy a juicer from that company.
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There’s a new Casy born every minute.
Casey, you must learn to affiliate with quality people and organizations, not the shysters any more.
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PS. Just to be clear, no quality persons or organizations will affiliate with you at this point. You’re going to have to change for that to happen.
But there is time for that at your age. Imagine if you had done this nonsense at age 54 instead of 24.
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Casey, like 26. Dick, I agree that you need to stop being a hater.
What’s wrong to have a last name Dick?
I think it’s better than Serin.“Remember, don’t be a Dick.”
I don’t agree with you.
“Get educated… But don’t spend too much.”
No really? Sorry for the sarcasm.
“Put your money to work for you… But be careful with leverage.”
It’s such a general thing you are talking about.
It’s like saying wipe after taking a dump.Put the money to work for me?
Dude, I thought you stopped drinking RK koolaid.Nah, you have to work for the money.
After reaching some financial stability, you can spare some % of your money to make it try to work for you by diversifying your investment portfolio.
But ofcourse, you need to know your shat.Why didn’t you go to college?
If you at least had a degree, you would’ve had a better option right now when getting a job.
You got suckered into get rich quick schemes.
You’ve always been into this.
You’re 24 and married. Shouldn’t you be stepping out of this childish and dysfunctional schemes?
You know… in college, you not only receive education, you mature.“Do some sweet deals… But do it legally.”
Yeah, I think this is a good advice to avoid going to jail.
“Have fun… But don’t get too emotional.”
What if it’s not that fun?
Just be a man and work hard. -
and…………… while your waiting for all those “Sweet Deals” to come along just keep right on drinking the juice.
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boooorring…
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These new partners are going to be as much trouble in the end as PRREBitch.
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I’m not sure why you keep this agony going, chasing pie in the sky. Your only option is bankruptcy. Sure, some of the creditors may challenge your claim based on your admitted mortgage fraud, but you may get lucky and nobody shows up. Get it over with, file!
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Forget about CashCall - they are loosers.
What you need is more sweet deals. They will fix everything and you can sit back and drink lots of Jamba Juice.
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Why not be a Dick? The narrator tells us that Dick has a good job and earns a good salary. So why shouldn’t he enjoy a little of that hard-earned income? What’s the point of working, or flipping real estate for that matter, if you can’t treat yourself once in a while?
You’re quick to suggest that we “don’t be a Dick”, but you don’t actually recommend that we “be a Randy”. Could that be because Randy also has steady employment?
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Late night eh?
I’m asking again the following - and unless you answer, many of us will believe you are up to your previous “shady” habits - only this time, instead of using a bank you are using a “money” partner - which means “what” exactly?
First, you’ve had more than a poor track record in actually making money (meaning revenue) in real estate. So, what is it you are bringing to the table? What are your tangible skills?
Next: what kind of a “partnership” agreement has been written and signed? You’ve signed many agreements over the past few months without the benefit of an attorney. Of course, after signing, you’ve found you’ve made a mistake. So what gives here? What makes this different?
Once again, we pose the following questions:
Who is/are the partner(s)?
What, if anything is the nature of the partnership agreement?
What, if anything, have you signed?
Did you have an attorney represent your interests?
What are your responsibilities and duties as a “partner”?
What are the responsibilities and duties of your partner(s)?
What is the nature of this partnership venture? (i.e. business plan)
How does this partnership venture intend to generate REVENUE?
How much of the REVENUE will your partner(s) see? (Afterall, you say this is the “money” partner.)
How much of the REVENUE will you see?
When will you start seeing the REVENUE results of your partnership?
Will the REVENUE results of the partnership allow you to:
* make your living expenses every month (i.e., rent, utilities, food, gas, insurance, etc.)
* make payments on G’s credit cards?
* make payments on your credit cards?
* make payments to cash call?
* meet the deadline for your “personal” loans of $5,000 and $22,000 that are coming due in the next couple of months?This post and yesterday’s offer any real “educational” vale to the readers and followers of your blog. Answering the above questions are helpful and valuable to your readers.
