April 13th, 2007   8:40 pm

ABC News Nightline Foreclosure Story and Videos

AFter being rescheduled a couple of times, my story will air on ABC News Nightline tonight at 11:35PM.

Here is the article: Real Estate Leaves One Investor High and Dry

The videos above should give new people the background on my foreclosure story. First one is my talk with Robert Kiyosaki the author of best selling Rich Dad, Poor Dad series of books. This book is what inspired me to take the journey towards financial independence:

This one is my talk at a University of California at a real estate finance class:

Also feel free to browse the archives for past posts. There is a lot of good stuff there.

Are YOU facing foreclosure yourself? Do you have ideas for this blog? Are you a real estate professional or investor? Interested in partnership?

For all inquires feel free to contact me confidentially. Also, be sure to join my mailing list to hear about major developments.

As always feel free to participate in the comments with your feedback or constructive criticism.

107 Comments

  • 1. Older & Smarter Than You
    April 13th, 2007 at 8:51 pm

    Kudos to you for getting some press for your really stupid mistake in business. I hope you get out of the hole you dug yourself but understand that you were really stupid about your decisions. If you can live with that, then fine.

    Milk the media but be careful about making yourself look more than the idiot you are. A wise person once told me “Make mistakes every day.”

    But watch your ego. If it gets too large you’ll end up like that pathetic little man, Joe Francis of the Girls Gone Wild porn.

  • i saw the frige pics on flkr and saw your segment on abc’s nightline.

    dude, drop the SILK soy s*** . that s*** making you more feminine by the minute. too much estrogen!! u need to man up and eat the good ol beef and s*** lest we all call you a ‘mo

  • Casey, I saw your story on NightLine-4/13/07
    I just want to say that I was very glad to hear you say that you have’nt given up on pursuing your goals in real estate. You will make it, I wish you the best!

  • Hi saw your story on nightline,i was amazed how you tried,and all the courses you have purchased.i am just starting into investing,i am sending you a web address please contact hin his name is tim,and he can really mentor you.the web address is hotbargainproperties.com
    1-877-my-creia.please tell him your story.,and he can mentor you.i admire your determination,you can still make it.

  • Casey,

    I just watched your saw your story on ABC NightLine. All I can say is I feel your pain bro. It will definitely be a learning process for you. I can’t say as I wouldn’t have done things differently if I were in your shoes. I know about some of the courses you went through and most of them are to make themselves more wealthy by selling the books, cd’s and dvd’s even though they do tell you how to do exactly what you just did. What they don’t tell you are the pitfalls and dangers of this scary game if you don’t have mega bucks in reserves. So all you can see is the greenbacks $$$. They also give you bad advice to do illegal side transactions in order to get big money back at closing. Sideline agreements outside of closing for seller concessions are totally illegal.

    I just want you to know I wish the best to you and hope everything all works out okay. I strongly suggest following Dave Ramsey’s principles. He is a huge financial advisor and did exactly the same thing you did at about the same age. I don’t know if anyone has mentioned his Financial Peace University course, but it is fantastic! I don’t agree with everything he says, but for the most part he is right on.

    Best Regards,
    Corey

  • Hey man, I just saw part of your segment on ABC Niteline and decided to check you out and after looking around your site, man, you are still young and need to keep doing what you do. I agree with about 97% of the top 2 posts, but I feel that if you want to do your book, and can get paid to do it, then by all means do it. Your story is a much needed reality to all of the millions of people who attend these seminars and are spoonfed how how EASY real estate investing is and are wrongfully duped into paying thousands of dollars for partial information. I myself aim to help anyone I can when I hear they are getting into investing because I jumped into it 3 years ago, and with a few ups and more downs, I had to realize the part about real estate that the seminars don’t tell you. So when writing your book, consider the people who simply need to avoid the downfalls you took, and not write a book for people to go through the downfalls and get back out. You can tell them how to get out when you get out, but there are people still falling victim to real estate investing who could use as many tips on what not to do, or what to avoid to keep from reaching where you are.

    As I stated you are not alone in what you are going through. I’m not in as deep as you are, but I am 26 and in Texas, and have made some of the similar mistakes that you have. Being that you have some biblical scripture in one of your posts, I will tell you to be strong in the Lord and do all things unto him. Help others, as principles that he has set for us states. If you have already been foreclosed on, and you are falling behind on other things, I would never ever file for bankruptcy. Check out this article and you may or may not agree, but it’s completely accurate from what I have found. http://www.nustarthomes.com/neverbankrupcy.htm The thing is, you are already facing your penalty for not paying your debts. You credit is already ruined. Regardless of what you ever pay, there will always be several foreclosures on your record. The fact of the matter is, to be successful in today’s world, you need money or credit. Credit will be a really tough thing for you, so I wouldn’t throw away money that you need. You should pursue what’s best for you and your situation and not worry about these people who are living with the crabs in the barrel mentality. As long as you are abiding within the paramaters of the law, and with the will of God, everything will work out for you. Be strong and faithful in prayer and Stay Blessed.

  • OMG! OMG! OMG!

    You could see the blue ball in one of the shots! They shot from above and you could see him sitting on the ball!

    It’s a huge opportunity for blue ball vendors everywhere!

    -btc

  • You could of made it big, the timing was off. don’t give up.

    -asianTom.com

  • 9. SFBubbleBuyer
    April 14th, 2007 at 12:12 am

    Also, the more you talk, the worse you sound. Buying a house for 360, with 30k cash back, then selling it for 360 3 months later is not making 30k.

    360 at IO at 6% is still 1800 a month, with three months = 5400 bucks.

    A 6% commission on a 360k house is 21,600. That makes 27,000 in expenses. That means you made 3k. It took you 3 months, which means you were making 12k a year flipping at that point.

