November 28th, 2006   3:58 am

Borrow 50 Grand to Stop Foreclosure and Sell My Houses Creatively

This is one of the burning thoughts that I came up with during the facing foreclosure fast: I really want to sell all those houses ASAP and stop foreclosure! I’m sick and tired of having all this non-performing inventory continue dragging me down for so long. I need to be moving forward towards my goals of becoming a successful real estate investor.

The hope: I do have some buyers from my creative marketing efforts who are willing to take over the mortgage payments. This is a good thing because I won’t have to do a short sale. The buyers will assume the current mortgage balance and refinance later when they improve their credit (and when the market recovers so the house would appraise).

That’s great because the lenders will not loose any money on me and the credit-challenged buyers will get their dream of home ownership. We have the makings of a WIN-WIN here.

The Problem: the buyers don’t have enough of a down payment to bring my loans current, which is about $15k per house by now.

The Solution: borrow some money, bring the loans current and factor the payments on that new debt into the payment on the house. So I would pass the cost of borrowing the money on to the buyers, so I’m happy. The buyer is happy because they are getting a no-money down deal without having to qualify for a loan. Pretty good heh?

Well sort of….

Another Problem: since the buyers don’t have any skin in the game, what stops them from defaulting? They are “credit challenged” for a reason. People tend to stick with their patterns. So if the buyer defaults I’m back to facing foreclosure. But hey, it’s worth a shot. Better than nothing.

The Protection: to do this smart, I should probably sell via a lease option (a.k.a. “rent to own” ) instead of an All Inclusive Trust Deed (a.k.a. “wrap around mortgage” ). This way if they default, I can evict instead of having to foreclose. Plus it avoids the due-on-sale issue.

Also, I should borrow a little bit of extra money so that I can invest into additional marketing. This way I will have more buyers to choose from and can pick “the cream of the crop” instead of acting out of desperation. Christmas is coming up and I need to get those houses MOVED!!

How much do I need? I want to do this strategy on my California houses (I’m still hoping for the raffle idea for the New Mexico model home). So I will need $15,000 per house to re-instate the loans and stop foreclosure. Times by three houses = $45,000. Add $5,000 for additional marketing. Total needed: $50,000.

Where am I going to get $50 grand in 3 weeks?

Who is going to lend me money with my awesome credit score and no collateral?? Maybe I can talk the lender into using my (un)TrueCredit score? Yeah, right.

I need something creative… I have an opportunity but I’m still checking it out. Will share it shortly.

What do you think of my idea to borrow money, stop foreclosure and sell the houses creatively?


  • According to the Sacramento County Records, both of your Sacramento houses have the notices of default (one on 11/2/06 and the other on 11/16/06).

    What’s the plan?

    Come on … you gotta get to work! You know the timeline!

  • Surely this is some sort of sick joke. Although I hear that you can sell a testicle for around $40k, and you wouldn’t even have to pay it back (I’m serious - it beats the hell out of driving a truck in Iraq).

  • What’s another 50k between friends?

    Just make sure you keep stacking up the contacts in terms of Bankruptcy lawyers…

    I sure hope your luck changes at some point Casey but really I think you need to take a cold hard long look at your situation, on a full stomach, and admit game over.

    I can’t see how credit-challenged buyers are the answer.

  • Casey, there are reasons why some people’s credit score is low. The whole credit score thing works because - as a trend - it predicts whether people are going to be able to pay back what they borrowed.

    What happens if even one of your buyers is unable to keep up their payments? Does your “creative financing” mean that you’ll be liable?

    I can’t believe you’re thinking of borrowing more money…

  • 5. dumb da dum dumb
    November 28th, 2006 at 4:58 am


    was that ebid post a legit auction?

    you think you can get out of this by helping people (finding a bigger fool

    somehow “HELPING” credit challenged buyers find the

    which is NOT the same as “OWNERSHIP OF A DREAM HOME”

  • I’m thinking 150+ comments on this one.

  • You. are. insane. nobody in their right mind would lend you one dime. I think you need to be institutionalized

  • 8. James Harmston
    November 28th, 2006 at 5:22 am


    I am writing this for my benefit, not yours. I have been reading your trainwreck of a story for a month or two, and I do not for a second think you will take any of the adult advice you have been given. Still, reading your blog makes me want to tear my hair out. When I think how I have struggled, and had sleepless nights over being a few K in the red, your story - if true - is staggering.

    You are bankrupt. Face it. Stop thinking you are some sort of investor/speculator/hotshot. Stop borrowing more money - your government might be turning it into toilet paper anyway, but you are still a waste of what little value the $ still has.

  • Oh you are UNBELIEVABLE. You deserve everything you get from here. I can’t look away, it’s too mesmerising, even though I’m disgusted wth myself.

  • How would you pay back $50,000?

  • 11. first time poster
    November 28th, 2006 at 5:37 am

    “People tend to stick with their patterns”

    You said it best yourself Casey and PLEASE stop using LOOSE in place of LOSE

  • Do “creative” do you mean “deceptive”?

  • I don’t think any lender in their right mind is going to give you another $50k. Look at your track record!!!!!!

    If the buyer wants the house, and is willing to just TOP, then s/he should be able to come up with $15k for the down payment. If they are paying what you have listed (~$350k) and can’t come up with a measly $15k down payment, they’re probably going to default. I would DEFINITELY do this ONLY as a lease-purchase, if at all.

    You were asking for $27k down and for them to take over $2816/mth; if they can’t scrape together $15k through whatever means, they certainly can’t afford a mortgage note of $2816 (which would actually be higher because you need to figure in taxes and insurance).

  • 14. casey can do it
    November 28th, 2006 at 6:17 am

    buy a gun with whatever credit you have left….rob a the local wells fargo branch(they have been ripping you off but then so has everyone right). You may have to hit more than one branch to get 50k(tellers usually only have a few grand.

    Good luck with that. remember….ask nicely.

  • Casey, with all due respect, who at this point would loan you $50,000?

  • Given your inability to pay your current debt obligations, and recent foreclosure, a $50,000 loan doesn’t seem very reasonable at this point. I haven’t seen any comment about your budget or paying back the remaining $3,000 loan from your friend. Have you made any progress in these areas. I suggest consulting a bankruptcy attorney about financial situation.

  • Yes you should do that. In fact, I have 50 grand right here I’ll send over to you, interest free, your credit is excellent. You are better than 1% of the people. After that, me, you and Prleechbix can flip condo’s in Morroco. I heard Donald trump is developing luxury multi storied condos there.

  • Casey: You need to start talking to someone with connections. I suggest you start with your local Italian or Vietnamize restaurant owner.

    There is money available all time if you are willing pay the interest. In your case, we’re talking a few points a week. If you’re serious, you can get the money today and get these monkeys of your back in a matter of a few weeks.

  • 19. Take Some Responsibilty
    November 28th, 2006 at 7:11 am

    You had no skin in the game, so what stops you from defaulting. It is just a matter of time. Your game is in its final inning.

  • Casey, borrowing more money and creating more debt is not the answer.

    Here is what I would do, if I ever made such a huge disaster for myself:

    1. Find a Lease To Own tenant with a down payment of a minimum of $5k
    2. Lease with 5 year term.
    3. Lease with rent of current costs + $200 per month.
    4. With lease in hand go to see my banker (lease may not be completed, but in the works. Do not lock yourself in on something you do not know will bear fruit.)
    5. Negotiate with my banker to hand over the complete down payment.
    6. Request the banker to assist me in re allocating the past due. Either by adjusting my current payments or paying extra with each payment an agreed upon amount until the past due balance is gone. I prefer the later, because should my situation improve, I can remove the burden without a refinance.

    I would continue this process with each property until things were moving forward again.

    Also, when beginning negotiations with possible tenants, I would not start at the $5k down level. I would most likely start at the $15k, knowing full well this is highly unlikely. Giving them the feeling of pride in negotiations as the whittle me down. I would NEVER take less than $5k.

    NOTE: I am not a professional, this is just what I would do and you must make your own path.

  • I have some thoughts, but since you are absolutely unwilling and/or incapable of even the trivial task of listening and learning the difference between “loose” and “lose”, I am convinced you are a lost cause.

  • Let the houses go……it’s time to stop this pyramid before anyone else gets hurt. Seriously.

  • You forgot to mention ANOTHER PROBLEM

    YOU are credit challenged (among other things). Who in their right mind is going to loan you money ?

  • 24. Are you for Real?
    November 28th, 2006 at 7:31 am

    Wow… seriously I think the lack of food during your fasting has taken its toll on your thought process.

    So if you cannot pay what you currently owe and now you want to borrow more money???

    What ever happened to the “do the right thing mentality”?

    Just take the foreclosure like a man and move on you are young.

  • Casey,

    You are intensely, extremely, terribly uncomfortable. You’re seeing monsters. You’re losing your mind and you feel it going.

  • —What do you think of my idea to borrow money, stop foreclosure and sell the houses creatively?—

    Not much. You should file for bankruptcy now. In your position, I would also shed any ambitions of success in real estate. Your mistakes so far suggest that you should be an employee, not the person in charge.

    I would like to see someone with the know-how run a comprehensive investigation of what’s really going on here. Other posters, such as Charles Martel, have hinted there’s more than meets the eye regarding your history. I do not know where to look for these types of revealing fun facts, and unfortunately I do not have the time to haunt the web and verify blog posts all day. I have a job, you see.

  • 27. Wait a Minute
    November 28th, 2006 at 7:42 am

    Enclosed is a bill for $249.00 to replace my monitor. After reading this thread, I spit my coffee al over it.

    Casey Serin, our little Borat of foreclosures. Can you sing, ” throw the Jew down the well?” ROFLMAO

  • No! Going even more into the hole isn’t going to help. What happens when those houses are worth even less next year, the renters default, and drag you through a lengthy eviction process? Plus you have no means to pay back the 50k, the 3k to your friend, the 180k of unsecured debt.

    Declare bankruptcy and get a real job. Study the market for the next few years and make a comeback five years from now. You’re in this hole because you had no experience or real education in this market.

  • Casey,


    I used to have rental properties. I had 2, with positive cash flow and enough in savings to pay a years worth of the mortgages on BOTH in case the scat hit the fan. As soon as I was hurt at work and knew that I would miss a year or more I sold both. There was no way I was willing to risk the debt. You have over $2.2 Mil, and now you want to sink another $50k into the hole?

    If you sell these things this way, you will be quite lucky to just cover the nut on the mortgages. How will you pay the $50k back? Will these folks that you sell to pay the taxes and insurance or “let them slide”? Will they even make their payments on time to you or to an escrow company? Will these folks properly maintain and repair the property? Will your mortgage holders accelerate the very second that they catch wind of this?


    Without access to at least 6 months worth of money to float this mess you are screwed at the very first little slip up. If someone is late on a payment or skips a tax bill or bolts because the place needs a new roof or furnace or something else YOU are the one that will have to pay that bill. YOU DON”T HAVE THE MONEY!

    Take some other advice here. Stop trying to short these things or come up with another scheme to save this mess. DIL all 4 that you have left and begin to repair your credit. That alone will take 5 years or more. The longer you delay, the older you are when things can get back to normal for you.

  • If you have bank loans, you are not going to be able to have someone ‘assume’ your mortgage. And who will lend you $50k with your credit? Private lenders? With even higher interest?

    Give it up - get a BK atty, declare BK, & retain a criminal atty just in case.

  • OMIGOD….get real!!! borrow more money…sure….How’s that working for you up to now? With your stellar credit rating…why not continue? I hear the Russian Mafia (or is it the Israeli mafia?) still have some coin laying around that they had reserved for Maurice Clarrett (check out that story some time….) By the way, how do you know you’ve still got three weeks till this whole house of cards collapses around you? Seems to me the end could be much sooner than you think.

    I think what you should do is contact a Hollywood agent and try to sell the rights to your story. Oops…wait…you already kinda botched that one in Phoenix.

    Why not just commit outright check fraud? Write yourself a few $15,000 dollar checks. Really,what could it cost you? Not more than $33 from Wells Fargo, right? Much higher cost/benefit ratio than some Jamba Juice or Macaroni Grill. Go ahead….DO IT! Just consider it a short term loan…..tell them that you’re serious about repaying it, but just need to fast a bit longer to acquire the proper positive motivation before acting.

    Even better, why not just go Che’ on us, and rob a few banks? Surely any judge or jury would acquit you based on the unbearable stress of your current situation. With your charm and Tony Robbins patina, I’m sure you would have no problem swaying anyone to the righteousness of your cause. At any rate, the consequences can’t be any worse than what you’re currently facing, plus you get free food in prison….delivered to your room.

  • Casey, Casey, Casey. Go back to fasting and praying.

  • I appreciate the ‘thinking outside of the box’, but these are not buyers you have. These are people that cannot afford a home and cannot qualify for a home. They might be willing but are not ready or able. But do keep us abreast of how you can raise another $50,000 in three weeks.

  • Casey explains his own traits in three sentences, and manages to sound condescending about people exactly like himself: “since the buyers don’t have any skin in the game, what stops them from defaulting? They are “credit challenged” for a reason. People tend to stick with their patterns.”

  • hey Casey,

    Let me be the first to say that this is a BAD IDEA!!!!! I understand you want to stop the foreclosures and get the world off of your back, but before you make any decisions think about the followings things.

    1. My bread and butter are selling on lease options, so i know a thing or two and you are right. Selling VIA a lease with option to purchase is safter than the other choice. No here is the problem. You are already in debt pretty much and have stated that one of the reasons was that you couldnt support the mortgage payments on some of the houses. So , lets say you borrow 50,000 and pass the cost on to the tenant. More than likely they will not stay in the house. Trust me most tenant buyers never buy. So, lets say you evict them. Lets say you cant find another tenant for 3 months, plus the time of the eviction. Can you cover the payments, plus the mortgage……If you are not 100% sure, then the answer is no.

    Basically you will be back in the same trouble again, only now you’ll have a extra 50,000 debit to add on top. Also, taking extra money out of loan only adds to the payments and never really plays out the way you think. So, just think about it is all im asking. Do you really want to add another 50,000 debt. My advice is to continue to do what your doing and i dont know if you have tried it, but there are many investors who have the money to cover payments and make up back payments who will take a mortgage over subject 2. I dont know the numbers of your deals, but just a thought. In my opinion, adding more debt will only result in more problems. Well, good luck with everything and remember. YOu are very young still and you do not have to be success over night. Becoming great at real estate takes time and baby steps. Good luck

  • I am forced to believe that this is a joke to you and you are baiting us, or you are clinically insane. As of this post I have completely stopped being at least mildly interested in your screw ups and hope you get plenty of time in jail.

  • Casey,

    Unfortunately, you can’t borrow yourself out of this situation. No institutional lender will loan to you based on your credit. No hard money lender will give you a cash out second or third.

    If you have credit challenged buyers for these places, go ahead and do the lease option, take a deposit upfront and negotiate a forbearance with the lender - now that you have a way to pay them. If they won’t negotiate, start making payments anyway. You’ll avoid foreclosure. You don’t really have anything else to protect credit wise.

    Break down your problem into chunks you can actually work with. Borrowing 50k with bad credit and no collateral is impossible. If you’re behind 15k on each house, look at that number. It’s a bit easier to digest.

    Why not do this for all your remaining properties? The lottery idea for the New Mexico house is a waste of time. Have you marketed the California properties with the newly approved short sale prices? Something else to consider.

    Casey, you’re rapidly running out of time here. Some of these properties have the possibility of languishing on the market for over a year. You won’t have the ability to gain equity if you don’t own any properties.

    Now is the time to come to grips with reality. Find one of the houses you like, move in and declare bankruptcy. You’ll lose the other homes, but still have a base to build from. Don’t let pride or stubbornness force you to lose everything. You’ve done everything you could over the past few months and you’ve done well to get rid of two properties, but now is the time to restructure, regroup and declare bankruptcy.


  • Ha Ha Ha You are you are simply amazing.

    But seriously if you find a numbnut willing to lend you $$$ tell us all so I can get a loan from there as well.

  • “People tend to stick with their patterns. ”

    I think all of us here are witnessing truth to that statement.

  • You’re still writing ‘loose’ instead of ‘lose’.

    You haven’t learned a thing, have you?

  • Hello,

    I think this is a bad idea. You are planning to throw more money after bad money. Houses in the past month or so have lost on average $8-10,000 per month. I think those “credit challenged” prospects are suckers for wanting to buy from you. Not only are they getting over priced houses, but then you are gonna stick them with more higher debt on top of the high debt you have them pay.

    Those people who you want to sell to, are better off getting a mortgage themselves, rather than deal with you and your background.

    I think the advice given the other day that you try to negotiate with the lenders to carry the past due payments as a balloon payment at the end of the mortgage is a good idea. This is an alternative for them instead of spending money and liability in foreclosing, since they are gonna deal with a huge amount of foreclosures the coming new year.

    But again, I think no one should buy these houses from you. They will not be able to refinance for at least five years or more, when this market goes back up. If they try to refinance prior to that, their appraisals will be less than they paid for the houses and it wont be in their best interest to do so.

