Alright, I admit it. I'm angry. This sh!thead wants in your face haterz™? He's got one. He's fraking with my kids' future and he doesn't care. There's so much here everybody just take one paragraph and respond. I'll assemble the commentary into a new unified post. Casey Serin (born September 10, 1982) is a failed real estate investor who, at the age of 24, became known as the “poster child for everything that went wrong in the real estate boom”. Serin was born in Uzbekistan and emigrated to America in the mid-1990s. In his early twenties, Serin was working as a php script programmer for Pride Industries. (a group that employs mentally disabled people), but he decided to quit this job with the hope of earning a living flipping houses. Beginning in October 2005 and continuing through the following year, Serin purchased eight houses in various U.S. states, and then began blogging about the process of facing foreclosure on several of the properties he was unable to sell before his money ran out.
Background
Although Serin was unemployed (with no ostensible income) when he bought the houses, he chose to declare on his loan applications that he was employed and earned a steady income…
I was employed at Pride Industries for over a year (Since Aug 2005 2004) making $50,000/yr salary when I applied for the Calla Way, Sacramento house in September/October 2005. My income was just shy of doing a full-doc loan so we had to go stated-income. The income was stated a little higher then I was really making in order to qualify. I was told this was a common and allowable industry practice.
I bought the house slightly under value ($330K) with built-in $30K of equity which I chose to cash-out right at purchase by buying at full appraisal value of $360K with 100% financing. (My FICO score was only about 630, I think). I used the money to pay off our $30K of credit cards: about 15K was from Russ Whitney RE seminars and the rest was expenses from wedding in 2004 and miscellaneous consumer debt.
After some cleaning I immediately started marketing Calla Way myself (without an agent) in order to sell it at retail quickly and pay off my loan. I ended up selling the house on January 4th for full retail value (360K+costs) and simultaneously buying the buyer’s old house - Burdett Way, Sacramento. I didn’t want to lose the buyer and didn’t want to wait for their old house to sell so I put the transaction together to where we bought each other’s houses. This allowed me to secure the $30,000 as profit which up to that point was really part of the original loan.
The truth is I was a bit desperate to sell Calla Way because I didn’t want to start making payments on it and I knew the market was starting to reverse so I had to act quickly and make the deal work. I also got a little emotionally involved when I found out the buyer is a family trying to move to a better school district and safer neighborhood for the kids. I wanted to help them out and ended up paying too much for Burdett considering its condition and location. I figured trading down to a lower mortgage amount (295K) was still a smart move because it will be easier to service the payments.
By the way, I applied for Burdett property while still being employed at Pride Industries but had to use a stated income loan again. The stated income was within reasonable parameters for my job title (Programmer/Analyst) and it was justifiable at the time based on the advice I’ve been given by the real estate professionals working with me.
After that I tried to lease option the Burdett property while looking for more deals. Since paying off my credit cards my score went up to around 680. I was ready for more action.
In early January 2006 I took a 3 week leave of absence from my job at Pride Industries and flew with some investors to Albuquerque, New Mexico, which was a hot area for investing. There I put two houses under contract (Sonora Way and Guadalajara).
I came back to my job and found myself so busy managing all these deals that it was starting to affect my programming job performance in a big way. I didn’t feel it was fair to my employer to be doing my business on company time. So I ended up resigning from my job the same week and (end of January 2006) to pursue real estate investing/flipping full time.
I also had a side business doing freelance web design, web application development and hosting. I’ve have been doing the web business on and off for the last 10 years. I used the business to qualify for all of the loans going forward. Since it was hard to verify income from the business continued to use stated-income loans.
The only loan where I didn’t state my income was the Angleridge property in Dallas. There I got a loan from a hard money lender and they normally don’t even check credit because they only lend upto 65% LTV and thus are pretty secure with just the collateral.
… Serin has repeatedly admitted that he lied on his loan applications regarding his employment and his intention to reside in the purchased homes. To avoid lenders seeing that he had taken out multiple loans, he used several lenders for the various properties, and filled out the loan applications within a short time frame, so that the loans would not have sufficient time to appear during a credit check…
See my explanation of employment above. I did not lie about employment but I did state my income (within reason) to meet the debt-to-income ratio for each particular loan amount.
I did run each each loan as an “owner occupied property” or as a “second home” in order to qualify for 100% financing. I didn’t have any other properties at the time and I was buying all of them so fast that the credit report didn’t show all the other loans right away. This allowed me to justify the owner-occupied or second-home status. At the time this seemed OK to me and the professionals I was working with.
… In addition, he received cash back at closing on most of the properties — for his California properties, Serin received more than California’s legal maximum rate of 3 percent of the selling price.
Yes, I got cash back at closing through different methods. Sometimes disclosed on the closing statement, sometimes not. Either way I didn’t realize this was fraudulent behavior, I just thought the lenders didn’t like it. I definitely didn’t think I was committing any kind of a crime.
Cash-back at close is a pretty common technique among the real estate investors and associates that I collaborated with at the local investment clubs. I just thought it was a great way to finance repairs and payments for the fix-n-flip investment strategy.
The cash-back money was spent on both the mortgage payments for the houses, and on various luxuries such as a Hawaiian vacation for Serin and his wife.
Almost all of the cash-back went toward the repairs and servicing the 15-20K monthly burn-rate on 6 properties (at the peak) which includes mortgage payments, taxes, insurance, utilities, travel expenses, etc. Some of the money (about 15K, I think) went toward additional real estate seminars so I can get better and learn new techniques.
We also used the money for living expenses since this was our main business during 2006. The goal was to buy at wholesale, take some of the equity out at close, pay a few payments, fix up the properties and sell at retail and pickup an additional profit on the sale. Since I quit my programmer job I had to use some of the cash-back to live on while we wait for the houses to sell.
I never intended to commit any kind of fraud by taking the cash out and letting the property foreclose. My goal was to make a business out of it. I simply got overzealous and made some beginner mistakes. How many new business owners don’t make any mistakes?
And yes, I did take my wife for a surprise anniversary trip to Hawaii. We haven’t gone on a real vacation since we got married and I wanted to do something special for her. This was not a lavish or extravagant trip by any means. We even saved money by living with a friend for part of the week.
In a matter of months, the money largely ran out, and Serin is now 2.2 million dollars in debt, with a net worth of around negative $600,000. Interest in his blog at http://iamfacingforeclosure.com developed first among readers of blogs devoted to the United States housing bubble. His story was featured in USA Today, National Public Radio, and the San Francisco Chronicle, among other mainstream media. An online discussion of the fraudulent nature of overstating income in stated income loan applications uses the case of Serin as a running example.
Many readers of the blog initially encouraged Serin to contact an attorney in the hopes of discharging at least a portion of his debt by filing bankruptcy. Serin has largely ignored this relatively sound advice, in favor of essentially ignoring the problem and letting his debt burden grow daily.
I did consult a couple of different bankruptcy on several occasions. Filing bankruptcy is not a magic pill and has many consequences and issues that need to be considered. Every case is different depending on the desired outcome.
In my case I chose to avoid bankruptcy and attempt to pay back the debt by selling the houses and/or pay back most of it by doing a short sale and avoiding foreclosure on my credit score. If I was to declare bankruptcy it would have interfered with the short sale process and would have forced all the lenders to foreclose on me for sure. (With the exception of maybe one of the homes if I would choose to move into it.)
Chapter 7 bankruptcy doesn’t prevent foreclosure, it simply delays it 1-3 months. The secured lenders still have the right to liquidate the asset and will exercise that right in order to minimize loses. Even if my mortgage is discharged in bankruptcy the lenders still get to foreclose on the house - their collateral. Then I would have both a bankruptcy AND a foreclosure on my credit.