    And that assumes you didn’t spend a dime fixing the place up.

    The fact that you can walk in front of a class and try to pretend like you had a successful first deal when it’s painfully obvious to anybody who can add 2 and 2 to get 4 is laughable.

    You were a dancing monkey in that class, Casey. He brought you there as a cautionary tale. Not as a “Look at what can happen to a smart investor” tale, but as a “Look at what happens if you have no idea what you’re doing and act like a fool to boot!” tale.

    You’re addicted now to the notoriety. It’s not going to help you. You’re screwed. Flee the country before they get around to prosecuting you and slapping you in jail. Because they will. Why? Because the whole house of cards is falling, and a******* like you are one of the major culprits. And you are going to be to mortgage fraud what Martha S****** was to insider trading. The high profile case that will make the proles feel safe.

    Run, Casey, run! Because stupid is as stupid does… and you does stupid, mister.

  • Hi Casey,

    Not for one second should you listen to “Older and Smarter than You”. Also, please don’t label yourself a “would be” real estate mogul. I believe you have more courage and insight into “the bigger picture” than most people (older doesn’t necessarily make you smarter) acquire in a lifetime. Keep your chin up, your integrity intact, stay positive and I feel certain your hard work will pay off soon. Remember to pay-it-forward if the universe helps you out here, and I’m certain it will! :) Cheers! Jeri

  • Hi Casey,

    I saw your story on Nightline. I am proud of you being a young man and taken risk tell real-estate newbie to bite you, and all of these other people who spend their precious time criticizing you that its really a poor reflection on them. You took a risk, you saw an opportunity and went for it. Lots of people go through life never having done that. I know you will make it. Don’t give up get smarter, wiser and richer and let this however-many-dollars in debt lesson bring you 20 fold however-many-dollars richer. You know Donald Trump had setbacks and bounced back. GO FOR IT CASEY WE YOUNG FOLK GOTTA STICK TOGETHER. WE ARE ROOTING FOR YOU DUDE

  • casey,

    you speak in the very recognizable language of self help gurus… maybe you can be an example of how all the over-inflated promises of “the secret” and powers of “intention” and other such things can end badly? we always hear from the gurus the examples of spectacular success, be they real or made up. maybe you can be the valuable cautionary tale. in any case, please make a bibliography of all your texts of inspiration and then people can make up what conclusions they may. personally, i think the best commentary on self-help books/gurus comes from The Princess Bride, “life is pain. those who tell you different are trying to sell you something.” books… cds… dvds… seminars…. :) anyhoo casey, good luck and i really hope you get things sorted out.

  • 13. Lollercircles
    April 14th, 2007 at 12:22 am

    Why aren’t you in jail yet?

    Stealing 2.2 million dollars (which you did) is not the same as speeding on the freeway.

    The anti spam words aren’t cute or funny either.

    One day young man people are going to see you for the sociopath that you are.

    ASW: credit. Should be Grifter.

  • 14. Lollercircles
    April 14th, 2007 at 12:25 am

    Also, it’s tax day on tuesday. I was worried that you might forget (I know you have a problem with follow through and details) so I took the liberty of telling the IRS about your loan forgiveness income.

    You can thank me later.

  • oh, and this seemed particularly apt and is sure to bring a smile to those who need it!

    http://despair.com/viewall.html

    enjoy!

  • Casey, have you noticed that on that Nightline interview, every time you tell a lie you involuntarily close your eyes?

    Poker players call this a “tell”. So do business people.

    And I suspect this is why you’re such a gift to scam artists: they pick up on all your tells too, and set about happily fleecing you for everything you’ve got.

    Casey, I know how difficult it is to admit that you’re just not cut out (temperamentally, psychologically, educationally) for the dream you’ve been setting yourself, but you really really aren’t. How can you possibly succeed as an entrepreneur when you yourself confess that you’re not a details guy?

    Give it up and get a job, mate. Sweet deals aren’t just going to fall into your lap, and you’ve shown no evidence that you can even recognize one, much less capitalize on it to its best advantage. Your recent book idea was typical - a hopelessly impractical idea that won’t net more than a fraction of the income you’re hoping for, and even that will come through much much later than you clearly expect.

    On the other hand, a proper job will give you a contractually guaranteed minimum income that might actually help you plan how you’re going to climb out of your hole. And it will also show genuine willingness to help to put things right, which will help if a judge ever has to pronounce on your case (and I have to say that this is looking increasingly likely).

  • Hey Casey,
    A wise man said, “he who ignores the details
    Might one day find that someone else
    May take on the job instead.
    And believe me, this is not what you want.
    Realism is essential.

    I know you’ll ignore this advice like everything else.
    Nothing that involves hard work seems to get through.
    Very short-sighted, but there you go.
    Especially when you’re in the situation that you’re in.
    So go right back to basics.
    Take stock of every single variable.
    Make a list of things to do.
    Emphasize the things that are truly urgent.
    No more messing about with irrelevant side issues.
    That way, you can stay focussed and maybe…
    Save yourself.

  • 18. Bubba Smith
    April 14th, 2007 at 1:43 am

    Why didn’t ABC news say *anything* about your incredibly shady “cash back from the seller” transactions? Didn’t you tell ABC about them?

    I was only able to read the news story online but I sure hope you weren’t portrayed as a victim of the Housing Bubble on TV.

  • 19. This needs translating into non Casey-Speak
    April 14th, 2007 at 2:16 am

    “Are YOU facing foreclosure yourself?”
    If you are, you should go someplace else for advice (like a good attorney in your area)…Casey has not successfully stopped a foreclosure. But if you want Casey to scam you and waste your time, then stick around.

