As some of you have noticed in the sidebar I have some sponsors. I would like to introduce them to you:
Sell Your House Fast:
House Buyer Network™ is North America’s largest home selling solutions service. Our professional, experienced home buyers have processed more than $25 billion in property since 2002 and over $12 billion in 2006 alone. We buy houses across the U.S. and Canada, so our home buyers can assist you in the home selling process no matter where you need to sell a house. We’re also the only company who gives you two options for selling a house fast.
This house buying service is great if you are trying to stop foreclosure like me or just want to talk to a local real estate investor about selling your house quick.
Of course, it helps to have some equity in your property. I actually tried contacting some of my local investors associates when I first started this blog in trying to see if anybody wants to take over my deals. Well since I was so over-leveraged nobody really wanted to take my “sinking ships”. I don’t blame them.
However I did work with an investor on negotiating a short sale (to sell the property for less than what I owe). I’m also getting help from real estate agent(s) who specialize in doing short sales.
The nice part about the House Buyer Network is that they will give you two options for selling a house fast. 1) They will put you in touch with a local investor and 2) they will put you in touch with a local “fast sale” agent.
Between the two you should be able to get some good advice and help with selling your house fast. There is no cost for this service. (I might actually use them to help me find a new Realtor and/or investor for my New Mexico and Burdett properties).
The reason I feel pretty good recommending their house buying service over the other “We Buy Houses” guys (many of them are scams, believe me, I know) is because they are very picky about selecting their local investor partners.
For example they wouldn’t let me take the Sacramento area (it’s available). Something about that I don’t have 2 years of full-time successful house buying experience. And I’m sure the thing about me facing foreclosure didn’t help much either.
Learn to Invest Without Paying Thousands of Bucks:
The people behind House Buyer Network just launched a new real estate investing education website.
Real Estate Investors.TV is the premiere real estate investment education website that includes the best online learning content from some of today’s leading real estate investment gurus.
I have spent over $30,000 on real estate investing education in the last two years: seminars, “boot camps”, books, tapes, etc. Now, I’m not saying it was all bad but a lot of it was “fluffy” and seemed overpriced (yeah I know, I got sold). One things for sure, is that some of the real estate “gurus” make more money selling seminars then they do on actual investing of their own.
I am actually glad to see that somebody went out there and put together some quality videos, audio and print materials from the “gurus” in one place for just 40 bucks per month for unlimited usage. And we’re talking full-length meat-and-potatoes videos, not teasers.
I still don’t know how they convinced these investing gurus to offer their stuff for next to nothing. You can see from my closet shelf that some of the courses that I paid thousands of dollars for are now available for a small monthly fee.
Get-Rich-SLOW…
Instead of the typical motivational “You Will be Rich Tomorrow” rah-rah (I know all about that) the focus of Real Estate Investors .TV is to give you nuts-and-bolts training that you can start to implement right away and learn to do real estate deals one-at-a-time with little risk. (Sorry, no crazy 8-houses-at-once with 100% liar loans cash-back-at-closing techniques covered here).
I was told that they don’t just let any guru on there. The gurus and videos are hand-picked for quality, ethics (I like this) and actionable content. Because of that there are very few mainstream gurus. Maybe because the “fluff factor” is higher on those guys.
I asked them why Robert Kiyosaki is not on there. The answer is because Kiyosaki’s stuff is meant more to be theory big-picture type of stuff and not necessary actionable step-by-step content.
Anyway, check out REI.TV while it lasts. This is some of the cheapest real estate investing education you will find.
(If you pickup a sweet deal as a result you owe me a wheat grass shot from Jamba Juice!)
474 Comments
January 23rd, 2007 at 7:18 am
first
January 23rd, 2007 at 7:34 am
Finally a good move. This blog gets a lot of eyes on it every day.. you should be making some coin with it.
January 23rd, 2007 at 7:35 am
Casey– its almost auction time in Modesto! Will you even bother to show up for it? Tell us how it went if you do!
January 23rd, 2007 at 7:47 am
Casey,
You could have learned a lot without spending thousands but you wouldn’t have listened to anyone. That’s just your style.
I have never spent a penny on seminars and have put together a nice portfolio of real estate investments. I think those who pay a lot for real estate education seminars just get snookered by the make fast money hype. The ones who usually plop down their credit cards are the ones most likely not to benefit. I went to several teaser seminars, including the RE Expo in SF and no way would I spend my money on the hooey that was being spewed.
You make good money in real estate by buying smart, taking care of the property and selling or renting for profit.
All the get rich quick crap is designed to help the vendor get rich quick.
I could recomment 5 books that would cost less than $100 and you’ll learn most of what you need to do OK.
Since Casey got taken and used the information to destroy his life with the overpriced seminar/education/crappolla he’s a great example of what not to do…
January 23rd, 2007 at 8:00 am
Leroy, yeah I had to find a way to monetize this blog but I didn’t want to go with Google AdSense because there is no control over the advertisers and it’s prone to click-fraud.
Now I’m only going to take sponsors with products and services I believe in and would personally recommend and products that would appeal to my “audience”.
But what exactly is my audience?
I figure there are 3 types of people here: 1) train-wreck watchers 2) people interested in real estate 3) people facing foreclosure
#1 crowd is just here for entertainment, they are not interested in any products/service and will never pay for anything. I think #2 will enjoy REI.TV for cheap but quality RE investing education and #3 can definitely take advantage of HBN to see if they can just dump the house quickly.
#1 crowd is definitely the most vocal and the most critical. They don’t care about what really happens as long as they have some good entertainment. Sometimes I wonder if I can EVER do anything right in these people’s eyes. I mean what would happen if the “slow motion train wreck” avoids collision? I know there ARE a few critics here who genuinely want to see me improve and they offer their criticisms in hopes of being constructive. I have a feeling though that the larger amount of critics here just want to see me fail one way or another.
And yes, there are supporters, however most of the supporters or “cheerleaders” as you guys call them here, don’t leave comments. They actually email me encouraging emails. When I receive those, it makes my day.
Anyway, this just experimentation stage to see if my sponsor is able to get any value out of my blog. After we see how things go we’ll be talking more about compensation and such.
Who knows, I might be able to cover my living expenses through this and continue to survive, work on settling my debts and learn how to do real estate the right way.
January 23rd, 2007 at 8:09 am
aaack!
Useless! Get a sponsor that sells fishy treats!!
thpptt!
S_t_C
January 23rd, 2007 at 8:26 am
“I figure there are 3 types of people here: 1) train-wreck watchers 2) people interested in real estate 3) people facing foreclosure.”
Percentages:
1) Train wreck watchers - 85%.
2) People interested in RE - 10%. These folks eventually convert to #1.
3) People facing foreclosure. 5%. These folks either move on or convert to #1 once they realize you’re a […]
“For example they wouldn’t let me take the Sacramento area (it’s available)Something about that I don’t have 2 years of full-time successful house buying experience. And I’m sure the thing about me facing foreclosure didn’t help much either………..ya think? […]
Another 400+ comments to come. Congrats.
January 23rd, 2007 at 8:31 am
Why haven’t you looked into the calendar idea? Even if A*y doesn’t want to participate, you can still ask Stephanie J, T., Kelli, and so on. I would pass on PrLinkbeech or whatever her name is.
January 23rd, 2007 at 8:32 am
Hey Casey,
I make my living as a landlord, and have been successful at Real Estate investing for over 25 years now. I never tried any of that idiotic nothing down, cash back at closing which always results in borrowing more than you can ever possibly repay. Today you’re up to your neck in debt and still think this is a viable way to make a living. I can assure you, it is not.
And I have read enough of your blog to know you have absolutely nothing of value for me to learn. In fact, I never thought anyone could be as naive, stupid, reckless and crooked as you. Until I read about your fiasco here of course.
I originally hoped you would learn your lesson, and get out of this mess. Burt after watching you repeat your same mistakes time and again and continue with your get rich quick scamming schemes, I hope you get serious jail time. Yes, you did knowingly rip off others bigtime, and you deserve to pay for it criminally. And not just a slap on the wrist either.
So count me in the “watching the train wreck” crowd for sure. I bet better than 95% of the people that follow this blog fit in that group too.
January 23rd, 2007 at 8:32 am
Is there an echo in here? I think we have been saying this for moonths: “I have spent over $30,000 on real estate investing education in the last two years: seminars, “boot camps”, books, tapes, etc. …. a lot of it was “fluffy” and seemed overpriced (yeah I know, I got sold). One things for sure, is that some of the real estate “gurus” make more money selling seminars then they do on actual investing of their own. ”
We were saying this back before you wasted more $$ and time at that “university” in AZ. I hope their website has much more solid info, though again the four books I listed the other day that cost less than $80 in total gave me a great education, supplementing the hands on learning. I am not crazy about anything that has a monthly fee as it is easy to forget you have subscribed and pay long after you stopped using it. And they add up - hence no cable/satellite at my place, no Tivo, etc. And no $40/month real esstate educaiton - but at least you are saying (even if not fuly believing) that solid education and a slow and steady approach make sense. That’s a first.
January 23rd, 2007 at 8:34 am
Hey-
The reason R.K. isn’t on there is because….
*bum bum bummmm!*
he’s…
a…
CON ARTIST!!!!!
*GASP*
January 23rd, 2007 at 8:40 am
I’ve been using that word to describe you since I started posting. Now you delete it?
January 23rd, 2007 at 8:40 am
Rock/Casey/Hard Place
January 23rd, 2007 at 8:45 am
Every time I read “sweet deals” it just makes me laff. Now I’m off to see if I can get sweetdeals.com.
January 23rd, 2007 at 8:52 am
Craven, I’m tired of personal attacks.
Yes Jobu, that’s a good way to describe it.
Dan, there IS a little bit of upstart money but nothing to brag about. From a sponsor’s perspective its a risky thing just being on my blog because of all the negativity. So I’m thankful for them giving me a shot.
Ethical Realtor, yes I belive that you can definately become successful just off of one RE book that you don’t even have to buy, just go to the library. I have a friend that did exactly that and is making $10K/month wholesaling properties with no risk. When I saw that I felt just a bit un-easy because of all the money I sunk into education.
If a personal is frugal + go-getter they can definitely succeed WITHOUT huge investment. I’m not frugal but I AM a go-getter that’s why at least I took action (even if it’s wreckless at first).
If we both become millionairs in 5 years what does it matter that I spent 30+ grand while he spent nothing on education?
However, in the mean time, spending nothing sure beats paying those credit card bills, so NOT blowing a bunch of credit money in seminars is probably a smarter route, unless those seminars are REALLY worth it. (few are)
The REI.TV from what I have seen so far is a great way to go ‘cuz in terms of being frugal and still getting pretty good education. (And no, I’m not just trying to plug my sponsor)
January 23rd, 2007 at 8:53 am
Who is coming with me to the auction tomorrow?
January 23rd, 2007 at 9:01 am
Casey,
We and FBI are coming to the auction just for you.
Do not run.
January 23rd, 2007 at 9:02 am
Frank in SF, would you post your book recommendations for the rest of us?
January 23rd, 2007 at 9:02 am
another useless website, if they can not help casey then they’re not a good one.
why should we try it if it’s not a good one??
we are not like casey who is still in dreamland.
January 23rd, 2007 at 9:04 am
It’s not $30 or so grand on RE courses now, Casey. It’s $50,000+ now, adding in the Phx “school.” Which btw, is not in any way accredited, which means no accredited school will take those credits.
But $50,000 on real estate seminars. None of which you had to spend, if I’m not mistaken.
January 23rd, 2007 at 9:07 am
Just an FYI..
I am the President of both HBN and REI.TV. My name is Duane LeGate.
Casey is being compensated at a rate better than he was getting for his Google Ad Sense.
I am trying to work with Casey to do the following:
1) Stop chasing the shiny object.
2) Forget about real estate for a minimum of 6 months (one step at a time folks)
3) Monetize his best asset (technology and blogging skills)
4) Contact ALL debtors and work out a plan
5) Pay back over time everyone he as intentionally or unintentionally screwed.
6) No more seminars
7) Responsibility for his actions
Those are just a few things.
If I think that Casey can walk the straight and narrow, I will work with him. It has less to do with money to me that responsibility.
I cautioned him in the past about the seminars, corporate credit, etc..
I am hoping that Casey can turn the corner. If so, I will help him in any way humanly possible. If not, I will turn into one of those train wreck statistics.
The ball is in Casey’s court. But for 1 week (a start), he has done everything I have asked of him.
Here’s to a new start in 07.
January 23rd, 2007 at 9:08 am
Adblock is a wonderful extension!
http://iamfacingforeclosure.com/images/rei-tv.png
January 23rd, 2007 at 9:08 am
Yo yo Casey,
Me and Be’zhawn (and Starkeiha his honky chick) wanna mosey on down and watch.
Lop some boogie. ah’ gots me some business cards t’pass around and maybe dig some mo’e bbusiness outta da damn sale. ah’ gotss five cribs in escrow, all uh dem at least $80,000.
Woddy gives me great referrals at da damn bail bonds sto’e, but his clients is a bit, uh, low income. Now Ishon gotss lots some cousins who mosey on down by t’see me. When ah’ ’splain how baaaad some time it be to be stealin’ real estate dey see da damn way. Slap mah fro!
Ah’ closed 19 os Ishon’s cousin’ last year alone. I’ll be dere Casey. Slap mah fro! Come on by Woody’s at 14d and J about 7:00 and pick us down.
Mah’ Navigato’’s in de shop digtin’ detailed.
Word
January 23rd, 2007 at 9:08 am
“Craven, I’m tired of personal attacks.”
I was just kidding Casey. Chopper’s post has made me see the error of my ways. I’ll be slaving away at my 8-5 long after you’ve made it.
Good luck at your auction buddy. Let me know if you need some gas money and I’ll throw it in your tip jar.
January 23rd, 2007 at 9:17 am
“If we both become millionairs in 5 years what does it matter that I spent 30+ grand while he spent nothing on education? ”
But YOU ARE a millionair. ooops, it’s in debt. Cmon R U saying that you’re offering free adspace just for the advertiser to see if it’s worth it ? looooooooooool They should have asked you money for advertising on your site. You probably would have opened a credit line somewhere for it. tss tsss tsss
January 23rd, 2007 at 9:18 am
Bwaahahahaha!
Of course your sponsors snookered you in with the “it’s a bit of a risk, let’s see how it goes” ploy. They want to pay as little as possible cause they’re get this… sneaky profiteering businessmen! By the time next month rolls around they know your sh#@t has hit the fan and there’s nothing left to see here people.
Either you’re the most clueless person to have walked the earth or pretty damn slick. Pocketing the cash back moolah, adsense revenue and now place your own ads. Squirreling it all away in a Nevada holding corp with overseas parent and playing dummy dum dum on the blog to reel in the fishes and give the DA the impression you’re just the poor little drummer boy being marched off into the front line.
January 23rd, 2007 at 9:18 am
Casey– I’d love to stop by the auction tomorrow, but unfortunately I have a real company to run… (wasting my time reading your blog is bad enough!). But do take a good video camera and record the proceedings– we all want to see the action online!
January 23rd, 2007 at 9:28 am
Tibetan Monk say…
When leg on fire, most people get water and put out fire. Look at leg and say, oh, leg damage, very bad.
When real estate losing money, most people think very bad, doing something wrong, cut losses, get out.
When Casey lose money in real estate, he think very good, double down. Then Casey try to dump holdings, not worth valuable time. Now, time to buy new income property.
Even monk know bad time to buy real estate.
Sell real estate in year of pig. Buy real estate in year of blood in street.
Casey still grasshopper.
January 23rd, 2007 at 9:31 am
I think you should go to jail, but I certainly approve of you trying to make a buck off of this blog. The fact that you’re trying to profit from a crime makes you a true, red-blooded American, just like OJ Simpson. There’s nothing wrong with making a buck off of this blog. In fact, I wish I came up with the idea of trolling the public in a blog like this to make a profit myself. I also believe that your blog can get you upto 50% out of your current situation.