Chapter 13 bankruptcy (the repayment plan) wouldn’t have helped me much either because I didn’t have a stable income or a large enough income to try to negotiate a repayment plan on 6 houses. Chance are I would probably miss a payment and the houses go right back into foreclosure. I didn’t want to sight up for something I can’t commit. Even if I was to get a job there is no way I can earn enough per month to get on a repayment plan to catchup and float the amount of debt I have/had. Chapter 13 would also prevent me from doing a short sale on the properties and avoid foreclosure on my record.
Anybody who says “why don’t just declare bankruptcy” without considering all of the issues above obviously doesn’t know what their talking about. On the moral side, I felt declaring bankruptcy would have been equal to giving up the fight and walking away instead of trying to make it right.
Various readers of Serin’s blog have estimated that the interest on his debt is growing at the rate of approximately $600 per day. Serin has been referred to as the “pied piper of financial ruin”, and his plans for remedying his debt have many readers wondering if he is being overly optimistic, or if he is in denial over the gravity of his financial situation. In early 2007, Serin set his goals for returning to fiscal solvency — he plans on amassing an even greater debt burden by attempting to purchase an apartment complex.
Perhaps the apartment idea was a bit extreme. But what am I going to gain be being a pessimist?? Positive thinking is what kept me going all these months. Sure, some of my ideas get a little crazy but I didn’t want to just give up without a fight. “You miss 100% of the shots you don’t take” is the quote that comes to mind.
In addition, Serin has proposed to transfer his personal debts to a shell corporation purchased with the sole aim of hiding his debt, a course of action that numerous people have advised him is blatantly illegal. Serin initially conceded that there might be something “shady” about his proposal, although he has gone so far as talking to a corporate attorney about the plan.
See the problem with my haters critics is that most of them don’t understand enough about what I’m doing to give me competent advice. Everybody is quick to judge and since they have already made up their minds about me, everything I do is going to be “shady” to them.
Buying an existing corporation and applying for cash lines of credit with the help of a credit partner is a perfectly acceptable and legal business practice. I can even borrow from the corporation to refinance my person credit, as long as that’s not the only purpose of the corporation’s existence. My goal was to continue doing real estate and other types of investing with my corporation. So I may or may not use the cash lines of credit to refinance my debt. There are several issues to consider and I’m still in the process of seeking advice and figuring all that out.
Despite his repeated public admissions (both via the blog and on a webcam video) of lying on loan applications and committing felony mortgage fraud, Serin has not yet been arrested for these crimes — although IP logs of the visitors to his blog have shown that the blog has been accessed by the FBI, the IRS, the SEC, various state governments, and banks from which his fraudulent loans were obtained. Various readers of the blog, angry at Serin’s complete inaction, have attempted to alert the relevant authorities to Serin’s blog. In early 2007, Serin started up two further real estate websites: ablebuyer.com and buyingapartmentbuildings.com, though the second address now directs visitors to the first.
Criticism
Serin is regularly criticized on both his blog and other blogs specifically devoted to his story. A number of specific criticisms that have been leveled at Serin include:
* Disdain for standard university education in lieu of real estate guru seminars, for which Serin spent over $30,000, including training at [NRU].
I have nothing against standard college education. Colleges teach you how to be a good employee. Nothing wrong with that because everybody needs to have a job for stability at some point in their lives. Going to college will make you more employable and you will make more money. But a job will not make you truly financially independent.
I decided to go straight for the business owner / entrepreneur / investor route and those skills are not typically acquired through college (though college can help with some aspects of it). I still have a desire to go to college someday but do it purely for personal growth and for the benefits of a well-rounded education. That would be after I become financially independent.
Even though I don’t regret the path I’ve taken I would recommend to all high school students to still go to college first, even if they want to be financially free. Just don’t get too brainwashed.
By the way, NRU was only about 16K for over 30 classes and 2 years of education (a bargain compared to seminar companies). It was a private loan with flexible repayment terms which include the ability repay the loan by working it off. NRU is much more than just some fly-by-night guru seminar. They are the only real estate investing educational company to receive college credit recommendation by the American Counsel of Education (ACE). They also have local communities of investors for support, a network of positive cash-flow properties and a bunch of other benefits. And no, this blog is not some cover-up to market NRU. Again, the critics and blowing things out of proportion.
* Not looking for full-time work, rather than living off his over-extended credit cards.
Why is full-time work considered the standard? I do work full-time on my own projects as a self-employed individual and do make some money there and here - technical consulting, online marketing, sales, helping other investors do deals, etc. Just because those are not traditional jobs doesn’t mean it’s wrong. Yes, what I’m doing right now is not super stable and I have/am considering a standard W2. We’ll see.
While I did continue to borrow some money AFTER facing foreclosure and starting this blog, it has been limited to trying to float my wife’ credit cards and also short term loans for business purposes. We haven’t been going into any more debt for living expenses much.
* Not declaring bankruptcy — however, a bankruptcy attorney told Serin that he may be prosecuted for fraud if he files for bankruptcy.
That is one consideration but there are a lot of other issues with bankruptcy. See my explanation above and my prior posts about bankruptcy.
* Living beyond his means — Serin’s bank statements posted to his blog showed expenses relating to dining out regularly, incurring repeated overdraft fees in the process.
How can you assume a pattern from one instance of an event? I don’t overdraft my checking account on a regular basis and I rarely go out to eat to nice places. But even if I do enjoy an occasional wheatgrass shot at Jamba Juice, soy latte at Starbucks, naturally-raised carnitas burrito at Chipotle, semi-healthy burger at In-n-Out or my new favorite whole-grain pasta with artichoke and grilled salmon at Macaroni Grill. Just because I’m facing foreclosure doesn’t mean I should stop living a normal life!
* Being evasive about how he spends each day, given that he doesn’t work.
I have a lot of projects that I’m working on and I don’t want to talk about it too much because the hat… er… critics are following my every move and are ready to dish out hate on everything I do. I have a right to privacy and just because I share a lot on my blog doesn’t mean I have to share every single thing I do.
* Attempting to use unethical and/or illegal methods (i.e., shell corporation) to get out of debt.
I already addressed this and if done right, there is nothing wrong with my corporate strategy.
* Serin’s determination to continue as a real estate investor despite his current abject failure in that field.
Failure is part of success. Show me one successful person that has not failed a bunch of times (big or small). Failure is how we learn. Failure is good. The goal, of course, is to minimize failure by learning from it and not repeating the same mistake. I’m still learning that part.
Determination to succeed is the key ingredient of those who succeed. But I don’t need to explain this. It’s common sense. Those of you who are telling me I’m a failure because I happen to make a mistake are a bunch of babies. Grow up!!
Completely ignoring his current bills, and looking for more credit lines with subprime lenders like CashCall.
This is inaccurate. I am paying my personal bills and rent. I am NOT paying credit cards and mortgages because I can’t handle the debt load at this point. And NO, I am not getting any more personal credit from CashCall or any other company. Some people love to spread false rumors.
* Serin’s refusal to live in any of the houses he purchased, possibly delaying the foreclosure process.
How is me living in the houses going to delay the foreclosure process? I’m not living in the houses because I’m trying to sell them and marketing a vacant house makes it sell much faster. Plus, many of the houses are not move-in ready. The bills and maintenance is higher in a house rather then renting a room like we’re doing now. And its a waste of time and money moving around only to have to move again in a couple of months because I lost the house to foreclosure.
Serin’s personal eccentricities: his habitually unkempt haircut, his carrying a purse, and his obsession with juicing.
Why are you attacking my style and health choices? It’s not a purse. It’s a MAN bag. Big difference.
Inability to reconcile his purported Christian faith with his actions, particularly his mooching off his family and in-laws.
I’m not mooching off anybody. I’m paying rent for the rooms and my family willingly helps me with food from time to time. I’m in a time of distress and am blessed to have such great family support.
In addition, more than one website has arisen whose main focus is following Serin’s postings and actions in a critical manner. Serin has referred to these sites as “hater sites”.