    “Do you have ideas for this blog?”
    If you do, you shouldn’t bother posting them here, you should post them on your own blog…then point them out to people at other sites (Google exurban nation)

    Are you a real estate professional or investor?
    If you are, you should go someplace else for advice or contact making (like a good real estate agent in your area)…Casey is so incredibly in debt and amateurish that he is not worth your interest. But if you want Casey to scam you and waste your time and money, then stick around.

    Interested in partnership?
    It will be you do 100% of the work and Casey sponges up 100% (or more) of the assets.

    asw = organic (any dealings here are unnatural which is a synonym for ‘NOT organic’)

  • 20. ghostriders_on_the_storm
    April 14th, 2007 at 3:35 am

    There has been some recent discussion about authorship on the blog - it looks like team work is paying off for somebody. Always more research to be done, it seems - a good neverending story is like that, though keeping peoples’ attention is never as easy as it seems - especially with true naive talent as was previously a hallmark of Mr. Serin’s epic adventures.

    And look right here - my anti-spam word is ‘investor’ - how truly coincidental to the point of this post.

    ghostriders_on_the_storm

  • 21. The Guy Next Door
    April 14th, 2007 at 4:22 am

    Dude,

    I don’t know about this book thing. You just don’t strike me as someone who knows very much. Sorry. I’m sure that stings a little.

    Every one of the fifty states has unique aspects of homebuying, selling and loss. You don’t know what they are. There are good times to buy, and bad. You don’t know the difference. There are good locations and bad. Good courses and bad. Improvements worth making, and others that aren’t. Ways to get out of trouble once you’re in it. You’ve demonstrated no skill in anything.

    I could go on and on… but, frankly, I just don’t see you writing a useful technical guide about any aspect of home ownership.

    So perhaps you will write a book about your many adventures… but your ’story’ has already been told, here online. Why would anyone buy the cow when they can get the milk for free?

    Moreover, though your blog is good internet entertainment, the best thing about it is seeing your seemingly endless mental lapses and reading the responses from your readers - most of whom disagree with your moves. I don’t think they’ll be buying your book or telling others to. Do you? And even if they do, they number what? A few thousand people? They’re NOT going to put you or your publisher on the New York Times bestseller list.

    And a book that didn’t include them would be, well, your ’story’ - a pretty dry read in and of itself.

    I won’t blow off the idea of you becoming an author completely. I *do* think you could write an interesting cookbook. Or maybe something having to do with sleep apnea. Tell you what: If you write either of those and get them published, Casey, let me know and I’ll buy a copy.

  • **ATTENTION** **ATTENTION**

    Casey has been scammed again, this time by a vanity publisher that you pay to publish a book.

    It’s not a real publisher. It’s a VANITY PRESS THAT IS A SCAM.

  • how much are you being paid to be part of a pump & dump stock scam??

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  • man, stop asking people for ideas all the time - do some thinking yourself for a change. really.

  • casey,

    you need media training. when you are put on the spot and have to answer “somewhat less than truthfully” you close your eyes for extended periods of time.

  • Casey,

    Usually I am in the “hater” category but I just want to thank you for one thing. Because of your story way back in September in USA Today I realized I didn’t know anything about the housing market and have spent alot of time finding out information because of that one article and the posts from many of your “haters” here at your blog.

    As a result I feel much more informed as we forge into the waters of purchasing a home of our own and have even decided to start a blog of my own about our adventures into the world of home ownership.

    So as to your question as to whether or not I have been helped, the answer is yes and no. By you, very little, by your “haters” very much. Too bad you discount so much of what they have to say. I would have been lost without their advice.

    kerriella

  • Well, you’ve finally addressed the missing Utah payment. Nice to see you’ve basically decided to let your buyer twist in the breeze on that one. Just too many “details” involved in getting to a fair resolution…certainly too much to do for someone of your newfound media importance. Hair-waxing and murse-shopping DO require a certain amount of time…

    Now that you’re answering the tough questions, how about the compulsive gambling issue? C’mon…why don’t you open up?

  • 29. dc economist
    April 14th, 2007 at 6:55 am

    Umm.

    Casey, you got good advice and constructive criticism for monhts and you didnt listen. You didnt listen to Suze Orman 3 months ago.

    What do you want? A free pass to riches

    Get a job, or turn yourself into state’s evidence. Only a matter of time now,

  • 30. Arthur Wankspittle
    April 14th, 2007 at 7:14 am

    Just answer one thing today will you? What is your definition of success?

  • You are young. You took a chance and went out big. You made money on your first deal - $30,000. You attended seminars and went out there and did it.You failed because the environment changed. You are facing foreclosure. You have started a GREAT media idea and have appeared on National TV (Suze Orman). You have learned a lot. Some people hate you.

    But let me ask this questions - how many other people out there who are sitting in their living room watching TV and are smug about themselves and have NEVER risked anything to do a business or an investment.

    Has the real estate environment continued for another 3 years, you would have made a profit of probably $400,000 on the $2.2 mn you borrowed. NOW, that is a lot better than all the haters out there who have never risked anything and will never make a return like that in their lives.

    You are on your way to become a successful invetsor and entreprenuer.

    I know.I haven’t screwed up as badly as you did - BUT I took huge risks that if I had failed I would have lost all my money. I was lucky. I won. And, I have a net worth today in the 7 figure environment. THank the Lord!

    I salute you for what you are doing and hope you will be more successful in the future. BUT watch risk management…..

    Best of luck.

  • 32. YoureAnIdiot Casey
    April 14th, 2007 at 7:40 am

    The reason you are seeking foreclosure is you of panic! You couldn’t pay the bill, so you took out more credit!

    You said yourself in the video that you needed to “float” your expenses..so you took out more loans, but this time lying on the apps to get better rates and cashback, because that’s the only way you could get the loans. And amazingly you were stating income when you infact quit your job months before!! And you knew you would never live in the properties because you said you bought two properties SITE UNSEEN!!