    Casey! I dont know what your religion is, and it doesnt really matter. I think that you are too optimistic and need to face reality. You do not need to borrow another $50,000, when you have negative net worth, no real job, and this time, because your scores are so low, you wont qualify for a no doc loan.

    Casey! You may have admitted your crimes and sins, but you are not changing your ways. You are back to your old ideas just with new twists. If you are Christian, you are required not only to repent, but to actually stop sinning and committing more crimes. Just because you “fasted” and planned, stuff you should have done before you bought your first property, does not mean that you have learned your lesson.

  • HEY,


  • Metallica - The black album (Metallica)
    Enter Sandman

    Say your prayers little one
    don’t forget, my son
    to include everyone

    tuck you in, warm within
    keep you free from sin
    till the sandman he comes

    sleep with one eye open
    gripping your pillow tight

    exit light
    enter night
    take my hand
    off to never never land

    something’s wrong, shut the light
    heavy thoughts tonight
    and they aren’t of snow white

    dreams of war, dreams of liars
    dreams of dragon’s fire
    and of things that will bite

    sleep with one eye open
    gripping your pillow tight

    exit light
    enter night
    take my hand
    off to never never land

    now I lay me down to sleep
    pray the lord my soul to keep
    if I die before I wake
    pray the lord my soul to take

    hush little baby, don’t say a word
    and never mind that noise you heard
    it’s just the beast under your bed,
    in your closet, in your head

    exit light
    enter night
    grain of sand

    exit light
    enter night
    take my hand
    we’re off to never never land

  • @D: I already tried asking the bank to re-structure the loan and move the past-due amount to the back of the loan or spread it out over a few payments via a “forbearance” but its a NO GO because of 2 reasons:

    1) the loan is officially in default now. If the NOD hasn’t been filed they said that would have been a remote possibility

    2) They also asked me how in the world would I be able to start making payments again when my credit report shows liabilities of $15,000/month. The bank would have to see that I all of a sudden I have an income high enough to cover that amount and then some. So I would have to somehow convince them that I will be paying just THIS mortgage and do some serious lying. Not good.

  • Look, I understand that some of you think this is a joke post or another sensational “stir-the-pot” type of post.

    It’s not.

    I really AM considering this idea because I found a possibility to borrow 50K unsecured to accomplish this.

    However, before I rush out and get into a bunch of debt again, I figure I will bring my idea to my blog readers and get some feedback so that I don’t do stupid stuff impulsively without consider all the sides.

    My desire is to try to repay these mortgages… bank is going to loose a BUNCH on a short sale (or a DIL or foreclosure)… the mount of loss is UGLY… so I’m looking at whatever ideas I can as an alternative to prevent any losses.

  • Casey, you’re a riot! Thanks for putting a smile on my face this morning! (Off for another personal training session at Crunch…will write more later)

  • Hello,

    Casey! Everyone knows that the housing bubble is going to burst soon. That means, a person in your situation is to either go into the military, where they need young stupid people, or go to school. The military is probably out, but you never know, because they do check your credit record. The only loans you probably qualify for in this country, are student loans. They arent based on your credit score. You could ride out this coming recession as a student, or get a real job.


    Living proof that prayer doesn’t work…you fast and pray and this is what you come up with.

    If you came up with I’m just bailing since that is the only solution, I would have said maybe there something to this fasting/praying thing.

    Throwing good money after bad is what you came up with and the universe’s answer is a BIG FAT NO!

    Casey, this game is over for you right now. You’ll need to clear up all debts before you can start again. Foreclose, declare bankruptcy, take a year or more off, regroup and then plan a comeback (done slowly).

    What you really need to do is take enough time off to see what exactly about you that created this mess…because whatever THAT is…IT still there…and unless you change THAT, you’re a time bomb that will go off again in the future. You have to change and do a lot of proving that you have before anyone will lend you money.

    Your actions were wreckless in any market.

    Best to you but I think you’ve seen the best already for sometime to come.


  • 49. casey can do it
    November 28th, 2006 at 8:51 am

    face it casey you are going to borrow the 50k. is it from family members or the mafia?

  • “Another Problem: since the buyers don’t have any skin in the game, what stops them from defaulting? They are ‘credit challenged’ for a reason. People tend to stick with their patterns.”
    Sashenka: You have never written truer words - please take a good hard look in the tzerkala and see if you can’t muster some honest self reflection.

  • 51. Howie Feltersnatch
    November 28th, 2006 at 8:58 am

    Remember back in the late ’80s, the “No Excuses” jeans ads? And remember how SNL parodied them with “Bad Ideas” jeans…an ad with a bunch of guys playing basketball saying things like, “Normally I use protection, but then I thought, ‘When am I getting back to Haiti again?’”?

    This idea would have been perfect for the “Bad Ideas” commercial. Honestly, I’ve never heard a worse idea. Giving K-Fed a recording contract, New Coke, invading Iraq–they all pale in comparison. This is so mind-numbingly awful it could only have come from Casey’s twisted mind. Carry on sir, you’re providing loads of fun.

  • 50k should be no prob to find if the numbers make sense. Any good investor will want to turn 50k into millions. That’s what we’re trying to do with my friend’s inheritance… at

  • I try to look away, I really do. I drive by and have to look back. I was thinking about telling you what you’ve heard 1000s of times. Turn in the keys, get a job, blah blah blah. But why bother?

    I think you should borrow as much money as you possibly can (most likely zero) and try to get your FICO into the 400s.

    I can get you a movie gig as a “fluffer” if you need to drum up some quick money.

  • Casey, you’re really becoming irrational.

    You remind me of those people who have shopping or gambling addictions.

    This is addictive behaviour.

    “There are three stages that the compulsive gambler goes through. In the early or winning phase, the dependency on gambling develops as the individual begins to bet more frequently and tends to win as his/her knowledge of gambling odds and risks is developed. During this stage, the person still “controls” the behavior and can stop gambling. Rarely does the individual borrow money, since winnings are usually enough to support continued gambling. This phase may continue for months to years and typically ends with a substantially big win.

    During the next phase, the losing phase, the individual begins to gamble alone instead of with friends and begins to bet large amounts of money. Around this time, because the individual is gambling more, he/she begins to lose. Out of frustration, the individual begins to bet more money and take more chances. As his/her winnings are quickly depleted, the person begins to draw upon other resources in order to “get even.” This is often money that has been earned, saved, or invested. If the person continues to lose, he/she feels a sense of urgency to win back what has been lost and eventually may borrow money. The individual then tries to cover up and may lie about his/her gambling, which alienates both family and friends. When friends or family do lend money to help the person get out of debt, it usually is quickly lost.

    During the last or desperation phase, the person disregards creditors, family, and friends and begins to take even further risks. He/she may engage in illegal loans, thefts, or other crimes. The person often loses family and job. Depression is common, and suicide attempts are frequent.

    The cause of compulsive gambling is not known. Most gamblers talk about the “thrill” or “high” they get while gambling, and it is speculated that, as in other addictive behaviors, perhaps beta-endorphines are produced in the brain, which causes the individual to repeat the behavior to obtain the pleasant feeling. It is interesting to note that during treatment, compulsive gamblers undergo withdrawal symptoms similar to symptoms of persons addicted to depressant drugs: headaches, abdominal pain, diarrhea, cold sweats, tremor, and nightmares.”

    Addictive behaviour in general:

    “There are many common characteristics among the various addictive behaviors, as suggested by Miller, Levison, Hatterer, and others. First of all, the individual becomes obsessed (constantly thinks of) the object, activity, or substance and will seek it out, often to the detriment of work or interpersonal relationships. The person will compulsively engage in the activity, that is, do the activity over and over even if he/she does not want to. Upon cessation of the activity, withdrawal symptoms of irritability, craving, and restlessness will often occur. The person does not appear to have control as to when, how long, or how much he or she will continue the behavior (loss of control). He/she often denies problems resulting from his/her engagement in the behavior, even though others can see the negative effects. Individuals with addictive behaviors usually have low self esteem and feel anxious if the do not have control over their environment.”

    Get help dude.

  • Um, Young Casey, even assuming that you could con some loan shark into loaning you USD 50 000 unsecured - you still owe more money on each of the properties than the properties are worth.

    That is a losing proposition. A lose-lose.

    But who on earth would lend you money? How drunk are they? We won’t even go into why sub-sub prime homebuyers can’t get credit for some reason. Didn’t you learn anything from your earlier attempt at landlording?

  • Casey:

    Let me be the first to say that this is a great idea. You’ll keep the properties and when the housing market gets back on track, you’ll be in the game and ready to become rich! Don’t listen to all of the idiots posting on the board, they don’t understand the idea of taking risks to get ahead. Sure, it might seem a little odd to borrow money to keep control of properties that appear to be worth significantly less than what you owe on them…but this is outside-the-box thinking, man. Those who think inside-the-box are stuck there. You are free. Good luck!


  • Casey,
    Maybe try It is a site where individuals loan to each other. Maybe you can get a loan there. I think your in the right direction here dude.Hope you are doing great.

  • Hello,

    Casey! I grew up in Sacramento, born and raised. The town that I call home, has been ruined. Granted, Sacramento, or parts of it, arent the best places to raise children to own a car, but its my home. But people like you and Bay Area trash, have turned the area into a tract home nightmare. Thousands and thousands of houses, no matter the price, will be useless in 20 years or less. Natomas is going to be a slum. This disgusts me. Natomas should have been kept a rice field, and so should Elk Grove and other places. Dang, if people are buying houses in Sutter and Colusa counties and commuting, they are nuts.

    If you are truly of immigrant stock, which I suspect is true, because of the broken english, and I admit, I watched your video for like thirty minutes. You should know and understand the concept of hard work. In that video you stated that your father did menial jobs or hard working jobs to raise you and your siblings. Why didnt that rub off onto you?

    What was wrong with getting a good education? Either you went to college, failed, or dont want to admit which school you went to. Or you tried to get in, and was turned down. Education is the only real way of getting ahead in this country, for you and if oneday you have children. Are you gonna teach them to get something for nothing or to actually work for what you want?

    The money part of your problems will work out one way or another, with or without your participation at this point. That is not what I am worried about Casey. There is no free lunch. I have a degree in Economics. That is the first thing they teach you in your first economics class, No Free Lunch. That means, nothing is free or comes for free. There are prices for everything, costs, even if you think you got away with something, made a sweet deal, or made a big profit off some sucker.

    This country and our culture is built on stealing, so it does not suprise me that you exist, or your story. If you exist there are probably more Caseys out there, at least another. In the end, the banks, insurance companies, mortgage lenders, finance companies, credit card issuers, make their money for their risk. You make your big profit, someone loses. You lose your shirt, someone wins.

    Flipping has always existed, just in different forms. The founders of this country stole the land from the Indians, and then flipped it to “settlers” for dollars an acre. It will continue, and thats the sad part of this whole story. You may or may not learn from your mistakes, but there will be more Caseys in the future, as long as the hope of getting something for nothing is perpetuated in our culture.

    I hate to be sarcastic at this point, but I will. Casey, maybe you should open a hedge fund investing in real estate in a big way. Since you have experience in the real estate market, I am sure there is some one willing to give you billions.

  • First, yet again, it’s LOSE. Not ‘loose.’ Sample sentence -

    You appear to be on the verge of *losing* your mind, if you think it’s a good idea to let people with no downpayment *loose* in those houses.

    I do think you’re serious. I also think you’re bordering on a diagnosable delusional disorder here.

    You’re… tired of non-performing inventory dragging you down? I enjoy how you phrase that as if the houses were somehow attached to you without your knowledge. Nevermind how you phrase it as if there’s performing inventory someplace.

    In the Modesto house info post, you say that credit-challenged buyers, you’ve heard, are not at all picky about the houses or prices they can get. So you think, you honestly, seriously think, that some people, who do not have $15,000 saved, are just so desperate to own a house that they don’t care what the house is like or how much they have to pay? Uhm, why would that be, Casey?

    Why would someone with not a lot of money pay a lot more than they would to rent something comparable to get something that’s not as nice and will saddle them with maintenance, taxes, utilities, and possible depriciation? Why would they do that, Casey?

    No one in their right mind would do that, Casey.

    Same as no one in their right mind would think that borrowing $50,000 to help people who don’t have $15,000 to their names - and who can’t get it, from any means - take over a $3,000-a-month payment?

    If someone makes enough to be able to shell out $3,000 a month, and still, you know, eat, why don’t they have $15,000, Casey? Because if they’re comfortable enough to be able to keep up your payments, then I’d think they could save a little, or get an advance, or something.

    Also, if you have people just desperate to pay $3,000 a month to live in a crappy house when they could get something nicer for less money, why do you need $5,000 to advertise? Do you have these people or are you imaginine they’re out there, someplace, wishing for a way overpriced, run-down, nearing-foreclosure shack to come up so they can pay too much to live in it?

  • The clear problem here is that you refuse to see the game is already over, and you still believe all the BS from the gurus. You think you are going to make a go of this, you think you can find “sweet deals”, you believe easy money is there for you to find which will fix your problems.

    I believe you will not accept reality until you hit bottom completely, but that’s coming soon. The foreclosures will all be done sometime in the next 6 months and the houses gone, and that’s about the time when some authorities will start looking at making an example of you.

    You seem to think that the houses will all start to magically appreciate again, and save themselves. Get it. That isn’t going to happen for a long time. Bubbles when popped don’t reform for a long time because people burned learn from their mistakes and move on. Speculators burned at RE won’t try it again until enough time passes that they have forgotten. You don’t seem to accept reality.

    Perhaps similar to Gandhi’s fast, you should vow to fast until every dirty penny is repaid.

  • This blog has amazing comedy value.

  • The only way I see of getting the money is to borrow it from a loan shark… It fits your criteria of being “creative.” These types of loans aren’t discharged in bankruptcy, and when you default, the lender will proceed to beat the living crap out of you until you make good on it.

    But, hey, if this plan is a sure thing, there’s no risk of that happening, right?

  • “I really AM considering this idea because I found a possibility to borrow 50K unsecured to accomplish this.”

    Identity theft? Anyone that would loan you 50k unsecured would have to be more insane than you are and would frankly deserve to lose the 50k.

  • My desire is to try to repay these mortgages… bank is going to loose a BUNCH on a short sale (or a DIL or foreclosure)… the mount of loss is UGLY… so I’m looking at whatever ideas I can as an alternative to prevent any losses.

    More lies. You continue to delude yourself with the idea that vast real estate riches are just around the corner, if you could only make that ONE sweet deal.

    Give it up. You are delusional, and probably mentally ill.

  • Unless it is a relative, whoever telling you that they are going to lend you 50K is lying to you.

    A quick Casey Coolidge quote:

    You loose!

    (if you could only be so laconic and introspective - I have given up on the spelling.)

  • Casey,

    The way I see it you have 3 options to make a fast $50k.

    1. I already proposed to make the Casey dolls that people will give you $10 on each sale. I was serious but you never wrote back. You’d only need to sell 5000 dolls and with the traffic on this blog that shouldn’t be too hard. is money in the bank!

    2. Contact one of your Uzbekistani friends who can lend you the money as a short term high interest rate deal. Of course now you are placing your physical body in jeopardy if you cannot repay.

    3. Someone suggested taking a student loan. That’s not a bad idea- apply for a 2nd semester program, try to extract the $50k for total student fees, then drop the class and get your money back. Main drawback is you don’t have enough time.

    Big Cheese

  • 67. ForeclosureRep
    November 28th, 2006 at 9:54 am

    What a joke! Why even bring this up on your blog ? To encite a lot of reponses, and string everyone along for a bit longer, right ?

    You are going to make your own stupid decision in the end, no matter what advice you receive here. Why even ask us ?

    I can see you screwing up a couple of times, but I am beyond having sympathy for you. You continue to make very bad decisions against the advice of many here.

    This would be a very stupid idea, even if you could secure the funds. Which I highly highly doubt that you can.

  • Last thing, I predict todays entry will top 250 comments within 3 days. And most will be from ‘haters’ (or critics), whatever.

  • 69. dumbererer and dumberereest
    November 28th, 2006 at 9:56 am

    result of 24 hours of praying and fasting

    maybe i can borrow 50K and get back in the game?

    50K from WHO & on WHAT TERMS???

  • Drive a truck in Iraq. You can make $50K in less than six months.

  • 71. Sputnik the Cat
    November 28th, 2006 at 10:01 am

    The fact that you’ve found someone to lend you $50k unsecured is amazing. I wouldn’t lend you my water bowl.

    However, even with $50k MORE debt (Ack! Blechh! ooh.. another hairball)… this wrap-around, lease-to-own, whatever scheme is S-T-U-P-I-D. Because:

    1. If you find someone dumb enough to take your houses at - what? - 200% of their market value, they are NOT likely to be of good character. They probably smell bad, too - and are likely looking for somewhere to set up a meth lab.

    2. You don’t have any cash to fund the loans if anything should go wrong with the deadbeats you find to occupy them and take over your loans. And I GUARANTEE you, something will go wrong.

    3. People who can’t come up with $15k for a deposit are NOT likely to be able to afford the payments required to get you square for any sustained period of time. You said it yourself: people stick to their patterns. And so do YOU, by the way.

    Turn out the lights, Sparky - the party’s OVER.