That’s right. Haters!
Personal Life
Casey Konstantin Serin is married to […]. His wife does not participate in the blog or other publicity, although publicly-available documents filed with various county offices indicate that she participated in some of the financial deals. In addition, Serin has photographically documented his wife playing a part in some of the alleged rehabilitation of the properties. They currently live with Serin’s sister-in-law in West Sacramento, California.
It’s very obvious that my wife doesn’t want to be mentioned online. Why are some people so determined to violate her privacy by posting her name everywhere? I took down pictures of her shortly after I started the blog per her request. The haters have saved cached versions of the pictures and spread them all over the internet. That’s just not right.
The public record has her name because in order to hold California property in just my name as a married man I must have my wife deed her interest in the property to me upon purchase. It’s a standard procedure and if you know nothing about real estate don’t spread false rumors.
She was involved with my business to a degree. She went with me to some of the seminars and helped me do some of the account and administrative work. She also tried supervising contractors one time but that didn’t work out very well. She was not on any of the loans except for the one in Dallas where the lender insisted to have both of us on there. Aside from that this whole real estate thing has been pretty much my baby.
Themes and Catch PhrasesSerin is very fond of using catchphrases and buzzwords on his blog, perhaps as a by-product of his preference for get-rich-quick gurus over conventional education. He frequently talks about finding “sweet deals”, “repaying every dirty penny”, and “falling forward”. These phrases are often mentioned sarcastically in his blog’s comments, generally mocking Serin’s exuberant optimism. Serin also likes to end postings with a cheerful “It’s all good!”, even at the end of a post that otherwise describes a situation of utter financial ruin.
There are also numerous references to Jamba Juice and Macaroni Grill on his blog, which stem from a post on November 21, 2006, in which Serin reproduced, but later withdrew, a photo of a recent bank statement. His blog’s readers immediately spotted that despite his dire financial predicament, he was still a regular customer at these establishments. With almost no money in his checking account, Serin had incurred numerous overdraft charges, and had essentially been paying upwards of $38 for a drink that normally cost less than $5. Since then, the names of these two restaurants are repeatedly cited in attached comments — usually with the intention of symbolizing examples of luxuries that Serin cannot realistically afford, but to which he nonetheless feels entitled.
I’ve already explained the Macaroni grill and Jamba Juice. As far as “catch phrases”, those are part of my regular speech. I write this blog in a conversational style. I’m not trolling, just being real.
…
As you can see my Wikipedia entry is filled with highly biased opinions, inacruate information, and assumptions. This is hurting my reputation and I consider it libelous. I love Wikipedia but we need to do our part to keep it fair and balanced. Don’t just read, jump in and edit.
----
The sh!thead wants FAIR?
136 comments:
Foist!
TK is gonna be pissed for you screwing up a trifecta.
Cupcake obviously thinks that all of his ardent supporters will run right over to wiki and straighten things out. The problem is that he really has none, at least not on the internets. 99% of the comments on his blog are 'hatin on him. Filling Casey's wiki full of lies is too big a job for even an assclown like Nigel.
"TK is gonna be pissed for you screwing up a trifecta."
I am a bad bad girl, heehee
99% of the comments on his blog are 'hatin on him.
99% of those he lets through are haterz™. It was a long time ago, October I think, when he left moderation off for two hours. Hundreds of the basest most vile posts. Even I was taken aback. We Haterz™ are only a small segment, those who can remain detached and mature about Casey and his trail of tears. There's a much much larger group out there that wants his head on a pike outside the courthouse.
As the originator and author of much of the 'Themes and Catchphrases' section, I'd just like to affirm that I'm not about to retract a word.
(Not least because even Casey struggled to find any inaccuracies in what I wrote!)
Oh I remember that, he turned it off during his "fast".
His last paragraph is the most telling: Libelous? Hurting his reputation?
A 'reputation' is something that you earn. And Casey has earned his.
All this year, Casey has used his 'Blog to 'spin-doctor' that he's actually trying to do something. Of course he's upset that the wiki article fairly shoots that down.
I found his post today to be absolutely hilarious.
I already ripped him one step by step, if he posts it
This is hurting my reputation and I consider it libelous.
Sweet jeezus give me a break. What reputation? Lets just start at the beginning where he tried his Ponzi Scheme on people or the letter to his friends promising astronomical returns when he was already in financial ruin. REPUTATION!???
I'd posit that Wikipedia doesn't tell one tenth of what a low down lying snake this kid is, and all the rotten things he's done to people over his short life.
No way is he rewriting history now. Snowflake has a reality perception problem, and reality is about to bite big.
Even his trolling has a tinge of desperation in it at this point. I hope the squeeze is long slow and painful.
Wikipedia should be updated. I did not see any reference to Prlinkbiz, guaranteed 24% interest, MLM, or chain letters.
Casey,
SUE ME FOR LIBEL. I DARE YOU.
Discovery will be absolutely HELL for you, I GUARANTEE IT. I will bury you with subpeonas for EVERY record of you, Galina, Aleksey, Anna, Nigel, Chris, Duane, Able Buyer, Finch, and every bank statement, tax return, loan application, for all parties- and I will get them. You see snowflake, you are a boy living in a grown up's world. You toss around words but you have no understanding as to the gravity of them. Libel? look up the definition.
YOU are a criminal, a con artist, a liar, a cheat, and should be in jail.
There, now sue me for libel. Subpeona the IP records. I DARE YOU. You want a war? Be prepared for the consequences.
I just wanted to mention that something is wrong on your site when viewing comments with IE, although I had no problems once I loaded Firefox.
Just because I’m facing foreclosure doesn’t mean I should stop living a normal life!
Racking up $180K+ in credit card bills and a potential $400K IRS exposure in a little over a year is living a normal life!???
He could have funded an Ivy League education and lived off of what's left for 5yrs easy. Normal life my a$$.
Why in the HELL hasn't law enforcement stopped this guy yet????
Casey needs to be arrested NOW!
This is hurting my reputation and I consider it libelous. Mr. Serin, be very very careful using words you do not understand. Libel would involve 'discovery.' Do you know what happens in discovery? You don't else you would never use the word. You may think that at this point 'what would it hurt?' There's lots left to be hurt if you start blustering. Right now the implosion is mostly selfcontained. Should you choose to escalate, people around you could be engulfed as well. Good job diverting attention from the multiple Cashcall accounts questions.
Oh, the little moron has crossed the line.
I love how he attempts to rebut the Wiki entry by... proving each and every point.
Yes, stupid, being broke means you don't get to eat out or drink fucking $4 coffees. I'm NOT broke and I don't regularly drink $4 coffees. Know why? Because that's a lot of money on something that is a completely unneccessary luxury.
Why is full-time work considered the standard?
Let's work slowly, Casey. BECAUSE YOU HAVE NO MONEY. You, in fact, owe a lot of money. And yet, you have none. The world outside your head understands that the primary solution to that dilema would be to attempt to earn as much as possible to attempt to offset the debt. Only in Caseyworld is borrowing the primary mode of attaining income.
I would recommend to all high school students to still go to college first, even if they want to be financially free. Just don’t get too brainwashed.
Brainwashed? With... education? With the idea of learning things? Brainwashed with the idea of doing research? Brainwashed with the idea that other people are smarter than you and it might be a good idea to listen? Heaven forfend.
I do enjoy how he rebuts the whole 'he lied repeatedly' portion of the entry by claiming he thought it was ok to lie. Which you'd think after all these months he'd have recognized is not a response to that charge, but smart he is not.
And I did laugh for minutes over his new mantra - It’s not a purse. It’s a MAN bag. Big difference.
Oh, and Rob Dawg - I've been getting wicked truncation for days too, I saw someone posted but you said you couldn't replicate it; he's not the only one.
