November 15th, 2006   12:41 pm

Flipping Houses in a Down Market?

I came across a funny online show about two guys trying to flip houses in a declining real estate market: FlipperNation.com. If you are a fan of the other house flipping shows on TV, you will like this. These guys just started and I’m not sure how much of it is based on a true story. Maybe I can learn a thing or two.

Headlines show that the real estate market has hit its peak and it’s only a matter of time before the bubble bursts. The market seems to be saturated with wannabe real estate tycoons.

Let’s hope they have room for two more: Richie Tatum and David Kimball. They are way too late in the game and lacking any formal education, but that’s not stopping them from jumping in head-first.

This unique online show follows their attempts to overcome not only the challenges of the real estate industry, but also each other, facing adversity at every turn with one goal in sight:
To get filthy flippin’ rich, one flip at a time.

Here is the FlipperNation first episode:

49 Comments

  • Here’s the difference between them and you:

    1)They know what they are doing
    2)They are realistic
    3)They don’t lie on applications
    4)They probably don’t have any properties facing foreclosure

    GIVE YOU REAL ESTATE DREAMS UP!

  • Casey,

    You need to buy more and flip more. Set a goal of say 10 homes a month to buy and flip and stick to that goal.

    You need to get back on track Casey and buy more.

    Why aren’t you buying Casey?

  • Casey,

    If you had your time back, what would you do differently?

    Joe
    http://www.StingyFinance.com

  • funnier than F*CK

  • Alright no one can be this willfully dense. Any dimwit can see this is satire.

    Sadly, even still you can probably improve your woeful knowledge base by watching their video spoofs.

  • i think they have great tips on

  • Dude!

    I’m the #1 Google entry for “Casey Serin” now!

    Can I get a cut of the book deal?!

    http://www.google.com/search?q.....0&sa=N

  • casey, where did you find these guys? they are awesome! i learned alot about the real estate market just by visiting thier web-site. WOW! With their flipping tips, i’ll be rich in no time, YES! [heading to the bank right now to take out a loan for a house on Mars. imagine how much it’ll be worth after the first Starbucks is launched into space!]

  • You’re kidding me, right? I mean, you can’t seriously think these guys are for real.

    Of course, many people who post here think you’re for real.

  • I hope you don’t actually believe this. I haven’t seen the clip, and I still know it’s a joke. There website is filled with valuable hips like:

    Myth #3:
    The real estate market bubble is about to burst.
    In order for the bubble to burst, there has to be a bubble in the first place. Let’s look at what a bubble really is: it’s round, see-through, and infinitely expandable. I’ve never seen a house like that. (But if I did, I’d buy it.)

    and:

    1. Never sleep with your realtor.
    Unless she offers to take less commission. Oh wait, that sounds like prostitution. Scratch that.

  • 11. Fairy god mother
    November 15th, 2006 at 1:25 pm

    Casey, did you actually watch the show? It’s obviously a parody. Although they are spoofing alot of the same delusions you seemed to suffer from so I can understand your confusion. Did you make some advertising money for linking to this?

  • Bwahahahahah. You’re either being very coy about this video or you’re totally clueless. THIS IS A JOKE! Those people are actors. This is the real estate equivalent of “Reno 911″ on Comedy Central.

  • 13. Please, please
    November 15th, 2006 at 1:39 pm

    I hope no one blasts you for saying you weren’t sure if this video is real. Of course it isn’t and it is absolutely hilarious.

    Wait a second. Are you the Borat of Real Estate? Is this marketing for flippernation.com? Either way it is hilarious.

  • What?! It’s obviously a satire.

  • These guys have two huge advantages on you. First, they seem like they have enough experience fixing houses that they will actually increase the value of the property before they try to sell it. This is something that you failed miserably at.

    Secondly, I assume they are acquiring properties at the present time, and probably with better judgment. They are not buying at a huge premium like you did.

