Realty CheckWith a phone and a laptop, one South Carolina man is able to make real estate deals around the country, buying up the growing up number of foreclosed properties on the cheap and making a bundle. The homes are then resold to Americans who never dreamed they could own their own home. The man in charge, Odell Barnes, is now a very rich man, but are his buyers as fortunate? "Nightline's"Vicki Mabrey looks into this real estate venture.
51 comments:
Numero uno
Twice in a day... woohoo
Hey - Steph's on top of me!
Ummmm I can.... oh nevermind. ;-)
I love it when Steph's on top!
Steph, I posted a link to your Casensus. Be prepared for a deluge of my loyal fan.
and steph is on top of Nigel's alternative take.
So does anyone have a stream of the original Nightline where taraxacum officiale looserius was featured?
I'm reaching here, but I appreciate the previous feedback:
A condition of Casey's probation
Was to pay off his debt obligation
The judge was astonished
And Casey admonished
When he said, "First, can I go on vacation?" :-)
TERST!?!?!? Oh eff it...
Anyone remember the shady fraud factory 'university' casey was hooked up with?
Man it makes me ILL!!
He posted photos of 20 something kids performing frauds such as Straw Buyer, Flipping Fraud, Mortgage Fraud, and probably Identity Theft.
WHY WHY WHY cant the feds shut them down? Im sure the majority of the 'click a mouse and buy a house' homes go to foreclosure.
ClickAMouseAndBuyAHouse @ 7:37 PM:
Nouveau Riche University.
http://www.nruniversity.com/
His "contact" there was a fellow named Chris Record.
Stephanie J -
What's the current Haterz count? I thought there were only 12 of us.
Mr. Barnes is the Anti-Casey
Odell Barnes
My favorite thing about NRU is that their chancellor was convicted of theft and trafficking in stolen property. From John T. Reed:
"James Phillip Piccolo filed Chapter 7 bankruptcy in Phoenix on 8/27/90 (petition #2:90-bk-09050-RGM). On 6/16/92, a Phoenix grand jury indicted James Phillip Piccolo for “Theft, a class 3 felony and Trafficking in stolen property, first degree, a Class 2 felony,” namely, the theft of a 1981 Mercedes Benz and the sale of its parts (No. CR92-91584). Piccolo pled guilty on 12/7/92 and was found guilty by Judge David L. Grounds of the Superior Court of Arizona, Maricopa County."
Here is Chris Record's site.
Just read this interesting article in the Washington Post. It all sounds like old hat to you me and Mr Serin (and his associates) I'm sure.
The bit that sticks out:
To move the properties, they entice buyers or friends to "submit an offer [for the home] that is $30,000 to $100,000 above the current list price" with the promise that they will get substantial cash at closing.
The real estate agents then amend the multiple-listing-service asking price to match the artificially inflated offer price. A house that had been sitting for months with no takers at $450,000, for example, might be relisted by the agent at $525,000.
Then, working with a cooperative appraiser who has promised to hit the number and an unscrupulous mortgage broker who simply wants the commission, they "change the [loan] documentation to reflect the [artificially inflated] sales price." The loans typically are for 100 percent of the price of the house. The seller nets the price he or she had originally listed -- $450,000 in this example -- and the buyer gets some or all of the $75,000 inflated differential as cash at closing.
That's a nice picture of Chris and his Mom.
i read about this guy in the WSJ like a month ago
So if I go for the doctoral program at nr university, when I graduate, I will be Dr. Nigel Swaby, PhD? Sweet. Chicks will dig me. Can I get a tuition loan from Sallie Mae or someone? It would be even better if I could get cash back on my tuition loan. Sign me up!
I really don't see how people can fall for these type of scams. I mean c'mon, if this numbnuts was making so much money hand over fist with his methods, why the hell is he charging so much to learn how to do it? Wouldn't he be spending all his time getting new deals and making mo money mo money mo money?