As for all the haters: George W. Bush is a miserable failure and people put him in office. So, in America, intelligence doesn’t matter. As much as I dislike your ways Casey, you are the type of fool that Americans like to prop up. As long as you’re white, anyway.
January 23rd, 2007 at 9:31 am
If I had the time, I’d take the drive down the coast from OR to attend the little auction shindig.
You’d be able to identify me as the woman with the long curly-hair, driving up in a fern-green Jeep and approaching you with her hand poised to slap some sense into your little mop-head.
I still have *no* idea why I care at all what you do, Casey. I’ve thought on it a lot. You have a tendency for self (and spousal) destruction, and it irks me so much that you cannot step back and see it for yourself. If this were anyone directly involved in my life, I’d throw my hands up and walk away–let them flounder in the choices they made. But I always feel compelled to come here and fuss. WHY?
I guess it’s the Trainwreck thing. I must have a morbid fascination with trainwrecks.
Get some perspective kiddo. You shouldn’t be focusing on schemes to make money in the future, when your world is imploding RIGHT NOW.
January 23rd, 2007 at 9:32 am
Yes, Jim is right.
Take a video of the auction and the action down there.
And if the FBI does come, keep the tape rolling….
Loads O Money
January 23rd, 2007 at 9:32 am
Casey
Just because you take the crap posters to this site hit you with everyday, and you don’t take the easy route out and run and hide, tells me in the long run are going to be more successful than any of your critics. Even though I am 15 years older then you in a weird way you have a become a role model for me, teaching me not to avoid my mistakes but to take credit for them and deal with the consequences.
January 23rd, 2007 at 9:36 am
Bob, thanks for your positive comment. At least there is *some* good that is coming out of all this.
January 23rd, 2007 at 9:37 am
Stephanie thanks for caring… even if it’s just a little bit.
January 23rd, 2007 at 9:39 am
::Glare::
January 23rd, 2007 at 9:39 am
Stephanie J . said
“approaching you with her hand poised to slap some sense into your little mop-head.”
I think Stephanie has the funniest lines on this blog hands down!
January 23rd, 2007 at 9:39 am
Duane of HBN and REI.TV wants me to “Forget about real estate for a minimum of 6 months”. That’s going to be very hard. Hey if we can find a way to pay back and/or settle my debts through some other vehicle I’m all for it. I’m not giving up on real estate though. Because I failed in a big way, I’m all the more determined to learn from my mistakes and success in a big way but do it with 100% integrity.
January 23rd, 2007 at 9:40 am
Why isn’t Kiyosaki sponsoring you, since he obviously helped you get yourself into this mess? Or is this blog press enough for him? What about Prleechbiz?
I’m also not seeing any ads for the MLM that you’re neck-deep in.
Perhaps whenever you get a lawyer you should ask him to advertise on the blog. We know how wonderfully that worked for your realtor. Then again, once you foreclose, you could become the poster boy for CCCS, because your unsecured debt is going nowhere.
January 23rd, 2007 at 9:45 am
Stephanie J -
See? Even “Legion” is smitten’….
January 23rd, 2007 at 9:49 am
Ahhh man…Kick Duane LeGate to the curb. It looks like he got you on a leash. This is your blog and you make the terms. Who does that fool think he is. I’m sooo disappointed in you Casey. He has the audacity to think that he can stop you from “Chasing that Shiny Object.” Tell him “I’m Casey MuthaEffing Serin, I’m 2.2 Million in Debt and you can’t touch me. And no one can make me dance like a monkey.” AHHHHHH I get it now. Losing to the monkey helped you learn from the monkey. Ok. Then keep dancing Casey monkey. And I’m pretty sure I could round up some people and collect some money to give us a better Casey show. How much would it take for you to take one in the nads or eat a log from Sputnik, or what about a slap in the face from “G.” I bet I could round up about $1000. And we’ll take suggestions too. You willing to dance for that Casey Monkey. What if I threw in some Jamba Juice gift certificates. That’s like saving you $35 dollars every time you go in. Sounds like a win-win deal to me. So come on and let’s work on this SWEEEEET DEAL.
January 23rd, 2007 at 9:50 am
Lets see, you’ve had $2 million in debt over the last year, a negative net worth, and you think you will be a millionaire in 5 years BUT YOU DO NOT BELIEVE IN “GET RICH QUICK”?
This is why we keep coming back Casey! We love you!
Can you blog directly from the auction? We know how much you’ve spent on expensive electronic doo-dads!
January 23rd, 2007 at 9:58 am
I would NEVER use a product/company/service that supports Casey. In fact, I would blacklist them immediately.
Your REagent must have realized I would do this, as would others, which is why she had you strike her name from the site.
You really should get a Jamba Juice ad on this site, but by all means, Casey, make sure they give you CASH UPFRONT, not just a discount on fresh squeezed orange or something.
January 23rd, 2007 at 9:59 am
Don’t get me wrong, I AM into get rich quick… relatively speaking. As long as its ethical and sustainable.
The problem is that I came up short in my first attempt on both of those qualities. So I am hoping to settle my debt quickly and move on to doing real estate the RIGHT way this year: no liar loans, no shady stuff, one deal at a time (even if its a BIG deal).
Perhaps compared to my first attempt, the second one will seem SLOW. But relatively speaking, compared to say, working a job until I’m 65 and HOPING there is going to be some money for retirement…
… well that’s REAL slow. (Nothing against holding a regular job and putting away money into a 401k, but that just seems too risky for me since there is no control over the investment and I’m more of a self-employed type of person so a regular job is hard for me to stick to).
So I believe in Get Rich Slow but not TOO slow. I believe in Get Rich Quick but not TOO quick (meaning, no more illegal short-cuts).
Say 1-5 years until I have $5,000/mo in passive income for my first milestone of “financial freedom”? Yes that seem aggressive but with the connections I have made and the stuff I’ve learned the hard way I don’t see why not.
Real estate and/or business ownership is the best way to go to accomplish that goal. That’s why I’m still at it.
I’m looking forward to working with REI.TV people in seeing how I can learn to do things the right way.
January 23rd, 2007 at 10:08 am
Casey - so, in 1-5 yrs, if you don’t have your passive income goal obtained, will you stop? Or will you keep trying, & all the while wasting away prime saving years? Are you going to keep trying to do this and then one day when you are in your 40’s realize you have nothing? THIS is the time to save money & work - time & time again, studies have shown that if you are in your 20’s & save $$ for less than 10 yrs (i.e., STOP saving), you will have more money saved for retirement than someone who started saving in their 30’s & saved until they retired (i.e., NEVER stopped saving). You are wasting this magic time. Get a real job that pays money - you can do IT work, or translation work….or….
January 23rd, 2007 at 10:10 am
Casey,
My 6th grade teacher used to tell us:
“I’m working on my third million…I failed the first two times.”
Keep at it.
For the board:
Do you remember those investors that were making so much money in Phoenix and Las Vegas? Here’s what happened to one of them…also young, also an immigrant.
January 23rd, 2007 at 10:15 am
Kevin, why not do both? Maybe I can do the get-rich-real-slow thing by putting aside some money into some safe investment every monthly while buying cash-flowing real estate at the same time to “speed things up”. While working as a full-time real estate professional of some kind (agent / loan officer / wholesaler / rehabber). Best of both worlds?
And on top of that running an income producing website(s) and doing website projects there and here for extra cash. Does that sound like a solid plan?
January 23rd, 2007 at 10:19 am
Welcome to “Casey’s” Endgame.
January 23rd, 2007 at 10:19 am
Thanks for suggesting these two productions. Knowing your past, everything that you suggest or do is contraindicated on its face. So now I know at least two additional things to avoid in addition to fat and salt.
January 23rd, 2007 at 10:23 am
“(even if it’s wreckless at first).”
Freudian slip? The word is reckless. Your deals were a financial wreck, but certainly not wreckless.
I always wondered what your business plan was. Buy a house make payments for three months then sell it for 20% more?
That’s not a plan, it was not feasible and you did not even buy low.
January 23rd, 2007 at 10:26 am
“If we both become millionairs in 5 years what does it matter that I spent 30+ grand while he spent nothing on education?”
Here is where you went wrong. Smart investor pays nickle on the dollar, you pay dollar on the nickle. Bill Gates bought the original DOS from a small potato programmer for 25K after he secure 50 million dollar contract from IBM.
You pay 30K for information not worth 1K. As matter of fact, the information you got is not only worthless, it’s harmful to you financial health.
As for 5K passive income. Stop deluting yourself. Everyone with interest paying bank account have a passive income. You only need 1.2 million sitting in the bank earn 5% to have 5K passive income. The trouble is how to go from -0.5 million to 1.2 million.
On another note, if you are actively manage your property, it’s not passive income. So if you have a rental, and you are do the property management yourself, it’s not passive income. It’s no different than work for someone else in a 9-5 job, except you are working for your tenant and property.
BT
January 23rd, 2007 at 10:28 am
This could not have been said better and sum’s up who Casey is:
“And I have read enough of your blog to know you have absolutely nothing of value for me to learn. In fact, I never thought anyone could be as naive, stupid, reckless and crooked as you. Until I read about your fiasco here of course.
I originally hoped you would learn your lesson, and get out of this mess. But after watching you repeat your same mistakes time and again and continue with your get rich quick scamming schemes, I hope you get serious jail time. Yes, you did knowingly rip off others bigtime, and you deserve to pay for it criminally. And not just a slap on the wrist either.”
January 23rd, 2007 at 10:29 am
Casey,
Either this website is a scam or you are so delusional you deserve spending the rest of your life digging yourself out from under your massive debt.
You are so completely inept at “finding sweet deals” that it must have become obvious to you now. You’re still young. Claim bankruptcy, do your time (if any, I’m no lawyer), and move on.
You can’t keep charging Macaroni Grill and Jamba Juice forever.
January 23rd, 2007 at 10:31 am
Congrats on finally answering questions in a relatively decent turnaround. I don’t want to push my luck but I am sure a lot of people are wondering what happened to Amy? Did she ask yo to take out all links of her?
January 23rd, 2007 at 10:34 am
Holy crap Casey! Not giving up on RE? Wow, you truly are either brainwashed by those lame, sucker courses you’ve taken or you aren’t the brightest bulb in the box
Some people have it and others don’t. You’re like the guy who keeps panning for gold at the end of the gold rush. You may have found a nugget to get excited about, but that is it. You are wasting time on RE. Here’s where I get positive (I was at the beginning until I learned more about your past) for a minute: Why not stop messing around in things NOBODY will ever let you dabble in ever again (c’mon, that’s like allowing a failed CEO to run the successful competitor, he isn’t good, he failed, he moves ON). Nobody, not Chris, not the banks (it will take YEARS to rehab your credit if you magically pay everything off soon, but since you have a foreclosure, it’s the same as having a BK in the eyes of a lender) or a homeowner would let you deal with them. Why would they? You FAILED. I can appreciate not giving up, but even Donald Trump would tell you to regroup and find your strengths.
Why not go to school and learn more about computer programming? Why not be a blog superstar? Oh I know why (critic in me coming…back…can’t….stop…it)…you are addicted to anything that you perceive involves as little work as possible. Problem here is you cannot accept that RE is one of the HARDER businesses to coast in. You cannot coast…period.
Proof is in the puddin’ young’un. You wouldn’t even drive 1.5 hours to do your fiduciary duties and keep tabs on your house. NO ‘entrepreneur’ worth his own salt would EVER make the arguments you made against doing your job.
NOBODY. So basically, stick to your strengths. Blogging and computer programming aren’t sexy, but they can make you tons. Just ask that Adbrite guy who keeps bugging you. He made a fortune on a site called F–d company which made bets on tech companies failing. He also ran a porn site that made tons. I at least respect him (grudgingly) but at least HE ran with low risk ideas that paid off.
And no, I don’t work for Adbrite and could care less what you do there. I am just using them as an example.
January 23rd, 2007 at 10:35 am
Hey, it’s good to see you’re maturing a bit, in realizing that making money at real estate could take time and preparation, and that the people to listen to are the ones giving specific, detailed advice and not fluffy, feel-good stuff. You won’t get rich nearly as fast as you still want to, but follow the slow-and-steady advice and you will get there. And, taking care of your debts over the next year or so (by debt negotiation or bankruptcy) will be necessary, as you won’t want to be buying properties when you’ve got those credit card/deficiency judgments against you.
January 23rd, 2007 at 10:35 am
Casey, you would need to get licensed if you want to be any of those things. I have doubts you’d do the necessary work to get a license.
Sorry kid, you prove people like me right everytime.
January 23rd, 2007 at 10:38 am
Casey, you are mental.
Get help, please.
January 23rd, 2007 at 10:39 am
“Anyway, this just experimentation stage to see if my sponsor is able to get any value out of my blog. After we see how things go we’ll be talking more about compensation and such. ”
Did I just read that right? Our Favorite Flipper Failure has also now failed to successfully monetize this blog…YET AGAIN?!?!? As always our FFF has failed to understand that they people are doing BUSINESS and trying to NEGOTIATE the lowest possible COST to themselves.
Casey never has understood that fact and will continue to over-personalize business transactions further digging himself into a hole he cannot escape.
CS, you never responded…have you packed your suitcase (complete with home juicer) or looked for “sweet deals” down in Mexico?
January 23rd, 2007 at 10:41 am
Stephanie J
I think I’m falling for you, too. You must have quite a following by now. Please tell me you don’t wash your jeep. PLEASE!
January 23rd, 2007 at 10:41 am
Casey - nope, it doesn’t. You need, as you said, “some money” & that you ain’t got.
By the way, you could never become a RE agent, at least in my state. You have bounced checks, and you are about to not be able to pay your taxes, & besides you would lose your license within a day for comingling funds.
January 23rd, 2007 at 10:43 am
If I were a lender and I saw what you had done to me, I would immediately go after the wages that you get from your blog. If your honest intent is to repay every dirty penny, then your blog is the only real estate that’s making you any money at all.
I still think that unless you somehow magically repay everyone back, you honestly deserve to go to jail for a very, very long time. I will be so disappointed in our justice system if you don’t go to jail. Poor people who have no income steal petty items and go straight to jail. You stole hundreds of thousands of dollars and are sitting around posting to the web. You are worse than a lot of bank robbers and that’s why people need to stop cheering you on.
Sure, I don’t like the banks. The real injustice is how you’re doing what you’re doing while common petty criminals who have less net impact on society than you do are doing time. There’s no justice in your situation and it should make people very angry.
January 23rd, 2007 at 10:48 am
“putting away money into a 401k, but that just seems too risky for me since there is no control over the investment
…
working a job until I’m 65 and HOPING there is going to be some money for retirement…”
You are mislead by those dream sellers. Your 401k saving is in your control you can put them in different funds depend on your 401k plan. You have full control, I move my funds around a few times a year. If you quit or change jobs, you can rollover to another 401k plan or an IRA with a brokage firm, you have even better control, you can trade day in and day out to your heart’s content. You can take money out after 59.5 without penalty.
If you are making good money and your company sponsor roth 401k, you can put money in roth and after 59.5 of age, you can take out no tax.
Even if you are not 59.5, you can stop working say 55 and live on your savings for a while until you are 59.5.
So 9-5 job is not as bad as the deam sellers make it sound. There is benefit of sick leave and vacation, peace of mind when you go home.
BT
January 23rd, 2007 at 10:55 am
@ The Original Kevin & Legion
Thanks guys. That’s sweet.
January 23rd, 2007 at 11:08 am
Why do some readers belive that the “auction” for CS’s property is going to be conducted on the premises of said property? I have a hunch it doesnt work that way.
BTW Casey youre not off the hook for this omission either.
You claim that you offer “education” here and then don’t even attempt to clear up elementary issues regarding real estate, contracts, or financing. And so this blog offers no concrete practical education on these matters.
January 23rd, 2007 at 11:08 am
While working as a full-time real estate professional of some kind (agent / loan officer / wholesaler / rehabber).