    Their one disadvantage, and this is significant, is that they seem to be operating out of California. So for all we know they could still be buying at a premium if the market continues to decline. Personally, if I was doing this at all, I would be doing it in an enviroment where there had not been a huge runup that increases my risk and prices the properties out of the area where they could be rented.

    As an aside, I doubt you are going to learn anything at all from this show. You have not shown much of a talent at learning anything so far. Even if you do learn anything from this show, with your credit (and reputation) being shot, you are not going to be able finance any more real estate deals anytime soon in any case.

    It’s Wednesday afternoon. I assume you have got your twenty hours in at the new paying job you were going to start on Monday, right?

  • It’s an online only mockumentary.

    But I think can learn as much from them as you’ve learned from the “gurus” you’ve already paid.

    They are pretty much a mockery of the profession anyway, so I’m sure the information is just as good.

    I think it will be more like watching a comedy of your situation, only the flippernation bit will be funny, whereas you’ll find the reality of your situation less than hilarious.

  • 17. Granite Counter Flop
    November 15th, 2006 at 2:14 pm

    Finally a decent video on this website. Now if the guys were bouncing on a blue ball, it would have been perfect.

  • How’s that new job coming along?

  • 19. Bubblewatcher
    November 15th, 2006 at 2:18 pm

    This is hilarious. Like “The Office”, only real estate flippers. At some point, I guess they’ll feature an episode where the two of them are 2.5 million in debt and start blogging about it…oh wait…

    And yes, it’s fiction. Only an idiot would think it was real…oh wait…

  • Casey, you chucklebutt. It’s a parady.

    PS 1st post.

  • You are a MORON if you think that Flipper Nation is REAL. It is a SPOOF. Come on Casey…are you really that stupid?
    SHEESH…get a job.

    -CAT

  • Um, I hope you’re not planning on learning any real estate tips and techniques from A COMEDY SHOW.

  • haha awsome site. Its soo funy Casey didn’t realize its A JOKE SITE making fun of flippers and those shows. I like the mortgage broker kid, too funny.

    Here’s a good quote:

    Real estate is just like dating. It’s all well and good if you find a woman with a great personality, or is set to have babies. But if she doesn’t have “the goods up top” and doesn’t like to drink, then what fun will we have making those babies?

    The jig is up for the RE bubble/flipping- its starting to get mocked like the dot com crash/ipo craze was in 2001/2002. Now no one cares about dot com/tech stocks, but man it was a craze and a half until mr bubbles came along.

    Anyone posting here bagging on them for flipping now should be emabarrassed - ITS A JOKE LOOK AT THE SITE. hahahaha.

  • Casey, I’m not sure if you’re being sarcastic, if you’re just having a bad day, or if pimping this show is the whole reason for this blog (the truth, the truth, it’s finally out!). :-p

    But… come on, this show is a COMEDY. It’s hilarious. These aren’t two guys who are out there trying the Casey Serin formula for success. They’re making a show that makes FUN of flippers (like, ahem, you). Kind of odd to see that here, then…

  • did you get paid to post this?

  • No i’m not getting paid to post this… I just though it was pretty funny and maybe i’ll get a link back out of this

  • Read the website and it becomes completely obvious that the whole thing is a SPOOF. Anyone who thinks that is for real is a total moron.

  • That was hilarious. Steve Martin type stuff. Keep it coming.

  • I honestly can’t believe you’d think this was real. I’ve refrained from posting on this site until I saw this. Did you seriously think you could learn from it?

    Casey, give up your real estate dreams, sadly you’re part of my generation, we want everything now but don’t want to work for it.

    All you flippers have done is managed to artificially inflate real estate prices so that hard WORKING families could not afford homes. You should be ashamed of yourself, you need to get this thing called a JOB and get yourself out of this mess.

    For the rest of you parasites (flippers) go die in a fire.

  • Yeah, what’s up with the job Casey?

