Young Casey is starting to retell his story in a more favorable light:
I’m not unemployed, I’m SELF-employed as of Jan of this year when I quit my website programmer job. I also have a website design business on the side. I ran my loans via the business.
No he did not. He took out personal loans with misstated income and used simultaneous closings to avoid further DTI impairment.
The properties I was buying were far enough below market to be able to work the 20K holding costs into the equation. Problem is that I miscalculated the length of time to fix up and sell so my holding cost money ran out.
"Holding costs." Illegal cash back at close that were previously acknowledged to be outside of escrow.
I’m not a RE agent. You don’t need a license to sell a property. All it takes is a contract and a title company. everything is done legit and you get title insurance.
"Casey Legit™" sounds like a new paradigm as well.
Somebody stop him before he causes any more harm. Please.
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A Sweet Phone Call
I reorganized the office this morning , so after lunch I decided to start reading my new RichDad book. Even though I’m an Inventor Rational Promoter Artisan, I need to work on details and execution! That way everthing with run SMOOTH.
There is a bunch of stuff I need to learn, like: “Employees focus only on their resources. Entrepreneurs focus on opportunities regardless of their resources.”
Unfortunately, I didn’t focus on resources when I was an employee because I didn’t have this book then. So I want some help on what resources I don’t have to worry about as an entrepreneir.
So I decided to call the RichDad 900# ($3.99 a minute). But BEFORE I called, I put together a Google spreadsheet to calculate how much the call would cost. I figured 1 minutes to ask the question and 2 minutes to get the answer. THat means the call would cost $11.97. (And they put it on your PHONE bill so I don’t have to put moreon my credit cards. That’s SMART)
I got to ask my question quickly, but the RichDad Entreprineur Consulting Advisor had a bunch more questions for ME! I was thinking he were maybe trying to keep me on the phone longer but the advisor was asking a lot of really good questions. After we went over all of my goals, he started giving me some sweet advice but my pen RAN OUT OF INK.
Because I reorganized my office I couldn’t find where I put the pens so I started going through the house trying to find one. I found another one in the kitchen, but someone left the cap off so no ink there either. Then I examined all of my options and thought a pencil would be okay. I saw one next to the toaster, but the tip was broken. Finally I went back to my office and found my pencil sharpener and started writing stuff down.
So the call was actually 23 minutes. After logging on to my Google spreadsheet, I calculated the call cost $91.77 (ouch!).
But that’s okay. When my multimillion dollar entreprise opportunites kick in I can pay that off and all my wife’s credit cards/.
Rob Dawg,
Maybe there is hope. The latest visitors to IAFF are.
1.Domain Name (Unknown)
IP Address 204.100.237.# (County of Riverside)
ISP County of Riverside
Location
Continent : North America
Country : United States (Facts)
State : California
City : Hemet
2. Domain Name (Unknown)
IP Address 63.166.226.# (COUNTRYWIDE HOME LOANS)
ISP Sprint
Location
Continent : North America
Country : United States (Facts)
State : California
City : Simi Valley
3.Domain Name bear.com ? (Commercial)
IP Address 207.162.229.# (Bear Stearns Security Corporation)
ISP Bear Stearns Security Corporation
Location
Continent : North America
Country : United States (Facts)
State : New York
City : New York
Maybe casey can update his story...
his old blog was full of NAPS,,,
**************
http://news.bbc.co.uk/2/hi/health/6354855.stm
Afternoon nap 'is good for heart'
Working men seem to benefit the most from a siesta
Taking 40 winks in the middle of the day may reduce the risk of death from heart disease, particularly in young healthy men, say researchers.
How can you find the IP's and track down where they are coming from?
It cannot fathom how its gone on this long.
:jaw drop:
So, I saw a piece on the news last night about a person-to-person loan service called Prosper. It looked like an interesting idea to me (I'm intrigued by the idea of micro-loans to help people out who actually need and deserve help), so I thought I'd check out the details on their website.
On the front page (prosper.com), it presents a list of folks looking for loans.
One of the choice ones that caught my eye is this pair:
http://www.prosper.com/public/lend/listing.aspx?listingID=96851
The future is promising for all of us, cause once Casey is sent to the big house, and G has to spend her days cleaning houses, we'll have Casey v2.0 to watch go down in flames.