Loan officer! LOAN OFFICER?!?! Oh my gawd! You’d never get past the most rudimentary checks. I think maybe you ought to strike that one from your list. Personally, I think you might not even be able to get a job as a bank teller. Seriously.
Good luck with the foreclosure tomorrow — well, as if you could somehow have any good luck with it — and keep us posted. I’m sure not envious of what you’ve got yourself into, and you do have cojones to even consider standing there at the auction to see it. Keep us posted.
January 23rd, 2007 at 11:09 am
Casey,
Out of curiousity. Did you join Robert Allen, Russ Whitney, Ron Legard? Which one did you join?
January 23rd, 2007 at 11:26 am
I’ve learned something here. There are many valuable information being posted here. Of course, the “useless” information far out numbers the useful one.
FYI, Cassey, there is no such thing as GET RICH QUICK. The only “quick” LEGAL big bucks you can ever receive are from you parents (ie inheritance) or hitting the lottery. The problems with these two are your parents have to be rich first (which you have not much control) and the odds of winning the lottery is ridiculous.
The alternative is to use the capital you have wisely to build something of value. Look at all the top companies in this country. Everyone of them have to go through some heavy dose of working hard phase. Your hero Kiyosaki said to read successful biz people’s life stories, have you done that? Bill Gates used to program til late night, wake up, and program again for many years until Microsoft made it. Microsoft stock was traded for about $5 in 1988 (split adjusted, corporate action adjusted would probably make that more like $.50). You claim to be an entrepreneur/investor, but frankly, I am not sure what you are an entrepreneur/investor of? Entrepreneur means you have to bring something of value (a product, service) to the table. You either have a product to sell or have capital to buy a product (and improve) - invest. You have nothing.
To become a millionaire, you need to come up with a product/service or system that brings value. Five year is probably not going to happen, but 7 year is possible (see Google as example).
Also your misconception of working at a job is not for “entrepreneurs” is totally incorrect. Every founders, early employees of the “geek companies ” (MSFT, appl, goog…) all started with many entrepreneurs. They work flexible hours, but they believe in their products, have a vision and did it.
Good luck.
January 23rd, 2007 at 11:27 am
Casey, you do not have good ethics to be an agent, you will mess up client’s deal…. into foreclosures…..
I would not dare to hire you… to much liabilities…
January 23rd, 2007 at 11:35 am
“I’m all the more determined to learn from my mistakes and success in a big way but do it with 100% integrity.”
“So I am hoping to settle my debt quickly and move on to doing real estate the RIGHT way this year: no liar loans, no shady stuff, one deal at a time (even if its a BIG deal).”
So, do you intend to settle your debts with 100% integrity?
January 23rd, 2007 at 11:35 am
Casey, Casey, Casey:
Once you’re convicted of fraud (or any of the “violation of trust”-type crimes), you will be disqualified from becoming a real estate or mortgage licensee in every state in the US.
Seek treatment for your mental illness, and seek legal assistance. Your delusions are becoming more powerful and dangerous.
January 23rd, 2007 at 11:35 am
“Duane of HBN and REI.TV wants me to “Forget about real estate for a minimum of 6 months”……. (100% success)
Haven’t you already accomplished that? I think not paying your mortgage, forgetting about your utility bills, and having your posters tell you about an upcoming auction on your property is forgetting about real estate.
“Nothing against holding a regular job and putting away money into a 401k, but that just seems too risky for me since there is no control over the investment”
Priceless comment. I’ve never heard of a 401(k) going a half million in the hole.
But forget about all of that lame stuff and press on Casey!
January 23rd, 2007 at 11:36 am
Casey,
You said “Nothing against holding a regular job and putting away money into a 401k, but that just seems too risky for me since there is no control over the investment…”
I’m not trying to be a “hater” but either retract that statement or provide some justification because you’re doing a disservice to the educational mission of this blog by making that unsubstantiated claim. What do you mean by “too risky” and “no control”?
I believe at least some, if not most, 401(k)’s have a wide selection of funds to choose from (I don’t have a 401k myself, but I do have a Roth IRA in which *I* choose which stocks to buy and sell.)
Here’s some choices for the 401k and IRA investor:
- Want to be in low-risk cash? Money market funds are yielding 5% right now.
- If you have a pulse on real estate-related companies, look into a fund like Fidelity’s FRESX for instance (>30% return last year)
- Do you think the real estate bubble is popping? Then get out of those types of funds and diversify among funds that track indexes, or precious metals, or international markets, etc … the individual *does* have control.
- If you don’t like the choices (or lack of) in your company’s 401(k), you also have Traditional or Roth IRAs available to you. Look for a “no annual fee/no inactivity fee” IRA account at a discount brokerage and you can choose from as many mutual funds, CDs, cash, bonds, ETFs, and individual stocks as you want.
As for the “too risky” argument - that sounds like RK’s opinion of mutual funds rubbing off on you. As you’ve already learned, no investment is risk free… even real estate can have some down years
I’ve heard RK’s arguments against mutual funds and I don’t find them convincing. His main arguments seem to be (1) too many fees and (2) “too risky”. He’d say - just look at Enron and WorldCom’s employees …. Well, I would hope the high profile demise of those companies was a wake up call for employees to diversify across many types of funds and also a call for employers to offer a wide range of choices: stocks, bond funds, precious metals, real estate investment trusts (REITs) and international funds… If those employee had the choice to be well diversified and put only 5-10% of their money in their employer’s stock even when it went to $0, it would’ve just been a small blip in their portfolio.
As for RK’s “too many fees” argument, he cites John C. Bogle’s figures. Well, Bogle is a founder of (and believer in) Vanguard Funds and a big advocate of no-load, very low expense ratio index funds. I’ve never seen RK specifically address index fund investing - they seem to resolve his “too many fees” argument. He just seems to lump all “fund/401k” type investing together since real estate is just so much better!
January 23rd, 2007 at 11:36 am
How are you doing Casey? Have you consider any other business opportunities outside of real estate? I have been working on a web based business plan, but my web design skills are min. I can send you a copy of my business plan via email or fax if interested. Talk to you later.
Frank
January 23rd, 2007 at 11:39 am
“Nothing against holding a regular job and putting away money into a 401k, but that just seems too risky for me since there is no control over the investment and I’m more of a self-employed type of person so a regular job is hard for me to stick to”
That is by far the funniest thing you’ve written in months! A 401K is too risky?? Here’s your sign.
Risky is investing in real estate when you have no clue what you’re doing. Risky is buying real estate in other states when you cannot be there to supervise construction or show the property. Having a normal 9-5 job with a 401K is NOT RISKY. It’s normal.
If nothing else, learn this. You take risks because you want to. You like it. You enjoy the drama and the stress. Being an average working stiff would mean you just live like anyone else. Who would read your blog then? Right. No one.
January 23rd, 2007 at 11:45 am
Yeah Casey, that sounds like a solid plan - for any of us reading this, not you. I would almost lay money on the table that not a one of your audience is nowhere near as deep in financial ruin as you are. Now for the first agenda on your “solid plan” - when are you going to start working full-time? And let me see, you are going to concentrate on putting away money for a “safe” investment “while buying cash flowing real estate at the same time” when you haven’t even tried to make a dent in the debts that YOU have accumulated? And did you really just mention loan officer as one of your new wannabe careers?
Bwhahahahahaha!!!!!!!!!!!
January 23rd, 2007 at 11:45 am
“Does that sound like a solid plan?”
No it doesn’t. It sounds like you’ve put a whopping five minutes of thought into it. You have no money to put into anything. You claim you aren’t going to BK, so you aren’t going to have any money for a very long time. Besides, what you’re talking about would have been an OK plan before you bought 8 looser properties and screwed the pooch. Wake up, you can’t do anything until you clean up this mess. Your website’s success is owing solely to your mishandling of every aspect of your situation. Why would any other web endeavor you undertake be successful? Do you have some skills that you haven’t told us about?
How about this for a plan: get a good attorney, declare bankruptcy, try to get as much debt as possible discharged, and let the chips fall where they may. Then, see how you stand and figure out where to go from there. By that time all of the GRQ gurus will have moved on to their next big thing (gold, day trading, beanie babies, crack cocaine, whatever) and you’ll have completely forgotten about real estate.
January 23rd, 2007 at 11:55 am
I second The Original Kevin’s point: “… if you are in your 20’s & save $$ for less than 10 yrs (i.e., STOP saving), you will have more money … than someone who started saving in their 30’s & saved until they retired…You are wasting this magic time.”
Do this calculation on a spreadsheet:
1) Start at age 20 and go to age 60.
2) Save at a rate of $100/mo. and assume a 12% return (I know that return is higher than market averages, but we’re ambitious investors and for the sake of drama… hey, this is iamfacingforeclosure.com!)
3) At year 60, you’d have over $1 MILLION DOLLARS.
4) For the same rate of saving ($100/mo) and the same 12% return, start at age 35 instead of 20.
You’d end up with only $180k. That’s a huge $850k LOSS!
Well, 15 years is a long time… how much do we lose if we start at about Casey’s age: 25 instead of starting at 20? Well, at age 60 you’d have about $581k instead of over $1M! That’s about half of the money! An expensive 5 years of stalling.
January 23rd, 2007 at 11:56 am
Casey, you dont know what it is like to be attacked. Try being stuck in a Chinese prison for a couple of months. Then you get out and are asked by the president to basicly give up your life!!! You escape, nobody believes anything you say and because of this you are forced to co-operate with a former terrorist, kill one of your best friends, and now it is looking like my dad and brother are next!!!!
You dont even know what troubles are. I cant believe Stephanie is showing you compassion.
January 23rd, 2007 at 12:11 pm
Answer me this, please, Casey.
Where are you getting your information regarding 401k’s? Unless you are obviously trolling and just trying to rile up the ‘haters’, these are the kind of statements that just show you don’t know much of anything and blindly follow your gurus.
January 23rd, 2007 at 12:13 pm
And one more comment regarding your 401k “risky” post.
Let’s say your company matches 50 cents on the dollar up to a given deferral amount, you have a 50% instant return on your investment. And that’s exclusive of the initial tax break you get depending on your tax bracket. And your return could be much greater, depending on your risk tolerance.
There…and I didn’t even call you a ‘tard.
January 23rd, 2007 at 12:15 pm
You’ve got it the wrong way around, I’m afraid. Being successfully self employed takes more self discipline and focus, and those are not your strong suits yet. You’d be much better off working a steady regular job for a few years until you acquire those skills (and yes, being accountable to a boss at a regular job, as boring and unpleasant as that might seem, can help teach those skills).
Again, if you took a long, honest look at yourself, you might come to the conclusion that for all your “connections”, you simply are not terribly good at the fundamentals of real estate investing: You are neither good at assessing the value of a deal, nor at improving the value of a property, nor at dealing with the financial details. You overpaid for your properties, did not fix them up efficiently, were unable to sell them (except the one that you traded in for a bigger albatross), you got unfavorable terms for your loans, and you did not track the numbers well.
All of this might still have been profitable 2 years ago, when the overall boom covered for a lot of bad decisions, but it’s not likely to work anytime in the next 5 years. So why not take off a few years from ANY “investing” except for investing in your own skills and judgment?
January 23rd, 2007 at 12:18 pm
I can tell you with the utmost certainty that once your houses are foreclosed on your readership will grind to a halt. No one cares what you do once you’ve gotten past that point. I’ll just wait to read about your prosecution for mortgage fraud in the newspaper.
This is not to mention that there is already a growing outflow of people getting their Casey fix on other websites. We can and will avoid this site if that is what it takes to ensure you don’t profit from this.
January 23rd, 2007 at 12:27 pm
To Mr LeGate–I hope you understand how radioactive Casey is, and how it will negatively impact your business. You want eyeballs on your websites, but do you want them to be bloodshot, rage-filled ones (since that is the emotion Casey seems to engender in most readers)?
As a potential home buyer, I would never consider doing business with someone who affiliated themselves with Casey or similar charlatans.
January 23rd, 2007 at 12:29 pm
I’ll say it yet again…
You cannot buy property
There will not be any more real estate for you for a very long time, no matter how many ‘advisers’ you have.
You have no money!
No one will give you credit!
How the blap are you going to invest???
January 23rd, 2007 at 12:29 pm
@@Somebody
Indeed, Vanguard’s S&P Index Fund (.25% management fee per year), has outperformed 80% of all other managed mutual funds every year for the last 5 years.
Here’s my Savings and Investment strategy.
GOAL:
Retire by age 50.
Steps:
1) Max out 401c3 Plan (government 401k) and put money into long-term high risk fund. That’s 5% of gross salary + 4% matching per year, about 9K per year.
2) Max out contibution to Roth IRA which is invested in said Vanguard Fund (4% of gross salary).
3) Maintain continous stream of 3-4% return fixed-length CDs with rolling maturity dates for big purchases (rolling about 10K each year, earns some interest.
4) Invest in home and renovate
5) Invest additional savings into rental properties for managed income post-retirement (Have homes paid off by age 50 and earning rental income).
Ignoring home renovation and investment income potential past age 50, my annual savings rate is about 17%, 17K, and depending on RoR, equates to about 2-3m by age 50, or 125K in “passive” retirement income + rental property profit.
January 23rd, 2007 at 12:30 pm
I’m learning that its best for me to keep my mouth shut about my thoughts on 401Ks, college degrees, and working regular 9-5 jobs.
But yes, I agree, being self-employed takes MORE discipline than 9-5. I enjoy this aspect of it thought. Working on self discipline and personal development is a passion of mine (even though some will argue otherwise).
January 23rd, 2007 at 12:34 pm
“So yes, income property is not as passive as having 10 mil in the bank spinning off interest but passive enough for my requirements of 5k/month for a basic level of financial freedom.”
Casey - you seem to think you can buy a income producing property with borrowed money and make passive income. In order to do that, the property has to produce higher yield than interest on borrowed money.
But the truth of the matter is the yield is almost in parity with interest rate, there is no way you make any money this way. This is something they don’t tell you at those real estate seminars.
Cash is king right now. The best income producing asset right now is cash. The MM is paying 5% and you can take the money out any time. That’s what I call sweet deal.
BT
January 23rd, 2007 at 12:39 pm
Casey, my man:
What you don’t seem to comprehend is that the market is tanking. And while for many of us this will be a good thing, I can’t see how it will benefit you because by the time it’ll make sense to buy, your credit will still be toast. So unless you’re planning to do some sort of real estate scam (steal identities, etc.) or use one of your family members’ credit, there is simply no way for you to get back in the game.
You took a gamble. You tried to be a big-time rehabber/flipper/specuvester but the market turned on you. You spent the cash back @ closing (which is a totally different subject) on living expenses and trips to Hawaii when you should have used it to fix up the properties quickly to get rid of them asap. You got 100% (+?) loans which meant you couldn’t lower the price when you probably should have in order to facilitate a quick sale.
You got in the game too late. You gambled and you lost. Let it go. Maybe in about 7 years you’ll be able to get back in the game and if that’s your dream, then fine….have at it, but for now you’ve got serious financial issues that you must address.
I know you dislike the thought of a full time job because you think it means you’ve failed but (and I’ve mentioned this before) maybe if you just take a break for 5-7 years to fix the mess you’ve created, you’ll make better choices the next time around.
This is what people have been hoping you’d realize… that your situation is dire and there are no immediate sweet deals in store for you. I’m sure 60% of this board would be supportive and encouraging if you’d just keep it real.
You’ve chomped down (like a pitbull to a mailman’s leg) on this ridiculous real estate mogul dream and you really just need to let go now. The “haters” have simply been trying (unsuccessfully) to get you to unlock your jaw by spraying you repeatedly with the cold water of truth yet you refuse to listen.
Get a job, Casey. Use the income to supplement what little you’re earning from the sponsors on this site and start paying back your debts. When that is taken care of, you may create a new post to discuss your heartbreak over giving up the real estate dream (for now) and even vent about your frustration in being an employee. I think if you just kept it real and took these steps, half the “haters” would turn into supporters.