  • “All you flippers have done is managed to artificially inflate real estate prices so that hard WORKING families could not afford homes. You should be ashamed of yourself, you need to get this thing called a JOB and get yourself out of this mess.

    For the rest of you parasites (flippers) go die in a fire.”

    Wow. Some of you guys need to chill out.. learn to meditate or take some benzodiazipines or - if all else fails - smoke a little weed..

  • @Hungry Bear

    Why should they chill out? When widespread fraud perpetuated by these leeches, has driven up the cost of buying a home to the point where owning a home is almost impossible for a middle class worker, I think they have every right to get a little mad at a person who represents the very ideals of the group that are responsible.

    Too many people just chill out and don’t get excited about things, well there are some things that people SHOULD get excited about and don’t.

  • “I feel like I’m watching a baby crawling toward a cliff at the grand canyon and everyone there is screaming for the kid to stop but just watching him go.”

    Got a recent link to the vid of this?

    All I found was an old one:

    www.ogrish.com/video/babycrawlingoveredge/splat

  • 34. coyote investor relation
    November 15th, 2006 at 4:52 pm

    The job Casey. Did you get the job? Have you started? What are your duties and responsibilities? How is it that you have time to watch this satire? Supposedly you will be selling one of your properties in less than two weeks. Are all your ducks in a row? What have you done today, hour by hour, be honest. It’s time to get really, really focused and take immediate step by step actions. Otherwise you will be at the mercy of events as they unfold. And as you know, it won’t be pretty; it won’t be fun; it won’t be quick.
    I enjoy the blog. Keep writing

  • […] Casey Serin of "IamFacingForeclosure.com" joined the ‘Nation! Flipper Nation was added to The Daily Reel’s Top Ten! Flipper Nation is Revver’s Video of the Day! […]

  • Casey, most of what you did was perfectly right. The market just didn’t time with you well. Two years earlier and you’d be in an excellent position.

    You’re young, you have time, big deal, these losers that never tried or risked anything are gloating and trying to add salt to the wounds of your losses.

    If I was hiring for someone to find me properties and handle some of my investments I would chose you. You’ve already been to the bottom of the mountain.

    You were so close, you did the right thing risking it all, if not, you would never have had a chance to see some real profits and growth. You’ll bounce back from this,

    all I can add

    1) Keep your promises to people, your word is the MOST important thing that you have. In regards to the banks, hey, they took a risk hoping to make a profit, you didn’t make money and neither will they, that’s just business.

    2) Don’t a let an ounce of outside negativity in, you seem to already have enough of your own. Most of the negative losers that post are irritated liberals that can’t stand the thought of someone making money at a faster rate than their minimum wage, non-profit, save the whales jobs. I’ve made millions in real estate by leveraging, flipping hasn’t worked for me but holding on and managing them well has.

    3) Never lie again on an application, with time banks will extend you millions of dollars in credit. It’s not worth it to have risk out there than can send you to jail. From what I’ve read you didn’t go too far and this will blow over, the statute of limitations is ticking for them, you’ll be in the clear soon.

    4) Save your money, save your money, save your money, as much as you can, you’re in the cash world now until you re-establish, could be 5 years, 7 at the most. Your young age will help you alot and 10 years goes by in the blink of an eye anyways.

  • Original post: Flipping Houses in a Down Market? by at Google Blog Search: house in foreclosure Blog tag: House in foreclosure Technorati tag: House in foreclosure Pages: Start Tag: house+in+foreclosure

  • 38. Reality Bites
    November 15th, 2006 at 9:36 pm

    Glad you still have lots of time to surf and then post links like this.

    You certainly have your priorities straight:

    “and maybe i’ll get a link back out of this”

    That’s what this is all about - surfing, blogging and getting link backs … growing the Casey brand in the blogosphere.

  • Just because we only made $75 dollars on our first flip doesn’t mean that our methods aren’t sound. We just found a great condo located equi-distant between three Starbucks franchises. Pretty soon, we’ll be rolling in “star-bucks,” too! Go Flipper Nation!