    PS - Thanks for the daily entertainment.
    PPS - I’m out of fishy treats!!!

  • 72. Granite Counter Flop
    November 28th, 2006 at 10:03 am

    Bodog should start taking bets on Casey blowing another $50k. Could you imagine the odds… 50,000 to 1?

    Let’s pretend for a moment there are some people who would you loan you $50,000. Let’s pretend these people aren’t exactly your typical bank. You know what happens when you don’t pay them back, right? I can’t wait to see your post in 2 months…’I “lost” 2 fingers, and now I can’t type. I shouldn’t have been so impulsive and gotten into more debt. I asked Mr. Soprano to forgive my debt, but he had other ideas…’.

  • I don’t get it. What is so hard about learning that “lose” rhymes with “use” and “loose” rhymes with “noose”? He obviously reads these comments, but even in the most recent comment a few posts up, Casey writes “loose” again instead of “lose”. H

    Wait a second, I have an idea. I will use the language Casey understands.

    Casey, if you can write a complete sentence demonstrating that you understand the difference between “lose” and “loose”, I will put $50 into your tip jar.

    Ok, let’s see if that works.

  • 74. Rafer Hoxworth
    November 28th, 2006 at 10:16 am

    OK, Let’s to some math on the Burdet house.You paid $310,000 and presumably haven’t put a dent in the principal. It’s now worth (let’s be generous) $250,000. You have ~$15,000 in back payments, etc.


    You figure that asking someone to assume all of the payments, plus a bit more to cover bringing the arrears current is a good thing. Let’s examine it from their side of the table:

    You: Sweet deal, nothing down, no credit check, just pay.

    Them: Hmm. I assume $325,000 in debt for an asset worth $250,000. Isn’t that a negative equity of $75,000?

    You: Don’t look at it THAT way, you just sign and move in. Nothing down.

    Them: $75 bones in the hole to start with, and housing historically tracks inflation long term. At 4% appreciation per year, I’m right side up in this deal in, um, a quick 7-1/2 years. Sweet!

    You: See! It really is easy. Sign here (please press hard, you’re making 5 copies).

    Them: Well, I’m a little concerned that we haven’t seen the bottom yet. If it goes down another 10%, I won’t see any equity until 2015. Maybe I’d better wait until next summer.

    You: No no no no no no. If you do that, I’ll have to lop on another $40,000 in delinquencies to get you in. That will make the your total “investment” $365,000 and the house will be down to $225,000. So if you wait, you won’t see any equity until 2023. You gotta move fast. If you only overpay by $75,000 now, you actually wind up $90,000 better off by July.

    Them: Oh! Now I get it. I’m actually making $90,000 right now by paing $75,000 too much today! Right?

    You: Absolutely! Air tight deal. In fact, I personally guarantee that next July you will be able to make a $90,000 deposit in your bank account. You have nothing to loose (oops, there I go again)

    Them: Cool. Do you have any other pprtunities for me that can generate such huge profits in so little time?

    You: Well, I kind of like you so, let me tell you about a couple of other……….

  • I think you’re spun out Casey.

    Nobody is going to loan you 50k or even 5k. You have trashed credit, no collateral, no assets, and no material income.

    You borrowed 2mil and still ended up a few hundred thousand in the red. What makes you think after all of this that you can do anything worthwhile with 50k?

    I’m actually having a bit of sympathy for you because it’s become obvious that you are seriously deluded and staring into the abyss.

    Nobody in their right mind would take over these mortgages. The only people who would even consider it are obvious flakes. That guarantees the idea will flop.

    Borrowing money is what’s got you into this mess and caused long-term damage. The answer to your problems isn’t more borrowing. You need to learn what work is. It’s inevitable that you will, whether on your own accord or forced into by your circumstances. All you’re doing now is wishful-thinking, desperate thinking, and putting off the inevitable.

    You sound like an addict. I’ve seen many in the markets and even in Vegas come up with the same ridiculous rationalizations when they can’t let go of the dream-turned-nightmare. A person with absolutely no experience whatsoever has a better chance at becoming a “successful real estate investor” because you have already shown that you will make a mistake at every turn. You have 2 mil handed to you and not only did you not produce results, you got yourself 1/4 mil in debt and created a huge mess that’ll haunt you for a decade and even longer. You have shown you can’t even manage basic simple personal finanaces let alone a multi-million dollar business. The sooner you admit this to yourself, the better off you’ll be. You need to come up for air dude.

  • Why do you persist in misspelling “lose” and “loose”, and confusing “loser” with “looser”?

    This is exactly why most of us now think that you have serious psychological problems. You ignore, completely, the valid, repeatedly stated criticisms of your readers (of your spelling, and most other aspects of your behavior over the past ten months). You just slide right past them; if they conflict with your peculiar conception of reality, you just blow right past them.

    The notion that you can borrow, or otherwise finagle, your way out of this mess is ludicrous.

    When I first approached your blog, I wanted to believe your story of the young, headstrong 24 year old, easily manipulated, who made some huge mistakes but really, truly, wanted to make things right and get his life in order. I don’t believe that now. You haven’t really learned a thing, have you?

  • Why do you need $50k? Why not borrow $15k and try your crappy scheme with only one house. That way, you’ll only be $2.215 million in debt instead of $2.250 million in debt…

    OTOH, when you look at it that way, the difference is negligible. Sort of like those $33 overdraft charges you kept piling up. Who really cares at this point?

    Who are you gonna borrow from? What are they taking as collatoral? (Hope its not your knees…)

    Personally, I think those credit-challenged buyers are just looking to take you for a ride, live in your house for a few months (up to a year) for free, never pay any rent, never pay the utilities and generally be a pain in the a** . But, since you’re already bankrupt, why not borrow another $15k if you can find someone stupid enough to loan it to you.

    I hope this doesn’t come as a surprise to you, but people will often exploit weakness if they see it — and you are, at least financially (and intellectually) about as weak as they come.

    As a postscipt, what finally happened to your Dallas house? Did it sell at auction? For how much?

  • 2000 vs. 2006

    In 2000, the get rich quick guys were day trading their way to fame and fortune (remember the commercial with the tow truck driver and the tropical island?). The on April 10, 2000 the bubble burst. Margin calls were the norm. Dot coms plummeted. The smart said sell! and had what was left of their oney in 3 business days.

    The dumb ones stayed in until the brokerages sold them out. Ususally the lost no more than 70% (margin rules). In some of the worst case scenarios (fortunately very rare, but they did hallen), the dot coms they were chasing fell so fast that all of their equity was wiped out and the firm actually sent them a bill — no kidding!

    Now, a scant 6 years later, the greedy ones started chasing real estate. 3 major differences: 1) Far less transperancy in the deals (cash back at closing anyone?); 2) High transaction costs 6% versus $9.95; and, 3) Liquidity. The specialist or market maker has a duty to set a price to fill the trade. The real estate market does not.

    So, lack of liquidity sucks.

  • Surely, this threat will insprire many to comment :-)

    I see 200+ posts in next day or so.

    Casey has a gift for bringing out the worse in people :-(

  • If this was just “one of your burning thoughts” what were some of the others ? I don’t expect you to answer because YOU NEVER DO.

  • The word is LOSE you idiotic dolt. Is it possible to learn just that lesson?

  • The more energy you put into what you *don’t* want to happen, the higher the chance that it will happen.

    Get it?

    Your credit is shot already, so why not just get this all over with and declare bankruptcy? It’s not the worst that can happen!

    And stop worrying about the banks losses, who cares? The money they lent you was created out of thin air anyway. Ultimately, they couldn’t care less whether or not the principal is repaid, they just want the interest payments.

  • Why do you always ask for your reader’s advice and thoughts? You never follow it or even appear to seriously consider what others write.

  • 84. You have NO options
    November 28th, 2006 at 10:49 am

    Stop spinning!

    Your loans are at VERY high rates and you are talking about “SELLING” houses to people with bad credit at 10% or 20% or 30% ABOVE current property values! This is a fiaso that will NEVER work. Have you thought about how much income a person or couple would need to have in order to take over your payments in the range of $2500 per month? Assuming these people will also eat, drive and wear clothes? Would people at that level of income want to live in your houses, let alone pay a HUGE premium in terms of sales price and interest rate?

    You aren’t in ANY POSITION to try this.

    End your losses and walk away. If you don’t have a criminal issue then you only have to worry about bankruptcy and the IRS, everything else will be sorted. In time you will be able to start over, but this isn’t the way to get there.

  • […] Borrow another $50,000 and then sell the houses in the next few weeks! […]

  • Casey says:

    “They also asked me how in the world would I be able to start making payments again when my credit report shows liabilities of $15,000/month.”

    Casey, why don’t you just use stated income to prove to the banks you can pay 15k a month easily? I mean, you did it before and it worked, 8x times!

    If you do end up getting that 50k loan, please PLEASE tell us who it is. You now officially have a large list of people here (including myself) wanting to borrow from this source! 100k in my case and I “promise” to pay back every dirty penny as Casey would say.

  • What difference does it make to stop these future foreclosure’s if you’ve already got a couple? I wouldn’t borrow more money under your own name to bring these loans current unless you are willing to continue owning this house and have some sort of plan if and when your “renters” decide to bail.

    You should cut your losses on all homes…foreclose on all homes…unless you can really afford to bring them current without creating more debt that you won’t be able to pay back. Stop borrowing money just to stop the inevitable and start looking towards a fresh start.

    Just my 2cents…



  • 89. you are crazy!
    November 28th, 2006 at 11:02 am

    I’ve read this blog since right around when you started it. I cannot see that you have learned one thing from this blog. Still making the same mistakes. I make fewer and fewer comments because, really, what’s the point?

    November 28th, 2006 at 11:04 am


  • So you want to borrow your way out of debt…

    You are not disappointing me in your crazy attempst to make things worse…

    Just make sure to let us know when your family and friends disown you… It will bring a smile to my face

  • So, uh, how has your “creative” marketing worked for you so far? Oh yeah, no takers yet. But things will be different now, if you only had $50,000 to spend, right?

  • Casey,

    You are already in a deep deep hole. Stop digging! Otherwise, you’re just going to go deeper. Don’t worry about repaying the banks. They deserve what they get for giving an idiot like you close to $2 mil in loans. Stop the bleeding now and think about your future. Have you ever though about how long it’s going to take you to repay them back? As for your potential buyers, they are probably as delusional as you are. Stop dragging your miserable situation on and on, end it, cut your loses, and move on. Try not to make the same mistake in the future.

  • Man, the way you talk hurts my head. You should stop drinking that hallucinogenic tea ASAP.

  • 95. Anomalous Blowhard
    November 28th, 2006 at 11:20 am

    You seriously found somebody to lend you $50k unsecured?

    Please, tell me more about this lender. I don’t need names or anything. I’d just like to know who would lend to somebody with your credit, and under what terms.

  • 96. Republicans are funny
    November 28th, 2006 at 11:58 am

    LOL…Republican thinking cracks me up. I can’t quite figure out if Casey is Republican or Democrat.

    Me, I’m an American first and, Casey, you are embarrassing us all.

  • 97. thoughtidseenitall
    November 28th, 2006 at 11:59 am

    I admit that I said “what?!” when I first read Casey’s post, but the way the bankruptcy system is structured, I’m not sure that he doesn’t have a good idea.

    Let’s put it this way, chances are he’ll have to declare bankruptcy even if he gets the $50,000, but there’s some small chance it might save him. So while I agree it might be good to get the bankruptcy over with now from a stress and getting-on-with-life basis, what is the real cost (other than some stress) to *Casey* if he does it later for $50K more in debt (assuming he can find someone willing to loan him that amount).

  • Casey, would you please state the foreclosure timeline dates you’re working against? Do you even know them? Go with the foreclosure flow, dude!

  • what’s another 50k? in the grand scheme of things, not much. if you can get it, *shrug* may as well give it a go, not much else is working for you.

  • Dude, let them go.

    Let the houses go, get out. Having someone else pay your mortgages is not the answer.

    Get out, get your life in order, get a JOB(I know you already say you have one, but take the time and search and find a really good job doing what you know, RE is not it).

  • Casey,

    No don’t borrow any more money. Try to make more money instead of borrow more money or in your case stop loosing first. You have made mistake after mistake, each time you borrowed more money and it get you going for a few more months until now. You are at the end of rope. Just take the bitter pill and declare BK, foreclose all the property and never do it again. Work 9-5 for the rest of your life is better than spend any time in jail. You are too pretty to survive in jail.


  • Tell us more about the “source of funds” so we can fully evaluate the option. It’s not that corporate credit thing is it?

  • Lease option?

    I suppose you could structure a lease option in any way you choose, but as I understand it, the “buyer” is purchasing an option at a specific price.

    That may be enticing to a credit-challenged buyer in a rising market, or even a steady market, but it’s not exactly the deal of the century in a market like this.

    Or am I missing something here?

  • Casey, I am “pro-Casey” by the way, but at this point it is
    difficult not to lean to everyone else’s advice. The entire
    meaning of “Credit,” is receiving of goods or services with the intent to pay the debt in a given time period. Now, you have been unable to pay your debts regardless of the reason…so you have NO CREDITWORTHINESS. It will be next to impossible to find $50K with your credit; unless you are dealing with a mob-connected loan shark who will give you severeal months to pay them back or take drastic circumstances to collect the money.

    I used to think of you as an investor; but there is a difference between a true investor and a speculator. At this point, you are several notches below speculation, which is not good for someone thinking that they are an investor. Investors rarely use their own funds, and if they do their purchases are carefully calculated..this precision takes time and research, and ALWAYS carries a risk. Why carry yourself more into debt with a “gamble” and high optimism when you can clearly see that you have no options at this point?

    Before you dig yourself a deeper ditch; file Chapter 7, because you can not afford the consolidation of payment involved with Chapter 13. You need a fresh start and at your young age…your discharge of bankruptcy (eventually)
    will also come at the time that you have received more wisdom based on experience and lack of impulsive decision making (”investing”)

    One of the main character traits of a smart business person is knowing when to call it “quits”…and start from scratch.

  • 105. Casey Supporter
    November 28th, 2006 at 12:24 pm

    If you guys haven’t figured it out by now. Casey doesn’t take any of your good sound advice. He’s gonna do what he’s gonna do. Even simple advice on correcting him on the use of “loose” vs “lose” and he still won’t listen. And by the looks of it, no one thinks this is a good idea for obvious reasons. But, how about trying to be more supportive…Then maybe you have a shot of him listening to you….*Clears Throat and puts on B.S. Face on*

    Casey. You are brilliant!!! What a marvelous idea. You have struck gold!!! But you know what a better idea would be so that you can attract more solid buyers…Instead of borrowing 50K, you need to borrow 100K+. You can’t take the chance and screw up by letting these credit challenged buyers take over your homes. There is a reason why renters will always remain renters. So with the first 50K get all your loans current and with the 2nd 50K+ give that as a cash back bonus to your homebuyers(+/- 15K/home). So you get to unload your homes to someone who cares about their credit so that they’ll keep paying the mortgage and you get off having to only owe 50K+ more to the lenders. And what lender wouldn’t think giving you 50K more now so that they could save hundreds of thousands if they decide to go via a short sale. So it’s nothing more than a win/win/win situation for everyone…Lender/Homebuyer/You.

  • Somebody said something about what if the loan adjusts….

    You’re right that’s definitely a concern because my first loans have a fixed rate for 2 or 3 years I think. Then it goes up to whatever the current interest rate is.

    So I would have to put something in the lease that says the loan is going to adjust or something along the lines of “I can raise the lease by X number of dollars” the verbiage I would get right out of my loan docs. Or I can give them a “balloon” of sorts. The option to purchase will expire at the adjustment date, so they have to refinance by then.

    But the next problem you were already thinking of…

    What if they can’t refi? Say their credit is not up yet or the house doesn’t appraise at that time?

    I definitely need to think this one through if I want to try to do this.

  • Casey - in the event that

    (1) someone loans you $50K, and
    (2) you find buyers

    How do you

    (3) service your credit card debt?
    (4) pay back the $50K?
    (5) pay back $2K to your friend?

  • 108. casey can do it
    November 28th, 2006 at 12:36 pm

    nah casey don’t think it through. thats not your style. just DO IT! lol.

  • test

  • Casey,

    (this turned out long)

    IF you can borrow $50,000…use that to jump start your NEW RE business, not bail out the old one. The old one is DEAD… dead as in “dirt nap”.

    My income comes mostly from buying and seller-financing houses, so I can share from experience the following:

    1) Buyers ONLY care about 2 things:

    a. The payments?

    b. The down payment?

    2) Buyers don’t care what the price is.

    Even if you decided to do a “no down” sale, if the payments are not in line with the neighborhood affordability, the only buyers you’ll get are the ones that aren’t going to pay you anyway.

    The due on sale clause is absolutely NOT an issue with these houses. No bank in its right mind would call these loans due when they find that a title were transferred. By the way, it takes the major banks about four months to be informed by their subscription services that the title has changed on any of their houses. To my knowledge, unless the loan rate was 4% fixed for 30 years with a 60% LTV, would a bank even consider forcing the new title holder to refinance the loan.

    Banks rarely call loans unless the payments get late, and even then, will ignore high LTV loans on a subject to sale, if they are brought current.