Good luck to you, kid. You’re gonna need it.
January 23rd, 2007 at 12:40 pm
Stephanie J … after post #36…I offer you the highest praise I can. Will you please be my f** hag?
January 23rd, 2007 at 12:40 pm
“Working on self discipline and personal development is a passion of mine (even though some will argue otherwise).”
That’s just more Tony Robbins BS propaganda. Personal Development comes from doing real things in the world, not bouncing on a big blue ball.
Do yourself a big favor and get yourself evaluated by a goog Psychiatrist. Get him or her to read this whole blog. Be completely honest about things. I’m not trying to be a jerk, Casey… only tryng to tell you the truth. I think you might find benefit from some med for ADD or Bi-Polar. It’s worth a shot.
January 23rd, 2007 at 12:42 pm
“That is by far the funniest thing you’ve written in months! A 401K is too risky?? Here’s your sign.”
*heh heh* Good one Modesto Girl.
With regards to Casey’s statement: that is a very narrow minded view of a very complex and lucrative investment mechanism.
A 401k plan via a company is usually offered through a brokerage house such as Schwab or Etrade. Now while some funds do carry loads and fees, many others are no load funds. And as indicated by other contributors to this blog, you are free to move your 401k investments from one fund to another to mitigate risks. Furthermore, many of those brokerage houses will offer upgrade plans to 401k brokerage offerings thereby allowing you to buy and sell index funds or actual stocks within your 401k should you choose to do so.
Regardless, a 401k is FAR more flexible a retirement mechanism than any of its contemporaries. Not to mention the company you work for in that “dead end 9-5 job” usually has matching policies whereby they also contribute to your 401k savings. And to top it all off, a 401k REDUCES your taxable income.
Part of the problem that is a side effect of this real estate bubble is people are under the false assumption that real estate outperfroms other asset classes. That is false. In general, real estate is the lowest performing sector, behind bonds and stocks.
As many real estate hypesters love to point out, a property purchased in 1980 worth ‘X’ is now worth so much more. Yet in comparison to purchasing even the single S&P 500 index over that same timeframe, the returns would have been substantially more.
Food for thought.
January 23rd, 2007 at 12:47 pm
Too much foolishness, so little time.
To a certain extent, Casey’s correct: there are risks involved with a 401k. Particularly a poorly managed 401k. Nearly everyone I know could benefit by learning more about their retirement investment options and taking a more active interest in managing/monitoring the allocations. But its rather specious to say that speculating in real estate (especially by an amateur) represents a safer alternative.
One other quick comment… Casey, the RE seminars didn’t cost you $30k (or $50k or whatever). They cost you upwards of half a million, or whatever you ultimately wind up having to pay back. You had a misplaced belief that they would properly prepare you to be flipper, when in fact they didn’t come close. Either their content was worthless crap, or you don’t possess the intellectual capacity to successfully execute with proper instruction (or quite possibly both).
Anyway, your plan to hire a professional management company to handle all the issues… my only comment is that you need to be very well capitalized to get a decent company to consider you as a client. For a large apartment complex, you’re talking several hundred thousand dollars (at least) in liquid assets outside of your real estate holdings. You could some bum off the street to do it for much less (obviously), but if you want an established, quality property management company, they’re not going to consider you as a client. They have a brand name to protect.
January 23rd, 2007 at 12:48 pm
Very Interesting responses thus far…
I had a lady call and leave a message on my voice mail saying she had a house to sell, but there was no way she would use our service because we are sponsoring Casey’s website. She suggested he is a crook and a criminal and she could be right on both counts.
Please, for all of you to understand, there is NO WAY that I am endorsing Casey’s past behavior. I do not condone the seminars he has gone to, the methods in purchasing both in terms of “liar loans” and cash back.
I do not condone him chasing after every quick fix strategy. I am for him contacting every lender and making amends. I am for him owning up to his responsibilities, no matter how painful. I am for him settling down and focusing on first things first and put real estate aside for a while.. the longer the better.
That being said I have had MANY conversations, beginning shortly after this blog went up. I see a young kid who is blinded by the “i want it now” syndrome that so many people his age are affected with.
My goal in supporting this website is two-fold.
One, business. I want people to learn that there is a correct way to build wealth over time using tried and true investing strategies. I believe with the launch of REI.TV, I can offer people true actionable content for pennies compared to what it would cost to buy a book or tape. I think there are investors here that might benefit.
Two, personal. Maybe I have a soft heart. Maybe I am certifiable, but I think that Casey can be shown the light. It may not be soon, but I think I can help. I want to help Casey as much as I can as long as I see him going down the right path. I am not here to control him, but slowly guide him.
I am one of the few that doesn’t want Casey to file bankruptcy. That whole concept reminds me of making life into a monopoly game. Lose it all, then reshuffle the deck and start over. If Casey is ever going to do things right and have accountability… its as good a time as any to start.
I believe that Casey has talent. It is raw and so is he, but I believe that talent can be developed.
I have worked with people in almost as bad of shape and helped them turn their lives around.
If you choose not to do business with me because I am trying to help, that is a personal decision you must make. If I see Casey “veer” off course… you wont have any sponsor to complain to.
January 23rd, 2007 at 12:49 pm
Casey said: “I guess that’s expected when I am a “scammer” in their eyes.”
How are you not a scammer, Casey? You knew what you were doing was wrong. You scammed the lenders, and ultimately society. You don’t have the reputation and the ethics to be in business, not to mention to work in a fiduciary duty position for any client. Good ethics and reputation are an ASSET, even if you are broke or bankrupt, but you don’t even have this. You are shady and greedy, period.
January 23rd, 2007 at 12:51 pm
Ohh.. one more thing…
Casey is a poster-child for what can happen when someone buys into the “Get Rich Quick” programs that are so prevalent in this industry. His story is not unique. He’s just choosing to tell people about it. Whether that is right or wrong, I can’t say, but I do know that his behavior and experiences would have had better results had he had true guidance and education regarding real estate investing, in the beginning.
Again, I am NOT endorsing his past behavior, but want to help guide Casey into doing the right things.
January 23rd, 2007 at 12:53 pm
@Adam - Jeep is pretty dirty, as all proper Jeeps should be–tho it will get a bath to remove those de-icing chemicals & salt–we can’t have my stompy baby getting rusty.
@Jack Bauer - If it *is* compassion; it’s a very sad excuse for compassion, because I’m still in slappin’ mode right now.
I’ve made enough posts for today–this must be a record. All this attention; I’m blushing.
But this isn’t about me. It’s about our little fair-haired boy here–and his selective hearing.
January 23rd, 2007 at 12:53 pm
“When I refer to passive income from RE I’m always talking about having a trusted property management company to runs it all. ”
Property manager in good position to scam Casey. Can take kickbacks from contractor, pocket rent on unit he tell Casey is empty, etc. Read what John Reed say about property manager.
It hard to find property manager who not cheat. You not good at telling honest from cheater. Even Ogg see that.
If you still serious, call Ogg. Ogg manage apartments for you.
January 23rd, 2007 at 12:55 pm
In all seriousness I would guess that 90% of the people who go to this blog are what you described in your #1 audience.
I can’t even see why a person who is in forclosure would come to this site for advice. All you give is horrible advice about what to do in this situation.
Please put up an online poll to find out who your real audience is because I think the numbers will scare you. Limit it to one vote per user.
January 23rd, 2007 at 1:02 pm
I’m glad that your learning little by little. Each person is different, yet you still a grasshopper.
Quote:”When I refer to passive income from RE I’m always talking about having a trusted property management company to runs it all.”
No my friend, before you learn to manage your team you have to learn how to manage your tenants. Believe getting rich 1-5 years is not possible. Learn to evict, fix your property, keep records, pay a property’s taxes, utilities etc. Only then will you say to yourself that you are competent of establishing your team.
I manage a 4 family house in Brooklyn. The experience is enlightening and I learned what not to do from your blog.
If you still want to get in this game, your first team should be: landlord/tenant lawyer, electrician, plumber (charging good estimates of course) try learning general construction yourself.
Getting a job in the meantime will help pay for necessities. You must get a job, you’ll learn to be more disciplined working for someone else than doing it yourself.
keep your head up kid, the sun still shining
January 23rd, 2007 at 1:03 pm
casey, keep up the good work on moderation.
January 23rd, 2007 at 1:03 pm
BTW, when you describe a “put money into real estate and have a team of professionals manage it so that I don’t have to worry about the day-day issues” is basically what a Real Estate Investment Trust is (REIT). Now a good REIT takes a minimum investment of at least $20k (many minimums are several hundred thousand), but they’re a solid investment vehicle for diversifying one’s portfolio to create some exposure to real estate. If you want to try getting rich off of real estate without the headaches (and enjoy limited liability), its going to be difficult for a lazy amateur such as yourself to beat the returns of an REIT.
If you want to get rich off of rehabbing properties, you’re going to have to get your hands dirty. You have to know something about construction. Its hard work and there’s no guarantee that you’ll make money. If that doesn’t appeal to you, then find another means of generating wealth so that you have capital to invest in a professionally managed portfolio.
But you’re putting the cart before the horse if you honestly think that you’re going to earn any sort of significant return by a) not having capital to begin with; and b) not work. That you still don’t understand this basic underlining of a free market economy leads me to doubt that you’ll ever enjoy success.
January 23rd, 2007 at 1:15 pm
92. Casey Serin said:
“I’m learning that its best for me to keep my mouth shut about my thoughts on 401Ks, college degrees, and working regular 9-5 jobs.”
It’s what you say about these topics that enrage the masses, Casey. Because what you say makes little sense. 401k’s are not inherently bad (my company matches up to 4%) and neither are 9-5 jobs. There is nothing wrong with the way many of us choose to live our lives yet it’s glaringly obvious that there is definitely something wrong with the way you choose to live yours based on the amount of debt you’ve incurred.
The fact that you are in such deep sh#t and won’t take the advice of many who are fiscally (and otherwise) more responsible than you are can be extremely annoying.
I come here mostly to read the responses. I barely scan your blog topics because it’s usually what I consider either flame bait or regurgitated guru nonsense. I think deep down I am truly hoping you’ll eventually get a clue. C’mon, Casey… make me a believer.
January 23rd, 2007 at 1:18 pm
@ Jack Bauer
You think we could get the count down effect going on this site? God knows there is enough drama from CS but the tick-tock could add a nice effect as the jail time comes closer and closer…
January 23rd, 2007 at 1:24 pm
Casey:
Please take a look at this link:
http://www.smartmoney.com/debt.....fl=myyahoo
and reconsider the whole bankruptcy thing. Then read this:
http://finance.yahoo.com/exper.....life/21845
and reconsider real estate’s “get rich quick” possibilities.
While I agree with your friend Duane that you’re a “poster child” for the damage these idiot gurus can wreak, I don’t agree that you’ve completely eschewed their advice. You’re obviously so enamoured of the idea of making lots and lots of $$ asap without a lot of effort that you’re worshiping in the cults of these RE idols.
PS — anyone who advises you not to declare BK doesn’t have your best interests at heart. It’s that simple.
January 23rd, 2007 at 1:26 pm
My favorite Casey Quotes:
“I’m more of a self-employed type of person so a regular job is hard for me to stick to”
“being self-employed takes MORE discipline than 9-5″
“I never again want to manage my own property…I don’t have the attention-to-detail Guardian personality for it”
You don’t have the discipline for a 9-5, so you are going to be self-employed which takes more discipline? Lack of attention to detail is understating it, you are too lazy to open the mail.
Get a job and and dabble in real estate on the side. However, with your lack of work ethic and lack of attention to detail, you will continue to lose your shirt.
January 23rd, 2007 at 1:34 pm
Yo yo yo!
Right on! Casey, mah’ man. ‘S coo’, bro. ah’ been dinkin’. Maybe ah’ should let Mocha mosey on down on waaay down t’Modesto wid Be’zhawn and Starkeiha. WORD! Mocha looks some lot likes dat dat fine femahnaine ladee chick A–, but wid some little darka’ skin and some supa finer Booty. Slap mah fro!
(I knows dis cause I’m some real-uh-ta’ and ah’ seen dat fine femahnaine A– ladee some few times).
Man dat dat fine femahnaine ladee chick be hot but Mocha be HOTTER. Maybe I’ll let ya’ sit in de back wid Starkeisha and Mocha. WORD!.. Man we be havin some time! Right on! ah’ can’t wait t’get t’de courdoue and watch. Lop some boogie.
It some fast roll, mah’ man. ‘S coo’, bro. Right off 99, waaay down J street. Man! Dey gots some whacked waaay downtown in Modesto. ‘S coo’, bro. De streets all go off at some kind’a funky 45 degree angle fum de west uh de city. Slap mah fro! We’ll dig us some 40’s and plum watch de acshun! Right on! You’s in?
After we’s watch all da action I’ll take ya ta uh restaurant. A real one. Barbecue. We’ll gots lunch an’ uh few mo’ 40’san’ be on our way. We’ll be back by 3:30 or 4:00 at da latest.
You wiff us?
PS: Be’zhawn says he can cruize, so ya won’t gots ta pay fo’ gas.
w0rd
January 23rd, 2007 at 1:35 pm
There once was a fellow named Casey
His real estate deals were quite spacey
That incomparable scammer
Belongs in the slammer
And should be dispatched like John Gacy!!
January 23rd, 2007 at 1:38 pm
@ Stephanie-I am passed slapping mode, I am into full “Jack Bauer, tie a plastic bag over your head, cut your finger off and feed it to you mode”
@Ogg-If Casey hires you to manage his complex you call me if you have any problems with unruly tenants.
BTW, Casey even CTU provided me with a 401k, nice match also. Yes it is risky as are all investments which is why you diversify. Plus, the risk is about a billionth less than one you have done.
January 23rd, 2007 at 1:49 pm
“I figure there are 3 types of people here: 1) train-wreck watchers 2) people interested in real estate 3) people facing foreclosure”
I would guesstimate that 90 percent of your audience falls into category number one. As far as number 2 and 3 are concerned, coming to you for real estate advice is like asking Lindsay Lohan advice on the path to sobriety or asking Mel Gibson to sponsor a Bar Mitzvah at the Wiesenthal Center.
http://drhousingbubble.blogspot.com
January 23rd, 2007 at 1:49 pm
Good job selling your two sponsors. Probably the smartest post I have seen you make yet.
January 23rd, 2007 at 1:50 pm
casey,
stop belittling people that go to college, get a degree and then get a “9-5″. i have comp sci friends that make more than you as interns.
our solution might not be sexy. it might be conservative or elitist. but guess what? it works. the sum of five summers of research internships for me results in
January 23rd, 2007 at 1:51 pm
“I have a feeling though that the larger amount of critics here just want to see me fail one way or another. ”
Very few want to see you fail. But they are pointing out that your actions in the last three months are going to guarantee you failure.
January 23rd, 2007 at 1:55 pm
“From a sponsor’s perspective its a risky thing just being on my blog because of all the negativity. ”
Wrong. What you have is valuable. It’s called traffic. Doesn’t matter if your site is negative, positive, upside down, rightside up, if you’ve got the traffic, it’s yours.
You have enough traffic now to ensure a $1500 a month income. If you aren’t making that much per month then you are seriously doing something wrong.
January 23rd, 2007 at 2:15 pm
There’s just this remarkable lack of understanding of how relatively efficient markets are. To use the standard stories, Our Boy’s business plan is basically about finding a lot of $20 bills lying around on the street. This is a bad, futile plan: other people will pick up those $20s, especially since Our Boy isn’t the fastest at finding these stray bills.
This is basically what your “$5K/month passive income” thingie amounts to. You want someone to loan you money, and you would use that loan to somehow squeeze out that much income above your interest service. So why wouldn’t someone else, who’s faster on the uptake, pick up that investment before you do? This is the equivalent of finding a load of $20 bills just lying around, only that we’re talking about an investment worth roughly $1M. Yes, you need about $1M to buy around $5K/month of passive income, and I don’t mean $1M funded entirely by loans.
