February 1st, 2007 9:30 am
California Properties Stopping Foreclosure Update
Since things didn’t work out with Zack the investor and finding a buyer to take over my payments also didn’t pan out, I decided to put my South Sac Realtor on the job (since my other realtor is too busy to help me on this one). I send him the documents he needs for the short sale and now I am just waiting to hear back.
Even though the bank already approved a short sale at 248, my South Sac realtor tells me we need to list property at 239,000 in order to get any offers. Keep in mind I have one loan with a balance of 295 on this property. That’s was 100% financing back when I bought it a year ago. At that time it could have appraised at 315.
Wow, the market really took a dive here in Sacramento. We’ll see if we get any offers and if the bank is going to accept it. Hey, it’s worth a shot. Might as well try to salvage the situation and pay back the lender as much money as I can instead of just letting this thing go to foreclosure. I don’t really have anything to lose by trying.
Larchmont Dr, North Highlands (Sacramento), CA
Since the original 220 buyers backed out we’re back on the market waiting for more reasonable offers. The agent tells me that she’s receiving low ball offers but is not presenting them because the bank was VERY firm about not wanting to go any lower on the short sale.
She said if she gets an offer right around the 220 price then she will present it. Otherwise, she told me to brace for this thing going to foreclosure. (I don’t need to brace, I’m gratefully that at least I’m not living in the property and I never rented it out to anybody, otherwise I would have to go an tell them the bad news.)
My awesome modesto real estate agent Larry is in the process of doing a short sale on this property. We have a buyer that is coming in a 270 CASH offer and yesterday we just got a backup offer for 250. Both are going to the bank for approval.
Great to have such good team players!
–
No news on New Mexico property yet aside from reducing the price to 469 to get some offers. I will be helping the agent there with the short sale negotiations since he has never done it before. We already have an auction date so the time is ticking…
I will be checking up on the Utah situation too when I get back to Sacramento…
75 Comments
February 1st, 2007 at 9:41 am
The agent tells me that she’s receiving low ball offers but is not presenting them,/b> because the bank was VERY firm about not wanting to go any lower on the short sale.
This concerns me on your behalf and it should concern you. By law, as I understand it, a real estate agent is required to present to the client every offer. If she isn’t abiding by that law, what else is she glossing over?
February 1st, 2007 at 9:44 am
Hey, Thanks for the updates..
Do you think that you can write an informational article on how to do a short sale? With answers to frequently asked questions such as how do you go about negotiating a short sale with the lender? What about the second mortgage? and do you have to be in defualt to negotiate a shart sale at all? I would like to use this article on my site, it could really help alot of people. Most people are in the same situation as you (just not as bad).
February 1st, 2007 at 9:56 am
Casey: almost as irritating as your lousy spelling and phrases like “sweet deal!” is your lunatic belief that you have a “team”. You have no team. (”Whee! I’m on Casey’s Team!!”) Any team that may exist Out There is not your team. You direct no team.
I beg you, yet again, to remove your head from the last six inches of your intestine.
February 1st, 2007 at 10:03 am
Julie @2 -
I’m pretty sure Casey would be the worst person in the world to write any kind of real estate advising article. Did you notice how many things on that list “didn’t pan out” or “fell through” or “didn’t work out”? That’s not a sign of someone who knows what he’s doing.
February 1st, 2007 at 10:17 am
Casey,
I don’t see anywhere on your spreadsheets that you’re paying insurance on your houses. You do have insurance, right?
You know you’re contractually required to insure your houses, right?
You know what the second “I” in PITI means, right?
February 1st, 2007 at 10:27 am
No, no, no, NO. Lesson one for today: You cannot make money in RE by selling off properties for less than you bought them. The gurus should have stressed this for you in the RE courses you took. By my counting, you will be loosing $250,000 if your properties flip at the prices you are offering them at.
Repeat to yourself: In order to make money in RE, sell properties at prices HIGHER than you buy them for.
February 1st, 2007 at 10:57 am
@ Julie, post #2.
You own a website called Home-Flip, and you dont know how to do a short sale?
Sign me up baby.