Related to that, how long before Casey sees this and starts putting loan requests for his next trip to Hawaii on there?
-S
Where are you guys seeing these posts from Casey rewriting his history? THey're not comments on the most recent couple of (yawn) posts?
@Anon 8:28
I think it's called creative writing.
I'm just amazed at the amount of time and thought these posts take. LOL.
I wonder when Casey last took out the trash.
Maybe whoever is writing the 'creative' posts could label them as such? That way we don't have to visit Casey's site and violate the boycott. I've been over there twice this morning to see if he really said that!
Hmmmm,, I wonder who in Hemet is interested in Sercasey? I have an Uncle who used to live there and he works for various government agencies that don't exist in any shape, way, or form officialy.........hmmmmmm Maybe he is about to be "rendered". THAT would be SWEET!
What a fucking tool though. I get agita just fucking thinking about going to IAFF anymore. Hey Finook, when you do get a real job picking tomatos or something, I am going to make sure your employer knows who you are. I warned you once.
@sredniv
I can't belive people are actually investing in those two cretins. They may have had me at 24%(rather than their 17.5%) because I KNOW that I could at least get that with Casey.
Actually, anyone want to give Casey a heads up on these two as an investment possibility..they would be a great asset to his 'team'
@Tony
"What a fucking tool though. I get agita just fucking thinking about going to IAFF anymore"
What are you talking about, I learn so much over there about how to sleaze my way out of foreclosure and screw over the lenders all while telling them how much I want to repay everything.
I think that last grab at $250 measly dollars (remember when he had dreams of making 5k/hr) is when he realized he has hit bottom. I don't think that would even cover Galina's bills. They wil prabably blow it on a night out at macaroni grill followed by jamba juice then a late night at Denny's. Like has been said here before, once the foreclosures are done with..frankly, I would just like to see him get a job.
I wonder when Casey last took out the trash.
Casey does not take out the trash. He recycles it into his blog.
Backstage said...
I wonder when Casey last took out the trash.
Casey does not take out the trash. He recycles it into his blog.
Actually, I believe it was the last time he took Galina out on a date....
um, after the foreclosures, casey will have a job making license plates...
that prosper.com site is mind-boggling. In addition to those wannabe Nouveau Richsters, I found this woman who needs a downpayment for the house her fiancee is buying. And how will she pay back her portion of the downpayment?? With equity from the house once they buy! Good lord lady. Just save your pennies and rent for a while. And the part about wanting to pay back prosper people vs. faceless bureaucrats of a lender?! Priceless. Anonymous people lending money at usurious rates over the Internet are so much more human...
http://www.prosper.com/public/lend/listing.aspx?listingID=98769
@ SredniV
There's a decent chance they'll get funded which is amazing.
5 accounts currently delinq.
48 delinq last seven years.
1 public record.
Off to real estate collige we go!
They're 36% funded. Amazing.
Fools, money, etc.
Looks like prosper.com has a legitimate function. I spent a few minutes and there'sdefinitely sweet spots (sorry) where things like Grade C credit and 16% interest are snapped up by savvy investors. Then there's the outliers or should I say outliars where these people shpouldn't be allowed to touch credit for their own good. Some of those get funded, unfortunately the words real estate seem to enhance the possibility. Surely somebody could put Casey p there as a spoof? Can you see it?
Consolidate high interest rate loans and bring property payments and taxes up to date; $180,000.
Do you think Ghoulish Mom & Dad are floating the prodigal son?
I can't imagine where else he's getting income from.
He still manages to enjoy his life quite amply... sacrificing very little for his problems.
Where the hell is his $$ coming from?
They should call it BEGGARS.COM
Or TOOLAZYTOEARNMYOWNMONEY.COM
Or CREDITSUCKSSOBADYOUAREMYLASTHOPE>COM
AStephanieJ
I think you are on to something...I think Mom and Dad are stuffed and passed away a long time ago..they probably have good credit scores soooooo...
I’m not a RE agent. You don’t need a license to sell a property. All it takes is a contract and a title company. everything is done legit and you get title insurance.