I am so pissed I can hardly contain myself. He NEVER disputes the main issues! It will be interesting when he starts letting the comments through. This kid has no idea what the repercussions of this post are.
I think we all have some choice edits for wikipedia. Well, you heard the man, let's get to work!
He appears to believe that his online persona is more important than his financial situation.
QUite frankly I cannot imagine Casey putting all that time and effort into writing a rebuttal to his wiki entry.
I think someone called this earlier - this is an attempt to deflect attention from other issues (re: missing Utah payment, multiple CashCall loans, etc.)
Having written the meat of the wiki article (I'm IP 68.161.**.**), I'm extremely pleased. Muahahaha :-)
Benoit™
The best part is, he had very little to say - it IS a truthful piece. It just reads as a damning article and he can't take that. He doesn't dispute (well he does dispute and then admits to it) that he's a liar.
-He still admits he lied about his intent to live in the houses
-He still admits he bought the houses in extremely short order
-He still admits he took a no doc because his income wasn't up to scratch
-He still admits he took over the allowable percentage of cash back
-He still admits he broke the law and chalks it up to "inexperience"
-He still admits that the idea of a full time job is out of the question because somehow sporadic pay works for him, and well he doesn't have to pay his bills because "his debt load is too big".
Basically he did a lot of work for NOTHING!
And YES CASEY it is OBVIOUS to all of us that you don't like Galina being involved but TFB jerkoff. You opened the door, now don't complain that we all walked in and won't leave.
At the time of writing, there are eighteen checkable references attached to the Wikipedia article - one of the things that's helped keep it live.
So can anyone thinking of making any changes make sure they're equally well referenced? In this case, you really can't have enough citations!
2 comments.
1. If you are having problems with Internet Explorer, going to tools -> Internet Options and then pressing OK will allow you to scroll down to the comments.
2. Casey has done it again. The blog was getting boring and he has managed to get me worked up again
The only thing in that post that was truthful was that some Wikipedia entries are not up to encyclopedia standards (or something similar to that). Hell, that's a problem with a lot of stuff on the net. And the reverse side of that coin is that one can't take back what they've posted on the net.
If he wants some sort of correction made, just put up a link to his rebuttal post.
I'll admit, this kid does have a way with getting us riled up.
FWIW, I posted under Blogger Two'fer Note yesterday that I regretted kicking Casey when he is down and that while I was joining the "Hater Party" I really could not enjoy watching so many people 'kick Casey when he is down' even if it is well deserved.
With this last post I have ZERO sympathy left for Snowflake. Any sort of "hate" that anyone wants to inflict on this narcisistic inept criminal is well deserved. Just when you don't think the Casey saga can't get more pathetic it does
Casey's middle name isn't really a middle name, and it is presumably "Konstantinovich", not "Konstantin". "Middle" names in Russian are derived from the father's first name.
I have been getting truncation as well. This must be punished.
I deleted some hanging code in the sidebar html code. Hopefully things will improve.
Now for laugh out loud stuff:
http://www.encyclopediadramatica.com/index.php/Fucktard
Sound familiar?
I noticed that the below does not appear in the wiki entry.
http://tinyurl.com/244ema
From his very first post on IAFF
"Since it’s all out in the open, I might as well keep blogging"
"It’s very obvious that my wife doesn’t want to be mentioned online. Why are some people so determined to violate her privacy by posting her name everywhere? I took down pictures of her shortly after I started the blog per her request. The haters have saved cached versions of the pictures and spread them all over the internet. That’s just not right."
He has made several other references to the fact that once something is on the internet it can't be taken back. If it's so important to keep her Galina's name secret, he never should have posted information in the first place.
It's "just not right" that YOU, Casey, exposed her identity in the first place. If you want to place blame on someone for "outing" her, try looking in the F.ing mirror you hypocrite.
Oh, and it's still a murse
With respect to Casey's "libel" threat, my business law professor used to say that the best defense against libel was if the original claim was true. Just because something makes you look bad doesn't make it libel--especially if it's true.
But I for one am getting rather tired of the Primitive Caveman Lawyer-esque approach, where Casey pretends that he's just naive and inexperienced one minute ("your flying machines frighten me, and I had no idea lying on stated-income loans was against the law") while revealing at least some in-depth knowledge of the law the next (e.g. his detailed discussion of why he couldn't go into bankruptcy.)
I've been slowly migrating from the train-wreck watchers camp to the Haterz(tm) camp, and this is one more step on that path.
I am sure that John Wayne Gacy did not wish to be a public figure either, but he became one.
The should have sued for something before they stuck the needle in. LOL
I'm not a wiki guru but I posted a notice in the 'discussion' section of his bio alerting people that there may be a flood of changes coming down the pike. With any luck the page will get tagged for closer monitoring.
I think the Wikipedia entry needs a new section entitled "Attitudes towards the law" or something similar.
This could be a handy summation of his selective attitude towards legal documents, whether signing those loan agreements in the first place or his deals with PRLinkBiz etc.
I don't have time to write anything today, but anyone else is welcome to have a go - and make sure that every single claim is thoroughly referenced so that he can't touch you.
@Rob Dawg
I think calling Casey a Fucktard is kind of insulting to other Fucktards.
Snowflake:
"And NO, I am not getting any more personal credit from CashCall or any other company. Some people love to spread false rumors."
Artfully worded, droog. The "rumors" (which seem pretty plausible, given the tests on the CashCall web page), is that Galina and possibly others have also been taking out loans from CashCall - we never said that **you** were getting more money from CashCall.
Where is the discussion part on his entry?
With the subprime meltdown, I have a feeling that a lot more people (casey) will be getting a lot more attention. He was a small part in our economy being f'd up and played a small, but vital role in a lot of subprime lenders going out of business. He will be punished, it's a matter of time.
I would get my passport ASAP and take the Jetta (sweet) across the border.Either one, pick one and run.
Casey got off easy... obviously it's not encyclopedic, but imagine if someone wrote about his alleged sexual preferences. heh.
Way back when, I did the next best things -- adding him to the "American Fraudsters" category, and having a redirect to his page when you search for "Galina Serin". :-D
Thanks Dawg! Truncation is now a thing of the past!
My personal favorite from the entire pile of steaming shit:
"I didn’t want to sight up for something I can’t commit. "
It comes down to this, Casey:
Stop crying about critics. You opened up your life for criticism. You displayed your failures, your creative borrowing, your admitted lies, your personal hideous decisions--everything to the world. Not just to your blog, that wasn't enough, no, you took it to the national media, and sat there, again and again, with your moping attitude, recounting your woes to the world. Boo freakin' Hoo.
You tell one story, and then after having some time to think on it a bit, you change your story so that it doesn't implicate you quite so badly.
You've shown yourself to be idle, prone to avoidance, deluded, dense and defensive. You expect people to praise you for this? You expect encouragement while you waste money on luxuries when you can't afford to make your credit card payments? You show absolutely NO intent to even TRY to pay your bills, and have instead decided to leave them hanging and to let events unfold as they will. And then you have the audacity to come to the blog and complain when things are falling down--and then cry because there's a universal anger in all your responses. WHAT DO YOU F*CKING EXPECT????
Again and again, I've told you that you have NO right to play the victim here, Casey. EVERYTHING THAT IS HAPPENING TO YOU IS A DIRECT RESULT OF YOUR ACTIONS--You can blame whatever or whomever you like, but you put yourself where you are. You EARNED the criticism--no, correction, you INVITED it.
You are a whining, blubbering child, who has NO business trying to be an entrepreneur when you've proven yourself too immature to handle even rudimentary financial decisions; like perhaps not taking out more loans when you're already in the hole more than the net worth of a small third-world country, and persisting in spending money YOU DON'T HAVE on over-expensive CRAP like dining and other luxuries. "I may be in debt up to my eyeballs, and facing possible litigation, but a boy can't live without a little cush in his life. Bring on the wheatgrass shot; let's go to the Macaroni Grill!"