February 1st, 2007 at 10:59 am
With regard to the Muncy Drive, Modesto property. You have two offers at 270 and 250 (and that is what the house looks like it is worth to me - WIN! WIN!). You say they need to go to the bank for short-sale approval. Your loans (and therefore, liens) on these two properties as follows:
1st: $258,093.78 @ 8.625% = $2,009.81/mo
30 Yr Adjustable Rate Mortgage with Countrywide
Fixed Interest-only payments until April 21, 2008
2nd: $64,556.19 @ 11.25% = $627.43/mo
30 yr note due in 15 with Select Portfolio Servicing
Don’t both banks have to approve? Did you get a pre approval for a short sale like on the other property or are you just hoping that a $55,000 shortfall over two loans is going to be OK? And how do two banks decide how to partition the shortfall? I have no idea how this goes. This could be a learning lesson for us so give us the lowdown. Here is your opportunity to actually help out rather than tell us again how you have limited yourself to dining out only four or five times a week by sheer willpower alone.
There are two liens, right?
February 1st, 2007 at 11:13 am
P.S. Perhaps you were thinking that all these losses can be offset against your gains and produce no income taxes in 2006 and 2007.
Not so. The IRS allows you to deduct only a maximum of $3,000 of your losses in each year. But you could look on the brighter side, because it appears to me you can hit the $3,000 annual loss as far as they eye can see.
February 1st, 2007 at 11:32 am
Casey,
Good update. Keep focused on the task at hand.
FT
http://www.MillionDollarJourney.com
February 1st, 2007 at 11:32 am
A realtor has to present any offer to the sellers even if it’s $1
Some bad or new realtor doesn’t do it and sellers or buyer’s agent can report to DRE
here’s the link
http://www2.dre.ca.gov/PublicASP/pplinfo.asp
http://www.dre.ca.gov/
February 1st, 2007 at 11:47 am
@CM SE
No the Realtor does not have to present ALL offers if the client (Casey) sets a minimum it will accept. If Casey (and the bank) sets a minimum and there is an agreement between the Realtor and client then the offer does not have to be presented
February 1st, 2007 at 11:53 am
Hey Casey,
Glad to see some updates on these properties. Have the lenders stopped calling you? When you are that far behind in payments, when do they stop calling you?
After the banks agree to short sales and it sells, can they still go after you for the difference?
Glad to see some progress being made, keep us updated!
February 1st, 2007 at 11:58 am
What the problem with having renters. If they have a lease terms past the foreclosure sale date then the new owner or the bank would have to honor it or pay them to vacate. You could have collected some rent during this fiasco! Shame on you for not being a little proactive. You think Trump would have any qualms about renting his properties should he be facing foreclosure? Hell no. And, why should you?
You need to get a peon job and resolve yourself to being a peon! Dummies like you… don’t deserve the privilege of becoming an investor.
February 1st, 2007 at 12:05 pm
Casey, I’m glad to see you are making progress. You just may come out of this situation bankruptcy free; but just know that time is running out quickly. If you are able to “pull this off”, you will set yourself up from Prime Credibility - in dealing with motivational speaking, seminars etc.
People will pay dearly to hear your story and shed insight into helping their situation. And at this time where foreclosure rates are record, your timing wether intended or not, couldn’t be better. Usually marketing makes or breaks business ventures; since you have proved to be somewhat of a marketing genuis…well GO FIGURE.
Good Luck…keep up the productivity and accountability.
February 1st, 2007 at 12:19 pm
Does it hurt to try to negotiate a short sale at this point? No, but don’t spend a lot of time on it. Your focus needs to be on finding jobs for both yourself and G. If something works out, great. But the difference between another foreclosure or a short sale on your credit report is pretty inconsequential at this point.
February 1st, 2007 at 12:26 pm
Glad to see your trying to make things work
February 1st, 2007 at 1:41 pm
It’s pretty obvious you weren’t looking at the state of the market when you were buying. You would have done a better job getting 0% credit cards and playing the stock market…or hitting the tables in Reno or Vegas. Either way, you enjoyed your gambling and lost real bad, without the leg breaking incidents.
It’s best to cut your loses now, pay what you can, declare bankrupcy and then get your life back together. You obviously don’t have what it takes to make easy decisions in a clear cut housing market as it continues to fall.
This is a great example what happens when easy credit falls into peoples hands. And it also shows that you used you houses as an ATM (What’s the deal with $160k credit debt?). Someone made off with tons of money from these housing deals and it wasn’t you. Remember, you are a Christian who shouldn’t be so greedy. The American taxpayers are going to pay for your greedy habit. You just need your azz kicked for being so stupid like this!