The guy is 28, it's not like he is sitting on multimillions and has decided "Ah shit, I guess I have enough, time to give back to the community"
I'd really like to see his REAL track record. Casey could have been such a shyster, well hell he did try with his pathetic plea to his friend at "I will teach you to be rich" but it is easy to see how little knowledge Casey really had, and has. I can't believe the little shit actually thinks that he is a fountain of wisdom for people going thru foreclosure.
Murst, loosers!
On a more substantial note, I've always thought that Casey/Nigel's attempts at making IAFF profitable in some way are a bit like those fundie nutjob Xtians trying to turn people back to their medieval way of thinking w/Chick Tracts. Both IAFF and Chick Tracts are quite popular, but not for the reasons their authors think they are; it's the unintentional hilarity of both that draws so many readers. What's even funnier is the respective authors of both hilarious time-wasters actually think the vocal masses who laugh up their sleeves at them actually comprise the minority of their readership. As a longtime listener of Coast to Coast AM, I'd like to submit my own conspiracy theory: The equally egotistical and delusional Casey Serin and the Chick Tract guy are one and the same. (Hey, it's a much more well-grounded speculation than our FFF's oft-repeated "good things are coming," eh?)
NRU says:
"It has never been done before – NEVER! No one has ever created an educational environment that teaches adults the way to create wealth, using the time-tested, foundational principles adhered to by all higher-education institutions."
I'm sure Harvard Business School is taking notes! If only some respected university would offer a real wealth creation and managment program . . . then all those loosers getting MBA's could go out and make some real money . . .
Last one of the night, sleepy time. Apologies to Steph for using her as the first rhyme, your last initial just fit perfectly though... hehe --
A woman named Stephanie J.
Claimed that Casey and Nigel were gay
While Nigel denied it,
The 'Case' couldn't hide it
And said, "He's a pretty sweet lay!"
If your last name is accented on the last syllable, the first line could also be:
A blogger named Robert Coté...
:-) Nighty-Nite!
Newsflash alert!!!!
Nigel has found a new source of hair implants from another part of his body...
pubes...done
armpits...done
yep, you guessed it...his ass hair.
Remarked Nigel "I just felt it would give my implants a more natural look, you know, curlies, odor, and muskiness. All three of different consistencies and textures...I think I'm gonna be the NEW hair club for men!"
Benoit™, you sir are amazing.
I'd say it's at about 115 with double-posts--I'll verify when I'm less lazy.
Those of you who haven't posted yet; do so please. :)
It's alright; Benoit™. You know I'm in it for the attention.
Yeah, baby.
Looks like Chris Record of Nouveau Riche University has a myspace.
SURPRISE! He highly recommends NRU.
http://www.myspace.com/chrisrecord
I feel like I have to go take a shower after seeing that.
12.25 hours until Casey has officially been foreclosed out of his last property.
I'm half expecting a post about how the foreclosure sale has been postponed, yet again, because the short sale offer is that close to being accepted.
"Back to the bank it goes."
Nigel Swaby writes (and rather poorly I might add):
Remember the haterz say if they stopped going to Casey's site, his blog would die. Casey sees about 150k unique visitors per month, so if their claim is true, Steph's census should show quite a few comments. Right?|
I don't believe Casey gets 150K unique visitors per month, but let's humor Nigel shall we?
150K, hmmmm....
Ok, it breaks down like this:
145,000 curious first and last time visitors.
2,000-3,000 repeat customers.
2,000 haters/loathers/realists most likely.
Of those visitors:
90% never return or return a couple times a month and rarely post.
5% visit 100s of times per month and lurk or post once in awhile.
3% visit 1000s of times per month lurk or post a few times a month.
2% are the bulk of the posting and repeat customers.
I'd say that 95% of the visitors feel disgust or frustration over Casey's b.s.
3-4% are on the fence.
1/2 of 1% are most likely cheerleaders.
The other half want the kid to succeed but don't care otherwise.