You sit there and justify everything you've done; it does not absolve you of your obligations, and you will pay for them no matter how you paint it, Casey. It's not the haters' fault, it's not the banks' fault, it's not the bubble's fault. It's YOURS. PERIOD.
You are a ridiculous, whining CHILD.
Also, Jeeeez.
Pure Casey - his finances are in ruins, he is about to lose his last remaining assets, and what is he doing - obsessing over his Wikipedia entry. Somehow one thinks that this is going to be the least of his problems. I guess dealing with this and doing whatever else he does all day is better than having to grudgingly think about getting one of those awful "W-2" jobs (one suspects that the W-2 is part of the problem - what sort of idiot would have a job that you actually had to pay taxes on? You **are** reporting all your income from your little side jobs to the IRS, aren't you, Casey?).
I guess the Magic Real Estate Fairy isn't going to wave his magic wand and fix everything if the M.R.E.F. reads Casey's Wikipedia entry first...
Benoit™,
I added a link to his latest post under criticism: "On March 14, 2007, Serin asked his supporters to rewrite this Wikipedia article because he felt it was too negative towards him." It should probably go under another section. And I agree with the others who have noted that the article could be a lot more negative than it is--the Ponzi scheme, the 24% guaranteed return, more mentions of Galina, etc.
Powerful, StephJ.
You might email him that one personally. He'll pretend to ignore it, but it will sting.
Casey appears to contradict himself about his employment situation. In the beginning, he claims: "I was employed at Pride Industries for over a year (Since Aug 2005) ... when I applied for the Calla Way, Sacramento house in October 2006."
Yet a couple paragraphs down, he writes: "In early January 2006 I took a 3 week leave of absence from my job at Pride Industries ... and ended up resigning from my job the same week and (end of January 2006) to pursue real estate investing/flipping full time."
... So he quit his job in January 2006, but was purportedly still employed there through October 2006??? HUH?!?
CALL HIM ON IT, HATERS™ :-D
ultimately, what matters will be what 12 of casey's peers think...
...I feel sorry for his defense attorney. If I were Homey, I would simply give the jury a copy of Casey's posts to IAFF, and rest my case...
As I pointed out before, I doubt Casey will ever go to trial. If he does, it will happen if the public demands a scapegoat. Thousands of white collar crimes of a greater magnitude than anything Casey ever did are committed every day and nothing is done.
BTW: is Homey's profession obvious to everyone?
segfault, nice... heh. It's fine in the "Criticism" section. Does anyone know how to semi-protect a Wikipedia page. There's already been a bunch of attempted vandalism of the Casey article since Gayflake™ posted this.
His rebuttal of the article is laughable, in general. More fodder for the jury, I guess.
Steph J you rock and you put it so well!
Colleges teach you how to be a good employee.
Yeah, college had *nothing* to do with my increasing book sales and burgeoning publishng business. Some people work because they *like* to have a purpose, and not spend all day in bed.
College did nothing for my brother, who owns a hugely successful architechure firm which he founded.
It did nothing for my sister; who earns in excess of $140,000 a year as an environmental scientist--doing something she totally loves.
MIT really did damage to my father's life--that's why he fought tooth and nail to earn a place in this country and in that school; so he could be an employee. What a big mistake *he* made.
Yeah... whatever it takes to make you feel better about your inadequacies, you little idiot.
God, I hate that little bastard. I have truly become a hater.
[I think we are headed to a 200+ replies post. Oh, and i added unique visitors to the sitemeter bug, over 100k.]
BTW: is Homey's profession obvious to everyone?
You mean: Homey D.A. Clown? It was obvious to me from the first. It never occured to me that others didn't get the joke.
What's really sad about Casey is that he truly believes in these stereotypes - people go to college to learn how to be a good employee, people with full-time jobs are virtual slaves shackled to their cubicles, and so on.
The concept that some of us might have taken a degree out of intellectual curiosity, or that some of us genuinely love our jobs (my wife often says it's just as well mine pays as it's obvious I'd happily do it for nothing) is completely alien to him.
Which is partly why he's in his present mess.
OK, good, at one time, people on IAFF were wondering what that most noble of clowns did for a living.
I wondered whether they were dense or maybe there was something I did not get.
I think Casey WILL be prosecuted simply because he has made himself a public figure and people are beginning to scream about it. No telling how many emails and letters have been sent to authorities. If he gets off, you better believe the screaming will be even louder. How would you like to be the elected district attorney who let this punk off?
@Miguel
I think you can ratchet your point up a couple of notches. He thinks people that work are saps. It is what all con men think, and why they continue to do what they do. Up until now he's had nothing in his personal experience to challenge that point of view. But now the worm has turned. He's trying to subtlely wiggle out of being responsible for his actions. Stephanie J did a good job of putting the blame back on him.
Notice in his long whining post how he continually blames "professionals" he was working with, Real Estate people who misguided him or how it was accepted practice etc etc etc. No sh*t sherlock!! You hang out with half baked neer-do-wells and that's the kind of advice you get. That's why you go to school (a real school), get a job and learn by experience, and do it the right way. He was Jamba Juicin' it like a MoFo while times were good. Now it's all about how he was misinformed. That dog ain't going to hunt.
He knew what was going on all the time. He thought he was being clever by half and gaming the system. You don't do Ponzi Schemes and screw your friends starting at age 14 and then at 24 claim wide-eyed innocence. He's be scamming for 10yrs and he'll keep on doing it. All one can hope is that LE slaps him hard enough to make it more difficult for him to do it again.
Sweetie Pie must have been "zinged" on some deal--someone googled his stupid behind and found the Wiki article, I think, and turned him down for something. And this is his way of "fighting back"--to get the entry so clouded by haters and fans alike that it gets taken down, or mired in dispute. What a disgusting little drip he is. BTW, no further mention of his "hard money" partner. You think he's blown that relationship to shreds? (I still think there was no "g" in the first place, but it's interesting to speculate...)
Interesting that he's now naming Nouveau Riche University, after doggedly (and unsuccessfully) keeping it unnamed for so long.
Has something changed? (With Chris?) Or has he finally realized that the cat is long since out of the bag?
@ Rob
http://www.encyclopediadramatica.com/index.php/Fucktard
NICE CATCH! Can we get a snapshot of our favorit fucktard up there?
Man, that little dingleberry just gives me heartburn. I think about what it would like to have a child like him; and I actually feel pity for his ghoulish mother. But then I realize that it's probably them who are currently supporting him and enabling this little game he plays.
This newest post just chaps my ass.
What an ass.
I've said it before, and I'll say it again; someone needs to give Casey a big freakin' cross so he can drag it around wherever he goes.
I notice that now that Snowflake no longer is an Early Riser™, his cable modem now functions flawlessly.
"At 9:28 AM, Katie said...
Sweetie Pie must have been "zinged" on some deal--someone googled his stupid behind and found the Wiki article, I think, and turned him down for something"
Katie - that sounds right. Casey can't "do deals" with anybody who has enough sense to Google him. So, the key is to rewrite things so po' little Casey can continue to defraud people. (After all, he's in "lender-ignore" mode.)
The joke, of course, is that the only people who were ever willing to do deals with Casey are bigger and smarter grifters than he is (ever notice that the "real estate professionals" he is now blaming for his troubles all got paid - it was only Casey who was left holding the bag).
I think we can sum up Casey's character with one action or rather one non-action. The missing payment on the Utah wrap. If you add up all the Jamba Juicies and Macaroni Grill dinners and Christmas presents, V-day gifts and etc, you would have the missing payment.
Casey spent more time on that stupid post than he has tracking down a payment that was 100% his mistake. Remember he forgot to tell the escrow company that the loan had been sold.