Let’s see the answers.
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@12 Hoovooloo:
That’s a good question. I think the main reasons are:
1. Real estate has “always gone up” long term. Not always at the rates like we’ve seen from 2002-2006, but almost always in a upward manner. Certain areas had decreases at certain times. Nobody thought it would ever go down.
2. Massive media and social pressure. A lot of it is based on slogans rather than sound investment strategy. Housing prices always go up, they’re not making anymore land, buy now or you’ll be priced out of the market forever, renting is just throwing your money away and so forth.
3. Leveraging money. If you read the “guru guides” one of their biggest points seems to be how you can use other people’s money to make money for yourself. None of these flippers or speculators are putting the traditional 20% down. They’re financing 100% of the loan value. The example usually given by the gurus is: Buy a 300K house with zero down. Sell some time in the future for 350K. Assume you paid 5K in mortgage, fees etc. You “make” 900% on your investment. With a standard 20% down(60K) plus 5K in fees you only make 75% on your investment. The logical flaws in this are obvious. It appeals to those without any basic financial skills though.
To make the same large profits in the stock marker would require a much larger initial investment. What speculators and flippers were effectively doing was buying their houses on margin.
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Money partner, to think at one time you yourself could have been considered a money partner. You went down in flames, I’m curious to know what this partner has done to protect himself. Maybe he is going to piggyback off your publicity just long enough in hopes of some person wanting to do a good deal with you and he will then just take it since you probably don’t and won’t have anything in writing. Are you sure he has money, it could be like this; I have 5 million in liquid funds to spend, I have no proof of these funds but I think I can convince you I do just long enough to entertain myself…..
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“I’ll be in Salt Lake City for a couple of days with my money partner - making connections, looking at sweet deals, and taking care of other stuff.”
Most people call day like those “weekends.”
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From another thread:
So, the Cash Call loan by itself doubles essentially every nine months. That means your payments quickly grow to over $1000 per month. Ouch. That means by August it’ll be over 20K, May of next year 40K+ and in 27 months (not all that long a time even for a 24 year old) it will be 80k+. Now that’s what I call leverage baby. It’s a beautiful thing…. -
Here’s an email I just got from one of my money sources. (Identities have been protected):
From: JM [mailto:JM***@****.com]
Sent: Sunday, March 04, 2007 11:26 AM
Subject: Fremont closing doors
Importance: HighEveryone,
It is with great regret that I must inform you that Fremont Investment and Loan will cease funding loans and doing business effective immediately.At 12:35 (pst) Saturday, Fremont General received notice from the FDIC that they are not permitting any more loans to be funded by Fremont. In short, our funding available was terminated by the Federal Home bank.
The suddenness of the change and the shift from our communication literally less then 24 hours previously simply perplexes me. However, this simply validates the volatility on our business.
Any files that are pending or have been submitted will be returned to you.
I will communicate any other information that I receive as I get it…
I want to Thank you for your business, and hope to be able to continue our relationship in some capacity in the near future.
Fremont Investment & Loan
J***** – Outside Account Executive
Cell: ****
email:
http://Hey, and everyone is invited to come and help me get my blog off the ground. It’s at www.LoanSnake.com - come and post your thoughts about loans that were stupid to make or get in the first place!
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K*** ! Thats all you are Casey. Come on, go out, get a job, pay your bills, return the banks calls and why not find some tenants for those properties? They’ll help pay the loans and might even get those “nasty” banks off your back for a while!
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Have fun in Utah, and fill us in on the details.
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@ 12 HOOVOOLOO:
“It seems to me that if you wanted fast money you would go with day trading”
Day trading is REALLY hard! It is one of the most difficult STRESSFUL occupations you could ever have as an entrepreneur! But if you are in High School I would suggest GO FOR IT!!!. You can specialize in several areas outside of college including stock, futures, currency trading etc, which you can go to work for a firm and make ALOT OF MONEY, depending on your performance experience etc. You get a high paying salary plus a commission. But it takes some time.