    At that point. why did you not get a job, or quickly find renters to help make payments? Why continue to spend more money faster than you could borrow? You knew what your money problems were but why did you continue to lie to get more loans?

    I fell sorry that you have a HUGE financial problem, but you are responsible for your situation.

    So know you refuse to attempt to pay back every “DIRTY PENNY” because it’s going to be so hard to do it? Sounds more like laziness and a sense of entitlement rather than a sense of sound financial planning!

    It’s obvious that you will think of another “SCAM” to dig you out of this problem. You need to be in jail for loaning money you never intend to pay back!

    Good Luck, though!

  • 33. Pootie Tang
    April 14th, 2007 at 7:41 am

    Little Casey Serin here isn’t the victim.

    He milked the system for all he could. Now he’s playing the victim’s role. This crook deserves to go to prison. I can’t wait for the day.

  • 34. Voice of Reason in a World Gone Mad
    April 14th, 2007 at 7:47 am

    “”People say maybe you should give up after eight bad deals,” he said. “Well, I’d like to say they weren’t all bad, and I have learned a lot through it. So I’d like to think the next deal I am going to do is going to be successful.”"

    Yep. I’m sure those eight other deals were just a fluke.

    So now you’re admitting you lied on loans on national TV. You must be DYING to get caught.

  • 35. Robert Coté
    April 14th, 2007 at 8:37 am

    Cheer up Casey, G’s morning sickness won’t last long and the sense of new found responsibility will go far in helping you achieving your goals. You said you want financial security by Sept ‘07 right? That should be just about right. Don’t foregt to budget for diapers.

    Oh, and you might want to work on the eyeroll+blink thing you do every time you lie on camera.

  • 36. The Time Is Now
    April 14th, 2007 at 8:55 am

    Casey,

    NOW you see the true lesson of foreclosure and the harm that comes when a property goes back to the lender. I have read that it is typical for a lender to have a loss totaling nearly $50,000 on each house they take back.
    To me this is a staggering problem and the REAL ISSUE of foreclosure.
    A client of mine told me yesterday he had made offers on over 60 homes this year, had purchased two, and had not heard back on his offer in over 50 instances. I guess there are so many homes coming in the front door that none are going out the back. Marketing efforts like this are sure to drive down prices even futher.
    And the TRUE horror story can often be much worse. Think of the guy who has made every payment and not been late one single time … and yet there are two foreclosures on his street and even more within his community. With the bank, lender, FNMA willing to take extreme losses on “their” properties his value is actually decreased and as a result any equity he had in his home is eroded due to the lenders inability to FLIP properties in a timely fashion.
    It could potentially be a huge burden to the tax payer as it was i the early early 1990’s with the RTC.
    Yes you have made many mistakes along the way and I am sure you may continue to make some into the future, the real question do you see that THE TIME IS NOW?
    NOW is the time for you to capitalize on the misfortune and do something constructive to either help others or to extract yourself the rest of the way from your debt load.
    I am a real estate professional and I have seen this before and the cycle will repeat itself as it has done throughout history.
    The question is will you be ready when the bottom hits and the opportunities present themselves? They are about to show up now … hold on this could be an interesting ride.

    Id love to have input into your book or business. You have my email.

  • what happened to joe francis?

  • “He was hooked, eventually spending nearly $35,000 on what he calls his real estate education.”

    “Serin said that he told lenders on his loan applications that he was making more than his actual salary of $50,000 a year from his computer job.”

    “Serin admitted he lied about his income on his applications.”

    Nice, ABC mocks your real estate “education”, and then explains that you lied on your loan applications.

    That’s exactly the kind of coverage that will get you taken seriously as an expert. Nice work.

    You still haven’t answered the compulsive gambler questionnaire.

    http://www.gamblersanonymous.org/20questions.html

  • There are a lot of people who comment here whom I respect and admire. Casey isn’t one of them. For example the guy who works full time and is a returning student, plus has his own successful internet ventures on the side – he commented last week. Very admirable. There are lots of hard working and smart people trying to give you advice. It is true that there is a wealth of knowledge here to help people, but most of it comes from the commentators, and none of it from you.

  • 40. Gone to jail yet?
    April 14th, 2007 at 10:26 am

    It’s funny that they only mentioned the stated income loans as the only lie that you told. Did they forget to mention that you purchased most of these home as owner occupied properties? How many of them did you live in?

  • Casey, when is the next monkeydance scheduled for? I don’t want to miss it. For the last couple of weeks you’ve been stepping it up a notch (BAM!) on the weekends. This weekend has been boring.

    Keep us updated on the Utah balloon that popped two months ago.

  • Ah, it reminds me of my younger days those long six months ago to see new arrivals to the site that aren’t yet filled with resigned loathing. To believe once more that Casey was honestly trying to pay back what he borrowed, that he wasn’t a callous sociopath… those days of heady naivete are lost to me forever. But seeing these fresh new faces fills me with hope that soon they’ll be as bitter and disillusioned as the rest of us.
    Ah, to be young again…

  • 43. dc economist
    April 14th, 2007 at 11:58 am

    To you new folks, Casey Serin is not what he was portrayed. Nightline did actually laugh at him. He is likely being investigated.

    There will be no comeback story unless Casey listens to what some of us had said.

  • Wow - I never realized that Kiyosaki was such a crook and a****** . If you don’t subscribe to some get-rich-quick scheme and use common-sense to avoid going millions of dollars into debt, you are a loser?!

    Kiyosaki made some money due to real-estate timing, and he now believes he is some kind of genius??! He needs to acknowledge that timing is everything….if you buy an asset (stock, real-esate, whatever) at the peak of a massive bubble, you will lose money - then you are truly a LOSER!!!!