  • Um, “optimist” (probably Casey or Mrs. Casey):

    You said, “Most of the negative losers that post are irritated liberals that can’t stand the thought of someone making money at a faster rate than their minimum wage, non-profit, save the whales jobs.”

    Watch what you say. This “negative loser” is an irritated conservative who believes that you only make your way in this country by taking advatage of your freedoms through hard work. It’s not “evil” to be rich or get rich, but it should be the fruit of honest work. (And if I’m such a loser, how come my house was paid off in 13 years and how come I make $80k per year?)

    Please don’t associate Casey’s actions (even in a backhanded way) with conservatism (or any other political belief system). Most normal, decent folks I know (all up and down the political spectrum) recognize what was done here for what it is - wrong and criminal.

  • 41. R. E. Billionz
    November 17th, 2006 at 10:51 am

    Don’t listen to the optimist with his paltry millions. I myself have made billions flipping mansions, palaces, and small countries. These small time RE gurus and investors are afraid to commit themselves to the true path to $UCCE$$.

    Here is my foolproof business model:
    1. Invest in distressed properties, multi-family dwellings, and/or black market organs.
    2. Amass billions in wealth.
    3. Marry that hot chick from Arrested Development.
    4. Comment a lot on Iamfacingforeclosure.com
    5. ….
    6. $UCCE$$!!!
    7. Collect underpants.

    As you can see, I am at Stage 4. (Although I did kind of skip Stage 3, but I plan to return to it at a later time.) Anyhoo, my point is that I am fabulously successful and thus qualified to give out advice anonymously on the internet. And my advice is that success is only a matter of perception.

    For example, consider this: Casey Serin owes millions to lenders on fraudulently aquired loans. HOWEVER: In an alternate universe, Anti-Casey Serin has legally MADE millions on imaginary estate and is hanging out on a yacht with Anti-Carlton Sheets AT THIS VERY MOMENT!!!

    As you can see, we are all both successes and utter failures at the same time. So put that in your pipe and smoke it (that’s what I’ve been doing.) Keep up the good work, love the saucy blog action!

  • 42. Punch My Ticket
    November 17th, 2006 at 1:55 pm

    Liar! There are no hot chicks on Arrested Development.

  • These guys are good, their show is hilarious! (Good = good actors, and smart writers.)

    I can’t wait to see more of the sleazy mortgage broker!

    NG

  • […] No, Seventy Five Dollars It’s only a matter of time before the folks at Saturday Night Live come up with a parody for the fading housing boom like they did when the stock market took a header a while back.Until they do, here’s one from Flipper Nation:Nice work!Buy it, fix it, sell it.The guy at IAmFacingForeclosure.com doesn’t even seem to realize that it’s a parody.That explains a lot.The SNL crew had a great piece on consumer debt back in February as transcribed here - the video is available somewhere on the internet.oooLast week’s cartoon from The Economist: […]

  • […] No, Seventy Five Dollars It’s only a matter of time before the folks at Saturday Night Live come up with a parody for the fading housing boom like they did when the stock market took a header a while back.Until they do, here’s one from Flipper Nation:Nice work!Buy it, fix it, sell it.The guy at IAmFacingForeclosure.com doesn’t even seem to realize that it’s a parody.That explains a lot.The SNL crew had a great piece on consumer debt back in February as transcribed here (the video is available somewhere on the internet) - it’s only a matter of time until they catch up with the flippers.oooLast week’s cartoon from The Economist: […]

  • […] from The Mess That Greenspan Made on 26.Nov.06 at 11:30PM It’s only a matter of time before the folks at Saturday Night Live come up with a parody for the fading housing boom like they did when the stock market took a header a while back.Until they do, here’s one from Flipper Nation:Nice work!Buy it, fix it, sell it.The guy at IAmFacingForeclosure.com doesn’t even seem to realize that it’s a parody.That explains a lot.The SNL crew had a great piece on consumer debt back in February as transcribed here (the video is available somewhere on the internet) - it’s only a matter of time until they catch up with the flippers.oooLast week’s cartoon from The Economist: post comment Rate It! […]