    Casey, if you can really tap $50k, then you should borrow it, put the proceeds into an interest bearing account, and pay the difference in interest rates. Then when you find a real deal, you are prepared to move on it.

    Your seller-financing plan would be excellent, if your houses weren’t so FAR under water (not including the back payments). However, the payments you could offer are grossly more than market value, and the houses you offer are not “magnets” for pride of ownership, credit challenged buyers.

    If these houses were brand new, I might say you had a chance at unloading them with over-retail terms, but they are used houses, in secondary markets…not a big draw.

    If my experience is any indication, you are simply delaying the inevitable by bailing the loans out, and trying to resell on grossly inflated terms.

    If you can’t sell on with P.I. payment to match a 100% financed house in your price range, on a 30-year loan at say 8.0%, then the prospects of finding a worthy buyer diminishes exponentially.

    My motto when seller-financing is, “It’s all about the payment, stupid!”

    I’m basically a “used car dealer” only with houses instead. Notice that used car dealers only talk in terms of the payment he can get for you, not the price. Price is never mentioned, if at all possible in negotiations. That’s the same approach you must take in selling those houses, if this is possible.

    Stash the 50 grand!

  • Casey Serin and Thinking are an oxymoron. Come to think of it I have never seen anyone as ignorant as yourself. You are truly as Thick as a Brick. I feel bad for all the well meaning persons that take the time to comment and want to give you advice. If stupidity would hurt, Casey, you would be screaming all day long.

  • 112. Wait a Minute
    November 28th, 2006 at 12:54 pm

    Why stop at 50k? Why not borrow another 500k?

    THEN, you can buy some more properties!!

    Do IT !!! Do IT NOW!!!!

    I know whom I am voting for in this year’s Darwin awards.

  • Hey, here is a new idea, one that Carlton Cheats would love …
    Borrow the 50K from whomever will lend it to you at whatever they would charge for it in fees and interest. Then you can be on Mr. Cheats imfomercial about how you walked away with “cash in your pocket”.
    Stop being a moron, you’re begining to bore me with the “consistent lack of sense” You are in enough trouble as is, but none of these lenders will actually cut off body bits (I think) to collect. Let it all go to bankruptcy court and the judgements and garnishments are going to eat your life for the next 8-10 years. But then inflation will be working in your favor (unless you keep dabbling with RE and never get a real job) … I’d move into one of the houses, bring it current with money from your job if you can, let the rest go and do as the judge says when you go to bankruptcy court. or lose all the houses, and same thing and get a IT job before your name becomes synonymous with failure … and your face becomes plastered on the front pages of news papers and you become un hireable. BTW - the bay area has the largest numbers of small IT firms who hire wihtout credit checks. They also pay a lot more than sac. Shack up with someone during the week, pay your damn bills and share of rent and utilities and stop being a leech.

  • I did a quick analysis. Out of 109 comments at this time, about 5 are positive (1 or 2 of those are likely in jest), the other 3 or 4 seem to be just as deluded as you are.

    The remaining 104 comments are advising you to forget about the idea. These are not haters, they are well-meaning, exasperated people, some of whom are still trying to give you advice.

    Who are you going to listen to?

  • Casey, with the current state of the real estate market; which includes but is not limited to property value would be creating much more difficult problems to fix if you rent the homes. Since your loans are
    ARMs, are really looking for disaster:

    1.) If your renters pay the minimum each month, the equity of the homes will erode; negating your purpose for renting the home to secure more equity in the first place.

    2.) When the loans adjust, you have to consider the current rate and the margin of adjustment and use the highest possible scenario when disclosing to your renters…that will most likely scare them away; once again..with the market and decreasing values…owing more on a loan than the home is worth will not fix your troubles.

    3.) Once you have allowed your balance to creep up to a certain point (past due payments) the lender’s can recast your balances based on the amount owed and that will cause a higher mortgage payment with much less room for payment options.

  • GET A REAL JOB!!!!!!!

  • If your idea is so great, maybe Rich Dad (RK) or Rich Dad (local) will help out?

    Or your new boss Chris? Maybe all three can go in?

    Also, please define “creative marketing”. Does it involve dressing up in a clown suit and standing on a street corner wearing a sandwich board? How does it compare to the marketing you’ve done in the past, was none of that creative?


    Sales of existing homes posted a tiny increase in October, the first gain in eight months, but the median price of homes sold fell by a record amount.

    However, the median, or midpoint, price for a home sold dropped to $221,000 in October, a decline of 3.5 percent from a year ago. That was the biggest year-over-year price decline on record. It marked the third straight month that home prices have fallen compared to the same period a year ago, the longest stretch of such declines on record.

    “The housing market is far from the bottom,” Naroff said in a research note. “Sellers will have to overcome their state of denial and start dropping prices even more to clear this market. And once that happens, we will then have to convince buyers that prices have stopped falling. We are a long way from that point.”

  • That’s great Casey.

    So now, you are willing to place others in financial jeopardy just to save your own skin. (Hint: there is a reason these people are financial challenged)

    Once again, very Christian of you.

  • Fred Knott: OK - I’m in. If Casey writes and posts a sentence or two demonstrating his understanding and correct usage of ‘lose’ and ‘loose’, I’ll kick-in $10.

    Casey: Here’s an idea. Answer this question - “What do you lose when you’re too loose with other people’s money?”

  • It seems you are avoiding BK because of the federal tax on the forgiven debt. If you could go BK, do you have a guess on how much you would owe in federal tax, legal fees and other debt?

  • You are simply trying to solve an unresolvable problem. Your only solution is to go bankrupt.

    Unless you see that, you are still day-dreaming.


  • I’m done with this blog. Its no longer interesting or even amusing. Its just plain sad.

  • Hey Casey -

    You are obviously a master player when it comes to hype, bubbles, blogging and buzzwords. Isn’t it obvious where to get that 50K, and possible much more?

    The VCs!

    Whether or not your site is fake is not even as issue. It doesn’t matter. You have:

    1) readers - probably a growing number
    2) advertisers - hopefully a growing number (and, hopefully you are charging the re gurus and ‘RE agents’ that use the comment section for self-promotion, including links to their own sites)
    3) the potential to go mainstream with a publishing deal. You can decide later if you want to be “The Onion” of sacto, or the Tony Robbins of Sacto. Whatever.

    I’m not kidding. Tell them you need a million to hire a couple of helpers (authors, ad sales) and give them 50% of whatever it is that may or may not ever be generated from the site and related properties - newsletters, trade show/parties, book/movie deals (not the real estate).

    They can give you some good advicee (once again - about the web site - NOT the real estate)…stuff like “DON’T say ‘Jamba Juice’…..say “My Jamba Juice Strawberry Blizzard Delight”, then share some info and a link, after signing a deal with JJ. You know? Just like you did with the books you link to, and the link to the Tony Robbins website. He IS paying you, right”

    And, besides the VCs, I really and truly think you just use the house in Sacto to throw Casey 2.0 parties. Meet and greet, a few speakers from the commenters gallery, etc. Sorta like the Web 2.0 parties, where the same 1000 people always show up, but who manage to charge attendees and sponsoirs (I’d pay to meet ya, get my picture on the flicker!).

    I’m dead serious. First party could be a “rent-party” kegger with a garage band at the Sacto house. Then maybe one in Modesto that includes a sponsor or two (Jamba? Rich Dad? Technorati?), as well as some break-out groups. It has Ken Kessey potential….Hells Angels, Web 2.0 navel gazers, a few VCs, the Jamba people, real estate agents from up and down the valley, PRESS, blog addicts, debt collectors, etc…

    And, it all leads to increased blog diuscussion of this site, which leads to more site revenue, etc……and, you can wait quiet a while before you decide if its satire or truth. Amazing.

    Still needs a porn angle, but you could be the Andy Kaufman of the new milenium (if you aren’t already). I’m dead serious.

  • Casey, on a different but more important side note.

    What in heavens name are you smoking dude?

    That’s some pretty potent hard-core stuff you have there - I want some!

  • It’s possible that if you put all of your effort into it, you might be able to save one house. Pick the one that is least encumbered, move into it, get some roommates in all the other bedrooms, and get some real income. Let the others go.

    That’s a plan that has a real chance of working, and if you did it, I’d be happy for you. Truly.

    But there is no way in hell you’re going to save all 4 remaining properties. Borrowing $50,000 to try to do it is just pouring more gasoline on the fire.

  • 127. Alan Smithee (aka gt)
    November 28th, 2006 at 1:51 pm

    I can’t quit this blog.

    For those of us that keep coming back…it’s one of those “oh-I-accidentally-bit/burned/wounded-the-inside-of-my mouth…and yet..I can’t..stop…tonguing it.” mysteries: pesky, irritating, painful; utterly fascinating and addictive.

    I stumbled on this brilliant mess during the equally amazing Aleksey Vayner escapade, another jaw-dropper of a guy from Uzbekistan.

    For the uninitiated, a summary:

    The Fun Dirt Details:
    (My vote for best way to blow two hours reading)

    This website/blog was a link that I followed from there and I promptly got sucked in.

    My reactions have run the gambit. A mix of mild shock, morbid interest, and clinical fascination with the idea (consensus?) that the founder of this dear blog could be ADHD/Borderline/Personality Disordered/Addicted/Delusional.

    And/or a plain old Capitan Oblivious.

    When one lays out their life on a blog it (by nature) invites open criticism and at the very least, voyeurism. Judgment is inevitable…but without being the mean ol’ b**** (I believe the Urban Dictionary parlance… and favorite term here is “hater”) I have to say– I’m just awestruck.

    I’m awestruck at the situation and more so at my crack-addictive need to keep reading this stuff. All of it.

    (Aleksey Vayner a liar, Casey Serin a neurotic addict?)

    A book should definitely be in the works. Not a book on real estate and personal implosion by Casey Serin…but an entertaining rollercoaster: a pseudo-investigative trainwreck non-fiction narrative on these two Uzbek gentlemen. A la the blackjack card counting “Bringing Down the House.” Couldn’t put that down either.

    The odd thing is, with both these guys, the audience doesn’t know when or where to guffaw, laugh, cry, bemoan, or just be incredibly pissed off at–at the ignorance? Avarice? Illness?

    Do we?
    I don’t.

    It’s why I keep coming back.

    On with the show…

  • loose
    15 entries found for loose. The first 10 are listed below.
    To select an entry, click on it. For more results, click here.
    loose[1,adjective]loose[2,verb]loose[3,adverb]cut[1,verb]fast and loosehang[1,verb]loose boxloose cannonloose endloose-jointed

    Main Entry: 1loose
    Pronunciation: ‘lüs
    Function: adjective
    Inflected Form(s): loos·er; loos·est
    Etymology: Middle English lous, from Old Norse lauss; akin to Old High German lOs loose — more at -LESS
    1 a : not rigidly fastened or securely attached b (1) : having worked partly free from attachments (2) : having relative freedom of movement c : produced freely and accompanied by raising of mucus d : not tight-fitting
    2 a : free from a state of confinement, restraint, or obligation b : not brought together in a bundle, container, or binding c archaic : DISCONNECTED, DETACHED
    3 a : not dense, close, or compact in structure or arrangement b : not solid : WATERY
    4 a : lacking in restraint or power of restraint b : lacking moral restraint : UNCHASTE c : OVERACTIVE; specifically : marked by frequent voiding especially of watery stools
    5 a : not tightly drawn or stretched : SLACK b : being flexible or relaxed
    6 a : lacking in precision, exactness, or care b : permitting freedom of interpretation
    7 : not in the possession of either of two competing teams
    - loose·ly adverb
    - loose·ness noun

  • Stop this already, you cannot pay your debts. If your going to borrow money use it for your lawyers. Seek consultation so you can get out of this mess! Haven’t you been watching the news? read the Wall Street Journal or the Financial Times. Home prices will depreciate, most of the California market will bust. Why throw even more money into these properties. This country should have stayed in a recession after the Tech bust, your mentality is a prime example of this country’s weakness:consumerism, impulsive borrowing, and get rich quick schemes. It’s a sad state we live in, we’re pretty much flipping the whole world to satisfy our greedy selves.

    At the very least be the last person to be in this hole, don’t drag others with your lease options. Admit that this game is over, there are no more continues. Go to the lawyers, plead for mercy, pay whatever the judge rules, and finally rest and make your peace with God.

  • 130. Yougottabekiddingme
    November 28th, 2006 at 1:58 pm

    Oh, good, Casey says he needs to think this thing through if he wants to do this.

    I feel so much better about the deal now, knowing that he will THINK about it. Cuz thinking will fix, for sure.

    Why would anyone want to take over your crappy loans? If they can actually afford the $3K per month payments, they’re going to be able to get their own loan, at better terms. Maybe not much better (maybe lots better), but better than what you’ve got.

    And since your houses aren’t ready, need work, look terrible and aren’t in particularly good locations, they’ll take their slightly-less-crappy-than-Casey’s loan and buy a decent house. Not one of yours.

    And thanks to all the media publicity you’ve had, even if you found abuyer who doesn’t use the internet and wouldn’t otherwise know, they will have heard of you, they will know you are skirting legality every chance you get, they will know your banks want paid and aren’t getting paid - they’ll know they have you over a barrel. They can afford to hold out and demand better terms/consessions/etc. that you can’t give. You can’t afford to hold out long enough to get an ink pen for them to sign with.

    I so want to hear from the prosecutor in even one jurisdiction in which our buddy Casey has commited fraud.

  • How can anyone give you feedback on getting another 50k when you don’t tell us the terms of the loan or the source?

  • Casey:

    What are you hoping to achieve with this scheme? The lenders would be better served if you would just give up instead of prolonging the process.

    If you borrow $50K to save the banks, the entity loaning you the $50k will be out when this house of cards falls apart. In addition, the bank will then have to forclose on the house anyway. In the meantime, you tenants/owners may have destroyed the house leaving the bank with even less.

    FILE BANKRUPTCY and start over.


  • 133. Ethical Realtor in DC
    November 28th, 2006 at 2:14 pm

    Why I wouldn’t lend you $5, much less $50,000. In your own words… “They (as in YOU) are “credit challenged” for a reason. People tend to stick with their patterns.” D’oh!

    A screw LOOSE and a money LOSER for sure….

    If there is indeed a source for this $$, assume it comes with all sorts of caveats a la the “mentors” who were going to teach you the ropes. I realize you are grasping ast straws, but I honestly can’t see a way out of this given you can’t lease any in a way that is cash flow positive and IF you found a rent to own tenant, you’d have to keep 30% of the rent in wescrow in case theyr exercised their option to buy. You can’t jsut spend it all (even if it is on the mortgage). As for D’s idea re. renting them out for $200 more than cost - duh - if they were worth that, Casey would not be in the position he’s in now.

    Do you realize that if you had been waiting tables at a good restaurant for every hour you’ve spent on the blog and the silly fast you’d be well on your way to getting yoru head above water by now - it’s easy at a higher end place to average $50+ an hour. It pi$$es me off that honest and reliable people like me end up paying for dishonest dreamers like you and the mistakes you make.

  • Are the properties insured, Casey? Here’s a way that way every dirty cent can be paid back.

    I heard this plan from a fire fighter. Or maybe I didn’t. The plan assumes that you are living in the houses, which is what you’ve told your lenders, right?

    Some morning fry up a pound of bacon. Eat the bacon, but don’t take the grease off the stove. Leave the burner on full blast until the grease catches on fire. Take the frying pan over to the sink, where you have flimsy curtains around the window above the sink. They will accidentally catch fire. Walk out of the house and wait until it burns down. Then call the fire department. Accidents happen.

    Repeat this process until you have enough money to bring the remaining houses current.

    Disclaimer: The above comments are intended as humor. The actions described above should not be attempted by anyone other than a trained professional.

  • What a great Idea…, just borrow 55K, you deserve 5K for all your hard work.. You are so close to pulling this off, Keep going you are going to make it. You are almost there!

    the american dream story.

  • 136. The Ghost of BK
    November 28th, 2006 at 2:32 pm

    “So many tangles in life are ultimately hopeless that we have no appropriate sword other than laughter” - Gordon W. Allport

    Casey: While in some ways I admire your tenacity I’m afraid you need a massive dose of reality. You son, are not only up financial sh#t creek minus paddles… your canoe is made of barbed wire and the storm clouds are fast closing in.

  • COME ON PEOPLE! Casey is OBVIOUSLY making up new stories/delusions every day while conducting some sort of social experiment to see if he can hang on to his blog traffic.


    My guess is when the truth of it all comes out, we will all find out that Casey is writing a book that he thinks will get published.

    If anyone finds any dirt, please post it. I am working on it.


  • 138. Cheech Marin
    November 28th, 2006 at 2:52 pm

    Maaaan, you need to put down the bong and get some fresh air.

  • 139. Goodstuff Leo
    November 28th, 2006 at 2:57 pm

    I actually know someone that can take over your mortgage payments. She does not have a penny of debt. You might have to worry about her diggin holes in your backyard. Let me state that her income is 10g’s a month. Do you need to see a pay stub? Just trust me she makes it. One other problem, she needs to be walked twice a day. You bought the highs, take the loss. I already told you, a good speculator knows when to take a loss. You are a bad speculator. When my dog gets on the couch, I grab her on the collar and say “NO.” She learned. Maybe you should just go back to Russia.