February 1st, 2007 at 2:24 pm
9.
Perhaps you were thinking that all these losses can be offset against your gains and produce no income taxes in 2006 and 2007. Not so. The IRS allows you to deduct only a maximum of $3,000 of your losses in each year. But you could look on the brighter side, because it appears to me you can hit the $3,000 annual loss as far as they eye can see.
Gains? No job. No income. No profits. Gains are the least of Casey’s worries.
I’d be far more worried about the FBI. They get paid for getting winnable cases for U.S. Attorneys. The IRS? They get paid for getting money into the U.S. Treasury. They’ll quickly move along to someone with assets they can actually seize.
And I’m all for that. As a taxpayer, I’d much rather get my “share” of someone’s half-million dollar booty now — not some 25% garnishment of wages from someone who won’t even get a job.
February 1st, 2007 at 2:26 pm
So, where are you traveling to these days?
Some of us would be interested in hearing about the details of the offers you receive for your properties. Posting that would give some insight into how real RE investors operate.
February 1st, 2007 at 2:29 pm
Case…
Let the NM agent who’s never done short sales before negotiate it anyway. He can’t do any worse than you.
Better for that lender not to see you in person & understand what a clown you are.
February 1st, 2007 at 2:33 pm
Friend 2 (Post #5)-
Not only does he need insurance…he needs VACANT HOUSE INSURANCE.
A home that is unoccupied for 30 days is considered vacant for insurance purposes. If there is only a basic homeowners’ policy in place and anything happens, subsequent claims will be denied.
I will bet right here, right now that NONE of Casey’s homes have EVER been properly insured.
February 1st, 2007 at 2:45 pm
@ Duane LeGate #7
Are you saying that a successful flipper should have expertice in short sales? It’s my understanding that a short sale is a failure on the same order of magnitude as foreclosure–something that shouldn’t happen if the flipper correctly appraised the property to begin with and bought at the requisite steep discount.
By the way, does anyone have a detailed success story of a real flipper? I’d like to see the actual properties (address, etc), purchase price, selling price, fixup costs, etc. John T. Reed is the only real estate expert I am aware of discloses his full real estate history. Unfortunately, he is not a flipper, and he only owned owner-occupied and apartment buildings–and his history is unimpressively short and outdated.
I think there’s a lot of confusion about flippers right now; its unclear to many what a real estate flipping operation should look like, and there are few public examples. The “gurus” are worse than useless, because they dont even tell you their personal history, or the real history of others who have been successful.
February 1st, 2007 at 3:01 pm
FuturesTrader the Casey movie will be much better than “The Pursuit of Happyness”, with Brad Pitt as Casey and Angeleina as the lovely G. Set in Sac we will watch how Casey goes to facing forclosure to the Donald Trump of the West Coast when he flys of the Casey Towers (formerly known as Saca Towers) heliport at the end. Robert Cote’ (played by Sean Connery) and Tim from MBA (played by Alan Alda) will get Casey to focus and we will watch as he flips his way to sucess with the help of a good looking Sac Realtor (played by Matt Damon)…
February 1st, 2007 at 4:19 pm
Get back to Sacramento?
February 1st, 2007 at 4:37 pm
HO HO HO It’s Santa Flipper Clause
@ Sac Realtor #26
We could get John Belushi to play Robert Kiyosaki
Santa Flipper Clause
February 1st, 2007 at 4:50 pm
Any offer that a real estate agent receives must be presented to the seller. I don’t think she doing her job if she is not presenting any and all offers.
You need to check with her and also…realize that what you think is a good job is not. She is violating the code of a real estate agent.
An another thing…if there is a short sale you will not have paid back the bank…they will have forced your hand since you have only two alteratives…short sale if they grant that to you or foreclosure…either way the bank is screwed…doesn’t sound like anything nobel on your part.
February 1st, 2007 at 5:02 pm
One more thing…if you do effect a short sale…the amount that the bank foregives becomes earned income and will be taxable. If and when you declare bankruptcy, you will still owe the tax on than unless you wait for over three years after you have filed to do the BK. So in short you will still be owing money after you have gone BK. And the penalties and interest on that should keep you plenty busy seeking “sweet deals” to pay the IRS off.