I started too late - at 24. If only I could go back and do it all over again. My problem was that at that time I was taught there was really only “one way” to do things: “Go to college, get good grades so you can get a job with a good company”. Nobody ever taught me about alternative options and careers so I just followed the time tested way. During my senior year in college I followed a “alternative career” that was related to my major (International Business). So that was a plus, but still.
With technical analysis and fundamental analysis you could easily spend 4 years learning about day trading in a University. But I don’t know of any University that offers a major. Instead they still teach the same old “tried and tested” old fashioned majors like “business”. Why don’t they just get with the times!!! ARRR!! It makes me so mad! If I had the chance to major in day trading I would have done it.
Day trading is extremely difficult. 99% of day traders fail. The 1% that make it most usually end up working for a firm trading other peoples money.
Check out forex.com and other sites under careers. You can even give them a call and ask to talk to a trader.
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@ 42 MISTER B
That was a VERY good explanation. I could not agree with you more! You would not belive the number of sheeples I’ve met that are so affected by the slogans and what “everyone else is doing” that they STILL belive the Real Estate market is a hot investment.
“I’m looking at this deal right now; cash back at close and $900/month passive income.”
Right. You and everyone else. Keep diluting yourselves.
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Hum, Utah, where the condition of that wrap is questionable.. Where the purchasers are having problems with payments late or not occurring.. hum..
Can you say Subpoena? Don’t appear, they’ll have a warrant..
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How to beat bankruptcy:
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Casey,
They made a movie about you! You should get a royalty payment, or something. Sweet deal!! -
I guess there’s a really bright shiny object in Utah.
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I have said this in one form or another - ever since I was 14 years old.
Once all the followers follow along and jump on board its over.
In the investing world it goes something like “once it hits the front page its too late”. It is the same way with everything. Look at fashion. Something “new” comes out. Everyone things it is “cool”. So they all start dressing the same telling each other etc. Now everyone has on the same kinds of clothes. The “original” “unique” style is not cool anymore and something “new” comes up and the trend repeats itself in a similar form.
It is the exact same way in the world of investing. Real Estate is played out. It is done.
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Casey, do you have any mental problems you are not telling us about? From what I understand, Pride Industries only hires retards. Please let us know.
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Lawsuits targeting mortgage schemes
http://www.azcentral.com/news/.....suits.html -
Seriously, dude, real estate is DEAD for the next 5 years or something. Do you really think there are profit opportunities?
Get a clue, you are going into foreclosure on a ton of houses. Do you have any idea how many other knuckleheads like yourself are over-extended and will be going through the same thing?
This thing is FAR from over. Do yourself a favor and get your head out of your wherever and out of real estate for a while and into a regular job.
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I don’t believe any of this. Utah is where the wrap is and you have not been making the payments that they were giving you. The only thing you are teaching people is how to swindle. Scheming, lying, cheating on loas and altering posts is what you are about. Why are you hating my posts? I’m moving to a blog where I can post uncensored. I have saved all my posts in their full content.
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What a great video.
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Did they break you kneecaps in Utah, Casey? The Mormon mafia can be pretty bad, I hear.
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hahaha Randy is another word for “Hornier than Ron Jeremy” in Australia… haha..
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Where are the moderators you claimed are helping you out? Posts are trickling in and you actually let a nigerian spam post go through LOL
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This looks like a sweet opportunity, go for it, and forget all the haters who don’t like success. You can only learn from mistakes.
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I don’t think you’d be going to Utah just for the heck of it. It sounds like something’s brewing with your property there, and the problems you’re facing with the renters/buyers. Are you going there for legal reasons? Is that why you’re going with someone else? Is the other person representing you, or are they being a bodyguard to protect you when the Utah residents go balistic about their deal gone raw?
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Hey Casey, Did you end up finding anything? Let us know what you look at.
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From the Sonoran News:
How Casey Serin hurts all of us
Casey Serin is young, hopeless, clueless, irresponsible, ill-intentioned…he committed fraud. He blogged about his foreclosure auction and his excitement at witnessing it. He extols the virtue of drinking fresh juice to cure his foreclosure woes. Why am I wasting both your time and mine with this? His actions (or actual inactions) impact each and every homeowner or future home buyer in this country. How can I make such a bold statement? Stay with me and I’ll explain.