  • 45. Dread Pirate
    April 14th, 2007 at 12:26 pm

    asw = semivegan. Nice!

    Good one Casey. You managed to attract a new bunch of kool-aid drinkers to convince you that you’re awesome. “At least you tried!” I wonder if you jumped off a building would they congratulate you for trying to fly?

  • 46. Reality Central
    April 14th, 2007 at 1:26 pm

    Think of the guy who has made every payment and not been late one single time … and yet there are two foreclosures on his street and even more within his community. With the bank, lender, FNMA willing to take extreme losses on “their” properties his value is actually decreased and as a result any equity he had in his home is eroded due to the lenders inability to FLIP properties in a timely fashion.

    There seems to be an economic misunderstanding here. Making payments and never being late is great, but it has absolutely NOTHING to do with the value of a house.

    Meet Mr. Invisible Hand. He sets market pricing — and Mr. Hand has no idea who’s been making payments, who’s been late, what anyone’s LTV is, or whether a house is REO.

  • Casey, I just watched the video with you and RK here.

    What do you mean when you say you had 30k CC debt, 15k of which you weren’t sure what from?

    What does accountability mean to you, and when does it start for you?

  • How does it feel to be the world’s most famous failure? You better hope that that fame only last for fifteen minutes.

  • i’m sorry, on a road to what what what?
    i’m sorry to say, but you ought to forget anything you read from the “best selling series” and start reading something useful instead.
    if you took the time to read “intelligent investor” by Graham you would know why most people laugh in your face when you are calling yourself an investor.
    stop with the “get rich quick” scams.
    either get a job or if you really believe you have what it takes (what is it exactly? experience: no, money: no, very thick skin though) then read some quality books and go to quality schools, not “get rich quick” seminars.
    oh, why do i even bother? you obviously are still in denial.

  • 50. SubPrime Nation
    April 14th, 2007 at 4:56 pm

    “…And his blog, which started out as a place for him to share his experiences with others, has now become a possible business opportunity. ..”

    Investing (speculating) in real estate was also
    a “possible business oppourtunity.”

    We know how well you did with that.

    No one is here for advise.

  • Please describe your corporation in detail. In what state did you incorporate? Who is on the board of directors? Are you the sole shareholder? Did you use money loaned to the corporation to pay off the $4500 personal debt you incurred to buy the corporation in the first place? If so, do you intend to personally repay the corporation?

  • “In the industry they call them ‘liar loans’ because the bank basically allows you to state anything you want.”

    That’s not exactly accurate. Banks aren’t the liars here. The banks don’t “allow you to state anything you want,” they allow you to state your income, recognizing some people can’t document it. The fact that applicants like you have taken advantage of that is why they call them liar loans. YOU are the liar. Take some responsibility!

  • That explains it. Didn’t anyone tell you Robert Kiyosaki’s book “Rich Dad Poor Dad” is a work of fiction that he pawned off to a publisher as non-fiction. He’s even admitted that some of the stuff in his book is made up. His book is no different than the book A Million Little Pieces by James Frey which was originally endorsed by Oprah and then kicked off because someone discovered several of the passages were made up. Robert Kiyosaki makes more money from selling books and seminars than he does from what he writes in the books. That in itself should tell you something.

  • casey are you writing all these fake comments or do you have someone helping you?

  • 55. JAMBA JUICE
    April 14th, 2007 at 7:33 pm

    I WOULD BUY THE JAMBA JUICE BUT I WILL NEVER BUY YOUR BOOK, YOUR BOOK WILL NOT HELP ME AT ALL…

    I DO NOT WASTE MONEY LIKE YOU DO.

    NO SWEET~~~

  • 56. dc economist
    April 14th, 2007 at 7:44 pm

    who is aaron lomax?

    why did you sue him in 2003?

  • Sacramento Beginner’s Gambler’s Anonymous
    7:00 PM
    Methodist Hospital of Sacramento
    7500 Hospital Drive-Main Conference Room
    Sacramento, CA
    Open Meeting

  • 58. Kiyo-SUCKA!
    April 14th, 2007 at 8:22 pm

    So Robert Kiyosaki “inspired [you] to take the journey towards financial independence”?

    Well next time you see him, kick him in the balls. He inspired you to financial failure. Inspiration is of little accord without ability, and you sir, have none.

    You got Kiyo-suckered.

    Bad.

  • #58. dc economist….

    Aaron Lomax was a deadbeat tenant whom I started to sue for not paying me rent. This was my first property, a condo in Sacramento that I bought when I was 19. I sold it a year later because the market was hot and I stopped getting rent. It was my mistake for letting him in there. He came straight from an eviction and I didn’t even check his background. So I did the cash-for-keys program instead of trying to evict. However the money I gave him to move out was a loan. Plus he owed me for a month or two rent I think. All together it was about $2400 I think. He signed a promissory note to pay it back within a certain amount of time. He never did. So I started to sue him but then decided to not bother. The $35K I made on the sale of the property covered my loss and I just forgave him and moved on.

  • “Aaron Lomax was a deadbeat tenant whom I started to sue for not paying me rent.”

    So you don’t take our advice but you follow his example?

    Fliptard

  • The spike in traffic last night from ABC News Nightline:

    ABC Nightline Spike April 13th, 2007

  • 62. Reality Central
    April 14th, 2007 at 9:21 pm

    The $35K I made on the sale of the property covered my loss and I just forgave him and moved on.

    Casey, did you send him a 1099? I’m sure he’s not insolvent.

  • My favorite part in the Kiyosaki video…when he asks Casey about the golf course. Of course, Casey must have driven past it dozens of times in the pos Jetta.

    You just don’t get it Casey: you put yourself into hock for $22k and signed away the rights to your story to the 2 bit ladies — just to be mocked by your hero, who only can relate to a world of golf and finer things, which will never include you.