Still don’t know what you think you’ll gain by doinf short sales.
February 1st, 2007 at 5:16 pm
best of all, for those planning for the long term, 2009 could be primed for a comeback.
– ha ha casey can you just go into a holding pattern ??? sweet deals just ahead.
February 1st, 2007 at 6:18 pm
UH…Duane LeGate wrote:
@ Julie, post #2.
You own a website called Home-Flip, and you dont know how to do a short sale?
Sign me up baby.
______________________________
The Voice of Truth says:
JULIE NEVER SAID SHE DIDN’T KNOW HOW TO DO ONE. SHE ASKED CASEY D.A. IF HE WANTED TO WRITE AN ARTICLE FOR HER SITE. YOU ARE RUDE! What an ***.
February 1st, 2007 at 6:23 pm
I will donate $25 to your church RIGHT NOW if you provide us with proof that you actually tithe and have done so consistantly for any length of time.
‘Cause I call B.S. on that one!
Honestly, if you were faithful in your tithing, you wouldn’t be in the mess you are in. THINK ABOUT IT!
RESPONSE?
February 1st, 2007 at 6:52 pm
Hey, I’ll buy all of them - $50K each, all cash no loan contingency. Try and see if you can get that approved by the bank.
February 1st, 2007 at 7:03 pm
To: Aaron @ 25
Oh there’s plenty of real flippers out there and always have been. Who do you think has been buying houses at sheriff’s sales for the past 100 years? Flippers, that’s who, except they don’t usually call themselves that. The successful ones are middle-aged and above and have a good pot of cash at their disposal, typically hard-earned cash saved up by scrimping and saving when they were younger and which they are very reluctant to lose. They also typically have some experience in the real estate business, such as construction, rental management or finance, so they know something about the merchandise and market they are dealing with. They look the properties over carefully before the sale and also typically look at 100 properties for every one they buy. Now and then, for irrational reasons, the market undervalues a property. The most common irrational reason is something cosmetic that is fairly easy to fix. You buy a house at 100K, sink 20K into repairs and holding costs, then sell for 150K and make 30K in a matter of a few months. Buy low, sell high is the name of the game. Casey’s story is an example of everything not to do while flipping–no pot of hard-earned cash, no understand of the market or the merchandise, overpaying at the top of the market and hence losing money on every sale.
Flipping is an unglamourous business, just like any merchant activity. A good merchant, one who really knows his merchandise and the market, can make lots of money fast. An incompetent merchant, like Casey, can lose money fast.
February 1st, 2007 at 7:23 pm
Transitioned from your #9 comment
You are referring to write off in stocks when you take a loss. Real Estate losses are looked at differently and a lot can be written off when you take losses.
February 1st, 2007 at 8:16 pm
I’ve seen a few others ask this, and I’m really curious….where do you get the money to pay for anything? At all? You mention getting roadside assistance, paying cell phone bills, going out to eat, etc., etc., but you don’t have any positive cashflow whatsoever. Nor do you seem to have any access to, say, credit card funds. How do you even afford regular, basic living expenses? (i.e. food, water, toliet paper…not Jamba Juice, just the basics!) What have I missed? I’m truly intrigued as to how you sustain your day-to-day living at this point. I’m glad things are happening, at least, though I can’t say they’re good things, but none of them are leaving you with extra cash, that’s for sure. So, what’s up?
Baffled and wondering.
February 1st, 2007 at 8:21 pm
Clotpoll said: “Not only does he need insurance…he needs VACANT HOUSE INSURANCE. A home that is unoccupied for 30 days is considered vacant for insurance purposes. If there is only a basic homeowners’ policy in place and anything happens, subsequent claims will be denied.”
Clotball is correct, but Casey lied to say he was moving in and lied onthe loan applications so what’s the big deal about a couple more lies (let’s just hope the kids smoking pot and having sex in Casey’s vacant homes tonight don’t drop the bong and burn one of the places down).
February 1st, 2007 at 8:24 pm
Casey, I think most have you figured out long ago. Some people congratulate you for taking such a change at big money..a motivated and determined guy you were.
But when s*** hits the fan or when you can no longer “borrow” money you have a hard time even keeping your sh@t office clean or even opening you bills to see what problem you have! Cmon, last year you were a determined guy, this year you have no heart. You pretty much validate my thought to watch out for people who have to much energy to think big at first but don’t follow through.