Casey Serin obtained a $330,000 mortgage on the aforementioned property. It was offered at auction for $216,000 opening bid. No one purchased this property. Countrywide was the lender (at least on the first). Total loss: well at this point that is still a bit up in the air but lets use the purchase price less the opening bid =$114,000. A 34% loss. Casey received $50,000 cash back at close. Casey also signed a $50,000 unsecured promissory note on this property in order to push through a short-sale which never materialized. He is unsure is he needs to repay this.
Let’s see if we can makes some sense of this. Casey secures a mortgage for $330,000 and pockets $50,000. He defaults on the mortgages. The property is foreclosed. Estimated value at foreclosure: $216,000. Countrywide now owns a $216,000 house which they paid $330,000 for in Sacramento which needs repairs (based on photos posted by young Casey). Casey is $50,000 richer. OK, he is not $50,000 richer at this very moment because he is a train-wreck and made a huge mess out of this but if he had any common sense he would actually be $50,000 richer.
Countrywide is experiencing an almost 20% delinquency rate on sub-prime loans. A record number of other sub-prime lenders are shuttering their businesses because they are being choked by delinquencies. Are the lenders to blame for this situation? In part, yes. But so are the appraisers, real estate agents, loan officers, and even the purchasers. Many are culpable.
The result will be tighter lending practices to prevent this type of future fraud and abuse. Today the result is the impact in property values, the unknowing homeowners who now find themselves owing far more then their home is worth because people like Casey Serin falsely inflated the value of a neighborhood only to turn around and crush the value a few short months later.
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Casey:
Let us know how things are going in Utah.
Remember Mormons don’t drink (you don’t want to kill a deal over this)…
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Ignore CashCall - they are loosers.
All you need are more sweet deals with lots of cashback at closing to put more money in your pockets.
The more money in your pockets, the less you need to work.
Sweet
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Wow..you made USA Today again. Just weeks to go until you’re out of all the properties, and are stuck with nothing but debt….and the prospect of prison hanging over your head for the next 5 years. Really don’t understand what attributes you’re bringing to the table that could warrant anyone with half a brain wanting to partner with you.
BK (and the prospect of a fraud indictment) seems your only path towards ever having a future in real estate…and that is after the BK clears from your record in 7-10 years, AND you’ve resolved things with the IRS and paid your delinquent property taxes. That short list of items in and of themselves are almost an insurmountable barrier to entry….
Still waiting for a better description of the deals that have you so positive right now…..
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I cant’ believe how detached from reality you’ve become.
Anti Spam word: awesome
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Casey, why would you insult your readers by posting that crap from smith williamson dude?
http://blog.supersurge.com/lat.....nking.html
I’m done, this is my last visit here!
You are such a scam yourself.
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“Don’t pull a Casey Serin.” Coming addition to the American lexicon.
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Anybody else notice the “tip jar” on the right hand side of this page?
Apparently Casey’s ’sweet deals’ must be lacking in order to cause him to resort to begging.
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the guy at www.my334442debt.com seems to have a much better clue about the reality of being in debt than you. You could learn alot about how you should be mananging your situation by reading his blog.
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How about a business cash flow diagram like your history. Don’t forget to include missed mortgage payments as liabilities.
And I ask again why are these guys doing the lecture circuit “How to Make Money” if they are so good at real estate. Seems to me they would be better off making money at real estate flipping or just enjoying the good life. What would motivate them to create course in making money.
I believe there is more sure money in selling the courses than in real estate. Think about it.
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Casey:
I was just talking to some other Sac Realtors and we have decided that after you form BBC (the Blue Ball Corp.) that you can get even more money selling stock than you can get from the sweet corporate credit. If you make a cool stock cirtificate (say you in the funny hat sitting on the blue ball on the roof of a house) lots of people will “invest” just to get the stock cirt. You can also have a big stockholders party where you talk to the investors kind of like Warren Buffett does every year…
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Thanks for putting a link to new photos.”That’s what happens when you buy sight-unseen…” You have got to be kidding me. That is a very basic rule of real estate investing: due dilligence.