    Perhaps other think that the justice is sweet, but for me, it makes me bitter: these big time crooks are playing golf while Casey’s begs online to keep the wolves from the door.

    I am actually releived that Casey is so beaten down that he almost has nothing left to steal.

  • 64. It's All Good
    April 14th, 2007 at 9:41 pm

    The spike in traffic last night from ABC News Nightline:

    Ummm… OK….

    So did that spike:
    - make you money?
    - help pay a debt?
    - find the Utah payment?
    - help someone else?

    It did nothing except satisfy your attention fetish.

    …and how long will it last? I see a few newbie posts - they’ll learn the truth soon enough.

  • 65. someone who knows better
    April 14th, 2007 at 9:53 pm

    Casey, don’t be fooled by the traffic from your show. Most people that came here just wanted to see for themselves that you were as wishy washy as they saw on tv

    Please don’t cater to them, offering them hope for help from forclosure. All of your regular readers that have been here from the beginning know that you can’t give them any help. You can’t even help yourself.

    And puhleeeeze, asking for partners??

    BWAHAHAHAHAHAHAHA

    Oh, I love your calling Aaron Lomax a “deadbeat”. It takes one to know one, eh?

  • Casey, you are still twiddling your thumbs as your world collapses around you. You are in very serious trouble, and your appearance on a national television show accomplishes nothing except to give the Feds reason to expedite any forthcoming actions.

    I am surprised that an appearance on Nightline didn’t give you much more traffic. It seems that the MSM is no longer as powerful as it once was.

  • Casey,

    Why won’t you discuss your corporation in detail?

  • that kiwosaki dude is one of the biggest crooks ever, I have a some friends who swallowed this sunshine blower’s bs…

    It kind of bums me out that people are out there making a killing out there by misleading and hurting other people…

    Here’s a good review/analysis of his rich dad / poor dad book.

    http://www.johntreed.com/Kiyosaki.html

  • More Traffic! Go Casey!

  • Hi Casey,
    I sent you an email this evening. Please try to search through your inbox for it. The subject line is: “Casey, I’d Like To Talk To You”.

  • Re: Casey’s 61 Post….

    One of your tennants owes you money in back rent so *YOU* give *HIM* money!???? Astounding!

    No wonder you’ve failed at real estate!!!!!

  • 72. sisb (sean)
    April 15th, 2007 at 2:19 am

    Casey, you just might pull off a miracle here.

    I am impressed how you manipulated an obscure situation and turned it into a national news event.

    If you pull off the miracle of all miracles and pay off your debts in full, then I would personally visit you and anoint your feet with oil.

  • “This book is what inspired me to take the journey towards financial independence:”

    If financial independence is what you call the State housing and feeding you, even turning out the lights at night, you’re correct.
    The rest of us call it prison.

  • 74. YoureAnIdiot Casey
    April 15th, 2007 at 6:19 am

    So Casey,

    Are you a deadbeat like Aaron Lomax? You’re actually doing the same thing but on a much larger scale.

  • 75. doosh bauge
    April 15th, 2007 at 7:01 am

    So do you consider yourself a deadbeat borrower? I’m sure aaron ‘intended’ to pay ‘every dirty penny’ of rent and signed that promissory note with as much ‘intention’ of you had when signing your 8 mortgages….right casey? remember, your ‘maker’ is watching.

  • I have followed your story since the beginning. The payoff most of us are looking for is when you are arrested and hauled off to jail. Whenever I am watching TV and flipping channels, I almost never fail to change stations once some network is showing Godfather I or II. The reason those films are so great is that there is so much truth to those characters. We all want to be Don Vito or Michael, but in the end are more like Sonny or even poor Fredo. I think I have found your Godfather scene Casey. It is the end of Godfather I and Michael has wiped out the rival families. After the baptism of Carlo and Connie’s child, Michael orders Carlo to meet with him separately, just business. Carlo thinks he’s ready to accept a new assignment from Michael, instead, Michael tells Carlo he has to answer for Sonny. Casey, you might think you have a book deal, property flips, and foreclosure guru seminars in your future. But you will have to answer for that $500-600k you have stiffed your lenders. That should be your real focus kid. Eventually Michael Corleone (lenders, IRS, FBI) wants to talk to you, and it ain’t about business. Your future entreprenuerial prospects have about the same chance at succeeding as Carlo did on his car trip to the airport.

  • So I did the cash-for-keys program instead of trying to evict.

    Say what? You loaned (”paid”) money to your deadbeat tenant so he would leave? After he didn’t pay rent for several months? Oh, I’m sorry, he signed a promissory note, just like you did for the Countrywide short sale. He didn’t pay and neither did you. Sound familiar?

    Did you even have a rental agreement with this bozo? If it had been a month to month lease, you would have just given him 30 days notice and then called the cops if he didn’t leave. If you didn’t have a rental agreement, then the guy had you — he would have legal rights to stay.

    I bet you didn’t even get a security deposit or first/last month’s rent. But you probably wouldn’t have gotten that because you knew he had been EVICTED.

    You’re hopeless, Casey.

    I’ve been a part time landlord for the last four years on top of my 40 hour a week day job — and it’s a lot of hard work. In this entire time I’ve always managed to keep my room and bath rented (at $550 - $600 a month) and never had anyone stiff me for one penny.

    Before even signing up a roommate, I’d show the place and interview anywhere from 10 to 15 people. And at least a half to a third wouldn’t even both to show up. I’d screen people via phone and email. I’d call and do an employment verification and contact their previous landlord.