Yes, there are sometimes arbitrage opportunities, but arbitrage opportunities are competed away quickly and ruthlessly. Hey, there’s even space in the market for real estate investors to bring distressed properties back into the market, but that’s actual work, in terms of arranging finance, doing rehabs, etc., skills that you haven’t demonstrated.
And there’s no point in ducking the 401(k) discussion, as your statements basically show your lack of economic or financial sense.
January 23rd, 2007 at 2:16 pm
“Working on self discipline and personal development is a passion of mine”
Working on self discipline means you don’t actually want it.
Planning and plotting and organizing and sorting are all ways to dodge having discipline. (I don’t mean that it’s bad to plan, I’m talking about the “I won’t act until I’m organized” excuses)
Discipline isn’t gradient.
It’s either on or off. At any moment you’re either solving your problems or you aren’t, you’re going deeper into debt or you’re not. ‘Working’ on discipline is meaningless. Unless you’re deranged (not out of the question), you know by now what you would be doing if you were disciplined. If you’re following that course, congratulations, you now have discipline; just keep going and you won’t lose it.
If you instead are f^%king around trying to make sweet deals and operating on fantasies rather than reality, then you are not, in fact, even trying to have discipline. You are instead telling yourself that you’re ‘working on it’ so that you feel better. Just like the people that have The Screenplay or The Novel that they’re never going to finish, but refuse to admit it so they can believe they actually care about writing.
There’s a good moment on House MD where he comments that people don’t actually want the things they talk about; if they really wanted those things, they’d go get them. The ones that really want The Screenplay sit down and write the bloody thing; the ones who really want discipline live it every day.
January 23rd, 2007 at 2:16 pm
Some fun with words …
Anagram:
Casey K. Serin = A risky scene.
Palindrome (for the Trail(s) he will be attending):
Serin evening? Oh … hog nine venires.
January 23rd, 2007 at 2:18 pm
Duane LeGate. President of both HBN and REI.TV - “Casey is being compensated at a rate better than he was getting for his Google Ad Sense.”
Are you saying you are paying Casey more than the $70 he earned in October? Or more than the $5k he would have earned for the full month of December, if he had not got done for click fraud?
There’s a huge difference between the two. Just as there is difference between what Casey says and what the actual truth is.
My guess is you are paying him some sort of commission or kickback on sign ups that are generating from this site.
———————-
@ Casey - You talk about the magical $5k passive income target per month. Do you not realize your monthly burn rate is around $20k per month? You and your free spending G. couldn’t even afford to live in one of your overpriced sh*tboxes making $60k a year.
As far as forgetting about RE for six months, you’ve pretty much done that with your POS properties the last six months.
January 23rd, 2007 at 2:23 pm
Wow, I just saw the casey flowchart for the first time, classic!!!
http://www.freewebs.com/creepy.....Chart.html
January 23rd, 2007 at 2:25 pm
hi casey!
good work on getting ads but is the post from duane authentic - he seems awfully condescending and unprofessional to be saying things like ’stop chasing the shiny objects’
the people you choose to listen to constantly amaze me! fiind some positive influences
January 23rd, 2007 at 2:27 pm
Duane Legate:
You have a lot of work to do. Aside from his delusions of being a RE mogul, our friend is inherently lazy, wants something for nothing, has no concept of real work, and has no concept of money management. He doesn’t understand living within a budget or post-poning instant gratification, whether it’s charging a bunch of stuff on a credit card or rewarding himself with a Jamba Juice while at the same time overdrawing the account that he purchases said juice with, making cost of said juice $37 some odd dollars.
I hope you have experience de-programming brainwashed cultists, because in all seriousness, that is almost what you are dealing with here.
Good luck to you.
January 23rd, 2007 at 2:28 pm
casey when will you stop lying…
i couldnt find the reference,
where exactly did casey say ill give them an plug (essentially no longer really making a new blog update but a psuedo advert not even disguised as a casey update)
we’ll see how it goes?
casey thats like BMW wheatpasting my car and saying we’ll figure out some compensation when we see how it goes…
casey, nobody really will go buy a beamer and say i saw you put graffiti on my.dumberer’s car,,even if 500 people did, whos to say casey can make them pay anything…
you see casey you GOT SUCKERED AGAIN!!!
they got something for nothing or the promise of an undefined something on undefined terms,
when the sheet hits da fan they will prob just be tipping you $20 into your commisary account (thats your prison allowance, sorry no jamba juice)
YOU ARE NO NAIVE, YOU KEEP GETTING TAKEN OVER AND OVER AGAIN,
January 23rd, 2007 at 2:31 pm
@5. Casey Serin
There is one other type that you fail to mention: those who want to fail and are actively taking steps to push that along.
Casey, the mortgage fraud thing is really picking up steam. From CO to AZ to FL, lots of people are doing sneaky things to get money from the lenders. As the market retreats and appreciation is gone, these things are being uncovered.
I’m not saying that you were defrauding the lenders on purpose just to get the cash back, but your story has all the elements of the intentional fraud and can be spun so.
You won’t shut down the blog….fine. But make some changes so the haters go away.
1. Report on the activities that involve your situation. Contacts with banks, lenders, buyers sellers.
2. Report only factual information. No more supposition, no more ‘I think…..” or “I’m going to…..”. No more dreaming about the future. If you have a plan to get you out, post it as an full plan (including steps, benefits, intended outcomes and risks. A short list of goals or intents is just more meat for the tigers.
3. No more personal information. No bills, no statements, no cleaning out the closet stories. No Jamba Juice or Starbucks This is just fodder for the negative comments.
4. Be transparent. If you are going to share, share completely. If you are going to keep things private, don’t mention it at all.
5. Be active. Post twice a day. Short posts about things you’ve actually done to extract yourself.
6. Read your posts before you publish them. If they contain anything extra that is not directed to RE, rewrite them.
Here’s the problem…… The haters make the blog interesting and make up most of the traffic. This drives up the value to the advertisers. But the haters won’t buy from your sponsor, only create click-fraud. If the haters go away, the traffic on the blog will be very low.
It’s a classic Catch22:
- You need to feed the haters to create the traffic
- But the haters traffic is detrimental to your situation and to your sponsor
If you get rid of the haters, you get rid of your traffic. If you keep the haters, you…..well…..get this type of blog.
January 23rd, 2007 at 2:34 pm
“I believe that Casey has talent. It is raw and so is he, but I believe that talent can be developed”
No dis-respect intended. And believe me, I am not trying to sound condescending here, but are you kidding me?
To draw an analogy: a person looking to find the next golf legend decides to visit the local course. Before him stand several individuals. The first one, despite his young age, has incredible talent as evidenced shot after shot. A second individual stands adjacent to the first. A little bit older and less consistent, but still a decent talest nonetheless. The last in line is a slightly older kid, working feverishly and trying desperately to strike a good shot. Yet despite his raw desire, the shots often miss their mark, leaving the youth frustrated.
Now you, as the individual looking to find the next golfing legend, has a decision to make. Whom do you choose?
The point is, there is no raw talent here. The paper trail itself speaks volumes as does the posts of our resident “entrepeneur”. While one can applaud giving it the ‘good ol’ college try’, this is a no win scenario.
Raw talent is evidenced at a young age. What Casey has demonstrated is that he is looking for the least common denominator: instant gratification with minimal effort. And his mind has been poluted by the rhetoric of shills such as Kiyosaki, the P.T. Barnum of the modern era.
You want raw talent to exploit? My suggestion would be to find an individual with a proven track record of SUCCESS. The same logic applies in all other arenas, so why not here? If you were a hiring manager at a company, do you hire the person with a proven track record or do you opt to hire the one with a history of failures?
January 23rd, 2007 at 2:35 pm
Yup, sean-sisb is correct.
But you’ve been told many times to get other ad revenue, advice you ignore, as usual. Paster the site with ads and start repaying your debts!
I wish I could get 1500 per month doing a blog, but my story is too, too boring. Same bank account for 33 years, never bounced a check, never paid a bill late, ….boring, but I do have a high FICO.
January 23rd, 2007 at 2:43 pm
I love the 9 to 5er posts about how Casey isn’t headed toward failure.
Now you see how it works, cubers. Casey is making a cool $2,000 a month in sponsorships on this web site. That is passive income! Sweet Deal! Cost? Pennies for hosting compared to the returns.
A little more of that and he’ll cover his credit card payments. Then short sales or foreclosures and the homes will be gone and he’ll be back in the green.
You see.. some of his investments didn’t pan out. But those are getting cleared out and he will be left with a nice chunk of passive income and no need for a 9 to 5 cube job.
$2,000 a month is $24,000 a year. It is the same as a FULL TIME JOB BEING PAID $12 PER HOUR.
That’s more than anyone working a horrible restaurant job makes and he doesn’t have to do ANYTHING.
That is how you make money. Watch and learn as Casey fails in one area but then figures out what went wrong and ends up with real income.
Casey, that is a sweet deal. I sense more sweet deals around the corner and with the real estate market picking back up (haters.. check the homebuilder stocks again today, up again, look at TOL.. then tell me the market isn’t going back to what it was) you should be making money in real estate again in no time flat.
January 23rd, 2007 at 2:55 pm
I admire your honesty, I to got going on the blog thang’ to help others…and it’s nice to see their results…
January 23rd, 2007 at 2:57 pm
Casey said:
I’m learning that its best for me to keep my mouth shut about my thoughts on 401Ks, college degrees, and working regular 9-5 jobs.
There’s nothing wrong with acknowledging that you, personally, don’t have the temperament or inclination to try a particular style of investment, or pursue a 4-year degree, or do salaried work. However, you DO alienate even your more sympathetic readers when you generalize to say that these things are a waste of time for everybody.
There exist solutions to many of the issues you cite with respect to fund investment:
You’re correct that you can’t predict the movement of the stock or bond market in the short term, but the same is true of the real estate market. However, you CAN control the degree of your exposure to particular sectors of the market through careful index fund selection. Once you find an allocation that you know you can stick with, you can ride out unpleasantness like the 2001-2003 market dip without losing a bit of sleep.
A lot of 401(k) plans are laden with extra fees. You can invest just enough money in these to get matching funds from your company, and then roll over the 401(k) balance to an IRA at the first opportunity. Or you can petition your HR folks to add lower-cost options.
You also have the ability to invest in an IRA, Roth IRA, or taxable account on your own. Here you can control costs by selecting no-load funds without redemption penalties. You can minimize the tax bite in a taxable account by purchasing index funds (which have very little turnover), using tax-loss harvesting methods, and selling funds with capital gains only when you really need the money.
Naturally, stock and bond investments shouldn’t be the only ones you make, but they should have a place alongside real estate in a well-diversified financial plan.
Please stop by the Diehards message board (http://www.diehards.org) if you’re interested in learning more about index investing!
January 23rd, 2007 at 3:03 pm
==> Casey said “(I might actually use them to help me find a new Realtor and/or investor for my New Mexico and Burdett properties).”
Casey - why would you NOT use them if they are sponsoring you? That confuses me.
==> Casey said “they are very picky about selecting their local investor partners. For example they wouldn’t let me take the Sacramento area”
Yes, that does speak positively of their judgement.
January 23rd, 2007 at 3:08 pm
==> Casey said “…I had to find a way to monetize this blog but I didn’t want to go with Google AdSense …”
I’m confused again - did you even have the choice to use them? Aren’t they the ones you used, then had too many clicks from your viewers, and they cancelled?
January 23rd, 2007 at 3:08 pm
Re. the train wreck/real estate/foreclosure breakdown - I think a lot of us who have fallen into the trainwreck category started in the real estate category and we are quite knowledgeable about it - it was only when advice was repeatedly ignored that we added train wreck watcher to our resumes…
January 23rd, 2007 at 3:11 pm
No, I’m not selling email addresses, if I was, I think by now you would have seen more evidence of that… and I’m not deleting posts just ‘cuz I feel like it… I told you several times I only delete stuff that’s too vulgar or too much of a personal attack and also posts that talk too much about G., A., Chris and University, only because I was asked to not have full-name references to those entities on the blog. Yes, of course you can learn about this stuff on other blogs talking about me but be careful because a lot of it is blow out of proportion is down-right incorrect.
Now some updates on Modest foreclosure:
Talked with Larry the Modesto agent and he said the lender is unwilling to negotiate with him because the authorization to release information I signed doesn’t look legitimate. So I had to call and give them verbal permission to allow my agent to negotiate on my behalf.
Also Larry was told yesterday that they will usually need a non-refundable fee which equals to a month’s payment to delay the auction tomorrow. I told him I don’t have any money so he is going to try to have the buyer pitch in.
We have a strong cash buyer who is offering 270 and is ready to close as soon as title can do the paperwork. So at this point I’m waiting to her from Larry to see how it goes.
We’re talking 11th hour type of stuff here. I wish I would have found out about Larry earlier. So far he has been working very hard to get this thing through. I appreciate hard work when I see it.
Duane LeGate’s of House Buyer Network comments: thats the real deal, not a troll. I’m thankful for Duane to consider working with me and helping me get on the right track. I appreciate his encouragement for me to pay back the money or settle the debt in an honest way one way or another.
January 23rd, 2007 at 3:17 pm
lets first start with a compliment:
things have changed. it seems.
Casey is getting things done.
he is working on (or having other ppl work on) his properties.
thats a big difference from a couple of days ago… he wasnt even moderating back then!
keep it up Casey, I am not a cheerleader, I just hope you dont do as much damage as I feared a few days ago. you are still headed for disaster, but maybe this helps your case a bit.
oh, and stop dreaming about RE. not gonna work for you!
and as for the mrs.: I dont think she’s that hot. just an average, girl next-door. nothing to complain about, but nothing to get exited about either (by the blogreaders).
January 23rd, 2007 at 3:20 pm
Thanks for the advice Casey!
Based on your fantastic outcome, I will avoid these like the plague! And I will tell all my friends to do the same.
If they are associating with you, something is terribly wrong.
January 23rd, 2007 at 3:22 pm
“Working on self discipline and personal development is a passion of mine”
I don’t want to see you fail, and I don’t care one way or the other if you eventually succeed. It’s your game to win or lose. But I would like to see you eventually face reality. Your self-perception does not in any way reflect the truth. You haven’t shown discipline in anything since you’ve started this blog (early rising, opening mail, moderating, posting, responding, taking care of your accounting, etc. etc. etc. x infinity).
The biggest problem here isn’t your investment methodology, it’s you. Everything else is moot until you fix yourself. Honestly, what are your strengths? I’m sure there are a few that you’ll list off of the top of your head, but what evidence are you basing that on? You can’t focus, finish a task, prioritize, or even remember when your freaking homes are getting foreclosed. And yet you say things like “self-discipline is a passion of mine”. You don’t even know how to be honest with yourself much less anyone else.
I honestly can’t see any reason why you would ever be a successful real estate investor. Just saying something doesn’t make it so. If you’re so disciplined and determined, what steps forward have you accomplished (spare me the fail forward b-s) since you started this blog? You need to do some soul-searching, holmes.
January 23rd, 2007 at 3:23 pm
“I wish I would have found out about Larry earlier. So far he has been working very hard to get this thing through. I appreciate hard work when I see it.”
The great Victorian humorist Jerome K. Jerome put it rather more eloquently in his classic ‘Three Men in a Boat’:
“I like work: it fascinates me. I can sit and look at it for hours. I love to keep it by me: the idea of getting rid of it nearly breaks my heart. You cannot give me too much work; to accumulate work has almost become a passion with me: my study is so full of it now, that there is hardly an inch of room for any more.”
January 23rd, 2007 at 3:23 pm
The truth is Casey is going to make it. He has no fear. He feels no pain. No embarrassment. He is incredibly smart or very stupid. It doesn’t matter, both types get rich. That’s what he wants, that’s what he is going to get!
Please remember me when you make it big Casey.
January 23rd, 2007 at 3:25 pm
Has Chris fired you yet Ca$ey ?