  • You are very creative Casey. I love your pic with the clock.
    After all my “how dare you” posts and lectures, along with everyone blaming you, I’ve come to the definite conclusion that you could not have done this on your own. There are at least 3 others out there who were in collusion who should have known better. The very sad part is they are going about their business while you are faced with this disaster. They knew it couldn’t be done but continued to get the loan for you etc.. It was a set up for disaster from the start. They only cared about lining their own pockets with the super fat (totaling upwards of 100k) commission checks. It isn’t your fault. It’s not the cash back angle that doesn’t work, but the fact that there was no real room for it in those houses, so the equity was falsified. Think about it. They don’t care about you. You were only a dollar sign to them. I say this because it was common knowledge that the market could no longer support the types of deals you did and the people who colluded these rotten deals with you KNEW THAT! They knew there would not be an end buyer for you. The market was stale and STILL IS, as you can see. They, being professionals, should have alerted you to this fact that your exit strategy may very likely fail, leaving you stuck with the houses.
    Most all investors were selling off our inventory, hunkering down to wait and see about the market, when you, being a newbie, were buying like crazy. I feel you were being used. I feel bad for you.
    This is taking long because it is not all about just you. There are others being investigated. They had violated ethics when they assisted you in obtaining funding for houses that could not bring a return. (This doesn’t count the other illegalities, Never mind the other details of the deal…GEE…Some deal….)
    Is it safe to say that you were duped into believing this would work, as a means to generate an income, in a market that unloaded their unwanted goods onto you without you knowing it?

    You thought this is the way it is always done.
    After all, they used your naiivete to carry this through.

    And when I stumbled on your site while surfing one night, the first thing I saw and heard was a statement by you saying; you are making this public to shed light on the people who got you into this jam.
    It remains the reason you should continue on this site. It is the only way you can absolve yourself, pick up the pieces, and move on.

    You did not knowingly try to cheat anyone right? You were led there, right. You are the one who has been cheated.
    Hang in there. Maybe now you’ll decide to rely on your intuition, remember?

    Hang in there. It’s not your fault. You didn’t know what you were getting yourself into. You were misled by professionals in the Real Estate Industry. You were taken advantage of. If a professional R.E. person is telling you it’s ok to do “it”, then the consumer thinks it is ok. The greed goes back to them. It has the beginnings there.
    Keep going Casey. It is not about you. It is about collusion.

  • 48. Time Will Tell (Box thinker)
    December 8th, 2006 at 10:08 pm

    Is this site going to just be about random bad stuff in real estate

    Just random stuff. That’s the way Casey’s mind works.

  • 49. Time Will Tell (BK psychoanalyist)
    December 8th, 2006 at 10:22 pm

    @ You are ok
    December 1st, 2006 at 8:53 pm

    OOH! Great post, Casey

    You are very creative Casey. I love your pic with the clock…Keep going Casey. It is not about you. It is about collusion. LOL

    By posting this, it seems that you are making the transition from Denial to Anger. That’s good. But blaming others is not going to get it done. You signed the loan papers, knowing they were frauds. You decided to live on the money you withdrew. You made thr choice to move too fast. You are the one who will not listen to the good advice posted here. You decided to ‘wrap’ the bank’s Utah home without checking the buyer’s credit. You refuse to take real responsibility for your actions.

    It’s taken you a long time to begin your transition to Anger. However, you need to move through the other stages of grief first. Problem is that the process of foreclosure will move faster than do you.

    As I often tell my children, and folks who work for me, “If you don’t decide, someone else will decide for you.”

    File BK and start again. The systems allows it, and you have time for it.

    Just do it