  • 140. Craven Moorehead
    November 28th, 2006 at 2:59 pm

    Casey. Your ideas are fantastic. I’m sure lenders are lining up to lend you unsecured funds.

    I wish you were a stock. I would definitely sell you short. You can only go down from here.

  • 141. A Book Could Be Your Ticket Out...
    November 28th, 2006 at 3:15 pm

    I truly think these other people are on to something here! You could write a book about your real estate trials and tribulations, and even include all of these comments. A publisher might give you a big wad up front! As much as everyone ’secretly’ enjoys reading this stuff, imagine what a great conversation piece and/or coffee table book it would make. Since you’re on the computer so much, it would behoove you to research publishers and get going on this. In the meantime, it’s obvious you need to file bankruptcy. Someone here said it perfectly, in that the sooner you do it, the less time you’ll have to deal with it on the back end.

  • This blog may be a joke, but I seriously want some of whatever Casey is inhaling. Whatever it is, it is some VERY potent stuff.

  • 143. ChasingTheMarketDown
    November 28th, 2006 at 3:25 pm

    Please Casey figure out a way to get the money…

    The more inventory for sale the farther down the plunge will be. We should all be thankful for people like Casey as his actions are having a good effect on the RE market.

  • Would YOU pay for a book written by this idiot?
    Get real.

  • Attention: Casey Serin


    Thank you for you opportunity interest I am most pleased to tell you about. I have business opportunity wherein house in Nigeria will be converted to a 20 room motel to server most Nigerian dignitaries whenever they are to be arriving from far countries. I am retired Army Captain with inside experience in land deals of this nature and have found upon this opportunity.

    This is deluxe resort to have swimming pool health club lawn tennis and other activity. This opportunity is for your eyes only and should not be exposed to other investors who have not to be contacted. I ask for your help in securing loans for completion of this property but do not want to expose my deal to others for fear they will act quicker.

    To receive partnership I request posthaste you dispatch information about your accounts so that we may proceed. I ask a nominal 2000 “Finders Fee” refundable upon completion of this transaction.

    Your investment will be minimal overall consisting of handling loan and financial documents from US of A for this project for proceeding towards loan. Banks here prefer monies in American currency so I can not proceed within my vast funds without an American loan that I can immediately repay. With loans you obtain I can take over payments on loans to complete sale and return you 10% profit per year on 2 million US.

    Please contact me soon in best regards as to completing this transaction. I know it is beneficial sweet deal to all parties enclosed.

    Omugwani Smith

  • 146. You are Fu**ed
    November 28th, 2006 at 3:41 pm

    Where’s the FEDS? They have to arrest you and hold you up as an example to others.

    Martha S****** sold her own stock and went to jail for it and you are walking free still?

    Is this really all contrived? This is a made up story.

    You are making this all up. People giving you advice when this whole story is a lie. There are no houses. There are no illegal loans. Sit on your fat a** and play this game to the hilt.

    This is all fabricated.

    If this were true you would be arrested right now, not shaking Hiawatha’s…I mean crazy kyosaki’s hand.
    Birds of a feather…you’re both full of sh*t

  • 147. Holden McGroyne
    November 28th, 2006 at 3:45 pm

    This is getting good now!

    It’s like watching a movie of a truck driver going down a steep grade witha hairpin turn at the bottom, whose brakes failed in a panic. Now, suddenly, in a strange moment of lucidity, our trusty hero has a moment of sheer brilliance.

    “If I just push the accelerator all the way down to the floor, I can accelerate. Yeah. Accelerate! I’m doing 95 now, but if I go, oh another 669,599,905 miles per hour, then time will stop - that will give me some breathing room.”

    “But if I can go another 669,599,906 MPH, then I’ll be going back in time and ultimately I will be back before I ever got in this mess and I can avaid it completely.”

    Casey, you only need another $50,000 if it will buy a “way back machine”

  • Take 5 of the 50 and get a vasectomy!

  • Casey…once again FILE BANKRUPTCY…

    With your internet saaviness and blogging/web skills..
    after your bankruptcy is granted you can still pursue a “career” based on real estate.

    HOW? Well, experience is the best teacher. That being said,
    you have 110% credibility in teaching/writing how NOT to go into foreclosure. Are you listening to the advice given only to find what you want to hear or are you really being objective?

    Once again, write a book, teach or advise. I’m sure you can sustain a good living; the traffic on this blog is enormous and I’m sure you have many possibilities to spread the word on your real estate “misfortune,” while cleverly getting paid to do it. You’re a smart man in technical knowledge and marketing; now be smart, call it quits and take the advice given here.

  • 156 comments. 6 ra-ra-ra-go-Casey, 150 WTF-Casey.

    This blog is worth every penny I paid for it.

  • 151. Bubba_The_Looser
    November 28th, 2006 at 4:11 pm

    Yes Casey you are becoming irrational

  • 152. Looking for pictures
    November 28th, 2006 at 4:12 pm

    What’s up with the no pictures with your posts lately? Guess that you had to sell your camera equipment. Hope that you got more than a Jamba Juice and a $33 charge from the bank.

  • Wait a second, don’t tell me, let me guess, the $50k lender will back out at the last moment.

    Casey you really need to come up with some better lies. There is no unsecured lender. There are no renters. Unless you are planning to rent to drug dealers or human traffickers, no renter that couldn’t qualify to buy the house, would be able to take over your mortgage. Doesn’t one of your houses not even have carpeting?

    As to the people who think he will be bailed out by a book deal, Casey would be extremely lucky to get a $50k advance for his story (which is owned by PRBlitz anyway). Casey, your 15 minutes of fame are trickling down.

    I think your best bet at this point is to try and get Kramer to taunt you with a racial slur, so that you can try to extort money from him.

  • 154. wealthyboomer
    November 28th, 2006 at 4:31 pm

    How much are you making off of the ‘click-through’ ads on this site?

  • “If I just push the accelerator all the way down to the floor, I can accelerate. Yeah. Accelerate! I’m doing 95 now, but if I go, oh another 669,599,905 miles per hour, then time will stop - that will give me some breathing room.”

    “But if I can go another 669,599,906 MPH, then I’ll be going back in time and ultimately I will be back before I ever got in this mess and I can avaid it completely.”


    You’re on to something … relativistic financing, or ATDMs (Adjustable Time Dilation Mortgages). After all, why use a mere calendar when mortages can be simply indexed to relative motion?

    At just under the speed of light, time would speed up for Casey so he’d only have to make “monthly” payments once a decade or so.

    Of course from the earth-bound lender’s perspective, assuming Casey ever got back home, he’d probably owe about $200 trillion.

  • 156. WHO IS PRBLITZ?
    November 28th, 2006 at 4:36 pm

    Who is PRBLITZ, and when did this ‘entity’ take ownership of Casey’s story? Someone please update the rest of us.

  • 157. More Interesting Than a Car Crash!
    November 28th, 2006 at 4:39 pm

    “People tend to stick with their patterns.”

    Duh, you’ve already proven that.

    “…borrow some money, bring the loans current…”

    First of all, is there anybody on this planet stupid enough to lend you more money? Second, what makes you think you can borrow money to solve the problems you created by borrowing money.

    “…since the buyers don’t have any skin in the game, what stops them from defaulting?”

    The same thing that stopped you - NOTHING!

    “I need something creative…”

    Isn’t it your creative real estate techniques that got you in trouble in the first place? Give me a break.

    Casey, it’s time to come back from your trip to la-la land.

  • As a wise man once said; “If you find yourself in a hole, STOP DIGGING”. Borrowing more money is just another form of digging. You are trying to catch a falling knife or glass jar at this point in the game. The result will be VERY nasty wounds.

  • Surely your REI buddies have some advice for you? Have you discussed this with Chris or your local Rich Dad?

    Maybe Chris will front you the money?

  • 160. Mr. Nice guy
    November 28th, 2006 at 5:00 pm

    Don’t let buyers in with nothing down. I have rentals and learned the hard way what happens when you let credit challenged people in with nothing down. They don’t pay.
    Never do nothing down with the credit challenged.
    If you offer those houses to the credit challenged with nothing down you will have buyers lined up around the block to move in and never pay you.

  • Casey,

    Forget about the houses you have, they are lost. Don’t file BK untill the forclosures are complete. If you can borrower the $50K on reasonable terms, birddog a house for your own investment. You can use your future profits to pay back the money you have already lost. Use your energy to move forward, quite chasing the past. The advice on this blog is mostly good, they just don’t take into account your desire to succeed in Real Estate. For the right property at the right price, there is always a lender.

    I think the fast was a waste of time, But made for good reading.

  • Even if Casey gets the $50k, why would anyone buy the houses for the full amount he owes on them when they are worth far less in the free market?

  • Holden & Free Advice:

    This may be the VERY thing Casey needs. Speed up = slow down (if you follow General Relativity Theory). Get as close to the speed of light (C) as possible to slow down time. But, and this is very important, do not look into the light.

    OK, now that time has slowed, your mortgages are racking up, say a maximum of $0.12 per Casey Day (that’s the Casey travelling at something like C-12 MPH). This serves two essential purposes. One, it allows Casey much much more time to think of how best to get out of this, and Two, it gives him nearly infinite time to perform any task at all (relative to everyone else).

    So, for instance, in Casey Time, he can go around and do something as mundane as picking up aluminum cans to recycle. If he really applies himself, in one or two Casey Months, he could realistically get enough cans to turn in for THOUSANDS of dollars, yet the rest of the world will have moved forward, oh, I don’t know, 2/10ths of a second.

    You see, this is how to make those $1,000 hours really pay off.

    The second dividend is that with time so slow for us, he can spend months getting enough cans to bring all of his loans current, get a nice balance to tide his $20k cashflow needs for several years and it won’t yet be time for lunch.

    On the other hand, if he were to throw honesty out the door, he’d accelerate at like 11 in the morning, and walk to all the banks and take the money out of the teller drawers. At near light speed, no one would even see it happen and no camera ever invented could record his image. Then, get the money deposited in some safe haven like Cayman Islands, and wire it back to Wells Fargo.

    Done properly, he’d have enough to pay off all of the properties with a handsome reserve to buy skyscrapers or maybe even cash out Donald Trump. If it raises any suspicions, just hit the go button a little harder and go back in time to the point where he was just about to sign the first deed of trust and look the seller in t he eye and say: “I don’t think this deal feels quite right. I’ll have to pass. Sorry”.

    Just like in Calvin and Hobbes.

    And if that doesn’t work, get Calvin’s transmogrifier out and change all of those bankers into lemurs or something…

  • 164. wealthyboomer
    November 28th, 2006 at 5:24 pm

    Are you planning to get your unsecured funding from one of those peer-to-peer lending sites?

  • 165. Mr. Nice guy
    November 28th, 2006 at 5:26 pm

    I suggest you go on a Guru Kool-aid fast.

  • 166. Robert Kiyosaki (fake)
    November 28th, 2006 at 5:26 pm

    Casey - you must remain strong. Ignore the haters here. All of the most successful real estate gurus have gone thru this before too. We were all laughed at and ridiculed for our ideals. For example Clint Eastwood was told early on that he couldn’t act. Walt Disney was laughed at when he revealed his plans for Disneyworld. Stick to your guns - no matter what.

    My advice is to do a stated-income neg-am HELOC for the $50K. Catch up on the delinquents, then do a stated interest-only wrap-bridge loan on three new investment properties that look promising. This housing bust has reached bottom. Remember, real estate never really loses value over time. Keep your payments on time going forward and your losers will become winners.

    Oh, and make sure you buy my new game CashFlow 202. It is quite expensive so you may want to go with the installment plan.


  • Our leading man states:
    “People tend to stick with their patterns. ”

    Go for the 50K, you have nothing to loose! At this point it is nothing but lose change.

  • If you can get your hands on 50K don’t throw good money after bad. Stuff the $50K under the matress & file BK. Find a property that you can sell for $100K and buy it for $50K all cash. These deals are not easy to find and you should expect to spend >40 hours/week for a whole year to find even one. Then you will have $100K, repeat the exercise and after two years you will have $200K. You can have over $1,000,000 this way in 5 years without borrowing a cent. Do the math.

  • 169. Crazee Trader
    November 28th, 2006 at 5:34 pm


    Nobody is going to lend you $50K. But a lot of different people may lend you like $100 to see you get out of your spot. You have something.. you have eyeballs looking at you. So, you might be able to get enough people to do it.

    Now, where can you get a lot of people each to chip in a small amount that will add up to $50K and that has the process in place to make that happen?

    That is a website that is a people-to-people lending system. You can put up an auction for $50K and see how many people fund you. You have to make the page, explain what you need it for, etc.

    This is not an ad and I have no affiliation with them. In fact, I think people who lend on that site are idiots. And I think your attempt to flip houses was pretty idiotic.

    But getting those homes into other people’s hands may help you get out of this situation. Can’t hurt to give it a try. I don’t believe you lose anything by trying to get a loan funded and it would be interesting to see how many people would throw in some bucks.

    I’d also contact the people at if I were you because they would get publicity from this. They should do something special for you. They want lots of publicity because they take a cut of each transaction so you shouldn’t give them that benefit without having them pay something for it.. maybe just by helping publicize your listing.

  • Okay, I fell for it, I thought this was site was real and Casey’s story was real. But now I know after this entry all this is fabricated. It is still entertaining though, just like pro wrestling.

  • His latest brilliant plan

  • I’m the only guru you’ll ever need, my son. I have some hot hot hot property in a developement in Guyana called Jonestown (built by yours truly). Last I heard there were 913 empty units!

  • I’d recommend consulting a bankruptcy attorney and seeing if that would be your best option. With one foreclosure down, your ability to borrow is over for 7-10 years. A foreclosure is worse than bankruptcy. It might be a good time to walk away from the situation. You can’t borrow yourself out of debt.

  • As a fishing enthusist I have considered investing in much crazier ideas than this one, just so I can quit my 9-5 job and fish all day!!

  • Martha S****** sold her own stock and went to jail for it and you are walking free still?

    Martha S****** went to jail for selling ImClone stock (a biotech company) — actually not for selling it, but for lying to investigators about the transaction.

    Technically speaking, I guess the ImClone stock was “hers.”

  • More foolish and ill-informed advice:

    “Don’t file BK untill the forclosures are complete. If you can borrower the $50K on reasonable terms, birddog a house for your own investment. You can use your future profits to pay back the money you have already lost.”

    There are all sorts of restrictions in bankruptcy about paying one group of creditors (e.g., his $50K lender) AHEAD of other lenders (e.g., his existing CC debts, his mortgage holders, his friends who lent him money, etc.).

    One of the things a bankruptcy judge will do is to take over deciding who gets paid.

    It is fatuous nonsense to think that Casey can borrow a new sum to buy a new house, then merrily declare bankruptcy and have his _other_ debts simply wiped clean. That is not how things work, even in the absence of the many fraud charges that will likely be levelled against Casey.

    You people, for the most part, know even less than Casey does about how the real estate and legal system work.

    By the way, I think it’s silly for Casey to be talking about borrowing $50K to “get his payments current.” The $15K per house, by his estimate, will likely rise to $20K per house in the blink of an eye (as in, in 1.5 more months). For one thing, the first half of the California property taxes become delinquent on December 10th. For another thing, unlikely any sucker, er, “credit-challenged buyer,” can be lined up between now and early January. And for yet another thing, at least one of these houses looks to be trashed inside and clearly needs about $10K of work, on flooring, kitchen repairs, etc. (Casey has not shown himself willing to do this work himself, even for properties in his own town, so he’ll be hiring people to do this.)

    Finally, the loans on these properties are way out of whack with reality. Even suckers, er, “credit-challenged buyers,” are not going to take over Casey’s inflated loans (inflated partly because he got money back, then spent it). What kind of sucker, er, buyer, is going to assume a $315K loan balance on a house which Casey is trying to short sell for around $100K less? (I can see someone moving in if they intend to put no money down, as they can then just not pay Casey and get a free ride for several months. Or they can open a meth lab, as we’ve seen in the Stockton-Fresno areas.)

    So, odds are very good that even if Casey could somehow borrow $50K, that he’d again be deeper in the hole in mid-January, especially if there are any delays at all in finding buyers.

    The only bail-out might be a sudden and unexpected upward turn in real estate prices, which, I suspect, is exactly what Casey is hoping for.

    “Just one more roll….I can feel the dice turning my way!”



  • I have 6k in student loans. I have the next 12 months to pay it. I had been thinking on going to a expensive gym that has a november promotion. It would cost me 500 for december and january. I’ve decided to pay my loan first, and as soon as possible, before thinking of leisure expenses.
    So please don’t think all 24 year olds are like Casey when dealing with finances.

    Wake up Casey! get a (very) good lawyer and file for BK. And get real now.

  • That’s a lot of problems… same with your last post, all sorts of problems… so many problems its almost paralyzing. Kind of like
    Option Paralysis

    The tendency, when given unlimited choices, to make none. Douglas Coupland, Generation X

    Also… see previous comments.

  • This blog is like crack. You know it’s not good for you, yet you keep coming back for more. Fellow posters, which of the following posts do you think we’ll see next?