January 23rd, 2007 at 3:31 pm
==> Casey said “…I never again want to manage my own property. …I’m always talking about having a trusted property management company to runs it all. Of course, I would still need to “manage the managers” so I do need at least some basic understanding of the process.”
Casey - I (in multiple previous incarnations) and others keep asking you the following question, and can’t get an answer:
You keep talking about “team of advisors”, having “property managers” do the real work, etc, etc…
*** What value do YOU bring to the table? ***
You don’t have any money, you don’t have experience, you don’t have leads, you don’t have good (non-scam) contacts, you don’t have organizational or financial skills. Why, then, would experienced people be on “your team”. In fact, why would they want you on “their team”?
Serious question that you should be asking yourself.
I’m in consulting and you can’t survive in this business without knowing things your client doesn’t know, and/or being able to do things they can’t do. If you don’t add personal value, you’re dead.
Assuming you’ve read this far (and I don’t; you appear only to do a quick scan for G’s name, personal insults, Chris info, etc) —
WHAT VALUE DO YOU ADD? You really need to think this through and be honest with yourself.
January 23rd, 2007 at 3:43 pm
Well, it’s nice to see Duane LeGate saying many of the same things publicly to you that we’ve all been saying for months.
Duane - I LOVE your “shiny” statement; others have used that word in the past - maybe you can get through to Casey where others weren’t able. Good luck (you’ll need it)!
January 23rd, 2007 at 3:49 pm
“We’re talking 11th hour type of stuff here.”
Casey - when you wait until the last minute to do things that folks told you to do months ago, a number of tricky things need to come together in a very narrow window. It usually doesn’t work. You had the same problem when you went to play with RK’s team in Phx instead of mailing the Dallas DIL - that 2 week delay cost you your first foreclosure.
“I appreciate hard work when I see it.”
That’s a good step - you know hard work when you see it. Now, please, please learn to do it.
January 23rd, 2007 at 3:55 pm
Casey: Where’s that Top 5 list you said you’d post?
Still waiting…
You’re loyal critic (Not a hater)
Dolph.
January 23rd, 2007 at 3:56 pm
…and p.s. I meant to put You’re instead of Your (correct) just to mess with you.
Bwahahahahaha
January 23rd, 2007 at 3:57 pm
Fair enough on the University comments. You answered, I do not understand NOR do I accept the explanation, but I will honor that.
Now back to picking on your lazy ways.
January 23rd, 2007 at 4:04 pm
Casey, where’s the courthouse for tomorrow sale? What street and town? And what time is the sale?
January 23rd, 2007 at 4:09 pm
Holy cow, I didn’t realize it was A** who dropped you, I thought it was Larry. So no Sacramento short sales then? And we have to call her A now? How long before we have to refer to Larry as L. Will Savvy Chris eventually be SC? Duane, I’ll save you some time and go ahead and dub you DL now. Plus, it works out in your favor because you can then say stuff like “Yo flippas, keep it on the DL” in your ads, which sounds smooth and the ladies will probably dig it.
For the record, I think harassing A and DL with emails and phone calls is pretty lame.
January 23rd, 2007 at 4:12 pm
Casey, I don’t care if you post this or not, but please, go back to comment # 94 in this thread, written by “T”. It says everything I wanted to say, and a lot that you need to hear.
Print it out, stick it to your desk, and read it until you know it by heart.
January 23rd, 2007 at 4:19 pm
Endgame Observer…. what do I bring to the table? I believe I have been blessed by my Maker with an intense curiosity and the ability to spot opportunities (and being in the right place and the right time or the WRONG place at the WRONG time depending on context).
Currently I am in the position to bring BIG opportunities/deals to the table and bring key people together. How?
I have made lots of interesting contacts through having so much exposure. People email me on a daily basis with opportunities. I actually have too many. Everyday I open my inbox and mine my emails for gold nuggets of opportunities and the makings of a sweet deal.
Even this connection with Duane and of House Buyer Network and Real Estate Investors .TV for example… it sort of just presented itself without me having to actively pursue it. (Thanks to John of Forsakencraft.com).
How about my meeting with Robert Kiyosaki (Thanks to PrLinkBiz of NoLimitsLadies.com). No matter what you think of RK, it’s a rare thing to be able to talk to that guy in person. What about that old deal with the East Coast mentor? Sure I screwed that deal up but that’s not the point.
The point is opportunities just come to me. It’s kind of magical. I just have to be careful to take advantage of it properly. Sometimes I have to go with my gut, other times my gut is too impulsive so I have to go with my logic. Sometimes both.
I can’t take the credit though, I was just writing my story and not even asking for any of this exposure. However, when the exposure came I ran with it…. and still running.
A good friend of mine told me that starting this blog was the single worst AND the single best thing I could have done.
The idea of starting this blog came to me back in late August 2006 and I seized the moment and launched it within days. From the very start I have been brutally honest (sometimes too honest in a naive way) and the blog become controversial and caught on fire in the media. Now this blog is opening all kinds of doors. It’s a crazy adventure!
Having said all that, I have several good things in the works but nothing is solid enough to really speak of. Every opportunity takes time to put together and lots of “putting the pieces together” in a creative way.
That’s why my ideal job would be to devote 100% of my attention to establishing connections, identify opportunities, and putting together deals on high level - brainstorming and making a rough draft.
Once there is a draft, it goes to the professionals and bean-counters to spot holes in my ideas so we can improve upon it until we have a sweet plan. Then we delegate the execution of the plan to people who are highly trained in each particular area.
That’s how I see myself operating. So I need to surround myself with really smart and capable people who genuinely care for me and whose advice I can trust. Building such a team will be one of the keys to moving forward.
Man I wrote a whole essay….
So to sum it up…. here is what I bring to the table: creativity, curiosity and a positive attitude to spot opportunities and make connections and then the courage (or naivety) to take opportunities head on.
January 23rd, 2007 at 4:21 pm
Hey Casey,
You say your in Real Estate right. And you have said that you want $5000 per month in passive income.
Well real estate is all about numbers, no emotion, just numbers. You’ve written down your goal of $5000/month in passive income. Can you explain exactly your plan to acheive this. Please provide as much detail as possible. For example, how many houses a year do you need to buy? At what price? What is the expected mortgage? What are your payments? Please give a detailed return on investment - showing the NOI, cash on cash return etc..
Loads O Money
January 23rd, 2007 at 4:25 pm
MUNCY FORECLOSURE DELAYED! (90% SURE)
Just heard from Larry, he finally got a chance to speak with a negotiator at Countrywide and she said that she put in a request to delay the trustee sale. She told him she is 90% sure it will be delayed. So I guess I will not be going to Modesto tomorrow after all. Now we’re going to wait to hear back to see if the 270 offer is going to be accepted or not.
January 23rd, 2007 at 4:27 pm
Man it’s been a long day… I’m gonna go take a nap… be back in an hour or two.
January 23rd, 2007 at 4:35 pm
Bofore my nap…
@Loads o Money: you’re trowing too many hard questions… at me but those are good questions…
Here is a start. The basic idea I got from David Lindahl the apartment guru who’s bootcamp I attended last year is this. If you’re buying undervalued apartments from distressed sellers the way he teaches you can expect the following:
$2,500-3,000/mo NET cash flow for every $1,000,000 of value. (including all costs, management and debt service)
I’m sure there are many assumptions that go into that and a down payment somewhere in there to account for as well.
Now say if I borrow the down payment money (via a partner or an unsecured secured line of credit) the cash flow is going to be less to account the additional debt service or cut to the partner.
Again this is just a start and if that rule-of-thumb is correct than to me it doesn’t seem so hard at all. Very achievable.
January 23rd, 2007 at 4:38 pm
@Bubblewatcher
“PS — anyone who advises you not to declare BK doesn’t have your best interests at heart. It’s that simple.”
Two reasons I think he should not.. 1) He needs to be held accountable for the financial losses of others. 2) I think that if he files bankruptcy, the lenders will come after him for fraud. That is why I am suggesting he contact the lenders ASAP and work out a plan.
I am not schooled in bankruptcy law. What I believe though is that he should make EVERY effort to make those who lost totally whole.
@Vague Guru
• “Are you saying you are paying Casey more than the $70 he earned in October? Or more than the $5k he would have earned for the full month of December, if he had not got done for click fraud?
There’s a huge difference between the two. Just as there is difference between what Casey says and what the actual truth is.
My guess is you are paying him some sort of commission or kickback on sign ups that are generating from this site.”
It is more than the 70. It is more than the last check that I am aware of. I have never heard the 5000 dollar number, but it is not that much. I will let Casey disclose our arrangement if he wishes . No, I am not paying any kickback or commissions.
@Jobu
• “I hope you have experience de-programming brainwashed cultists, because in all seriousness, that is almost what you are dealing with here.”
You are CLOSER to the truth in that statement than you will ever know.
@Mayhem
No dis-respect taken and I don’t think your post was condescending. In your analogy, the last golfer keeps whiffing, and finally gets fed up and sings a beautiful melody. The golfer HAS talent, just not in golf, but singing. In this analogy…. I sign him to a record contract and let him play putt-putt with my used clubs. The talent I was referring to has NOTHING to do with real estate. The kid has good tech skills. I let 2 of my top tech guys speak to him and both said he has great potential.
BTW, today we officially launched our new website. Our traffic exceeded our wildest expectations and when I was told of the development, I said “SWEET”. I couldn’t believe it… I almost choked on my tongue.
January 23rd, 2007 at 4:44 pm
“Then we delegate the execution of the plan to people who are highly trained in each particular area. That’s how I see myself operating.”
Casey, you will be successful if you start delegating your naps to someone else and instead EXECUTE. No one has gotten far by delegation only.
January 23rd, 2007 at 4:52 pm
@Duane LeGate-
Congratulations on your new ad campaign. I guess it was too late to buy signage space on the Hindenberg. May I please offer up the following similar advertising techniques and unique partnering opportunities in case another reader is looking for great publicity and has missed the Serin Gravy Train:
1. Product placement in the new Vanilla Ice video
2. OJ Simpson, spokesman for Ginzu Knives
3. Discount lighting at Enron dot com
4. Sago Mine Oxygen Bar
5. Sonny Bono’s Ski “University”
6. The Rosie Odonnell diet plan
7. Superdome Security Services
Good luck, dude. I’m glad you had some possitive conversation with Genious. I’m sure your decision to sponsor this blog will pay off- Casey never let’s anyone down who has trusted him or shown good faith.
January 23rd, 2007 at 5:01 pm
Before you take your nap answer this
Has Chris fired you yet Ca$ey ?
A simple yes or no will do
January 23rd, 2007 at 5:02 pm
“The point is opportunities just come to me. It’s kind of magical.” - Casey Serin, Iamfacingforeclosure.com
There it is folks, your quote of the week. Casey, you are on fire today!
January 23rd, 2007 at 5:02 pm
Ca$ey says
“So to sum it up…. here is what I bring to the table: creativity, curiosity and a positive attitude to spot opportunities and make connections and then the courage (or naivety) to take opportunities head on”
The only thing you bring to the table is the ability to get yourself in deep debt
January 23rd, 2007 at 5:03 pm
God, I feel like a broken record…
You can no longer borrow money
You can no longer buy property
How the heck are you planning to get people to invest with you when you can’t invest??? Who’s going to risk their credit for you with your current track record?
And you do realize that the vast majority of these ‘opportunities’ are either people who see you’re a sap and want to cash in, or else are people who just want to use you as a photo op to further their own goals?
Of course people are flocking to you, you’ve shown yourself to be a colossal sucker with your money. It’s kind of like joining a college fraternity to buy your friends, only your Hell Week is going to last a lot longer.
As for people that ‘care about you,’ business is not the place to be looking for that. Caring is for friends and family; in business people look out for themselves and for the company, but primarily themselves.
January 23rd, 2007 at 5:04 pm
Come on now, Casey. You are 24 or so and you have to take a nap at 4:27 in the afternoon? Are you just baiting us or what?
This is the kind of stuff that frustrates me / us - I was busting it, getting things done for my 9-5 job all day….until even 6:00!! Imagine that. And this is just for my job.
I can’t imagine the kind of hours and work I would be putting in if I were in your position - I mean really now, don’t you see what BS that seems to those of us that have been following you and hoping that you will occassionally pick the right thing to do???
Get up and get something done!!
January 23rd, 2007 at 5:07 pm
Tomorrow I have my annual performance review at my “looser” job. I’m definitely going to tell my boss that my best assets are “creativity, curiosity and a positive attitude.” Congrats Casey, this is worth at least 500+ posts in reply.
And what’s this about magic? You’ve got to be kidding me. Are we talking about Harry Potter or are we talking about real estate? A guy with a wand didn’t sell me my last house…although he DID have a pointed hat. Hmmm…
Anyway, Loads o Money is right: real estate is not about emotion, it’s all about numbers. Why would a “team of professionals” need someone to put together a “rough outline” of a plan? I can just see a board meeting now…
Casey: Guys, I have a plan. Lets buy an apartment building and make $5000 a month!
Team: Okay, but where are we going to get the money? What building should be buy? How should we deal with repairs?
Casey: Whoa whoa whoa. I’m the idea guy. That stuff is your responsiblity. I’m going to get some juice. Just send me the check.
Hope you’re having a nice nap.
January 23rd, 2007 at 5:12 pm
“That’s why my ideal job would be to devote 100% of my attention to establishing connections, identify opportunities, and putting together deals on high level - brainstorming and making a rough draft”
Yah, that’d be a great job! Shoot the breeze, brainstor, shake some hands….
Sounds like you may have a career in marketing.
Hardly work thou.
January 23rd, 2007 at 5:16 pm
“Man it’s been a long day… I’m gonna go take a nap… be back in an hour or two.”
hahahahahahashahahahha!!!!!!!!!!
no comment necessary!
January 23rd, 2007 at 5:17 pm
“So to sum it up…. here is what I bring to the table: creativity, curiosity and a positive attitude to spot opportunities and make connections and then the courage (or naivety) to take opportunities head on.”
Fluff, fluff, fluff…. But then again you’re the one 2.2 mill in debt…
January 23rd, 2007 at 5:20 pm
This marks the end of me reading your blog.
January 23rd, 2007 at 5:21 pm
Want to be taken more seriously? Stop using the phrase “sweet deal.” It makes you sound unprofessional. If you don’t believe me, ask your newest mentor.
January 23rd, 2007 at 5:26 pm
From another website…
Mr Legate comments on IAFF-
Very Interesting responses thus far…
I had a lady call and leave a message on my voice mail saying she had a house to sell, but there was no way she would use our service because we are sponsoring Casey’s website. She suggested he is a crook and a criminal and she could be right on both counts.
Please, for all of you to understand, there is NO WAY that I am endorsing Casey’s past behavior. I do not condone the seminars he has gone to, the methods in purchasing both in terms of “liar loans” and cash back.
I do not condone him chasing after every quick fix strategy. I am for him contacting every lender and making amends. I am for him owning up to his responsibilities, no matter how painful. I am for him settling down and focusing on first things first and put real estate aside for a while.. the longer the better.
That being said I have had MANY conversations, beginning shortly after this blog went up. I see a young kid who is blinded by the “i want it now” syndrome that so many people his age are affected with.
My goal in supporting this website is two-fold.
One, business. I want people to learn that there is a correct way to build wealth over time using tried and true investing strategies. I believe with the launch of REI.TV, I can offer people true actionable content for pennies compared to what it would cost to buy a book or tape. I think there are investors here that might benefit.
Two, personal. Maybe I have a soft heart. Maybe I am certifiable, but I think that Casey can be shown the light. It may not be soon, but I think I can help. I want to help Casey as much as I can as long as I see him going down the right path. I am not here to control him, but slowly guide him.
I am one of the few that doesn’t want Casey to file bankruptcy. That whole concept reminds me of making life into a monopoly game. Lose it all, then reshuffle the deck and start over. If Casey is ever going to do things right and have accountability… its as good a time as any to start.