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@79
“I believe there is more sure money in selling the courses than in real estate. Think about it.”
That’s the truest thing anyone around here has said in a while.
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Wow, once Burdett, Muncy, and Guadalajara either short sell or foreclose, you will no longer be facing foreclosure. You’ll have to change the name of your site…that is, until your next sweet deal goes down in flames.
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Casey,
I just thought I’d let you know what your failures at flipping is doing to the sub prime market.
http://biz.yahoo.com/ap/070305......html?.v=3
It’s not just you but you are the poster child.
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Casey,
How goes the sweet deals in Utah?
Can’t wait to hear all about your new ventures.MLM? It’s all the rage you know and I sure hope you can do better in that industry than real estate…..wait….
all the email address you have been collecting…now it all makes sense!
you go girl!
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In all the people are riding Casey for not doing due dilligence in his buying, the loans people did equally bad investigation of Casey.
Sure he might not have put correct info on the forms but they have to expect that being subprime and marginal lenders. I can’t believe the rates these lenders put out because they can’t really expect anyone to do anything but be driven to bankruptcy by them. So I really have no idea how this is supposed to work.
Let the buyer beware applies equally to the Casey’s of the world and the lenders. They feed off of each other.
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Lost Cause:
what link to new photos are you talking about?
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@ 42 MISTER B:
Thank you, youe explination was very clear, and kind of upsetting that so many people would risk so much for such a… poor reason@51. Michael Cooke:
Actually, my dad wants us kids to start an investment company, since my brother is good at PR/politics and I’m really good at math and analysis (MIT ‘11!). On that note, since you seem to have some experience with this, how successful is day trading as a hobby/side job? Since I enjoy math anyway, could it be a hobby? Or is the time investment too large? Anyway, thanks for the advice! -
@81
“I believe there is more sure money in selling the courses than in real estate. Think about it.”
“That’s the truest thing anyone around here has said in a while.”
just like the gold rush. the smart money decided it would be better to just sell them the pans.
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If 2.2 Million in debt is SWEET
in your mind, what would bitter be then? -
THIS IS A FAKE BLOG, CASEY ONLY WANT TO HAVE “POSITIVE” COMMENTS, HE REFUSE TO POST ANY NEGATIVE COMMENTS , INCLUDING THIS ONE.
CASEY IS A COMMUNIST~~~
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“I’ll be in Salt Lake City for a couple of days with my money partner - making connections,”
Sounds like you’re fixin’ to have a very romantic weekend, kid.
I wondered if you were going to stoop,(kneel?), to that level, but I s’pose the CashCall Collections department might be enough to make any hobbit bob-4-it.
Make a million, kid.
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I for one am getting tired of Caseys claims to Christianity. He is as much of a Christian as he is a vegan. To Casey, Christianity is just another way to get something for nothing. We all see how he follows get-rich-quick schemes and has bought into whatever fad blows in with the wind. We all know for a fact that Casey is unwilling to make sacrifices, and the truth is that a life of Christianity begins with a sacrifice. The sacrifice is repenting of personal sin and placing faith in Christ. Casey is no more willing to turn from sin (ie. lying on loans, not working, not repaying creditors, etc.) than he is to mow the grass at one of his properties. He, like many others these days, has adopted a sort off psuedo-Christianity which, in typical Casey fashion, takes the good things about Christianity as seen fit, then discards the aspects that seem unpleasant (ie. honesty, integrity, work ethic, etc.). I wish this were not true, but Casey is a shame to the name of Christ. It would be better if he left all reference to Christianity out of the sordid details of his life.