The fact is you are in a lucky situation up to now. Lucky that credit was pretty easy to get during the last few years. Lucky that crappy housing has gone from $45K to $280 in the same years. And finally lucky that your not in jail AT THIS TIME for committing mortgage fraud!
You’re not some financial genius who happened on bad times. You’re just a dumb schmuck who actually believed you could make a lot of money off real estate without the intention of ever paying for the mortgage.
You gambled and you lost big time. No pat on the back from me….maybe from those who wish to do the same as you, or are in your same situation and still wish to get something from nothing!
Your trying to be humble now with your blog, but the truth of it all is if you actually pulled this off, you would still try to throw your success in our faces as if you had something brilliant to offer.
Give to Caesar’s what is Caesars, give to Bubba when he wants to tap your azz in jail!
February 1st, 2007 at 8:30 pm
@ 26. Sac Realtor
Two thumbs up, and five Jamba Juices!
February 1st, 2007 at 8:31 pm
Isn’t Duh-wain supposed to be some sort of President or CEO of a company?
How many readers here work for legitimate corporations? Does your CEO spend an hour a so a day posting on a blog and supporting a looser like Casey?
February 1st, 2007 at 8:33 pm
Casey, I think you jumped the shark. I used to come to this website multiple times a day to read the comments but lately its been pretty boring (except the part where you got into that fight with the tramps).
February 1st, 2007 at 8:36 pm
You’re boring me…back to the painfully-slow moderaton…you’re losing visitors…are you tired from opening your mail?…your story is not compelling anymore…is anyone else out there getting as bored as I am?…all your properties are going to foreclosure…then all you’ll have to talk about is credit card outfits coming after you…that’s so ghetto; who’s gonna come here for that?
Your visitors can’t converse with each other…that really sucks…all about you…all Casey, all the time…narcissist/sociopath…bipolar/ADD…such an addict, you’ll throw Duane under the truck for any scam that crosses your desk…hey, maybe that could fuel your blog for another 6 weeks…
BTW, NoLimitsSkanks are back up & running. Except (ha-ha), NO COMMENTS ALLOWED! Atta way, gang! Take those ho’s down.
Tick tock.
February 1st, 2007 at 8:46 pm
Anyone called any of Caseys Mortgage companies to report to them that the houses are vacant and not insured?
Please also mentioned that instead of paying for insurance, Casey prefers to put the money on Jamba juice.
February 1st, 2007 at 8:46 pm
@Aaron…
You have your real estate terms mixed up….flipping is referred to as putting a contract and “flipping” or assigning it to another buyer for a fee. What your talking about is rehabbing, which is buying a property to fix up and resell… If you want to hear from people who do this for a living visit
www.reiclub.com
www.creonline.com
These are the motherboards for Real Estate Investors….
February 1st, 2007 at 8:57 pm
@ 14. Horatio, as in “ALGER”
What the problem with having renters. If they have a lease terms past the foreclosure sale date then the new owner or the bank would have to honor it or pay them to vacate.
Wrong. If the lease is created after the Deed of Trust, it gets wiped out when the Deed of Trust gets foreclosed. The only thing the renters get is a 30 day notice. If they don’t move, they get an unlawful detainer action filed on them, followed shortly thereafter by a judgment against them and a sheriff’s lockout. Oh, and they get an eviction on their record making it very difficult for them to rent another place from anyone that does a credit check.
Casey, what about the 2nd on Muncy. Your spreadsheet says you owe them $64,600. I’m guessing that’s only the principal and the the real amount you owe them is closer to $85K with back interest and late fees. I know they can tell you to stuff the short sale where the sun don’t shine if they feel like it. What’s the incentive for them to sign off on it. Heck, are you going to have to sign another note to Countrywide to get them to appove another short sale?
Speaking of your spreadsheet, I see G’s maxed out her shiny new $300 credit card from HSB. And, was her Macy’s card on they spreadsheet before? If not, is that a new one, and why the heck are the two of you shopping at department stores right now anyway?
February 1st, 2007 at 9:02 pm
The next donald trump right here…I bet any of you! real talk
February 1st, 2007 at 10:44 pm
I was on the phone with Fidelity Investments. The representative thinks now is “a great time to buy” a house. What do you think Casey? Are we in a “soft landing”?