I believe that Casey has talent. It is raw and so is he, but I believe that talent can be developed.
I have worked with people in almost as bad of shape and helped them turn their lives around.
If you choose not to do business with me because I am trying to help, that is a personal decision you must make. If I see Casey “veer” off course… you wont have any sponsor to complain to.
Since I refuse to comment on IAFF, I will respond here.
PLEASE…. you are choosing to sponsor a person with the full knowledge of his past potentially felonious activities. END OF STORY. That would preclude 99.9% of people, but not you.
WHY? Because you claim twofold- 1) You smell a quick profit by making money off of Casey, and 2) you are just such a nice, altruistic fellow.
Well, Mr. Legate, you can easily be the nice, altruistic fellow by;
1. Offering to list all of Casey’s properties for NO CHARGE by your various companies.
2. Offer free advice, counsel, or some other service to help Casey sell his existing properties and service his existing debt obligations.
3. You could have offered to help the poor shlubs that bought his Utah property.
IMHO, much like Casey chasing after the shiny object which you so pointedly alluded to, you have seriously tarnished the reputation of your companies forever by trying to make a quick buck by associating yourself with a scoundrel.
You have been a “sponsor” for one day and have already been directly informed by a potential customer that you have lost their business. Assume that this person will also dissuade anyone they know from using your services. Now, how much are you losing by your association with IAFF?
If you “have had MANY conversations, beginning shortly after this blog went up. “, and then made the conscious decision to put Casey on your payroll, I have no respect for you or wish to use your services. Like many others that are aware of Casey’s lifelong career of shady deals, I will go out of my way to avoid patronizing anyone even remotely associated with him. This includes you.
I highly doubt you last the week, but I wish you luck. The fact that you are already hedging leads me to believe that you are already second guessing the deal. Perhaps you should call Amy, Ramit, Prblinkz, or the Utah buyers to reinforce your decision.
January 23rd, 2007 at 5:33 pm
“I was told that they don’t just let any guru on there. The gurus and videos are hand-picked for quality, ethics (I like this) and actionable content. ”
Ok, when is this joke finally going to be revealed?
January 23rd, 2007 at 5:36 pm
How do deals come to you magically, Casey? Really now, kid!
Deals don’t magically appear and with your work habits, I doubt they’d stick around after the dealer gets to know you. Really, you want all the fame and glory with as little effort as possible. LIFE.DOES.NOT.WORK.THAT.WAY.
And don’t bring the Creator into this. God endowed ALL of us with the right of self determination. How we use it is up to us. You embarrass all good religious folks with that kind of comment. So God loves you more? How’s that? I’d guess not very much by the way you’ve buried yourself in debt! Add to that the chance your foreclosures screw over a lender or two. Wow, that’s very Christian, Casey.
You are either phishing (fishing) for posts or you are serious. I don’t know because you may not be as smart as I thought you could be with comments like that.
God endowed me…please. It’s Magic…please. You wonder why you have haters/critics? Wow.
January 23rd, 2007 at 5:44 pm
A few minutes later, your mentor says, “SWEET.”
I stand corrected.
January 23rd, 2007 at 6:17 pm
@ Cal in Rocklin: I can completely see this…it’s like a (good) SNL skit. Hilarious!
Casey: Guys, I have a plan. Lets buy an apartment building and make $5000 a month!
Team: Okay, but where are we going to get the money? What building should be buy? How should we deal with repairs?
Casey: Whoa whoa whoa. I’m the idea guy. That stuff is your responsiblity. I’m going to get some juice. Just send me the check.
Hope you’re having a nice nap.
January 23rd, 2007 at 6:27 pm
Congratulations on the new sponsors. Any response from Jamba Juice. Have you thought about a webcam to bring even more traffic to the site? People will pay to watch you sit on the blue ball blogging as you ignore a pile of forclosure notices.
January 23rd, 2007 at 6:32 pm
Is there anyone you have not lied to in the past year?
Let’s see,
*G
*Ramit
*A-y
*Utah Buyers
*Every lender you used
*Every bank you borrowed from
* Prblinkz
*East Coast buyer
*Chris
*Rich Dad/Dustin
*Adsense
*Your family
*Every reporter, newscaster,radio and TV station
*The readers on this blog
* Jerome Mayne
*Yourself
*God
You are a man devoid of morals.
January 23rd, 2007 at 6:43 pm
I find Duane LeGate’s postings somewhat quaint — the product of an obvious newbie to the world of our dear Casey. He says, “If Casey should veer off course….” [he will no longer be a sponsor]. Mr. LeGate, have you actually read any of this blog? The evidence lies before you. Casey has no course and seems to be quite incapable of doing anything but “veer.” Please review his 2006 goals and reported results for confirmation. This is your wake-up call.
January 23rd, 2007 at 6:46 pm
Q: How can you tell when Casey is lying?
A: His lips are moving!!! Bwha, Ha, Ha!
P.S. Casey, I insist that if anyone in the future refers to me, or my posts, they must address me as “V” or “VG”. Expect to hear from my attorneys if this rule is not followed.
January 23rd, 2007 at 6:46 pm
Hi Casey
This is my third message to you. It’s good to finally see you doing some hard work. I hope you will keep it up and won’t stop. That’s one of the reasons why I decided to post again. Another reason why I decided to post again is because I have more valuable advice for you on how to quickly get out of the financial grave you dug for yourself.
There is a very easy way to earn a truly passive income in which not to much work has to be done. You can do that by finding valuable expired domain names that have a lot of links and traffic and then parking them. It’s easy to do that because every day about 30,000 domain names expire and thousands of them have high traffic. Basically by buying them and then parking them you will be providing advertising. In other words by parking them, you will be receiving money for advertising that will be provided by these domain names. It’s very easy to find a domain name with which you’ll be able to earn at least $50 a month. In fact it’s so easy that it’s possible to find at least 10 of these valuable high traffic domain names in a single day. Imagine if you had 100 of these high traffic domain names. That would mean you will be making at least $5,000 a month with them. I believe with this idea you might be able to make your dream of making $5,000 if not more a month a reality in 2007. If you’re truly interested, just go to these websites to find out a LOT more about how all of this works: http://www.domainprofiteer.com and http://www.domainersedge.com.
PS: It doesn’t require a lot of capital to start making money with these domain names. I believe $500-$1,000 of initial capital will be enough. Good luck in getting out of debt and may God help you!
January 23rd, 2007 at 6:53 pm
Casey’s Guru says he gets “$2,500-3,000/mo NET cash flow for every $1,000,000 of value. (including all costs, management and debt service)”
If you make a 10% down payment and get $36K a year that is a 36% cash on cash return. Sounds like a SWEET deal…
You are lucky to find such a nice guru who is helping you and not just investing his own money in these high returns.
P.S. Not that I don’t trust the gurus but you might want to register the “myapartmentsarefacingforclosure” site before the gurus do since watching an apartment portfolio melt down is far more entertaining (an potentially more profitable for you due to ad revenue) than watching your portfolio of empty homes go back to the bank.
P.P.S. If you want a taste of apartment ownership how about renting the Muncy house to a family of illegal alien gang members. You can post stories how they shoot at you when you try and collect the rent and you can post the police reports that will be even more entertaining than the flowchart.
January 23rd, 2007 at 6:54 pm
Best Laugh of the Day, Courtesy of “Did He Really Say That?”:
“How long before we have to refer to Larry as L. Will Savvy Chris eventually be SC? Duane, I’ll save you some time and go ahead and dub you DL now. Plus, it works out in your favor because you can then say stuff like ‘Yo flippas, keep it on the DL’ in your ads, which sounds smooth and the ladies will probably dig it.”
I am on board with everyone who says they visit the blog for the comments. Casey’s gratuitous use of terms such as “sweet deals,” outrageous statements like “401k’s are too risky” and pie-in-the-sky delusions like “$5,000 in passive income” have ceased to generate a rise in my blood pressure like they used to. I simply don’t take a word of it seriously anymore. I’m here for the laughs.
January 23rd, 2007 at 7:00 pm
@ 131. Rob BBB
Hey, real Rob BBB. I think the guy at post 131 has stolen you identity and posted some really stupid comments. I am sure that it was stolen because you are always such a realist and so knowledable about everything.
Better take some action!
January 23rd, 2007 at 7:06 pm
“While working as a full-time real estate professional of some kind (agent / loan officer / wholesaler / rehabber). Best of both worlds?”
Casey, I am not a “hater”, but I can tell you that in lieu of your current situation, you shouldn’t think that you have the credibility to become a loan officer/wholesaler/rehabber.
Now, it’s bad enough there are many “unethical” people as Loan officers i.e. Now, the fact that your face has been seen by so many would not only bring a negative impression to anyone that you solicit for business, but also a negative impression towards the entire lending industry as well.
I would assume that people would think: “What’s next, an inmate in the federal Penn. becoming a Realtor?”
See where I’m getting at?
The best thing IMHO, is to lay low - VERY low from Real Estate until you have discovered what it is that you can do to alleviate your 2+Million - in debt situation. Once you have rectified your problem, then I could imagine that you could venture into Real Estate related income producing activities.
THe thing is, it’s not going ANYWHERE. People will always need shelter; so play the game properly and use your other talents to earn income. Stay out of R.E. for awhile - allow yourself to get a clear objective which alot of the time comes when we place ourselves “out of a situation” for a good deal of time;then when we are removed from our subjective thinking…solutions usually present themselves.
January 23rd, 2007 at 7:07 pm
“my ideal job would be to devote 100% of my attention to establishing connections, identify opportunities, and putting together deals on high level - brainstorming and making a rough draft.”
What you’re essentially describing is someone who works in sales. That’s a career you should take a hard look at. Salespeople are not tied to offices, often have flexible hours, and if their pay is commission based, they are in total control over their own income. Those are all things you seem to value. And you do have the positive, win-win mindset that a good salesperson needs.
Plus, a good salesperson can easily make a 6-figure income. Sweet!
In short, try thinking a little differently about what it is that you really want, and just maybe you can find a way through to something better to do with the rest of your life.
January 23rd, 2007 at 7:11 pm
@soaponarope
I must say I have fairly thick skin, but when someone crosses the line as it relates to me, my family, my friends or my companies, I will respond. You sir have raised my ire. I have my name on this website along with many others. My phone numbers are easily found. I do this because I can stand by everything I do and say. I don’t hide behind some BS username and stand and berate others as if I knew them or their intentions. I will respond point by point. If you have anything else to say, I invite you to have a discussion with me via phone before you make anymore asinine assumptions.
You wrote:
“Well, Mr. Legate, you can easily be the nice, altruistic fellow by; 1. Offering to list all of Casey’s properties for NO CHARGE by your various companies.”
Mr. SoaponaRope. I do not own any company that lists properties.
“2. Offer free advice, counsel, or some other service to help Casey sell his existing properties and service his existing debt obligations.”
I am offering and have offered and will continue to offer my best counseling, and advice.
“3. You could have offered to help the poor shlubs that bought his Utah property.”
If the people in Utah need my services or advice, have them contact me.
“IMHO, much like Casey chasing after the shiny object which you so pointedly alluded to, you have seriously tarnished the reputation of your companies forever by trying to make a quick buck by associating yourself with a scoundrel.”
I have in no way tarnished my reputation. If anything, I will reinforce it. I recently spoke with a person whose life spun out of control. This person turned to substances and literally lost everything… divorce, lost custody, lost their job, financially ruined, you name it. This person has been sober for 7 months and is not only gainfully employed, she is self employed at that. If you knew the situation, you would have wondered why I would get involved with someone like that. Why would I jeopardize my time, money and reputation in helping that person overcome their addictions and their problems associated with it. The answer is simple. They were worth helping. If one day you wake up and find that Casey turned the corner… that Casey learned a valuable life’s lesson and applied those lessons to build something of value spiritually and financially, you would probably be upset. I will help Casey as long as I see him trying to help himself. That was the deal Casey and I have had. If he wavers.. I’m gone. If not, I will do everything within my power to help him. If you want to be judgmental, that is your prerogative.
If you think I am about making the quick buck, sir you don’t know me. I do things the right way. Because of that I sleep well at night.
“You have been a “sponsor” for one day and have already been directly informed by a potential customer that you have lost their business. Assume that this person will also dissuade anyone they know from using your services. Now, how much are you losing by your association with IAFF?”
Dear sir just as I don’t have a listing service, I also do not help home buyers as the poster stated. If this person, or you want to start a campaign against me or the companies I operate, go for it. I don’t need your money nor theirs. My company’s succeed because of our values, and those values will win over your whining everyday.
“If you “have had MANY conversations, beginning shortly after this blog went up. “, and then made the conscious decision to put Casey on your payroll, I have no respect for you or wish to use your services. Like many others that are aware of Casey’s lifelong career of shady deals, I will go out of my way to avoid patronizing anyone even remotely associated with him. This includes you.”
Casey is not on my payroll. Again, you make assumptions. I have a sponsorship agreement with this website. Do you know the difference?
“I highly doubt you last the week, but I wish you luck. The fact that you are already hedging leads me to believe that you are already second guessing the deal. Perhaps you should call Amy, Ramit, Prblinkz, or the Utah buyers to reinforce your decision.”
The deal is as it is… there is NO hedging.. this was the deal from the beginning and I have been very upfront with Casey. He veers, I’m gone. If not.. I’m here. And btw, I have spoken with Amy and Prlinkbz. I have zero respect for those 2. You bash me and then hold them up as a standard? You should read the contract they induced Casey to sign. If you want to discuss someone trying to make a fast buck.. talk to them. I read the contract and was thoroughly disgusted. That is one more item I have been talking to Casey about. He needs to address that “contract” sooner versus later. I really want him to post the contracts to the website. That’s his call though.
Your cynicism says a lot about you. You have a problem with me?? Be a man about and discuss it with me.. not to me.
January 23rd, 2007 at 7:18 pm
CASEY SAID: “…It’s kind of magical”
um casey this aint dungeons&dragons, this is real estate,
supposedly a business….
im sure tim from montyray will have something to say about that….magical,,,HAHHAHAA
your freaking underwater, over your head, running on empty, skidding down a slippery slope during a rainstorm on bald tires….casey dont you get it….THERE IS NO MAGIC INVOLVED…
ok im going back to my chango statue to do some brujeria, im burning a pic of casey, i dont have a lock of your hair but hopefully my golden retriever’s tail hair will do…
i hope my magic spell doesnt go wrong…
casey’s latest post might be something about culebras,
after spending 3 hours setting up the right atmosphere for the photo shoot of him grabbing his stomach while sitting on a blue ball
January 23rd, 2007 at 7:22 pm
Casey said: “Talked with Larry the Modesto agent and he said the lender is unwilling to negotiate with him because the authorization to release information I signed doesn’t look legitimate.”
Why, at this stage of the game, is the bank suddenly concerned? They didn’t look at your loan info very closely. Curious!
Reading some of your statements and past performance, I began to wonder what success you would have in other professions. A few come to mind:
Casey as a NASCAR driver
Casey as an international spy and man of mystery
Casey as a rep for the Columbian cartel
Casey as Sec of the Treasury
Casey as CA’s Gov.
Casey as, dare I say it, Mr. President
Take a step back, close your eyes and imagine him in action.
January 23rd, 2007 at 7:23 pm
Casey - thank you for the quick, detailed response to my question! (sincerely)
Casey, in all honesty, you’re too “high” on your own abilities at this point in your life. Your response sounds good, but (at least on this blog) you’ve not demonstrated those skills and outcomes.
I really don’t see that any great opportunities have presented themselves to you, nor have you created any positive results from them. You overpaid for very expensive 3rd rate ‘education’, then bought the wrong properties for too much $, and as a result are now going to ‘lose your shirt’.
Again, kudos for the quick and detailed response.
January 23rd, 2007 at 7:27 pm
79. Casey Serin
January 23rd, 2007 at 11:49 am
Peter Sayas… I’ve done Russ Whitney and a bunch of other gurus.
So that’s how you make ends meet!