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Avalanche of Lawsuits
Lawsuits are springing up everywhere. For a typical example, please consider the March 4 article in Arizona Republic, “Lawsuits Targeting Mortgage Schemes”:
“Dozens of civil lawsuits alleging the gamut of mortgage fraud, from cash-back deals to lying about income on loan documents, have been filed against Valley firms and individuals during the past few months.
“Fraud experts and regulators say the lawsuits are only the beginning as the fallout from mortgage fraud starts to hit the Valley. Cash-back scams involve getting a mortgage for more than a home is worth and pocketing the extra money. The deals inflate home values and leave lenders with losses from loans worth far more than the house itself.“‘Banks are going to force mortgage brokers to buy back bad loans, and mortgage brokers don’t have the money, so they are going to go under,’ said Richard Hagar, a national mortgage and real estate fraud expert with American Home Appraisals, based in the Seattle area. ‘This is the beginning of the wave of lawsuits, lost licenses, and criminal indictments in Arizona.’
“Among the lawsuits:
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Phoenix-based Biltmore Bank is suing Security Title of Arizona and a group of others over a cash-back deal. The suit alleges the group worked together to get Biltmore to fund a $1.3 million loan for a home valued at $800,000 and then pocketed the extra cash…
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A Lehman Brothers investment trust in New York and Aurora Loan Services in Denver are suing the parent company of First National Bank of Arizona over 38 home loans. They say the bank misrepresented the values of properties, and the income, debt and employment of some of the borrowers. Lehman and Aurora bought the loans as investments and want the bank to buy them back
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San Francisco-based Transnational Financial Network is suing Phoenix-based Lending House Financial and a Scottsdale investor who purchased 22 Valley homes within days of each other last spring. Transnational funded loans worth nearly $2 million on seven of the homes but says it wasn’t notified the investor was buying multiple properties and his real debt level wasn’t disclosed on mortgage documents…
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Tucson-based mortgage lender First Magnus is suing its former Valley loan officer, Tyson Rondeau, for fraud and negligence. First Magnus claims bad loans are costing it nearly $1 million.”Class Action Against NovaStar
FindLaw is reporting, “Dreier LLP Files Class Action Lawsuit Against NovaStar Financial Inc.”:
“Dreier LLP today announced that a class action lawsuit was commenced in the United States District Court for the Western District of Missouri, on behalf of purchasers of the common stock and/or call options and/or sellers of put options of NovaStar Financial Inc. (‘NovaStar’ or the ‘Company’) during the period May 4, 2006 through Feb. 20, 2007, inclusive (the ‘Class Period’). The complaint alleges violations of the federal securities laws, including Section 10(b) of the Securities Exchange Act…
“The Complaint alleges, among other things, that: (i) NovaStar’s reported financial results during the Class Period were falsely inflated; (ii) Defendants misrepresented the quality of the Company’s mortgage loan portfolio and its ability to pay dividends; (iii) Defendants failed to disclose that the Company’s reported financial results and projections were based upon faulty assumptions because of inadequate internal controls; and (iv) Defendants failed to disclose that the Company lacked a reasonable basis to make projections regarding its ability to maintain its status as a REIT. The Complaint further alleges that, as a result of these false statements and omissions, NovaStar’s securities traded at artificially inflated or distorted prices. On Feb. 20, 2007, after the close of trading, NovaStar shocked the market by announcing disappointing fourth-quarter and year-end 2006 financial results and warning that the Company expected to make very little, if any, REIT taxable income for the next four years. In reaction to this news, the price of the Company’s stock declined more than 30% on extremely high trading volume. The Plaintiff seeks to recover damages on behalf of all members of the proposed Class.”
~~~~~~~~~~~~~~~~~Special~~~~~~~~~~~~~~
Our readers could have turned $5000 into $1 million in just over 5 years“Each week, I tell my readers to make just 1 investment buy. And last year, not one pick lost value! Just 2 in 2004, 4 in 2003! It’s no wonder our readers could have turned $5,000 into $1 million in just over 5 years! Read on to find out how!”