    A) “I think the modesto renters might be meth heads!?!?”
    B) “The $50,000 fell through! I’m such a looser! :(
    C) “My sister-in-law kicked us out! What a ‘Hater’!”
    D) “Tonight’s jamba juice enima will cleanse my mind”

  • Casey

    I used to have $25,000 in debt. I was down to nothing. Then I learned how to count cards (blackjack). I have gone on to win more than $325,000. It really is possible Casey. If you have a good mind and can do simple addition and subtraction, you can beat the house. You have to be very very careful though, there was one time when I was asked to leave Treasure Island and another where the Mirage watched me for hours.

    These days I only play spot games here and there. When I was playing for a reason I was making $5-7K a day. Tax-Free too.

  • Assume mortgages from 50 people in default/near foreclosure in exchange for $1000/each.


    Place your name on the bottom of a list of 4 and mail your letters to a thousand people and ask them to send you, and the people listed above $10… just like you told others 10 years ago. Heck it worked when you were 14 didn’t it?

    I bet you were the “start one” with multiple aliases and PO boxes right?


    You are a fraud. You have been posting to yourself under several ficticious names. The game is up.

    Bye bye 15 minutes! Hello reality!

  • Sigh - the Nigerian take off is rich.

    Casey - I’m saddened you didn’t take my advice on creating notes that the banks can monetize 10-100 times face value in trade for erasing your debts. With BK looking you in the face, isn’t it worth a try? Surely you know someone back in the Motherland who can craft and stamp these instruments for you. You didn’t let ethics get in the way, did you? After all Western society has prospered on completely fiat monetary systems administered by private central banks for centuries now and look how good life’s been. Who says owing more than can ever be paid back is bad? With that thought in mind, here’s a new mantra for you when you’re meditating: monetize, monetize, monetize. Works for the USA.

    And by all means, take the 50 large as long as it doesn’t involve any body parts as collateral or body breakage if the debt isn’t serviced in a timely manner.

  • I’m done with this blog. Its no longer interesting or even amusing. Its just plain sad.

    But it is funny, especially this thread.

  • Too many great posts!

    If you insist on going down this path, please write a post on why you are so opposed to bankruptcy.

    Yes! Yes! Please explain.

    If you really want to pay back the banks, declare BK, get your self back on your feet, THEN repay them.

    Don’t put your self into a self-imposed debtor’s prison.

    I heard this plan from……fry up a pound of bacon….grease catches on fire… Repeat this process until you have enough money to bring the remaining houses current.

    Or until there are no more houses!

    Go BK.

  • Take 5 of the 50 and get a vasectomy!

    Are there any doctors reading this who would offer to save Casey this $5k?

  • This is better than lonelygirl.

    Casey, NOBODY believes this is real.

    Not even YOU.

  • 188. Daddy Warbucks
    November 28th, 2006 at 8:27 pm


    Let’s say I’m an invester who believes in you and am willing to loan you $50,000 to $75,000 to assist you. However, prior to my writing the check I want to know a few things:

    1 What is the return on my “investment” - this is a “loan” - not a gift - so what do you think are reasonable terms for interest and repayment of the loan?

    2 What is my guarantee or insurance that once you receive the $50K - $75K it will be spent wisely?

    3 How do I know the money will be spent on bringing the mortgage payments current?

    Please provide me (and the rest of the readers here) with an outlined plan of the expenses for your “creative marketing” efforts. Posting of an excel spreadsheet or word doc of your plan will help me to better understand your idea.

  • “My advice is to do a stated-income neg-am HELOC for the $50K. Catch up on the delinquents, then do a stated interest-only wrap-bridge loan on three new investment properties that look promising. This housing bust has reached bottom. Remember, real estate never really loses value over time. Keep your payments on time going forward and your losers will become winners.”

    Ok, I don’t have to ask “was that a joke”… a HELOC with credit scores below 680? I’m thinking not. With current prices of real estate decreasing monthly, the bust hasn’t reached’s still dwindling down. Real estate doesn’t lose value over time..just ask Japan!! This is truly unbelievably
    sarcastic advice!! lmao

  • Anon,

    I saw your test post. I’d like to hear what you have to say now.

    On another note what is it with the Uzbek culture in America now? Between Serin and Vayner we have the 2 biggest internet celebrities of 2006. Kind of like the British invasion of the 60’s or the Canadian entertainer invasion of the 80’s.

    I’m surprised Borat didn’t come from Uzbekistan. The countries largest export is BS.

    -Big Cheese

  • On the Loose / Lose argument & debate… have any of started to think about how flexible the English language is to pop culture? One example is I remember that you would sound like a complete ignoramus if you said the word “nu-cu-lar” instead of “Nuclear” about 10 years ago. Well now that George W is in office, I hear “nu-cu-lar” on the news (especially Fox…ugh) all the time. The official pronunciation of the word has shifted because of one major idiot.

    Now I don’t know about you but I am going to reverse the pronunciation of “loose” and “lose” as homage to Casey from now on. Kind of like an inside joke based on a watershed moment in pop culture (this blog). If enough people do this then the majority use of the word will change and Websters will have to update their dictionary. Now who’s the looser? Certainly not Casey or I or anyone else who doesn’t have a few marbles lose (or to loose) ? Am I right or am I right?

    That’s also why America is the greatest country in the world. Rah Rah!

    -Big Cheese

  • Sell a baby?

    Are you serious? Think of how ugly it would be.

  • Hey Casey. I know your time frame is ridiculously short, but don’t listen to these jugheads on this blog who tell you to go bk. Doing that will put you out the game for about 7-10 years. If you’re able to salvage the situation, you’ll just be out the game for 2-5 years max while you reboost your fico. I know a little about this stuff, I’m a 24yr old mortgage broker in CA who has purchased 7 properties in the last year.

    The difference with the way i did it (perhaps a lucky vision) was that 3 of the 7 I partnered with folks and used their credit. 6 properties are in LA county, and 1 (which is perhaps the nicest structure) is in San Bernardino. NON OF THESE PROPERTIES WERE CASH FLOWING AT PURCHASE. Also, 5 of 7 are all within a few blocks of each other, which enabled me to control my investments hands on.

    Here’s the deal, I haven’t been late on anything thus far. But what has kept me afloat was BUSINESS LINES OF CREDIT, whereby the outstanding debt is attached to the C Corporation. This cushion enabled me to bump my head(and bump it i did!) but still remain liquid while I learned how to rent, rehab, and figure ways to get rich.

    At this point (roughly 13 months later), 5 of the 7 properties are refinanced into the option arm, and are cash flowing about $100-250 per month (when you factor expenses and vacancy, I’m really breaking even).

    It hasn’t been easy at all…After the purchases, my fico went down over a hundred points! which basically slowed my progress from refi’ing quick, or adding 2nds, etc.

    I’m consistenltly 15-29 days late on my mortgages while i catch up in a slowing market. Luckily I’m not in a bubble neighborhood, and every few months new appreciation is being added to my balance sheet.

    Here’s what I suggest. Do your little plan to get the 50K, from anywhere. Rent out your props. Find some friends or family, or whoever, who has a 680 experian fico and up. Start a C Corporation(about $400 bucks to get a professional to file one.) Get the business listed with 411, and go to city hall and get a bizness license for the corp. Now, find a company that can help you “fund” your Corp. There are plenty of them out there(just goggle “business loans or funding”), but they’ll want either a large upfront fee of a few thousand, or they’ll want 5-10% of every line of credit you get approved for. Hell, start 2 or 3 C corps and get all of them funded whereby one person per corp will sign on as the “Owner” and vouch their good as the way they do business(whcih means they won’t default).

    This will work man, I have three Corps, and they have about $50K-100K each. Give yourself about 2-3 months from finding the people w/ credit, and finding the company to start the process before you start receiving money. Understand?

  • Casey, looks like the Fast paid off in spades. You are now refocused and back on the right track.

    Do not listen to the looser “Haters”, they are just jealous of your fast track to financial independence. Remember famous men like Charles Manson and Adolf Hitler overcame adversity and naysayers to achieve their goals.

    I would not limit myself with a $50k loan, that’s chump change to player like you. Rich Dad, Richard Gotyomoni, won’t even wipe his A$$ with a $50,000 bill, why should you?

    Also I would not use a “Sell Via a Lease Option (a.k.a. “rent to own”) or an AITD (a.k.a. “wrap around mortgage”) to rid yourself of this “non-performing inventory” (BTW the nerve of this inventory to non-perform).

    Instead I would structure it as a “Yellow Bellied, Side Winding, Back Stabbing, Oops you Dropped the Soap, No Lube, No Option, Prison Rape”. After all isn’t that what the Guru’s did to you?

    Keep your chin up “Lonely Guy”!

    I look forward to your next round of lies.

  • To Phillip Kaplan,

    Great fu*king comment.

    Big Cheese

  • Getting pretty creative here. $50k, that should be a challenge given your position. You could always eBay a kidney… =P

    I like the book idea. I think you could eventually take your story to a publisher, but that will take time… way too much time… As for the people who say “Who would read this idiots book?” You are reading his blog, aren’t you?

  • 197. Genna Talwart
    November 28th, 2006 at 10:24 pm

    Seriously, why would anyone “loan” you 50K? Is this actually a gift from some wealthy sympathetic relative or friend.

  • Casey, it is good to see you are still trying to come up with solutions. Please try to be realistic about what you can and cannot afford.

    Mr Flipper, please give me some advice (you can email me from the craigslist posting above). You seem reasonable. I would start my own blog, but it is much easier to wh*le myself on Casey’s. Plus, I do not have to take the ridicule from others or display personal information for the whole world to see.

    Here is an update on my situation.

    One house the prospective buying cannot assume the mortgage for 6 or 7 months because his BK has not been discharged for 2 years. On the second house the buyer is having a hard time getting the financing needed to purchase.

    We have to get at least one house sold so we can renovate the other. With 6 mortgages on 4 homes we spend our ENTIRE income keeping them current. In a few months another renter will move out and we will have three vacant houses.

    It is getting hard to sleep at night. One job loss would send us into foreclosure.

  • I have fifty thousand dollars. Why would I invest it in your scheme? I’ve got a solid 5% here and there!

    November 28th, 2006 at 11:17 pm

    I have to say something…..I used to be a corporate mogul (responsible and debt free) before I became chronically ill 7 years ago. As a result, I spend a lot of time on the computer, and am always in search of interesting information, as well as a few chuckles. This particular thread has provided me with both, and I just want to say there are some VERY witty people out there! So, to all of you strangers out there in cyberland, *Thanks” for the belly laughs all day today.

    And Casey, you will come out smelling like a rose and get some respect from everyone if you just do the right thing, and that is to file BK! Let us know when you’re ready to make yourself a better man. I GUARANTEE you’ll receive many accolades when it’s done.

  • Casey,

    Check out this story on Tamara Garber, a fellow Uzbek immigrant who made tons of money flipping houses:

    Not sure if this is a hoax but if it’s real it has potential for you. Also proof that timing is everything- if you did this 2-3 years earlier you would be a multi-millionaire who could OWN a Macaroni grill and eat there every day for free.

    Big Cheese

  • Casey:

    Could you elaborate on your opposition to bankruptcy? At this point, what do you have to lose?

    Also, how are your Wells Fargo accounts doing? If you’re bouncing checks for eating dinner, I’d be concerned less about forclosure and more about, well, eating.

  • Real or not, this is getting seriously boring. All sizzle, no steak, not even all that much sizzle anymore. Quality of comments is way down as serious folks drift away. I doubt prlinkbiz or anyone else could sell this story for ten cents. She’s no big dog either, part of the great let’s click on each other’s blog world for a few sheisters’ ad dollars each month, plus probably a paid shill for RK and whoever made The Secret, she’s a big fan of that. Chris is just another MLM king.

  • Casey,

    Have you contacted flip that house or something? You would be a perfect “scenario subject”.

  • 205. Borrow to build
    November 29th, 2006 at 12:48 am


    Here’s your simple plan.

    Borrow the 50k.

    Let all your houses go back to the bank

    Use your 50k to live and eat during The Great Depression #2

    Use the 50k to build your comeback

  • Sorry but who would want eggs and sperms from loosers?

  • […] The kid now wants to borrow another $50,000 […]

  • The only ‘buyers’ he will find are credit challenged (deadbeats) who have real trouble finding a rental due to no credit. They will agree to ‘buy’ just to land thier a** in a house and stop making payments immediately. You wont get a down payment from them though.

    Anyone experienced would simply never deal with deadbeats this is the end of road thinking. In CA once a deadbeat is inside the house it could take 12 months to evict. In TX i think its 30 days! whata great state.

  • 209. You are Fu**ed
    November 29th, 2006 at 1:32 am

    “I need something creative… I have an opportunity but I’m still checking it out. Will share it shortly.

    What do you think of my idea to borrow money, stop foreclosure and sell the houses creatively?”

    In all seriousness, if this story is for real, there is no harm in
    trying NOT to foreclose or file bankruptcy. The lease option is a good idea. It is the only way, if any, out of this hole. It is the MOST creative way. $15k down and you are current! 2 year term.
    There is a company in Boston that will collect the monthly payment and alert you if they are late. You can find them on the web. They write it up, Collect the payment and pay the mortgage.
    Do a google for this one.
    The big question is; Who’ll be interested in lease optioning a house that has so much controversy.
    No harm in trying to not go under,
    IF this whole story is for real.
    If it works, the only thing you have left is securities fraud.
    Hell, with your luck, they’ll ignore it if you can keep your payments. You WILL have to use an outside, reputable company to handle the option payment collection and mortgage payment. You Will have to record the contract. You Will have to use the option down money to clear your arrears or it won’t work.

    After a while, if you keep your nose clean, you can sell the note. But you’ll do what you want. We all know that. Right or wrong.

    It’s clear you bit off more than you can chew.

    Anyone out there want to lease to own these houses at the currently owed mortgage? 15k down. 2 to 3 yr term.?? Really. Anyone want to get these? Help Casey. The market will be better when option is ready to be exercised.

    There ya go Casey. Deep down we are all decent and would be relieved to see you get over this, that is, if this all for real and not made up for movies.

    (c) 2006 rubyOriginals

  • Casey going to is a waste of time. No lender there in their right mind would bid on him. He wouldn’t even get enough sympathy bids to get funded.

    Although some people with subprime credit do get funded there, Casey is less than subprime and at a ridiculously negative DTI. He’d have an impossible time getting a loan for 5k let alone 50k on Prosper or any other peer-to-peer lending.

    There isn’t a VC on earth that’d touch him.

    Remember, Casey was loaned 2 million dollars and his result was create debts of a quarter million. If he couldn’t turn a buck with 2 mil, why would anything think he’d do different with 50k?

    Regardless, the “idea” is stupid and doomed to fail from the start anyway. I believe Casey, in an act of desperation, is just distracting himself from the inevitable.

  • re: “If you have a good mind and can do simple addition and subtraction, you can beat the house.”

    Have you seen his checking account ledger?

  • Personally, I think borrowing Peter to pay Paul is a horrible idea BUT here’s a possible solution that might work instead:

    Ask Robert Kiyosaki to loan you the money.

    You think I’m kidding? You’ve met him. He believes in you. It would be great publicity for him… it sounds crazy, but if anyone can understand your plight, it would be him.

    Plus, if RK actually loans you the money, he would only do so under certain conditions (to protect his investment) and you’d probably learn a lot in the process. But if Kiyosaki takes a look at your situation and decides NOT to loan you the money… well, that speaks 1,000 words, doesn’t it?

  • See Savior’s comments on Nov 28, 9:39pm. May be on to somethin’…

  • 214. Buddy Bergman
    November 29th, 2006 at 3:25 am

    Does anybody understand finance on this blog!?

    Everyone is saying duck and run like a little B*TCH! I don’t get it. Do people not realize that digging a hole is a normal part of learning! It’s documented from several sources that Trump was @ 900 MILLION in the whole at one point. IT’S ALL ABOUT THE KNOWLEDGE OF CREATIVE FINANCE. Increase your knowledge of real estate finance, please. And leave the investors with no balls on sidelines.

    A national bubble is a figment of poeple’s imagination(pumped by investor funded media outlets). When one market is down, others are up. Seek where the $$ is and apply your purchases creatively. Use OPM, OPC(other poeple’s credit), OPT(other people’s time).

    You can make it through this, it’s not that bad, really. By the way, if you have to foreclose, just keep going. Don’t worry about the banks losses. The $$ they’ll lose isn’t even real money! Banks loan $10 out for every $1 the have in deposit. Read the history on how the FED was created. You’ll see that it’s all controlled by greedy men. Thanks.

  • 215. Time Will Tell
    November 29th, 2006 at 5:01 am

    Very wise thoughts, Ross.

  • 216. dumb da dum dumb
    November 29th, 2006 at 5:09 am

    I learned enough about Kiyosaki,,,

    he will lend casey 50K with $100 a month for 30 years but the last month’s payment is $50,000

    then he will claim that his “note” is worth $86,000

    or is that another mentor guru guy’s idea?

    Casey why dont you sell the rights to tattoo any ad on your forehead!

    I know you dont get sex, no woman would risk having offspring with you.