Since when has he tried to sell the properties besides making some first semester desktop design-class flyers, that are so busy nobody reads them? He doesn't even bother to go and look at the properties for months at a time, let alone sell and show them.
The kid just talks out of his ass.
@stephanie
"The kid just talks out of his ass"
Ummm, no, that voice you are hearing is Nigel:-)
not sure how prosper.com works, but a lot of these new web-based credit providers who connect people who need loans with lenders, spread the risk amongst a number of people. that way, if they are defaulted on, one lender does not lose all their cash.
clearly there are some real losers on this site getting funded, but i do think it is a great idea.
yeah but if EVEN their own family and friends won't fund them..so they go to strangers..what does that tell you?
Not everyone is blessed with a family/friends support structure. I think I'll pour a few hundred into prosper.com to see how it works. Like I said before there seems to be a collective ability to pick performing products. Lot's of credit card consolidation loans to A Credit people with j-o-b-s and just got caught in a squeeze that sent their rates to usury. They are managing $25,000 balances at 23.9% so they can surely handle $25,000 balances at 16% instead.
Good luck rob, I've been to the site, weeding out the good people from the scam artists is going to be tough.
As for family and friends, I've always thought that one should always look inwards for strength and support.
I think Prosper.com and similar sites have a future. I have a little bit of money lent out and I've found that you do have to be careful, just like any other "investment."
Prosper does a fair amount of due diligence and gives you some pretty good tools to make a decision.
I may have been too harsh, but I guess that picture of those two smirking real estate mogul wannabes holding up glasses of champagne got my goat. I noticed mr wanna go to real estate college wasn't willing to sell that big screen tv he had in the background to get money for his class. The guy isn't even willing to invest in himself...
Legion,
I think you've got it wrong. There's "his money" and "other peoples' money." This is what they teach at Casey's alma mater NRU. The big screen is his, part of the picture of success so necessary to be even more successful. Why do you think these guys stand in front of Hummers and BMWs? This is as old as Robert Ringer. I read his book a zilllion years ago like while I was still in one of my first colleges. I still chuckle at his description of attending the closing as the sales broker with HIS OWN lawyer.
Most rich people I know drive 10yo Jeeps and 15yo Corollas. I look forward to the tide receding just to laugh at the shrunken naughty bits of those that were swimming naked.
My view on the whole prosper thing is that there is an opportunity to hook lenders up with people who actually can use it.
Looking at a lot of the listings, there's a whole lot of crap on there, but there are probably opportunities for some investments with true positive social benefits.
Most of them look like complete Caseys, though.
I would agree that Prosper does serve a legit purpose, but I'm wondering how well they screen their applicants info. In glancing over some of the applicants I noticed this one huh??.
There are just so many things in this scenario that don't make sense.
1) he claims a debt-to-income ratio of 39%, but if you add up his mortgage payments and car payments, it's close to 80%.
2) the payments of his consolidation loan over 3 years is $532 vs. a current payment of $1,100? Just what kind of credit card does this guy have? All my cards have a minimum payment of 3% of the current balance. So if $1,100 is too much, why not just pay less?
3) He claims to be a loan broker and if anything happens he can pull equity out of his property, or even sell - so what's stopping him now?
4) his expenses doesn't include property tax, mortgage insurance, or anything such as cable/sat, internet, or entertainment. So who pays these expenses?
I believe that I'm probably not the only one who has doubts as this seems to be his fourth time asking for money (his first time was for $10K). Still, it makes you pause.
Recond,
My turn to say holy crap. 4 houses in or around Vallejo worth $3m with $650k in equity and he needs a 20% loan?
My take:
1 His mortgage business origination fees are in the crapper.
2 He's been a mortbroker for 4 years so his properties are all 2003-2007 vintage.
3 There's NFW he's cash positive on two to the tune of $1300/mo.
4 oh nevermind... this one is a stinker.
If he really has that kind of equity, why the hell can't he take out a loan against it? Pulling $14k out at less than 20% should be child's play.
Tempted to create an id over there to post the question to them as to whether they've read IAFF, if the "real estate eduction" they're going to is the same stuff, or if they're participating in (gag) Nuevo Riche U....
i don't want him to go to jail because i love his blog too much.
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