- Steve Sarnoff, editor, Options Hotline
http://www1.youreletters.com/t...../817117/0/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Class Action Against New Century Financial
MarketWatch is reporting, “Brower Piven Announces Class Action Lawsuit Against New Century Financial Corp.”:
“The law firm of Brower Piven, A Professional Corporation, today announced that a securities class action was commenced on behalf of shareholders who purchased or otherwise acquired the common stock of New Century Financial Corporation between April 7, 2006, and Feb, 7, 2007, inclusive (the ‘Class Period’)…
“The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Company’s securities.”
$77 Billion in Claims in New Orleans
The Times-Picayune is reporting, “N.O. Asks Whopping $77 Billion in Claim to Corps”:
“Submitting a claim for a staggering $77 billion, the city of New Orleans joined tens of thousands of would-be plaintiffs who rushed to beat a Thursday deadline to alert the Army Corps of Engineers that they may sue for losses resulting from the levee breaches after Hurricane Katrina.
“Also joining the queue were Entergy New Orleans, the city’s bankrupt electrical utility, which is seeking $655 million, and the New Orleans Sewerage & Water Board, which put in a claim of about $460 million, spokesmen for the agencies said.
“While they are likely to be among the largest filed, the three claims became part of an avalanche of paperwork that poured into the corps’ Leake Avenue headquarters as Thursday’s 11:59 p.m. deadline approached, corps personnel said.
“By the time of the morning commute, cars already had clogged the two-lane River Road and miles of connecting arteries. The miles-long traffic jam got so thick that the federal agency established satellite pickup points on Carrollton Avenue and Magazine Street.
“‘We took people out of offices to help out: engineers, lawyers, secretaries, you name it,’ spokesman Chris Accardo said. ‘At one time, we might have had 50 people out there.’
“Hours before the cutoff time, enough bags and boxes of claim forms had arrived to fill an 8-by-10-foot room, corps spokeswoman Kathy Gibbs said.”
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A 12-point list of lawsuit items:
Litigation Items
1.
Buyers suing developers for nonperformance.
2.
Developers suing speculators for flipping properties in violation of contracts.
3.
Subcontractors suing developers for nonpayment.
4.
Subcontractors suing general contractors for nonpayment.
5.
Class action lawsuits against single-family homebuilders and condo developers for faulty roofing, HVAC, electrical, and plumbing systems.
6.
Lawsuits against inspectors for not catching code violations.
7.
Condo boards and individual homeowners suing developers for shoddy work
8.
Lawsuits against appraisers for inflated values.
9.
Lawsuits against banks when project fundings are halted.
10.
Lawsuits over completed condo units being substantially different in size, interior finishings, and quality than how they were represented preconstruction
11.
Lawsuits by anyone and everyone against anyone and everyone over various fraud allegations
12.
Of course, we can’t forget countersuits by anyone and everyone against anyone and everyone over anything and everything.Judging from Morgan’s lawsuit vs. Lennar; various recent class action lawsuits against prominent subprime lenders; and “dozens of civil lawsuits alleging the gamut of mortgage fraud, from cash-back deals to lying about income on loan documents” (the latter just in the state of Arizona alone), it is safe to say that a fresh wave of litigation has started.
Things appear to be just as Richard Hagar of American Home Appraisals suggests: “This is the beginning of the wave of lawsuits, lost licenses, and criminal indictments.” The key word in that sentence is “beginning.” The avalanche has a long way to slide before we can even begin to think it is approaching the bottom of the hill.
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Anti spam word “deals”, Sweet!!
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This place is really slowing down.
More sweet
deals are needed.Buy an apartment complex in the 30-50 million range with 500,000 cash back at closing with some “liar” loans.
Hey, it worked before, no?
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Casey, did your new business partner buy your espensive crableg dinner after your sweet-deal meetings??
Sheesh…I work my a** off and can’t afford to eat like that.
Get a job.
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You could have picked a better title for this topicl. It’s not politically correct but hey I don’t like politically correct anyway.
Nice photos of the properties in Utah. It just seems like something is missing here. You are so in debt and without capital and credit and you’re looking at sweet deals. Is that Nigel the poster? You guys look great together.