He takes no responsibility and is actually costing the wrapper money. The bank is putting on late fees and other charges on the missing payment. Someone with true integrity and true sense of business would have made sure any pain suffered was on his dime and his time.
My two cents
"You mean: Homey D.A. Clown? It was obvious to me from the first. It never occured to me that others didn't get the joke."
Rob Dawg, i've been lurking here for months now following this story but you have literally blown my world apart with that comment! I guess he has to be a GOP DA though, as all the dems seem to have been mysteriously sacked :) Honestly, as a brit living here i cannot believe the level of corruption in this country, and that's saying something after living with Tony's cronies for ten years.
Back to Casey though, so strange to think there was a time when i actually felt sorry for him - e.g. the prlinkbiz thing really seemed like a couple of manipulative bitches out to screw him (who knows the real truth though).
As his whole story played out i gradually lost all sympathy, to the point now where i think he is beyond all hope of becoming a decent member of the human race. The saddest thing is that he will probably not serve a single days bird for all his crimes. Still, if you can't even impeach Bush for war crimes etc. why bother with small fry like snowflake?
I find the most interesting character in this farce to be Nigel though. I cannot for the life of me work out either his or Casey's motivation for the relationship and that really bugs me. Maybve it's as simple as "birds of a feather flock together", since they both appear to be amoral shits.
Food for thought anyway. Good blog btw
AN
@lawnmower man
I think the change is that he's now inching over into playing the blame card. He's going to be pointing the finger at all the people who gave him bad advice. The heat is on, facts are facts, and he's got some real issues to worry about. Also, like katie said, he probably got zinged and lost out on a relationship.
Anyone doing an ounce of due diligence would run from this child posing as a business person. His blog, in reference to bringing further deals, will only attract parasites and scam artists like himself. A complete jackass would understand that, and so does he, and that is why he doesn't mind. Any kind of deal for a scam artist, is better than no deal at all.
I did run each each loan as an “owner occupied property” or as a “second home” in order to qualify for 100% financing. I didn’t have any other properties at the time and I was buying all of them so fast that the credit report didn’t show all the other loans right away. This allowed me to justify the owner-occupied or second-home status. At the time this seemed OK to me and the professionals I was working with.
This is the part that galls me; it is clearly fraudulent activity, and he knows it.
@AN
I too began in September with a sense of sympathy for Casey and more for his wife Galina; but with each passing post, and all the increased evidence of the magnitude of his stupidty (as well as G's)... My sympathy turned to ire, and after today; when I saw his whine-fest about being criticized on Wikipedia; the switch is finally flipped, and any lingering sense of empathy or kindness I had felt(even through the PRlinkbiz situation when those women went haywire for being exposed for the skanks that they were), is gone with the wind.
I now see Casey as a complete waste of space--and I will stick around until I see some sort of justice imposed on him; be it with our warped legal system, or by natural selection.
Good that you copied it here, dawg, because Casey's started editing the post already.
(Look at the "I was employed at Pride Industries for over a year" sentence -- there's more changes there than the strikethru suggests.)
I'll bet Cashcall was the one to google him. Didn't he say his friend tell them to look for his story on the net when they called him?
about Homey D.A.: I didn't know fo sho until he posted about the DUI manslaughter case... this is the interweb; I may be a hand puppet for all you know.
you know, I was thinking between IAFF and this site, the cast of characters could make a semi-interesting comedy.
If written correctly. Cohen brothers perhaps?
Then again, the truth here is probably stranger than fiction.
Wow. You folks have been busy.
@ Rob Dawg:
If you get a chance & have nothing better to do, it might be worth marking up the block quotations in your post as such, like they are on the original. It would make the whole thing quite a bit easier to read.
BTW, when I visit IAFF.com my browser locks up for a good minute or so while loading external images and scripts.
I will be watching the history of that Wikipedia article with some interest.
@ogg
There is something wrong with his code at IAFF. Past couple of days I have been getting a
"Windows Media Player" error, indicating that the "plug-in performed an illegal operation" ...
I use FireFox
Rob - here's the one I will take on:
I came back to my job and found myself so busy managing all these deals that it was starting to affect my programming job performance in a big way. I didn’t feel it was fair to my employer to be doing my business on company time. So I ended up resigning from my job the same week and (end of January 2006) to pursue real estate investing/flipping full time.
That right there should tell you, ya ain't got what it takes kid.
I have more properties than Casey spread out over several states and have them all actively managed by myself or others. Even those with managers see a fair bit of "hands-on" from me. That includes renovations, painting between tenants to save a few thousand dollars,setting up the next deal...you know, typical investor/flipper stuff. And - gasp - I also manage to hold a regular job, one with responsibilities that mean I easily put in 10-12 days most of the month. Plus I still managed to fit in a few fun trips in the US & Europe.
What sort of "deals" was Casey doing that he couldn't work around a 9-5?! Was he actively renovating? No. Was he actively marketing? Uh, no. Was he playing the life of "big spender?" Yes.
And that's what this really comes down to , doesn't it? It's nice the kid has dreams & aspirations but he has no drive, experience or education to back it up. IN other words, a couple of kids playing grown-up with their Myspace network & getting targeted by other "me & now" losers like the Swab.
Hey Rot26 @10:13
I'm glad you reposted that paragraph as my eyes had glided over it previously. That SOB justifies listing each house as owner-occupied on the grounds that he did it in a way that they couldn't catch him on it. F^%$! I think from now on I'll mutter the words "Goodbye Casey" when I wipe my butt in the morning.
NR
Ogg, The paste "resisted" my efforts to include styles. I was too lazy after a couple tries and thought getting it up was more important than getting it perfect. Lashes self with wet noodle, promises to do better when time permits.
There is something wrong with his code at IAFF. Past couple of days I have been getting a
"Windows Media Player" error, indicating that the "plug-in performed an illegal operation" ...
I use FireFox
I use Safari on a Mac, and I've been getting something similar.
I got a few paragraphs into his newest entry and fired off a post over there as my blood pressure shot up before I realized that this is what he enjoys... the attention. Then I closed that window and I refuse to go back there for at least a few days because it makes me want to drive up north and strangle him with his own murse.
I'm also using Firefox, for the most part. Opera with Javascript disables seems to handle IAFF just fine.
@rot26:
Don't you know that rot52 is much more secure? It's twice the encryption!
"Interesting that he's now naming Nouveau Riche University"
Not any more: edited out now.
I'm running "Noscript", which probably helps the situation.
BTW, my cousin rot47 may show up on IAFF, rot13 is on vacation
Think Nouveau Riche pays him a retainer to remain silent about having attended or even knowing of them?
"Interesting that he's now naming Nouveau Riche University"
Not any more: edited out now.
Gee, ya think he's hanging on our every word?
Wasn't man-bag a term used By Joseph Tribbiani of Friends fame to explain his murse?
OK, someone's started editing out unsourced material - which is completely in line with Wikipedia policy, and hard to argue with.
But the happier news is that the number of references has gone up from 18 to 20 in the past hour!
Casey implied that he only lied about his income buy a small amount, but according to industry standards he would have to be making around $132,000 to qualify for a $330,000 mortage. So he more than doubled his income.
I am certain Mr. Never-Leave-Your-Buddy's-Behind has his own special edits to add. Why doesn't somebody start a Nigel Swaby Wiki entry?
OK, I'll bite on another sentence:
The truth is I was a bit desperate to sell Calla Way because I didn’t want to start making payments on it and I knew the market was starting to reverse so I had to act quickly and make the deal work.
"Didn't want to make payments" is, of course, code for "couldn't afford to make payments".
So, right from the very first deal of this spree, Casey was buying houses with no intent or ability to pay the loans. His big gamble was that he'd be able to avoid paying any of the carrying costs by selling fast.
But yet he also knew that "the market was starting to reverse". This is his local market, the one he *should* know best -- but instead of selling outright he does the bizarre Burdett swap, buying a crappier property in a crappier area in a crapping-out market.