  • 217. Time Will Tell
    November 29th, 2006 at 5:40 am

    November 28th, 2006 at 9:39 pm

    Hey Casey. I know your time frame is ridiculously short, but don’t listen to these jugheads on this blog who tell you to go bk…..

    Oh, hey! Another moron who’s about to get his lunch eaten in this market. One of my recommendations is that you avoid the Casey mistake: don’t publish your fraud.

    Let me get this straight, you’ve got ~$2.5 million leveraged on these homes and you are clearing $3,000 per year? That’s a little over .1% before taxes, not bad. I’d take investing advice from you any day. What do you think about passbook savings accounts, or checking the coin returns on Coke machines for change? These sound better than RE to me.

    Post a link when you start your blog. I want you to be my guru.

    Stupid too
    November 28th, 2006 at 10:49 pm

    ..prospective buyer…BK has not been discharged for 2 years. On the second house the buyer is having a hard time getting the financing needed to purchase.

    And another one. Jeez, this place is going to the dogs.

    Casey hurry up and do something, you’re getting competition.

  • 218. Time Will Tell
    November 29th, 2006 at 5:48 am

    Big Cheese
    November 29th, 2006 at 12:02 am


    Check out this story on Tamara Garber…

    Tamara Garber is Aleksey Vayner’s sister. Makes you think, don’t it!

  • Ross Pruden: Casey, I believe, has well and truly burned the bridge to Phoenix.

  • SCapitalist: “As for the people who say “Who would read this idiots book?” You are reading his blog, aren’t you? ”

    Yes, I’m reading his blog - for free. I wouldn’t pay to read it.

  • Casey, all these comments here mean that your true calling, self-promotion, is the path you should follow. Forget the houses, just concentrate on becoming a guru like RK or CS and you’ll see the money being raked in. Selling “sweet real estate deals” to losers is better than finding the deals yourself.

    Three questions, though.

    1. Why are you opposed to bankruptcy?
    2. You say you may have someone who will lend you the 50K. Who is it and under what terms?
    3. Are you a naturalized U.S. citizen? You haven’t answered this before, and it’s important. If you ever face fraud charges, you can be deported as well. If you became a citizen after starting this, you can also be deported.

  • 222. thefed-ex-strategy
    November 29th, 2006 at 6:56 am

    take the 50k and go to vegas.
    The fedex guy did that when he couldnt come up with payroll.

    you`ve got nothing to loose and thats your only advantage.

  • Casey its not possible to borrow yourself out of debt.
    the market is working against you. no market changes fast enough. chap 7 is really your only out..
    You have alot going for you I think your a real smart kid, you will get rich in RE one day, I think if you play your cards right and are patient 5-8 yrs you will win. hopefully all these ads are
    helping. publish a book of all this content it will sell till the market changes.. good luck get rich quick rarely works.

  • Savior,
    You are wrong about the BK. You can get loans after BK. Foreclosure is worse than BK and he already has foreclosures on him, so a BK at this point will not do any more damage.
    In addition, why would someone with good credit want to partner with Casey on any deals? He brings nothing to the table that would benefit anyone. He would be dead wood on any deal.

  • 225. dumbererer and dumberereest
    November 29th, 2006 at 8:46 am

    id say take the money!

    if you FC & BK & 1099 on everything your still in the hole…

    wish you explained the terms, and what the total cost of the loan over how many months/years it is??

    when i was about 17 i got a lot of credit cards…
    i used to think boy are these people stoopid for giving me “money”

    i learned the hard way how having too much credit & bad credit and no plans for the future are a voilatile mix…

    the days of $1500, 3000K & 5,000 credit lines are over for me!

    $300 if im lucky, $400-500 after keeping them in good standing…

  • 226. Your Screwed
    November 29th, 2006 at 8:54 am

    Your finished. Your credit is shot and your screwed. You’ve lost everything and it will take years to correct your mess. You are the worst real estate investor I’ve ever seen. Give up now before it gets worse. You need to work at starbucks for 10 bucks an hour. I enjoy reading about your horrible investments cool blog but dude your done.

  • @ Kiyosaki :-

    I got news for you - Clint Eastwood - still cannot act.

    And neither Can Govn’r Schwarzenegger.

    And Casey would like to know if you’d spot him the $$ with the same negative amortisiation and what ever jargon you were spewing.


  • Why not borrow $100K so you can stay current until prices bounce back in the Spring?

  • @ Kiyosaki

    This housing bust has reached bottom. Remember, real estate never really loses value over time. Keep your payments on time going forward and your losers will become winners.

    This is freaking brilliant.
    Real estate in the long run, historically has just about kept ahead of inflation. Long run. Key word. Short run - freaking insane, nothing guaranteed. Win big, or lose big. Just like stock.
    In the last 5 years sac real estate has doubled or tripled, while jobs have literally vanished over seas, wages have shrunk, and building has reached a fever pitch. What part of this doesn’t scream “funky financing” like ahem … Casey

    Here is kicker #2 : The market can stay irrational for far longer than you can stay solvent. Casey is racking up interest and overdrafts and fees at the alarming rate of 2K a day. He bought at the very very top and cashed out at the time of purchase, and in atleast 2 of his houses you can buy a brand new bigger and better house for what he paid for his.
    A bottom - no kidding - How would you know. The NAR, CAR shills say so … wowee, I think I’ll trip over myself on the way to buying a dozen broken houses.

    Houses have intrinsic value - if you are living in them, or have them rented out with positive cash flow as in someone else is living in them. Else they cost you property taxes, insurance, utilites, maintenance and not to mention the actual payments on them. I can show you a 100 houses that are abandoned. and that is in my 20 mile circle. I think you need to “help” those people understand the “intrinsic value”.
    You ever hear of a $500 car that needs $1000 in repairs. Yea. Houses too, centex and Hovninian and everyone else is churning them out ever cheaper and in increasing numbers that there comes a point when a 30 year old house, with lead paint, asbestos insulation, a leaky roof and leaky plumbing will cost more to fix than a new house. Cars and houses differ in one aspect. Cars can me moved quite easily, houses are near impossible. So unless you are standing on some seriously precious soil, your house depreciates with the years. AKA - Location, Location, Location (BTW casey’s Sacto properties are not in the greatest locations - they are fairly close to town but it is a ghetto like neighborhood)

    I understand the goal was to get him to pony up the money for Cashflow 202 - so I’d not stand in the way there.

    Casey, you need to buy this man’s cashflow series, the whole thing, not just 202. I did and that is what made me so smart.

  • Casey,

    Do not despair. I felt the same way you did about a year ago but it is all fine now. Here is my story: I bought my first flip when I was 12 in 2003. I saved up all my allowance and put $248 down on an 80/10/10 but pulled $376 out! I felt like I made a killing.

    It was a little hard to come up with the morgege paimane each month, so instead of paying it right away, I got my big brother (he’s 14) to call the bank and say I had mono and the doctor said I needed bed rest for a week. (try it it works).

    During that week I really wasn’t sick. What I did was call some realotrs and I got 3 more houses under contract. They were all about 20 years old and in a decent neighborhood. I did one on a leasepurchase option, and the other 2 were 80/10/10s. This time I leared cause my brother said I was stupid for getting so little back at closing so I went big time and got like $900 each!

    What was really cool, is I had the realtor keep up the sign that said for sale in front and I told her I wanted to sell real fast. She said I could get like $100,000 more than I was paying just by having an open houses on the weekend! So I did what she said and you know what?

    I sold 2 of the 3 beofre I actually had to but them and made almost $2,000 between the 2. It was so cool until I had to go to this place called the title company to sign the papers and then when I was looking at the number I saw that the nice realtor lady was getting like 6% on each one of the deals and twice that much because she sold them to me and from me!

    It made me so mad that all she did was give me a piece pf paper to sign and then she got like tons of money. It said it wasn’t fair and she was just like, duh, that’s what we do. We get people like you houses and then we get other people to buy them from you. Besides your a kid and you are making serious money. More than $2,000 so just be happy. And I was and then I sold my last ones before my mom and dad found out.

    I’m 14 now and I learned my lesson. I need to wait a little bit and watch some more of thse shows on TV about how people can make even more than I did if they just put in a new stove and mow the yard.

    I told my dad I want a hammer and a tape measure and a level for Christmas.

    I hope this helps.


  • 231. dumbererer and dumberereest
    November 29th, 2006 at 9:50 am

    Facing foreclosure? 9 options
    Check your options, get help, be realistic — and most of all, don’t dawdle


    bet you wont post this…because MSN Money Contributing Editor “Liz Pulliam Weston” must be a what do you call em…

  • 232. dumbererer and dumberereest
    November 29th, 2006 at 10:04 am


    Q3 2006 total: 13,422

    Percentage from Q2: 9.94

    Percentage of households in foreclosure: 1.007

    Number of households for every foreclosure: 99

    Factor by which the foreclosure rate exceeds the national average: 3.658

  • 233. Mortgage Banker
    November 29th, 2006 at 10:06 am

    Casey my frien you are in sooooo far over your head it isnt funny.Call a BK lawyer and just end this mess.You are just going to keep digging yourself deeper and deeper,and will NEVER be able to get out of the hole you are in.Failure is not the end of the world,many great men have come back after a BK and prospered.

  • 234. dumbererer and dumberereest
    November 29th, 2006 at 10:24 am

    What novices need most: A reality check
    If you think real estate is a sure thing, it’s time for a little refresher course on risk.
    August 22, 2005: 1:47 PM EDT
    By Gerri Willis, MONEY Magazine

    i guess gerri willis is a HATER too!

  • 235. Tell Us the Truth
    November 29th, 2006 at 10:36 am

    Hey, you lied to us Casey. You said you were fasting, but you were obviously munching on pot brownies.

    I think this post is a little trollish by the way. You’re delusional and have serious character flaws, but you’re not stupid enough to still confuse lose and loose. Maybe I’m giving you too much credit. If the “loose” in the same paragraph as the “WIN-WIN” was a joke, that’s fine, but otherwise you’re just trolling for comments.

    Obviously it’s working though. My favorite backup plans from this thread are definitely selling a testicle and becoming a fluffer, although the Jamba Juice enemas is a great idea as well.

    Maybe you could also market your own hybrid version of the board games Monopoly and Life, only instead of properties, there would just be holes in the board that you throw the banks’ and the other players’ money into. (The cars could all be sweet Jettas with even sweeter rims.) The first player to bankrupt the economy wins!

  • 236. Gunnery Seargent Hartman
    November 29th, 2006 at 10:52 am

    Private Serin! I’ll bet you’re the kind of guy that would screw a lender in the a$$ and not even have the common courtesy to give him a wrap-around! I’ll be watching you!

    (For the sarcasm challenged, tis a Full Metal Jacket reference)

  • “Robert Kiyosaki
    November 28th, 2006 at 5:26 pm

    Casey - you must remain strong. Ignore the haters here. All of the most successful real estate gurus have gone thru this before too. We were all laughed at and ridiculed for our ideals. For example Clint Eastwood was told early on that he couldn’t act. Walt Disney was laughed at when he revealed his plans for Disneyworld. Stick to your guns - no matter what.

    My advice is to do a stated-income neg-am HELOC for the $50K. Catch up on the delinquents, then do a stated interest-only wrap-bridge loan on three new investment properties that look promising. This housing bust has reached bottom. Remember, real estate never really loses value over time. Keep your payments on time going forward and your losers will become winners.

    Oh, and make sure you buy my new game CashFlow 202. It is quite expensive so you may want to go with the installment plan.


    People would be better off not listening to a fraud like you. Why on earth would I want 22 books just to teach me how to fail?

  • Casey,

    I think you may be sitting on the key to solving this own mess and not even know it. this is a serious suggestion: Can you get your parents to put up their house for collateral to get you the 50K?

    It wouldn’t be charity, you would pay them back of course. To borrow moeny from someone, its going to come down to them trusting you to repay that money. Your parents can trust you.

    $50K is not alot of money for a 24 year old to pay back over 10-20 years. at least not compared to 2.2 Million. With ideas like this, I KNOW you are going to make it. Just imagine being able to put all this behind you with only a singed credit score to show for it.

    Another thought: Since your parents are away, can you sign the forms for them to secure the loan until they get back? Its easier to beg forgiveness than ask permission some times.

    I am impressed. I think you might actually come out of this smelling like gold. Keep your eyes on the prize. Remember that a rich person ‘is committed’ to becoming rich, a poor person ‘wants’ to become rich. Borrowing your way out of debt would be nothing less than a full on committment to becoming wealthy.


    With December typically the slowest month of the year for home-buying activity, agents are advising sellers that they probably will have to wait several months to attract a qualified buyer.

    “Time is not your friend,” Wilson says. He says many buyers are staying out of the market in hopes that prices will dip further.

    “The top 10 to 20 percent of homes in good condition, priced right, will always sell,” he said. “It’s the bottom that becomes cluttered.”

  • The only thing Casey has succeeded in is getting people to loan him money. Gosh, it was so easy to borrow two million bucks from some stupid banks by lying to them. The credit card companies didn’t mind if he ran his cards to the limit. Hey, a buddy even loans him three grand in cash like he earned it.

    My prediction is that he’ll continue on this path, always expecting handouts, always thinking he’s earned/deserved them, always talking like he’s going to use the money to solve his problems, always doing the opposite. A normal adult would be ashamed of these actions yet this blog shows he has no sense of what he’s done in the past, only what he might have to face in the immediate future. This is how a child thinks.

    He’s one of those rare human specimens who are capable of saying one thing, believing another thing yet acting in ways that reflect neither thing.

  • China. Kidney. $50k.

  • LOL, Tamara Garber…

    …a.k.a. Aleksey Vayner’s sister.

    So for every two losers exported from Uzbekistan, there is at least one winner. :D

  • @big cheese

    re: tanya garber

    You know that is Aleksey Vanyer sister?. The “Nothing is Impossible” dude..

  • 244. Chris Johnson
    November 29th, 2006 at 12:36 pm

    I’ve given up on Casey actually considering sound advice–his pattern is to ignore it or set up straw-man arguments to dismiss it–excuse me, I mean to say setting up a straw-man to show why it’s a loosing argument, with lose logic.

    So, here’s a winning idea: how about applying for federal government funds to turn these looser properties into group homes? Seriously, there are $100k grants available, plus several thousand a month per person to take in mentally-challenged parolees, and because it’s federal money, the cities can’t stop you from opening your group home. That’d get you in the black real fast, and I imagine your relationships with the neighbors have deteriorated anyway. Besides, gutted houses with brown lawns really wouldn’t be complete without tattooed guys drinking beer in folding chairs. You’re web-savvy, so your research shouldn’t take you too long tonight while you’re burping up your Macaroni Grill and Jamba Juice f(e)ast. Or wait, you can be really cool and do it on your laptop at a Starbucks! Act fast, because if a previous commenter was right, you’ve got NODs filed on your Sacramento houses.

  • 245. Voice of Reason
    November 29th, 2006 at 12:43 pm

    You live in the most litigious state of the most litigious country in world. Leverage that fact to your advantage. Sue the crap out of Kiyosaki, Sheets, Legrand, and the lot of your so-called gurus and get yourself out of this mess.

    Learn the modern American motto “Nothing is ever my fault; everything is always someone else’s fault”. If a woman can sue Micky D’s for hot coffee and a fat slob can sue fastfood for, well, fast food, then you damn well should be able to sue con artists for running scammer schools.

    DO IT!!!






  • 247. Robert Kiyosaki (fake)
    November 29th, 2006 at 12:53 pm

    Dear Casey,

    Just stick with it and don’t give up. I’ll be calling you my Rich Son soon. I have faith in you. Stay the course.

  • Casey,

    On your fast did you actually study the scriptures or did you spend your reflective time in la la land? If you did read the bible, tell us what it has to say about taking on debt? Proverbs 22:7 says, “The rich rule over the poor, and the borrower is servant to the lender. Isaiah 24:2 says, “it will be the same for priest as for people, for master as for servant, for mistress as for maid, for seller as for buyer, for borrower as for lender, for debtor as for creditor.” If you do believe the scriptures, why would you want to live in servitude to man rather than God? Why would you even consider digging a deeper hole for yourself, knowing that your scheme has an extremely high probability of failure, therefore doing more damage to your creditors than you already have? It seems to me the only way you’d get another $50k is to lie on another loan app. but with your “outstanding” credit I really can’t imagine someone extending credit to you.

    Stick a fork in it Casey. BK or make a run for the border.


  • I didn’t read all the comments, but have you tried pitting the lenders against each other? I’m pretty sure bankruptcy lawyers do this. They send a letter addressed to both lenders stating what kind of debt you have and how much you can pay and give them the options of “You give me ’such and such’ deal and I can pay” or “I go bankrupt and you get nothing(or next to it).”

    The problem is that I don’t think that you can pay on any realistic deal they could give. See a lawyer if you haven’t already.