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Casey, did you really posted comments at http://www.my334442debt.com and tell him to buy blue balls and million $ complex AND get some cash back from credit cards?
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Casey,
If you do a short sale on Rio Rancho, do you owe the money back you received for the redemption rights? Im just curious.
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Casey, you keep saying you want to keep this blog “organic.” What does that mean? Are you growing vegetables for your juicer?
You also say you want to keep this discussion “PG 13.” Why? Are there children reading this weblog?
If you want to delete the spam and hate mail, or protect someone’s identity that is fine, but why are you are editing out words like, a** , and s*** , and even crap? What are you afraid of? As far as I can tell, you are the only child reading this blog…
censor
1.One who condemns or censors
2.(historic) A Roman census administrator, also a judge of public behavior and morality
3.An official responsible for the removal of objectionable or sensitive content
4.(psychology) A hypothetical subconscious agency which filters unacceptable thought before it reaches the conscious
5.(acronym) Censors Ensure No Secrets Over Radiosorganic
1.(biology) pertaining to, derived from, like, of the nature of, an organ of the body
2.(chemistry) relating to the compounds of carbon, relating to natural products of food or food products, grown in an environment free from artificial agro-chemicals, and possibly certified organic by a regulatory body.
3.(sociology) a form of social solidarity theorized by Emile Durkheim that is characterized by voluntary engagements in complex interdepencies for mutual benefit (such as business agreements), rather than mechanical solidarity, which depends on ascribed relations between people (as in a family or tribe). -
@ 87. Hoovooloo
It is a huge investment of your time. If you’re not prepared to go all the way don’t go at all. But in the end the payoff is huge. Even more so if you are a successful trader. If you are good and math and statistics that is a strong start as most technical indicators are based on math. If you are just looking to day trade as a “hobby” then please don’t. You will blow out your account. Go to the casino instead. You will have allot more fun when you lose your money there.
You should start trading on a “demo account”. You can trade (among other things) stocks, futures, options and currencies. All brokers are different and have strengths and weaknesses but liquidity (getting filled the second you click the mouse) is the most important thing. It used to be that you could day trade stocks very easily. However George Bush passed a new law requiring a higher minimum balance in order to day trade stocks because corporations were complaining that the day traders were causing their stock to “fluctuate” too much. However this can never apply to currencies because they are international. The biggest money to make (and lose) is in currency trading.
You can go to Oanda.com and open a “DEMO” account. You can trade on the demo and learn how it works fist. It is pretty cool to see what you can do and it will save you allot of money.
In trading emotions are your biggest enemy. Even the top traders end up working for others because of that. When your money is on the line and the trade starts going against you; your emotions get the best of you. You can start freaking out, screaming etc. It has happened to me so many times. The market is moving against you. You cannot do anything about it. You are losing all your money. It’s going down. There is nothing like losing $4000.00 in 15 seconds. However the same thing goes for gaining money.
You have to keep cool and follow your trading plan.
It is very complicated. You need trading plans that you “map out” on the charts and follow in a disciplined manner. That’s the best way I can describe it. The market changes over time and you have to constantly scrutinize and refine your trading plan. Do not listen to anyone who says that successful day traders are just “lucky”. It is not about “luck”. It is hard stressful work. 99% of people fail. Those that succeed are the elite.
There is just so much information and science in day trading that you could offer a 4 year degree in it easily. Universities don’t because they are behind the times and out of sync with current reality.
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Cay-sea,
You just deleted about 40 comments when you posted the newer update. Help!!!
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Casey Serin Facing Foreclosure on Wikipedia - a Defense Couldn’t Avoid Foreclosure on Burdett Burdett Avoid Foreclosure Deadline Facing Foreclosure Story on CBS San Francisco Utah Trip a Success! Don’t Be a Dick. Do Some Sweet Deals. Timeline of Life, Houses and Foreclosure CashCall is Calling my Friends Get Foreclosure Help by Drinking Fresh Juice My First Trustee Sale / Foreclosure Auction Results Foreclosure Auction On Monday
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