The out-of-state purchases could charitably be chalked up to ignorance and performance-chasing. But on Burdett he clearly knew better but went for it anyway.
The whole story is one of greed, poor judgement, and self-delusion. He still believes he has well-honed and hard-acquired dealmaking skills; he still doesn't see that, in just about every deal he's made, he's ended up being the biggest fool.
I love seeing little snowflake all riled up. But in typical snowflake fashion. It took him how long to figure out the information in wikipedia?
I also love the fact that even though he's facing foreclosure on all these properties. He still thinks he deserves a normal life.
Or when snowflake tries to justify his lifestyle of paying for $38 Jamba Juice by saying that you can't assume a pattern from one instance of an event....Ohhhhh my GOD!!!! I thought I counted around 6 or 7 overdraft fees in that month. That's more than what I can accumulate during 6 lifetimes.
Snowflake is awesome...As much he riles me up. I take a deep breath and realize. This boy is classic. There is no way in hell you can make stuff like this up. Come on. Remember when he budgeted tithing as an expense. And what about the Vegan with ocassional In N' Out. And he complains how he wants his privacy yet he keeps blogging. You just can't make this stuff up.
Come on guys...As much as this sh!thead pisses us off. You gotta admit that he has given us a lot of cheap entertainment.
::breath in--breath out::
You're right, CISG...
You're right. I forgot all the reasons why I went to IAFF to begin with. Because it made me laugh.
That little 'one event' is a microcosm for Casey's entire 'adult' life. You need only read a few of his posts, and look at his spreadsheets to see exactly how he operates. Irresponsibly, selfishly and impulsively.
Cashcall Auto-withdraw *RETURNED
Why? The kneejerk withdrawal of his 'hard-earned' cash to keep Wells Fargo from 'stealing' it from him--despite knowing there were outstanding payments pending on the account.
FYI,
You all know that CS is as smart as a fox. He is purposely making you edit his Wikipedia page, knowing that their policy is to lock down a page if there are too many edits. They will also remove most of the negative entries.
HE knows this. Criminal he is, stupid he is NOT.
Do not let his created persona of a naive, 24 year old victim fool you. He is a cold, calculated, life long criminal. He's most likely buried over $200,000 in illegal cash back money in coffee cans. He has attempted to explain away EVERYTHING else, EXCEPT the whereabouts of what is estimated between $200,000 to $300,000 he and Galina fraudulently obtained. That is why he could care less about the actual houses, he's already made his money. The blog, and all of the other side shows are smoke screens and distractions to keep your attention away from the main issue.
How do you think he can afford to fly out to Utah, spend $16,000 on NRU, etc???
FROM THE MONEY HE AND GALINA STOLE AT CLOSING!!!!!!
CS does NOTHING without a purpose behind it. Remember that. Always. Keep your focus on the MONEY. Keep asking where is the MONEY.
Incidentally, local radio station KGO-AM did an hour of talk this morning on the subprime mortgage meltdown. The majority of callers were either FBs on the brink of losing their homes, or outraged RE professionals calling in to complain that although some loan officers / appraisers / etc were dishonest, they themselves were squeaky clean & resented being tarred with the same brush.
Interestingly, at one point the host read an excerpt from an e-mail from a 'Casey' who wrote in to ask if someone could buy a home and add in their outstanding bills to the value of the mortgage. Our snowflake's not local to here so I doubt he was listening in, but it amused me nonetheless.
My opinon.
Casey is stupid by normative measures. Never excelled in school, shows classic learning disability symptoms, lessons don't "stick."
Casey is criminally smart. He exploits the soft spots and attempts to profit. We have "soft spots" because normally they aren't worth hardening.
Most surely he's squirreled away a tiny coffee can someplace but it isn't as big as many imagine. People like him don't plan for worst cases because they don't plan. If he had $20k buried in the backyard he could get another 2 months so no there is no big coffee can, no more than what he [incorrectly] thinks gets him a getaway. $40k could do it but like I said $40k would only make him play a little longer.
FIRST!
Oh, wait. 93rd!!!!
I don't think Casey has a whopping big coffee can of cash squirreled away for the simple fact that he & Galina are too addicted to spending to be able to hang onto money.
It's possible he tried to put one together, but at this stage of the game I would think that any cash he's got stashed away is slowly being drained to pay the bills he absolutely, positively cannot let slide (phone, rent, etc).
Rob Dawg: Casey is criminally smart.
Casey is criminally lucky... he's still free as a bird at present, despite publicly admitting to multiple felonies to hundreds, if not thousands of people. Would anyone here be so audacious as to do the same thing? I think not.
I don't think he's that smart criminally... even I were to attempt the same scheme, it would've been done during 2001 to 2003... failing that (Casey was only 19 then), I'd've waited until the next upswing (2012??). Casey even recognized the market was topping out, yet he still pursued this nonsense.
"It’s not a purse. It’s a MAN bag. Big difference."
Is it just me or is that the funniest thing he's ever written?
I swear, he must not have any brothers or close male friends, because one of them would kick him right in the "man bag" for saying something that stupid.
Steph J,
In some ways you'll always be first. Amazing the interest being generated. Sitemeter is finally catching up after a week of "delayed" reporting. We've added Chris Record and Nigel Swarmy and NRU and many others to our microscope watch. I feel good. I'm already getting ready for the upturn in 18 months or so.
Sprezzatura @ 12:18:
Yep. Money flows through Casey and Galina's hands like water. Even if they had no debts, you could give them $100,000 and it'd disappear within a month.
Anonymous @ 12:22:
Is there an echo in the room?
@12:22 Anonymous.
Casey has a rather hot Marine brother.
ONE HUNDRED!
Slightly more usefully, I've been impressed at the way the Wikipedia editors have been trying to preserve the integrity of the original piece while throwing Casey's supporters a few bones in the form of stuff that's clearly prejudiced and unsupported (no matter how true).
hot marines don't necessarily denote free thinkers . but they dont' need to think, they just need to stand there and guard things.
If yneone starts editing the article, we'll have a hero with Christ-like abilities.
Does anyone else think her constant praise and vacuous emissions are creepy and unsettling?
It won't last, but I love the addition that someone made that was described on the History page as "Enumerated supporters".
But if you have a look at the actual edit...
(heh heh heh)
BTW, what does FB stand for?
By the way, NRU was only about 16K for over 30 classes and 2 years of education (a bargain compared to seminar companies). It was a private loan with flexible repayment terms which include the ability repay the loan by working it off.
Soooo, has anyone questioned this yet? Was his work for Chris (allegedly $3000/mo) for the purposes of a paycheck or to pay off the private loan granted by NRU?
After some cleaning I immediately started marketing Calla Way myself (without an agent) in order to sell it at retail quickly and pay off my loan. I ended up selling the house on January 4th for full retail value (360K+costs) and simultaneously buying the buyer’s old house - Burdett Way, Sacramento. I didn’t want to lose the buyer and didn’t want to wait for their old house to sell so I put the transaction together to where we bought each other’s houses.
So he really traded a decent property for a much dumpier property. He really didn't sell Calla Way, rather he did an exchange at a loss. And why didn't he do a 1031 exchange for the Calla Way/Burdett transaction? Are there restrictions or reasons as to why a 1031 wasn't the method he chose?
@Rob
What's with the sub-p bounce today? Specifically NFI and LEND?
Another question, with both of those stock on the restricted short sale list, how does that affect the ability to short those stocks and what affect does it have for people that are already shorting that stock?
No one has mentioned, but the very beginning of the thing is another giant LIE -
He doesn't want to edit the entry himself, because that'd be biased, or some such nonsense, so ... he wants other people to edit it to his specifications, provided helpfully below. Does he not understand what he's saying?
I'm with Rob, the boy is just flat not smart. I think he's operating somewhere at the low end of normal, not more than one SD off, but ... he is not smart.