So tell me this...of these 150K per month who supposedly visit, HOW MANY need help? Even if a few hundred are in a similar financial quagmire (not 2.2 mil of course) why would they pay Casey when they can read the blog for free? They can take some lessons from the kid but, again, why pay?
THIS is where Swaby ol' boy gets it wrong.
150K my ass. Maybe during the height of this blog, but I am of the belief that it's a third of that total per month and it's certainly not unique visitors.
The Swab needs to stop buying Alexa's estimates as set in stone because even they admit it's not.
@Nigel Sw*by Sux:
Your statement is flawed. You did not include all of Our Hero's lenders & law enforcement in your equation.
@Steph J
Wow - you have 115 posts (almost all unique) JUST BY ASKING in the sapce of a few hours!
That is one.one.five.
I wonder how balding, pleather-wearing moguls feel about that compared to their own comment-less sites?
@ nigel swaby sux
Last month Casey had about 160,000 visitors and yesterday he had about 6500.
Visitors as defined by Sitemeter: Site Meter defines a visit as a series of page views by one person with no more than 30 minutes in between page views. If you click on a link to another site, and then come back to your site within 30 minutes, you are still on the same visit and Site Meter won't increment the counter.
With the NFL draft coming up, will we have a "Haterz(tm) Draft"?
On the clock, who will be chosen? Will it be the shifty Casey or the ever smooth Nigel?
Here's a few as the early morning coffee starts to kick in:
As Casey had wheatgrass and juice
He thought 'No way can I loose'
Then the law swooped in
No longer win-win
Now he has to protect his caboose.
The broker dreamed of a Rolex watch
While servicing Big Bubba's crotch
He wore his best pleather
And a veil made of feather
Bubba said 'You're my beyotch'
First round of the draft I'll take Ogg the Caveman. He can do some damage with that club!
Sorry Steph, your boots were a close second.
"As I kept reading his story, I realized he's very intelligent and pretty shrewd about reaching his goal of avoiding foreclosure," Swaby added."
Haterz™ Census
Pop: 137
It's a family reunion over there!
Steph -
Ok, so I'm a dolt, but I wanted to check in on the blog and the ASW is a parking symbol? Help?
"Mr. Barnes and his investor friends don’t fix up the properties. They tack up handwritten “For Sale” signs informing potential buyers of required down payments and monthly payments — usually just a few hundred dollars each."
Imagine that one of these signs goes up on a house in your neighborhood...and how much harder it would be to sell your house at the same time.
But no, Casey Galina and Nigel had nothing to do with this, did they?
That's okay, Gameover... I'm not a good sportsman anyway.
@Anon with ASW problems...
???????????????????????
I have no idea what to do except remove the ASW... Did you figure it out?
grrrr ... damn pets woke me up at 5 AM and then I slept through my alarm. I'm cranky.
On the other hand, I'm not losing a property to foreclosure today, so at least I'm having a better morning that Casey!
Bemused Guy, I don't think that NSSux guy's info is that flawed. The lenders and others fall under repeat customers and could easily be in the 5% repeat lurker estimate.
The guy made a good post. Much better than anything stupid Nigel could ever come up with.
I just saw the video of the guy who is the subject of this thread on Nightline - pretty interesting; he should have his own show.
Count me as a hater!
Caught the replay of this story on the early a.m. news. Seems 30% of Odell's resales wind up in foreclosure. Would have been nice for some follow-up questions there, i.e. do Odell's buyers get bank financing, therefore banks get to handle the same prop in REO again, or does Odell finance, meaning he's probably covered his .20 on the dollar nut with early payments and keeps recycling them?
The prop's shown on the segment were serious POS. On one, bank wanted $14k, Odell gets it for $2k.
Aspeth - here is a fulelr story of Odell:
http://www.realestatejournal.com/buysell/markettrends/20070315-hagerty.html
Ooops, misspelled 'fuller'. By the way, the article says he makes $1m a year...
Sweet!™
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