January 23rd, 2007 at 7:29 pm
OH, CASEY IS STILL IN HIS SWEET DREAM.. HIS OWN DREAMLAND..SWEET~~~~
SWEET~~~
January 23rd, 2007 at 7:46 pm
* Utah? Who has the money?
* New Mexico? (Your nicest property and the one you mention the least.)
* Chris? Do you still have a job?
January 23rd, 2007 at 7:53 pm
Casey.
I just thought of a good scam for you. The homeless. You can pose as them. Use thier information to purchase houses on stated income loans. Then you can sell all the houses and keep the money.
January 23rd, 2007 at 7:56 pm
Arizona is considering making mortgage fraud a felony, punishable by up to ten years in prison:
http://housingpanic.blogspot.c.....story.html
There’s no direct effect on California policies, but it’s an interesting read.
January 23rd, 2007 at 8:32 pm
“As for 5K passive income. Stop deluting (sic) yourself. Everyone with interest paying bank account have a passive income. You only need 1.2 million sitting in the bank earn 5% to have 5K passive income. The trouble is how to go from -0.5 million to 1.2 million.”
BT98 - I’ve decided to open a bank. If you give me $1.2 million to invest, I’ll pay you “15%”, or “$15,000″ p.a. On the subject, did you and Casey go to school together?
Casey, you are indefatigable. First I was amazed at your story, then a hater, and now I admire your pluck but feel sorry for what’s coming.
As for the odds of you becoming a multi-millionaire, it would have to center on amazing luck (I think 1/some number currently being calculated at Stanford) or some sort of value that you bring to the economy that is unique and in demand. Can you help me understand what the latter might be? Frame why you should be rich in economic terms - I’d like to learn.
January 23rd, 2007 at 8:37 pm
@ Endgame Observer — love the name.
Ok Casey I’ll bite. You’ve done such a nice job moderating and keeping us informed with what is happening lately I’ll throw you a bone.
“creativity, curiosity and a positive attitude to spot opportunities and make connections and then the courage (or naivety) to take opportunities head on.”
This is what you say you bring to the table, so here is the challenge.
NAME ME ONE OPPORTUNITY THAT YOU HAVE ACTED ON THAT WAS A FINANCIAL SLAM DUNK SO FAR.
You are upside down on all of your properties, facing foreclosue, not renting any of them out to at least help float the costs, pissing money way on more “education”/MLM “opportunities” and you couldn’t even get a “sweet deal” in writing before you put your new sponsor up.
So let’s hear it, what opportunity have you capitalized on?
I don’t think you bring anything but a whole lot of hot air to the table.
Casey a bit of advice, honestly.
If you walk into a room (or mortgage closing) and can’t tell in the first 2 minutes who the mark (read SUCKER) is, then it is YOU.
People ARE NOT bringing you “sweet deals” ’cause you bring so much to the table. They are bringing you these so called opportunities because they can make a buck (or thousand) off of you and your retarded situation.
Hmm…as usual this comment started out with the best intentions but has deteriorated into an all out rant…what can I say, you bring out the worst in me.
GameOver
January 23rd, 2007 at 8:39 pm
As an established “hater” I do have to say that I don’t quite understand the animosity expressed toward Duane LeGate. As far as I can tell, his business is legit and legal. Obviously, he’s seeking to benefit from the spectacle that is Casey Serin, but he’s not actively participating or supporting any of the less-than-perfectly-legal dealings of Casey’s. I think that he’s wasting his money because a vast majority of followers of this blog seem to be more interested in watching the trainwreck than jump into real estate investing.
I disagree that with LeGate about the bankruptcy thing, though. Barring a winning ticket to the Superlotto, there’s no conceivable way for Casey to extricate himself from this debt. After borrowing 125% of the home’s true market value and the market’s slipped an additional 10% (and he’s missed payments for several months), he’s well beyond what a short sale can do.
January 23rd, 2007 at 9:05 pm
I wonder if it is a good idea (legal-wise or image-wise) for any business to sponsor someone who has publicly admitted committing frauds/crimes, especially in the same field (Real Estate related, in this case) that the sponspor is in.
I also wonder if the sponsor has carefully consulted with its attorney, to making sure that there are legal terms written in the sponsorship document, to protect itself from any potential liability.
Regards,
With best regards,
January 23rd, 2007 at 9:12 pm
So I checked out rei.tv, which forwards to www.realestateinvestors.tv.
In the lower left-hand corner is a link to a guru named Don Derosa. For only $997.00, you can order his “Building Wealth With Real Estate” kit! His pitch looks just like the other scams that Casey suckered himself into:
“Who Else Wants to Defy All Normal, Common, Ordinary, Customary Boundaries and Restrictions On Making a Fortune?”
“I recently held a two-day seminar in Savannah, GA. It sold out in record time and people paid thousands of dollars to hear me explain real estate investing from A to Z.”
http://www.askdonderosa.com/sl-buildingwealth.php
“I’ll go beyond sending you a course in the mail. I’ll be your personal mentor and coach.”
http://www.askdonderosa.com/sl-short-sales.php
He signs these come-ons as
Don DeRosa
Real Estate Millionaire
~~~~~~~~~~~~~~~~~~~~~~~~~
Maybe this isn’t yet another scam. What do you think?
Casey says, “The gurus and videos are hand-picked for quality, ethics (I like this) and actionable content.” Um, yeah.
Somehow, I don’t think Duane LeGate will have his reputation tarnished by associating with Casey.
January 23rd, 2007 at 9:19 pm
walt526
I liked your post. Some of it was a little mean, but you seem like an experienced person speaking from hands on experiance.
January 23rd, 2007 at 9:43 pm
401K too risky……while you went out and put over 200K at risk.
401Ks are as risky as you want them to be - we decide how we invest based upon the risk we are willing to accept - there are different kinds of risk and different levels of risks. The method of analyzing and managing risk is called risk management.
Investing is a part of finance, as is risk. Investing in real estate is not any different than investing in other instruments. You still need to analyze it, and understand it.
Just pick up a few CFA courses, and buy the HP-12C calculator.
January 23rd, 2007 at 9:49 pm
Duane LeGate, all I can say is GOOD LUCK! I sincerely hope you can accomplish more than hundreds of people here have. It’s been like talking to a wall!
And any company that wouldn’t hire Kiyosaki is OK in my book … Don’t bother answering every poster here because some just like to troll.
While there may be some gain for you and your company, there is definitely going to be backlash. When we think of the honest people who struggle and save to do things right, it seems unfair that such a monumental “looser” as Casey gets to not only slide through life, but attracts mentors out of the woodwork, who all want to assist him despite his unyielding refusal to learn.
BT98: “Bill Gates bought the original DOS from a small potato programmer for 25K after he secure 50 million dollar contract from IBM.”
I didn’t know they could program potatoes! LOL
Casey: “Everything else I bought below market value and fixed it up and tried to sell at retail.” C’mon now. You know darn well you didn’t buy one house below market value. And you didn’t even finish fixing them up, did you?
I certainly hope one of the conditions for your parole is that you never, ever have anything to do with real estate again.
Re the 401(k)s: Casey, wouldn’t it be a sweet deal if for every $2 you invest in buying a house, I give you, just give you another $1? To keep and never pay back? Cause that’s what my company does for me with my 401(k), and to top it off, the $2 I put in is pretax. I’ve got it invested in a mutual fund doing somewhere above 20% annual return. Should that fund stop performing, I just switch it to one that’s doing better (and I do practice good asset allocation overall, just not in that account).
It sounds like you have been swallowing guru-nonsense hook, line and sinker, without doing any kind of investigation on your own. Have you even read the John T. Reed site that people have been posting?
You seem to think that because you, unlike so many others who take RE seminars, actually went out and DID something, BOUGHT something, rightly or wrongly, that you are entrepreneurial - motivated - a go-getter.
Did it ever occur to you that maybe the people who knew they didn’t have enough knowledge after a fluffy seminar or two to get themselves in hock might be the real winners? Don’t confuse impulsiveness with drive and business savvy!
January 23rd, 2007 at 9:55 pm
Duane LeGate said:
@Jobu
“I hope you have experience de-programming brainwashed cultists, because in all seriousness, that is almost what you are dealing with here.”
“You are CLOSER to the truth in that statement than you will ever know.”
and
@Mayhem
“I sign him to a record contract and let him play putt-putt with my used clubs.”
Well, I feel a tiny kernel of hope bubbling to the surface because of these two statements, Mr. LeGate. You appear to have accurately assessed the situation with our Casey and I hope you’ve got the patience of Gandhi cause that’s what you’ll need in order to constantly re-direct him away from real estate and toward something productive.
Godspeed.
January 23rd, 2007 at 10:21 pm
Dear Casey,
I want to discuss the possibility of switching your wireless phone service to the one Jack and I use. By using the discount code “Jack123″, he’ll receive $50 off his next bill and you’ll get one month of texting FREE!!
Call me. 1 (800) CTU-JACK
Love,
Jack Bauer’s Cell Phone
January 23rd, 2007 at 10:34 pm
How much did you pay for the modesto property?…Nevermind, I will just look it up on zillow.com
January 23rd, 2007 at 11:02 pm
Casey said
“I believe I have been blessed by my Maker with an intense curiosity and the ability to spot opportunities ”
You spot opportunities?
You gotta be effing kidding me!
As for all the people trying to sell you deals…that’s because they KNOW you will fall for ANYTHING! You are the GREATEST FOOL! RK even said so. You are the biggest sucker on the face of the planet!!
You think everything is magical? Ask your previous agent A** how magical she thinks you are. ASk the guy who still hasn’t been paid back the 3300 he lent you if he is feeling magical, ask your in laws, ask your preants, ask you lenders.
What an A**
January 23rd, 2007 at 11:05 pm
does any of this resonate with you???
The Cluster B Personality Disorders and common characteristics are:
Antisocial Personality Disorder (301.7)
* No superego or conscious (no sense of right and wrong)
* Willing to Lie
* Not bound by Social Norms
* Can be pleasant/polished/slick
* Possible criminal record
* Potential for Violence
* Impulsive
* Enjoys humiliating and demeaning others
Narcissistic Personality Disorder (301.81)
* Grandiosity, Exhibitionism
* Lack of Empathy
* Unrealistic self evaluation
* Hypersensitivity to Criticism
* Need for constant approval
Histrionic Personality Disorder (301.50)
* Overly Dramatic, Theatrical
* Needs to be center of attention
* Attention seeking
* Excessive concern with physical appearance
* Vanity
* Demanding, manipulative
* Frequent Tantrums
* Need continual stimulation
* Sexually provocative
DSM Criteria
Borderline Personality Disorder (301.83)
* Emotional and Interpersonal Instability
* Rapid mood swings between ups and downs
* Reacting strongly to separations
* No clear goals or direction
* Inconsistent
* Frequently considers self-harm
January 24th, 2007 at 12:27 am
“At the same, you continue to display an uncanny inability to discern legitimate from illegitimate business opportunities. The “corporate credit” thing is the perfect case and point. As soon as you first wrote about it back in December, pretty much every member of this community told you that it was a scam and illegal. Only in the last week or so have you finally seemed to accept what we’ve been telling you: that its not manna from heaven, and you’d almost certainly hurt yourself (financially and legally) by pursuing it.”
When I called Casey up on this, asking why it took him over a month to realise just how shady this scheme was, his reply was priceless:
“You’re right there were a lot of good advice in those comments. There was also some incorrect advice. Problem with an open blog is that you don’t know the credentials or background of the people so I have to take everything with a grain of salt. Wouldn’t you? ”
Now this sounds sensible - until you actually read the dozens if not hundreds of comments posted within 24 hours of his original flotation of what he kept calling his “corporate credit thingy” (I think he was trying to be cute, but it actually made him sound both deeply unprofessional as well as betraying his lack of understanding of what he was proposing to get himself into).
Virtually all of them said that the plan was illegal. Most said why in considerable detail. And the vast majority of the comments broadly agreed in terms of the basic facts.
Now, someone paranoid might think “well, that’s all very well, but maybe all these people colluded behind my back and just decided to post the same incorrect advice to fool me into thinking that it’s legit?” But that wouldn’t work here, because most of our email addresses are inaccessible, and even if they weren’t they’re mostly fake (I know mine is: I learned that particular lesson on Usenet when Casey was still genuinely as opposed to metaphorically crawling).
So even if Casey doesn’t know the credentials of the people posting, doesn’t it reveal just a teensy little bit when nearly all of them post pretty much the EXACT SAME ADVICE without any possibility of prior collusion? In such numbers as to eliminate any possibility of statistical error? The advice being “no, don’t do it, it’s probably illegal - and at the very least you need to talk to a lawyer?” (This is quite apart from the fact that anyone even vaguely clued-up about corporate law would know from the start that it was a stupid and unworkable idea so wouldn’t have needed this advice in the first place).
And yet it still takes Casey over a month to admit that the scheme is, to quote his own terminology, “shady”. Well, duh.
Why would anyone want to do business with someone this clueless? (I mean serious business, not getting cheap publicity on the back of this blog’s sky-high traffic). The cold hard fact is that Casey is not cut out for the real estate business and never will be without an almost inconceivably drastic change in temperament, professionalism, personal responsibility and financial/business awareness.
I KNOW it’s hard to admit that you’re never going to achieve what you’ve set your heart on, as I had to do the same thing ten years ago (in a different business) - but trust me, once I got rid of that particular millstone by admitting that I simply didn’t have the talent or tenacity to do as well as I’d hoped, I never looked back. And I’m ten times happier, more successful and professionally satisfied now than I was back then.
January 24th, 2007 at 12:31 am
Casey, you are the UBAR clown.
There is no way you are going to get rich with real estate. No-one is. It’s over. You are like the sad idiot who lost a lot of money in the nasdaq when it was at 5,000 and the turns around and tells everyone that you are going to make it back with prudent stock investment when the nasdaq was at 3,500.
I’ve really tried to help you. I’ll try once more. Now pay attention.
REAL ESTATE IS A DECLINING IN VALUE ASSET CLASS.
That’s all you need to know. The current demographics don’t support anything else. No-one can make money.
Instead of spending more money on seminars, go buy a plane ticket and fly to Detroit. Walk around for a bit. That is the future of US real estate. Now tell me about your sweet deals again.
January 24th, 2007 at 1:07 am
um I think I missed something. When did you add the other properties on your list of “sweet deals”? IMHO it looks like you are trying to appear relevant in some way. I only remember 6 before, now it’s up to nine?
January 24th, 2007 at 3:50 am
Let me get this straight.
Your ideal situation is that you think up an idea (like, just for example, buying a 100-unit apartment building), then you tell some of your advisors, who then point out the “holes” in your idea.
Like, say, the problem of finding one that has positive cash flow, the problems in fixing ones that don’t, financing issues, etc.
So they then tell you these problems (hey, we’re part of Team Casey!), and then they and other advisors commune with you to think about how to get around these problems.
Then, they take the plan to other people, who know people with money. They recruit people who have financing or credit to get financing. Those people then all execute this deal.
Ok, do I have that right? Why, Casey, would they then give YOU the money made from that deal? So far, as far as we know, every real estate idea you’ve had has been a hackneyed one, that came from a seminar or guru. The deals you’ve spotted have been BAD. Telling us that if you’d gotten the things you bought for less, and done things differently, does NOT mean the deals were good. Because the deals you spotted were not the good ones you see.
Even if they gave you money, it’d be a tiny cut. You said you pay (you know, if it ever happens) bird-dogging mail carriers $500 to spot a deal. So… maybe those people, in an ideal scenario where you actually find a good deal, would give you $500.
First, that means you’d be working, which we all know (you’re the only one who knows but won’t admit it) you’re not interested in doing. Second, it’s not “passive income,” and third, it’s not guaranteed. So… why do they need you, Casey?
January 24th, 2007 at 4:18 am
GREAT JOB CASEY!!!!!!!
Sponsors-Nothing like making money and not having to work for it!!!!!
There is no dought that you are much smarter than the average Joe. How man