Ogg the Caveman said...
BTW, what does FB stand for?
Fucked Buyer/Borrower.
Man bag is a colloquial expression for scrotum. Murse, scrotum, big difference.
Even my favourite unsuccessful entrepeneur, CMOT Dibbler, has a back up business.
Though I'd really have trouble deciding between his product and Dwarf Bread. Probably be safer just to ask the Librarian "Does the monkey want a peanut?"
I wonder if anyone here catches my references?
LOL on Casey. I would be willing to bet that Casey is haunted by Wiki and it is hurting his "ability" to get sweet "deals."
Rob Dawg,
Don’t you think Halliburton has done and will continue to do more to “frake” with your “kids’ future” than KC? Halliburton doesn’t care either.
Please add the incident with Ramit and the scam letter to the wiki.
http://www.iwillteachyoutoberich.com/blog/meet-the-24-year-old-with-22-million-in-debt
@Joey
Not necessarily. His mommie probably put the kleenex there.
@Nadia: Ook!
@ratlab: good call. I hadn't caught that, but I was thinking about Casey's defense of NRU over lunch.
I suspect the "private loan" was from Chris. A sweet deal for him: he has Casey on the hook for $16K of repayment or work equivalent, plus he gets his 50% referral back from NRU. Cash back at closing!
Casey's very defensive about the quality of the NRU classes -- but to my mind, that's largely irrelevant.
What's relevant, and mindboggling, is that he attended NRU, and took on this this additional $16K of private debt, in December 2006. That's after Angleridge foreclosed; and right around the time that notices of default were filing on all his other properties. He'd already stopped paying any of his lenders, secured or unsecured. It was obvious to the haters that his financial situation was dire and worsening daily.
And that's why the NRU trip grated so much: because just as the walls started closing in around Casey he chose to ignore reality, feed his real-estate-investor fantasies, and swan off for a week of highly expensive training.
NRU cost him money he could ill afford -- just two months later he's broke to the point of begging friends for gas money. It cost him time that he should have spent on improving, marketing, or selling his properties. And as for educational value: what has he gained from it that has helped him in any way since?
Yet again, Casey was the bigger fool; he got taken advantage of at a point when he could least afford it; but he's so brainwashed, to use his phrase, that he can't even see it.
At this point it's useless to write a coherent argument. Soooo,
FUCK YOU, CASEY. FUCK YOU. YOU GO TO HELL AND YOU DIE!
I see not only is his Wiki entry no longer disputed, but ALL of the things he disputed before - i.e. the Christianity Mooching thing ARE BACK!
So the sum total of all his efforts today = ZERO!
Hold on somebody just edited it to the following:
Although Serin was unemployed (with no ostensible income) when he bought the houses, he chose to declare on his loan applications that he was employed and earned a steady income. THE FBI IS WATCHING YOU - 10 YEARS PER OFFENSE PLUS 1,000,000 FINE PER OFFENSE - FPMITA PRISON!!! ***** Serin has repeatedly admitted that he lied on his loan applications regarding his employment and his intention to reside in the purchased homes. [3][4] To avoid lenders seeing that he had taken out multiple loans, he used several lenders for the various properties, and filled out the loan applications within a short time frame, so that the loans would not have sufficient time to appear during a credit check. In addition, he received cash back at closing on most of the properties -- for his California properties, Serin received more than California's legal maximum rate of 3 percent of the selling price[5]. The cash-back money was spent on both the mortgage payments for the houses, and on various luxuries such as a Hawaiian vacation for Serin and his wife. In a matter of months, the money largely ran out, and Serin is now 2.2 million dollars in debt, with a net worth of around negative $600,000.[6] Interest in his blog at http://iamfacingforeclosure.com developed first among readers of blogs devoted to the United States housing bubble. His story was featured in USA Today[7], National Public Radio, and the San Francisco Chronicle, among other mainstream media. An online discussion of the fraudulent nature of overstating income in stated income loan applications uses the case of Serin as a running example. [8]
Please people don't blatantly fuck with it or they will lock it up (I have a feeling this is Casey or Nigel attempting to have just that done.
"At 2:39 PM, lawnmower man said...
I suspect the "private loan" was from Chris. A sweet deal for him: he has Casey on the hook for $16K of repayment or work equivalent, plus he gets his 50% referral back from NRU. Cash back at closing!
Casey's very defensive about the quality of the NRU classes -- but to my mind, that's largely irrelevant.
What's relevant, and mindboggling, is that he attended NRU, and took on this this additional $16K of private debt, in December 2006. "
This may be why Casey has started mentioning Chris Record - if Chris has any sense, he is really, really, pressuring Casey to pay off the loan. I don't think Chris really thought he was going to collect on the whole $16K, but he probably hopes to get a few thousand before Casey's financial house of cards blows completely apart.
TK:
Someone also changed Galina's name to all caps. I'm also afraid it's going to get locked up, which is probably what he wants. He should thank his lucky stars--it could be a lot worse than it is.
Please people don't blatantly fuck with it or they will lock it up (I have a feeling this is Casey or Nigel attempting to have just that done.
I completely agree, and I've just posted a (signed) comment on the discussion board.
"As the principal author of one of the sections of this biog (the one about catchphrases etc.) I agree with the points made above about the importance of maintaining strict neutrality. Since Serin so frequently condemns himself out of his own mouth, I think it is not just pointless but actively counterproductive to introduce flagrant bias - it's far more effective to report the established facts and let readers draw their own conclusions. There are plenty of other forums to sound off about Serin's activities, some of which are listed in the article itself."
I think this is Casey getting his MySpace friends and Nigel to do his dirty work for him.
WTF? Someone put a picture of Casey's family on the article?
OMFG that is hilarious! He's gonna be so sorry he opened this can of worms.
YOU GO TO HELL AND YOU DIE!
----------
Backwards. Die First, then go to hell.
Not going waste my time with this one. Wiki will pull the page by the end of the week.
-walt526
Actually there are some great points in the defense of the sensitive stuff. I say it sticks.
http://www.flickr.com/photo_zoom.gne?id=303768508&size=o
@Anonymous, 6:04pm
Thanks for the link. Heh. I just added it to the wiki page.
Sometimes, too much information is not enough.
His stupidity. Breathtaking. Really. I just don't know where to start with this one.
Ok, how about here:
I did not lie about employment but I did state my income (within reason) to meet the debt-to-income ratio for each particular loan amount.
How do you state an income "within reason"? You either say what it is (the truth) or you don't (a lie).
And then we can move on to this:
Anybody who says “why don’t just declare bankruptcy” without considering all of the issues above obviously doesn’t know what their talking about. On the moral side, I felt declaring bankruptcy would have been equal to giving up the fight and walking away instead of trying to make it right.
"Trying to make it right"???? How about making it right by paying the bills?
Oh, and btw, wrong "their" (the "their" in question is a possessive; he means "they're" - a pet peeve of mine)
Gah. Okay. My brain hurts as it is without dealing with Casey.
It'd be funny as hell if someone added the names, addresses, phone numbers, workplaces, and email addresses of his and Galina's family members.
Has anyone sent that information to CashCall yet?
He said he made 35K and then he made 50K. He told some poster at IAFF that during the time he got those loans he said 50K (I don't believe it).
hilarious, casey this will backfire...
lets keep wiki fair and balanced....do our part?!??!?!
hhaha
oh my..no wonder i left your site!
love this one better!
dumberer and dumbererest
I love the picture of Casey Family.
I specially love the picture of Galina Serin.
Anyone notice how freaking close her eyes are? She reminds me of a Cyclops Gal.
Sweet :-)
Oh My Goodness.
What is up with that HUGE Sugar Bowl. I mean, are these people sugar adicts?
http://en.wikipedia.org/wiki/Image:Caseyfamily.jpg
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