Or is this just temporary.
February 1st, 2007 at 11:04 pm
Casey is not the only person that talks about his real estate team.
I’ve heard this retoric from several different real estate band wagon jumper people over the past few years. What does it mean exactly? Networking contacts?
February 1st, 2007 at 11:21 pm
Wow Duane, are you sure you aren’t Casey’s alter ego? I’ve never seen someone so defensive…you do realize you ar enot helping Casey. Those who’ve been though the twelve steps would call you an “enabler”.
February 2nd, 2007 at 3:25 am
“The agent tells me that she’s receiving low ball offers but is not presenting them because the bank was VERY firm about not wanting to go any lower on the short sale. ”
Better start looking for another agent now. This one will be losing (or loosing if you prefer) their license as soon as the DRE sees this post and connects the dots.
February 2nd, 2007 at 4:54 am
@Mycroft: The second lien holder normally will get nothing if the house goes to the trustee sale (foreclosure auction) because the houses are bought at 80% of value now-days or lower, add to that the fact that the market has come down too 10-20% since I bought the houses.
So on a short sale we offer the second lender as much as the first will allow. Normally the first has rules about how much they will let the second get which is typically 10%. So if the second loan is 60K they will get 6K.
They will cooperate because 6K is better then 0.
February 2nd, 2007 at 4:57 am
This is message is for Yneone:
The ‘CaseySphere’ is dying to know more about what you know! All the details! Please share with the rest of the Caseyverse we are dying to know all. FYI: NLL site is back up minus incriminating evidence (FBI please use google cache)
Top 4 CaseySphere Sites:
http://exurbannation.blogspot.com/ (top site! #11 RE Blog!)
http://Iamnotfacingforeclosure.com
http://caseyworldusa.blogspot.com
http://whofailedtoday.com (currently down, back up soon)
…. and others?
Thanks for improving moderation Casey.
February 2nd, 2007 at 5:54 am
Sorry Casey… we cannot package it in a loving way since love is just not the way to go. See Casey, the bloggers are just prepping you up for the love you’ll get while you are in jail.
But I do admire your drive and ability to stay positive given the situation you are in right now. For most people to handle that they’d have to be on drugs to stay positive like you.
Good stuff.. keep up the good work.
February 2nd, 2007 at 6:16 am
“Try doing the same. See if you can go through the whole day without saying ANYTHING critical. Only positive or constructive words are to come out of your mouth.”
Sigh.
February 2nd, 2007 at 6:36 am
Dude!
Like I’ve said ad nauseum, do something sensible and you won’t get nearly as much criticism!
Try it! Try a whole day of only doing sensible things! See if you can go the whole day without doing something idiotic.
I promise you your life will change.
As for days of withholding criticism, I see two ways that could play out:
1) Let’s take a break from being angry and just solve our problems and live our lives without bitching about them.
2) Let’s live in denial and avoid dealing with our problems for a day. Because some guru told us not to, we can’t actually address anything that’s wrong and we get to be resentful all day.
Guess which of the two I think you’re employing?
…not that there’s anything wrong with that.
February 2nd, 2007 at 7:18 am
capital losses can offset capital gains. any loss left over is limited to $ 3,000 and may be carried over to future years.
any future capital gains may be offset by those losses carried over.
just to clarify.
February 2nd, 2007 at 7:43 am
Let’s see:
Didn’t work out with Duane.
Didn’t work out with Chris.
Didn’t work out with Rich Dad.
Lost money on every deal (oh except the one where you got cash back at closing, by taking on extra debt - sadly you considered that to be a success).
Spent gobs of borrowed money on courses which led you to this mess - and STILL consider them to have had educational value…..sad.
You sign contracts first, then read them.
Dude - get a clue. You are not cut out for this. You’re easy prey for all the sharks out there.
Maybe try it again when you’re older, and hopefully wiser.
If financial ruin is your goal, you’re a smashing success - but that seems to be about it.
February 2nd, 2007 at 7:47 am
#52. Michael Cooke
>Casey is not the only person that talks about his real estate team.
>What does it mean exactly? Networking contacts?