    Maybe you thought you were being a good Christian and being compassionate. But there’s a difference between compassion and idiot compassion, which you seem to prone to practice. Plus your decision to rent to this looser was motivated in part by greed. Maybe the guy’s last landlord was jack a** and that was why he didn’t pay. But, this time would be different, ’cause he seemed like a good guy and it’d be all good.

    My current tenant has been with me over a year. And he’s a real sweet heart. Always pays his rent on time. And I have one months’ security deposit in the bank from him.

    Let me tell you my own personal financial success story. In the last 18 months, I managed to increase my base pay 45% at my looser w-2 job from my beginning salary in 2001.
    How? By working my a** off. In two to three years, I will be completely free to unsecured debt.

    Where will you be in two years? In the dustbin of celebrity flash in the pans.

    Keep up the good work.

    asw: blueball

  • 78. SubPrime Nation
    April 15th, 2007 at 8:25 am

    “…The spike in traffic last night from ABC News Nightline:…”

    Notice how it dropped right off again.

    Your 15 minutes of fame is about over.

    Get a life

  • Yeah, but where is the spike in your income?

    Oh yeah, income doesn’t matter. It’s all about being seen…

  • So what does that spike in traffic to the website mean to you as a Businessman Casey? What extra money are you getting for those extra eyeballs? If it’s not turning into money for you, you better get it doing so fast. You can deny as long as you want, but your time is running out. Pretty soon you will be the guy that had five houses foreclosed upon last year and people will be onto the next thingy.

  • 81. The Time Is Now
    April 15th, 2007 at 10:41 am

    @48

    The problem with your theory is it is in a market that is unaffected by outside influences. Look at the short sale Casey had in hand and now the lender offers the property at well below that amount?
    While it is true that borrowers play a very strong role in this market and in foreclosures, the LENDERS (and FNMA) have a responsibility to the public to not drive down prices and artifically deflate pricing which results in harm to the rest of the market place. If you think thats MR INVISIBLE HAND then I would like to introduce you to MR STUPID LENDER and show you that they could obtain much higher prices on REO properties than they do. And if you think for one moment that market participants dont know that a property is an REO then you are not living in the same market or world I am.
    Its an honest assessment of what happens on a daily basis.

  • 56. gumby wrote:
    “Casey are you writing all these fake comments or do you have someone helping you?”

    Tell the truth is there a real timeline guy or are you just writing what you do on a typical day?

  • ASW: credit

    Casey I don’t understand why you complain about the haters yet you seem to be trying to incite them with everything you do. For instance, the anti-spam words. They are all words that your “haters” have continously made comments about.

    Could you please explain why you would actively choose the words that people find the absolute most annoying to FORCE them to type in just to be able to make a comment on your site?

  • Casey,

    I just learned that the property I have under contract is worth $103k by appraisal (instructed not to be “inflated”). That means the bank is taking a loss of $27,000. Ouch! I will fix it up for $3,500 (including tile in kitchen, utility room, and both bathrooms and painting, sheetrock, appliances, powerwash, lightfixtures, etc., thanks to our contacts), put a tenant in there, and sell it below market price to another investor, exactly 1 year from now to avoid short-tem capital gains tax.

    I also decided that I am going to start assigning the contracts that I get. In fact, I recently made another offer for another REO. If it gets accepted and I decide to keep it as a rental, then it will be our 14th unit. If I assign it to another investor, I can make quick cash.

    Perhaps you should come down here to Houston to see how easy it is to make money in real estate - either by assigning/flipping - or by turning it to a rental property. Either way works great.

    I keep on saying it: I just can’t believe you spent $35,000 on real estate “education.” That was completely uncessary. With that money, you could have bought 3-5 houses (10% down, plus rehab, and closing costs) here in Texas each with $20-40k in equity that you could have quickly assigned for $3,000 to $15,000 to another investor, or kept for yourself as a rental and enjoyed the passive income of $150-400 / month.

    Although I love being an anesthesiology resident, I am almost enjoying my “hobby” as a real estate entrepreneur just as much.

    ASW: signhere

  • Here is a cartoon for the ages from Bubble Meter. Kind of shows you that people knew about these schemes for a long time. Reminded me of you, so here it is…

  • 76. sisb (sean)

    Casey, you just might pull off a miracle here.

    I am impressed how you manipulated an obscure situation and turned it into a national news event.

    If you pull off the miracle of all miracles and pay off your debts in full, then I would personally visit you and anoint your feet with oil.

    I’m no king to be anointed with oil, but I may want to hold you to it. Get that oil ready just in case and stay tuned…

  • 87. dc economist
    April 15th, 2007 at 1:00 pm

    That means, you cannot declare bankruptcy, and you must pay back every dirty penny.

    2.2 million?

    come on casey…

  • 88. Mortgage banker
    April 15th, 2007 at 1:58 pm

    Why do you still insist that you made 30k on your first deal is beyond me.On Suze Orman you said the same thing..”ya,I made 30k and was like this is great ya know,Thats a lot of money for a guy my age…blah blah blah….”

    You were required to take over an OVERVALUED DUMP as part of that deal,correct??? You DID NOT MAKE 30k,you probably LOST 50 k or more!!Get that through your thick skull wonder boy.

    I guess you think that if you keep saying it over and over and over agian,it makes it true.You are so delusional it is not even funny,I love how you use your “fuzzy math” to make it look like you have made a dime from all these hairbrain schemes you come up with.

    What new storylines are you going to come up with after that last house is gone?? Better figure out a way to keep the traffic on this blog up quick.Maybe you can “have a book deal” then “kinda have a book deal” and then “oh well I think you misunderstood about my book deal so let me clarify to keep the readers of this fiction tale coming back”

    You SHOULD just go write a fiction novel,you are pretty damn good at it.

  • 89. Reality Central
    April 15th, 2007 at 1:59 pm

    the LENDERS (and FNMA) have a responsibility to the public to not drive down prices and artifically deflate pricing which results in harm to the rest of the market place.