  • “Now, find a company that can help you “fund” your Corp. There are plenty of them out there(just goggle “business loans or funding”), but they’ll want either a large upfront fee of a few thousand, or they’ll want 5-10% of every line of credit you get approved for…”

    Savior, good comment, but you did not mention to Casey that becoming a corporation involves several steps and
    it would be self defeating for Casey to start a corporation in
    his current financial situation as well as in lieu of his credit.
    Now, unless a corporation shows that it is producing consistent revenue for two years or so…it will be hard obtaining any type of credit line. Also, any credit that Casey seeks to obtain will have to be personally guaranteed by his personal social security number; regardless of him having a tax ID. Companies know that many business owners who incorporate can file bankruptcy and have little to no personal connection to their losses..can pick up and move on.

  • Tamara Garber is the sister of Alexei Vayner (who used to be called Garber). Vayner is rather famous for all the wrong reasons :)

  • “Stupid too” asked:

    “Mr Flipper, please give me some advice…

    [On] one house the prospective buy[er] cannot assume the mortgage for 6 or 7 months because his BK has not been discharged…
    On the second house the buyer is having a hard time getting the financing needed to purchase. We have to get at least one house sold so we can renovate the other. With 6 mortgages on 4 homes we spend our ENTIRE income keeping them current.
    In a few months another renter will move out and we will have three vacant houses.
    It is getting hard to sleep at night. One job loss would send us into foreclosure.”

    With what information you’ve provided, I’ll give you what I would do. (Fast Trak: Contact the nearest investor’s club to you, and let them know what you have for sale) These will be honest dealers, but they are in it only for their profit, not yours — but if there’s a fast solution that benefits you and them, this is where you’re going to find it.

    1) Owner finance both houses on a “subject to” approach (double check on the FHA house — if this was a subidized loan, or some other low-income assistance loan, “subject to” is NOT legal. All others it is.).
    2) Advertise “no credit check”, owner financing, 5k down, and take over payments. Do not quote a price. List P.I. only in ad., describe the house to the most likely buyers (your buyers won’t care what the price is). Buyers only care about what the monthly payments, and the down payments are).
    3) Use an Illinois Land Contract (or whatever you want) to formalize the transaction.
    4) Keep the buyer’s deed to the house in your safe keeping, until they refinance.
    5) Have your buyers make payments to a third party licensed note servicing company, that will send payments to the bank after receiving payments from your buyers.
    6) Find a mortgage broker that can help you get your buyers refinanced.
    7) After 12 mos, the note servicing company can provide a verified 12-month, on time, payment history from your client that the mtg. broker can use to qualify them for a new loan on the property — cashing you out.
    8) Any buyer that can prove 12 months worth of on time payments can get refinanced regardless of past credit.

    If you need more specific information look up;John I get nothing from this referral, except a warm feeling.

    Good luck!

  • 253. Achtung_Bubba!
    November 29th, 2006 at 2:42 pm

    Wow 276 and counting.

  • It’s one thing to describe this foreclosure/bk discussion as a train wreck. But that takes the focus off the fact: Fraud was committed. Casey, you belong in jail. Period.

  • What’s the shame of bankruptcy anyways? You lose this time and start over and can still make a decent living afterwards. Doesn’t bankruptcy mean getting a 2nd chance? Then afterwards, you have a better chance to accomplish what you want and need.

    And why so impatient? What are you trying to get rich so fast on the (formerly) hottest thing? So many ways to make money that you can usually just follow your interest. You take a lot of risk, but buckle under pressure or lack patience to find a better value for any of your deals (All of your RE deals, PRLINK deal, your used car purchase). Would you be a tulip trader if that was the hottest thing?

    Somebody already suggest the book, “A Millionaire Mind.” I would recommend the previous book, “A Millionaire Next Door.” I’m sure somebody already recommend it earlier, but I’ll say it again. It’s a contrast to some guru books out there.

    But whatever. I think you actually enjoy this hole you are in and like it even more the deeper you dig. I don’t think you know it, though. I still think you will be fine, but not in any way you imagined. Good luck!

  • Casey - take the $50K, put it down on a nice house in an area where you want to live, move in, then file BK.

    Just relax, stay lose and ignore the loosers.

  • Malcolm Clark, 35, was sentenced to probation for 3 years with the first six months to be served on home confinement with electronic monitoring and was ordered to pay $177,774.23 in restitution after pleading guilty to one count of wire fraud in connection with a Mississippi flipping scheme.

    Clark was indicted along with twelve other people including Richard Lucas, Kimberly A. Castle and Kenneth A. Stalnaker, all of whom were convicted of wire fraud. Lucas and Castle were also convicted of money laundering. Convictions for bank fraud and conspiracy to commit bank fraud were dismissed as the instututions defrauded were not federally insured.

  • Mr. Flipper,

    Thank you for the information. I plan on re-advertising the houses soon with the new information.

    I still have to work with a realtor (we live across the country) so the down payment can include the fees.

    It is nice to get a fresh perspective. Things are not dire yet. We still make enough to cover the mortgages. Just occasionally the desperation sets in. Although, I have to admit only after reading Casey’s blog. He makes me worried my finances will get that bad. I see how easy it was for him to get caught up in it.

  • 259. Confession&Confusion
    November 29th, 2006 at 6:20 pm

    So many amazing writers in this thread! The East coast coffee guy takes the cake today. I’m in awe of such writing talent.

    You can’t sue the RE gurus because I can’t believe in a million years they would tell you to lie on loan applications to indicate you’d be residing in those homes. What’s conflicting is that I would like to feel bad for you and your financial situation, but the mere fact that you LIED to banks indicates such a poor character. I truly want to feel bad for a young guy who wanted to get rich quick and who really wants to succeed, but you lie and cheat. Based on what you’ve done, you must sleep in the bed you’ve made.

    My father (retired now) became a huge success because he NEVER lied to or cheated anyone. He was also NEVER involved in any lawsuits whatsoever. You simply cannot win if you live a life of selfishness and lies. Listen to the majority of what people here are saying you need to do, not the few who say just what you want to hear.

  • The lenders are at this point waiting to see if they can recover any of their loses. As soon as they realize the game is over they are going to be prosecuting you for “mortgage fraud”. It seems most everyone is ignoring the fact that a crime has been committed.

  • 261. Casey on CNBC Tomorrow
    November 29th, 2006 at 6:46 pm

    Just saw on the home page that you’ll be on t.v. tomorrow morning. Like a few here have said, you may be able to get yourself into Hollywood after the broadcast! That’s what happens in America. You can reap from capitalism (or lack of) at its finest! It will be great to watch. Everyone be sure to grab your java and tune in.

  • As I said earlier this post would have more than 250 comments within 72 hours. It’s exceeded that in less time.

    Well done young Casey!

    Big Cheese

  • 263. Time Will Tell
    November 29th, 2006 at 9:26 pm

    Do people not realize that digging a hole is a normal part of learning! It’s documented from several sources that Trump was @ 900 MILLION in the whole at one point.

    IIRC (and I do) the Donald filed BK and got protection. Casey should too.

  • Hell yeah,
    hey - you may be crazy Casey Serin but at least you dont quit. Dont listen to the people on here trying to diagnose “addictive behavior” or other crap. Kick and fight till your dead or you might as well have never tried. Thats what I do every day here in this dump economy of Michigan (I think we have the worst housing market right now in the US) but if I didnt bust my butt and try crazy things, I would be one of the many getting out of the biz. Instead, I am making great cash! Sell a nut for the 50k, who cares, you only need one and have a spare for a reason.

  • 265. The "Solvent" Posting
    November 29th, 2006 at 10:58 pm

    Mr. Solven, your post was beyond cruel. Look, you have to realize that yes, CS has done some very wrong things. He has made some bad decisions, and will probably make more as he continues to learn from his mistakes. He’s just 24 years old. That’s not to say he’s excused for lack of character, but he IS young, and I can’t think of many people who would be brave enough (many people only think it’s stupid) to open themselves up to such ridicule.

    He has asked for guideance (whether he follows it or not), and he could’ve shut down this thread long ago. It’s not like the guy’s a murderer! He’s made some huge mistakes and he’s going to pay for them financially, and maybe even spending some time in the big house. I’m sure you’re perfect, right? Never done anything illegal or gotten yourself into debt?

    These RE gurus know how to play with people’s minds. A young guy like Casey is just a sitting duck for these shisters. Yes, his debt is huge, but I still say it takes a strong person to open themselves up to the world like this. Chill out dude and save the Hitler hate mail for something else.

  • I have read a few comments criticizing my young real estate empire(See my thread Nov 28th 9:38pm). They say the cash flow I’m getting isn’t worth the hassle. The masses obviously don’t see the big picture regarding real estate wealth. Property is the best hedge against inflation!(Yes America, property appreciation is nothing more than property inflation.) As the dollar weakens, and our expenses increase, so do our property values…Thus keeping us in the black.

    Folks are actually telling Casey to go get a job! There is increasingly no such thing as a job these days! The erosion of the middle class means you’re going to need to be rich, or you’ll be poor. And if you’re going to be rich, you need to do it before the dollar collapses, which can be 1 year or 50 years from now. Who knows!

    I’m fighting for Casey because I see him as a peer. The thing that destroyed Casey’s wealth process was definitely not the risk taking. Risk taking, as a basis, is obviously for winners. Rather, it was the fact that Casey’s risks were not “calculated” risks. He didn’t have enough knowledge of the Game to do what he was trying to do.

    At least he has the Guts to achieve success, unlike the masses who are afraid to mess up so they stay in a hole all their lives living a life of mediocrity.

  • I don’t think you understand.

    You will never be a successful Real Easte Investor/Developer.

    You seem to have learnt nothing from this situation.

  • 268. SAVIOR, Very Well Put!
    November 30th, 2006 at 8:45 am

    Finally, someone who knows what they’re talking about!

  • Casey,
    Just a thought. I’ve heard that there are other investors who are willing to forgo their money, by you signing over a deed in the event the $50k isn’t paid back by a certain date.

    I’m truly curious if you have actually tracked any of the information about your mortgages that are owed.
    A simple spreadsheet indicating the list of loans (amounts owed, interest rates, terms).
    I think you need to fully “materialize” the numbers in your head, or else you’re going to short-sight yourself … if you haven’t already. The reason I say this, is one of your comments “You’re right that’s definitely a concern because my first loans have a fixed rate for 2 or 3 years I think.”. It’s the “I think” part that has me puzzled. This is something you need to “know”.

    Good luck.

  • “Sue the crap out of Kiyosaki, Sheets, Legrand, and the lot of your so-called gurus and get yourself out of this mess. ”

    Now here is a good idea. Whether or not the suit has merit is of no consequence. Meritless lawsuits are filed everyday. This course of action would raise this blog and the publicity machine to new heights. Think Today Show, 20/20, Dateline. Moron vs. Guru. David vs. Goliath. Our Young Casey Skywalker vs. Darth Kiyosaki.

    LETS GET READY TO RUMBLE!!!!!!!!!!!!!!! May the Force be with you.

  • you are in a desperate phase and in denial. You think some sucker who reads this blog would loan you the 50k, or someone who hears about you story. you would be current on the loans and then still have to find someone to buy the houses. in case you still think you are some real estate investor; the market is down…houses sitting for months. yours are priced too high for a quick sale and the banks wont let you sell on the cheap with a short sale so the 50k will only go toward your living exenses. face it one by one the houses will be taken back by the banks, unless you find some greater fool by luck. even this blog has not moved one house. bankruptcy is the only future for you, and you are lucky it is available after all. STOP WASTING YOUR TIME THINKING OF NEW WAYS TO GET CASH OUT OF THIS HOUSING DISASTER YOU CREATED WITH THE HELP OF BAD LENDING PRACTICES. STOP SAYING YOU ARE A REAL ESTATE INVESTOR, INVESTORS MAKE MONEY, YOU ARE A SPECULATOR, A GAMBLER. you should have gone to vegas with that first 35k and put it on the roulette wheel! maybe if you get the 50k you should try that!

  • Whoever said this:

    “He has asked for guidance (whether he follows it or not), and he could’ve shut down this thread long ago. It’s not like the guy’s a murderer! He’s made some huge mistakes and he’s going to pay for them financially, and maybe even spending some time in the big house. I’m sure you’re perfect, right? Never done anything illegal or gotten yourself into debt?”

    …is dead on. I’m not Christian, but there’s great value in not always defining people by their past actions. If you do, then *any* time you lied in your life makes you a liar forever and always. If you *ever* stole, then you’re a thief, forever and always. The core issue is, do you think people fundamentally stay the same or are they capable of change?

    People make mistakes. People learn from their mistakes. Sometimes people continue making mistakes over and over again until they finally make other choices. Casey appears unwilling to make different choices because what he’s currently doing works for him… which is neither right nor wrong — it simply is. And who knows? Maybe he will learn and pull out of his situation. The only true failures in life are those who never take risks and I’ll bet you a crisp $100 bill that everyone attacking Casey’s character has never taken risks that fail spectacularly.

    Do I feel he’s gambling? Yep. Could it work? Maybe. Only time will tell.

    But no honest question is a stupid question, and I credit Casey for being open enough about what he’s doing that others may learn (although, as I’ve said before, it would have been wiser to keep this blog anonymous, for fear the Truth Boys might come knocking).

  • 273. Time Will Tell (fake)
    December 1st, 2006 at 1:16 am

    Property is the best hedge against inflation!(Yes America, property appreciation is nothing more than property inflation.) As the dollar weakens, and our expenses increase, so do our property values…Thus keeping us in the black.

    Long run, over the long run. What happens if the market goes down 20%? What if inflation spikes and your ARMs skyrocket? What happens if there’s a recession and your area is hard hit…you can’t rent?

    The risk to reward ratio is marginal. If the houses cash flow, great! You can do very well. If they don’t, you are 3 months away from being Casey II.

    The only true failures in life are those who never take risks and I’ll bet you a crisp $100 bill that everyone attacking Casey’s character has never taken risks that fail spectacularly.

    You’d win that $100 bet: I never take risks that fail spectacularly. Do a risk/reward analysis and figure what’s my downside and what’s my upside on a deal and set my stops so I don’t fail spectacularly.

  • What Young Casey does works for him? How the [expletive deleted] does it do that?

  • Stop spelling losing something as “loosing” something. Its everywhere in your blog and annoying…

    Sorry, great blog

  • if I pay attention to all the articles I’m going to need a therapist. I just spent about 10 minutes catching up on Casey Serin’s blog. Until today, I have read Casey with some skepticism, some pity, and a fair amount of frustration. What I read today has caused me to form the opinion Casey might truly need the services of a well trained therapist. Casey has developed a plan to borrow $50,000 to get himself out of foreclosure. This makes me think Casey no longer is based in reality.

  • My Houses Creatively The buyers will assume the current mortgage balance and refinance later when … payment to bring my loans current, which is about $15k per house by now. … What d… Post by: Borrow 50 Grand to Stop Foreclosure and Sell My Houses Creatively

  • Well most rich people go bankrupt twice in their life. You are definintely about to do for the first time.

    Although orignally I thought that you were a good guy, full of ambitions and wanting to do well. and though u would succeed. But it seems like you are just ripping people off like an unethical don’t care, don’t understand person who lies on his paperwork to get ahead.


    U don’t pay people back, I’am not hopeful for you then at the moment, take and not give. People give you advice, and u simply ignore it?

    Sounds like u have an attitude or ego problem.

  • “Well most rich people go bankrupt twice in their life. You are definintely about to do for the first time.”

    Do you have some citation for this alleged statistic? It is not commonly presented in Fortune, Business Week, Forbes, etc.

    Personally, about a dozen of my best friends are multimillionaires. Another dozen or so are probably MM, though I don’t know for sure. A few have hundreds of millions, and I know a couple of billionaires (though not closely).

    This is in the modern economy. Typified by Google, Oracle, You Tube,, Apple, Intel, AMD, EBay, Yahoo, FaceBook, and about 50 other such companies.

    Very few of the entrepreneurs I know ever went through bankruptcy. Bankruptcy usually wipes people out, unless they are “connected” in the way Donald Trump was.

    Casey thinking of bankruptcy as helping him on his course toward riches is a lot like a street punk thinking a stint behind bars is part of his “career.”


  • Casey

    You need money fast - so my advice is to go out and get a job - just to keep this show on the road.

    You obviously are pretty competent with computers, this site is evidence of that.

    How would you like to earn £8-10K a month?

    I saw this great computer contracting job advertised that I think may be just right for you. Now use your selling skills and apply for this job:

    Incidentally, I’m a Tony Robbins fan and I got out of deeper trouble than you are in at the moment by following his techniques (thanks Tony).

    Try to beg, steal or borrow a copy of ‘Unlimited Power’ and try to take in some of his advice.

    Kind regards - don’t give up hope!

  • Original post: Borrow 50 Grand to Stop Foreclosure and Sell My Houses Creatively by at Google Blog Search: foreclosure houses

  • Free Information How-to Stop Foreclosure In 72 Hours Or Less

  • audience doesn’t know when or where to guffaw, laugh, cry, bemoan, or just be incredibly pissed off at–at the ignorance? Avarice? Illness? Do we? I don’t. It’s why I keep coming back. On with the show… · 246. Alan Smithee (aka gt) November 29th, 2006 at 8:16 am All: For the record I would never support the idea of Mr. Serin writing his own book, as much as I think that a good (Exposé/Commentary is usually not first person.) Besides the fact that he has a tenuous grasp on the finer points of the English