Yes, a “team” in their sense is network contacts. Lawyers, realtors, accountants, contractors are part of “your team”. If you ever read any of Robert Kioyosaki’s books, he mentioned it is very important to build a team. Throwing 2 cents regarding all Rich Dad’s books, they all lack details. I agree about “building a team”, but he NEVER EVER give the specific. How do you find a lawyer? where do you find one? what questions do you ask a lawyer so you know he/she is the right one? Same apply for finding other members of your team.
February 2nd, 2007 at 7:49 am
If you DO need to criticize make sure you “package it” in a constructive and loving way.
OK, how’s this?
Casey, I can’t even begin to describe the sheer joy I felt when I discovered your site and the daily pleasure it has given me ever since.
Your talent for making almost any dire financial situation seem OK by comparison is truly unsurpassed, and I can honestly say that “what would Casey do?” is now the first question I ask myself whenever faced with a thorny problem.
And then I do the exact opp…. whoops, sorry about that, just slipped out. Won’t happen again.
February 2nd, 2007 at 8:01 am
19. ALooserWithAJob February 1st, 2007 at 1:41 pm
February 2nd, 2007 at 8:05 am
Casey (#57) - How in the world do you know whether there is a chance of an offer being approved by the bank unless you present it? If I was a Bank & found out that an Agent & someone like you was withholding offers from me I would be pissed. You shouldn’t make assumptions. Banks don;t like to foreclose & they may indeed accept an offer you decided they wouldn’t.
February 2nd, 2007 at 11:36 am
Casey,
How do you plan to pay the IRS next year when the banks send you 1099s for the difference in what you owe and what they get on a short sale?
February 2nd, 2007 at 11:43 am
As for the Casey Serin movie, there’s no story here. All the good deranged looser films like Taxi Driver and Assassination of President Nixon end with horrific bloody violence.
Casey, PLEASE do not watch these movies.
February 2nd, 2007 at 12:39 pm
Jamba Juice is for looooooosers!
February 2nd, 2007 at 1:51 pm
Your requesting of people not being critical is pretty tough. You ask for advice and then whine when people give you the unvarnished version of it. Dressing up advice so it reads ‘nice’ is like dressing a monkey in a dress. Its still a monkey no matter how you look at it.
What is happening is this: People take what you say here quite literally. If they detect an inconsistency in what you have said they will call you on it and then ask why you were inconsistent. If you are getting annoyed at people calling you on your inconsistencies then you need to properly present the facts so don’t get hung up in the inconsistencies.
Yup, spitting it out there is criticial and confrontational. You are going to have to accept the fact that people are often direct when they want to make a point: “Look, you’re being dumb!” being an oft repeated comment here. You have three choices in regards to this:
1. You can delete their posts/stop reporting on things that make people say “You’re doing something dumb”
2. You can whine they are being critical.
3. You can stop doing what ever is causing these people to say “You are being dumb”. I think I have some agreement in saying that people would like you to stop doing the dumb things so they have no reason to say “You are doing a dumb thing”
February 2nd, 2007 at 2:33 pm
The Long Journey
Great things are required of those striving to reach
Over the great obstacles that life presents;
Trouble, sadness and sorrow may be in my path, but I
Overcome adversity through the Strength above.
Just when I think I am most alone, I surrender
All to the higher power; the one who has gone before.
In offering oblations above, I receive great blessings below.
Love surrounds me; I cannot fail.
good luck, my friend…
February 2nd, 2007 at 4:03 pm
Don’t criticize. ???
You need spanking ~~~
We can not give u positive comments if you still in this stupid denial world.
WE WANT YOU TO BE GOOD IN SOCIETY.
February 3rd, 2007 at 4:45 pm
Duane LeGate wrote:
@ Julie, post #2.
You own a website called Home-Flip, and you dont know how to do a short sale?
Sign me up baby.
_______________________________________
Wow! That was kind of rude Duane!
No, actually I don’t know how to do a short sale, I have never been in that situation. I’m guessing that you have?
My husband and I run a successful construction company in FL. and we work with investors who fix and flip homes in the area. We make sure that the home they are buying is worth purchasing.
I was asking Casey because he can write an article that uses real life examples where as if I were to write it I couldn’t. It would also give him a chance to make some money. Unlike you, I am not a hater. I actually hope that Casey walks away with money in his pocket.
February 4th, 2007 at 1:51 am
I’ll give you $50,000 cash for any one of the properties.
Give me a call when you finally give up.