    Everyone seems to rag on buyers (or even “flippers”) for buying houses at prices that are “too high,” but nobody seems to be criticizing them for not stepping up to the plate when prices are “too low.” Hmmm….

  • Casey, may I suggest a way to monetize your blog?

    Also use adengage.

    Try to set up several section of your foreclosure website available for banners and links to be sold.

    Sell the smaller banner area for lower monthly price
    Sell the links area for even lower monthly price or permanent for a high cost

  • I strongly suggest YOU get the oil ready Casey!

  • 92. Voice of Reason in a World Gone Mad
    April 15th, 2007 at 3:55 pm

    “I’m no king to be anointed with oil, but I may want to hold you to it. Get that oil ready just in case and stay tuned…

    I’ll probably be the 10th person to say this but: Casey, you’ll need that oil, but not for your feet.

  • Hi Casey,

    Just wanted to thank you and your kind for completely ruining the housing market, driving prices up in California to such outrageous speculative levels. Now that (hopefully) you and your more successful fellow “investors” are done speculating and making your killing on the market, I’m sitting on the sidelines for the inevitable market crash that will follow.

    Gosh, let me tell you a little about myself.

    I earned a bachelor’s degree in Biology, and volunteered to serve in the military as an officer (Captain). I dutifully served my country in combat over in Iraq, but was discharged after I was injured by a road-side EOD (lost a limb). Therafter, I went back to college to earn a doctorate degree.

    During the past few years, I could tell that housing prices were completely irrational, and were primarily being driven by speculative buyers. At the time, I didn’t realize that we were in the midst of an unprecedented “credit bubble” (loose credit) that was massively inflating a nationwide housing bubble, where loose lending standards allowed ANYONE to get into a house, whether they had any credit, money, or even a job. Made sense, I guess, in an attempt to stave off a recession, per Greenspan and Bush.

    Ironically, one of the “benefits” for serving in the military is a “no-down” VA loan, sort of as a way for our country to say “thank you” to the brave men and women who sacrifice so much in the defense of our Nation. Of course, now I come to find that ANYONE who cared to apply for a home loan, whether they’re buying for owner-occupancy, or for flipping, was able to get into a house anyway.

    You’ll be glad to hear that I haven’t bought a home yet, as there’s actually pricing limits to what the VA will loan for a home purchase. And unfortunately, speculators and flippers such as yourself have driven homes weil outside of a rational amount in MY area (California) outside of MY affordability, despite my having a good income, that it makes no sense to buy anyway until things change dramatically.

    Just wanted to say “excellent job”! Greedy flippers like you make me extremely proud to have served my country in uniform, and defending your right to lie on loan applications, etc. But hey, it’s all good, right? My losing a limb was all good too, huh?

  • 94. Dread Pirate
    April 15th, 2007 at 5:01 pm

    The traffic doesn’t benefit you since you don’t have ads on this blog.

  • Casey -

    You’ve said multiple times you bought the condo when you were 19 - lived in it for about a year, then converted into a rental, later selling it for a $30,000 profit.

    I’ve asked this question time and time again, did you pay capital gains tax on the $30,000 profit from the sale of the condo? If the condo was not your primary residence for 2 of the past 5 years of ownership, you were subject to capital gains tax….

    Please advise

  • Hey #6

    I read your link you posted on why not to file for bankruptcy but it is not complete. Yes in the best case scenario they write it off, sell it and go away eventually. Bank of America does not, CitiBank also, Amex as well and there are others. By Federal Banking Laws after 6 months of non payments they have to write it off. What the above do after that is turn it over to an attorney who will eventually file suit against you. Once they get there judgment (which they will). They will go after your wages and anything else you own by title (car, House). The judgments are then good for at least 20 years and in some states for even longer. So you never escape the judgment even if you move to another state it will follow you.

  • Casey calling someone a deadbeat - LOLOLOLOLOL. That has got to be in the top 5 statements ever on this blog for hilarity.

    Also, I have to call bs on all these positive comments. Some creative writing there, I think.

    asw: jetta

  • I would like to see casey come home to find cashcall and other lenders have forgoed the usual information supoena and went directly into seizing his posessions and his sisters since they think they might all be his. Then out of spite his family sells his clothes, laptop and his real estate books. After they seize the car Casey can finally flip cardboard boxes to either earn food for another day or to not be beaten up. Protection goes a long way on the streets…

  • casey, why were you taking all of RK’s crap? slap him in the face and then ask him “does that make sense?” geez, RK is so freakin annoying. he’s a horrible speaker too!

  • During this time we all read a lot of interesting post. It seemed that in the mist of this foreclosure earthquake doors began to open for Casey Serin. Things such as meeting with Robert Kiyosaki, advice from Real Estate Guru’s, Newspaper Articles and Television Appearances. Casey has even had his website sponsored by someone well known in the real estate industry. One would think with all of these opportunities that Casey would be able to rise out of the ashes like the legendary phoenix, but it just never happened. Some

  • From day 1 when HP broke Casey’s story we’ve predicted massive media exposure (which has come - anyone see Nightline last week? The Economist? The USA Today?). We’ve predicted that Casey would become the face of the housing crash and mortgage fraud (which he has). And we’ve predicted that (after possibly some jail time) Casey would gain fame and fortune from this

  • During this time we all read a lot of interesting post. It seemed that in the mist of this foreclosure earthquake doors began to open for Casey Serin. Things such as meeting with Robert Kiyosaki, advice from Real Estate Guru’s, Newspaper Articles and Television Appearances. Casey has even had his website sponsored by someone well known in the real estate industry. One would think with all of these opportunities that Casey would be able to rise out of the ashes like the legendary phoenix, but it just never happened. Some