"Below the Crowd" went back and checked the status and as of Friday our own little Hammar Scammer™ is a corporation in good standing with the State of California. Ubber Alles Kalifornia. Hammar
and the IAFF post by btc:
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168. BelowTheCrowd
May 5th, 2007 at 9:48 pm
Hammar Investments appears to be active.
It often takes a while for the California Secretary of State website to update. As we all know, this is an aged corporation that Casey bought and presumably had to have reactivated. I suspect the reactivation paperwork and fees took a while.
Corporation
HAMMAR INVESTMENTS, INC.
Number: C2556789 Date Filed: 9/10/2003 Status: active
Jurisdiction: California
Address
3636 AUBURN BLVD
SACRAMENTO, CA 95821
Agent for Service of Process
CASEY SERIN
3636 AUBURN BLVD
SACRAMENTO, CA 95821
Of course, he could have created a new corp for about $150 and it would be no less creditworthy than his current one.
-btc
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45 comments:
I <3 BTC!
FIRST , MURST !
I <3 BTC!
Too cryptic, can not be accepted as post! Makes me FIRST ! SWEEEET !
Thurst?
NOTICE FROM ADMINISTRATOR:
Under the terms and conditions set forth under the Exurban Nation bylaws as unanimously adopted in closed session it is determined that "Sprezzatura" be declared most first among firsts. Para XIII section Alpha Dawg subsection 2759 entiteled "Firstiness" the rules clearly state that topical content indicating that said participant actually read the post shall take precedence.
Thus say we all.
Long time no talk! Yes I have not been good at updating everybody and keeping in touch. So here is a 1) quick update about what I’ve been up to, and 2) an opportunity to put your money to work with us in the real estate business
This January I quit my job to do real estate investing full-time. Together with partners in the area we buy and sell houses for fast gains and we also hold property for appreciation. In the first part of the year I personally bought 7 houses in 4 different states. It’s not all easy - there is definitely a learning curve. It helps to have experienced associates to help me along.
Now what??
We have a unique opportunity to continue to expand the real estate business. Because of the market reversal in California there is going to be many people in trouble with their loans. People have been buying more home then they can afford or refinancing like crazy. Foreclosures are already on the rise and they are going to sky-rocket in the next several years.
There is an opportunity to 1) help people out of trouble and 2) make some money. Service and integrity comes first though. I know what its like to be behind payments and face foreclosure. I refuse to be a “shark” investor.
It must be win-win, or no deal.
Want to participate?
Do you have money that’s sitting in an account somewhere earning an embarrassing 1-3%? Are you comfortable with your retirment money sitting in a volatile stock-market?
Maybe you’re not investing at all. Are you comfortable trusting social security to take care of your retirement?
Invest your money with us and get 24% fixed return secured by real estate.
We use your money to buy and fix houses improving the area and helping sellers in distress.
Benefits to becoming our private lender:
* we pay fixed 24% interest on your money - reliable returns
* compounded monthly - your interest is making interest and it grows exponentially
* secured by real estate - just like a bank, YOU get a mortgage against our properties to protect your investment
* start with as little as 10,000
* may use your 401K or IRA account - get tax advantages
* your money doubles every 3 years
* 10,000 grows into 100,000 in 10 years
Worst case scenario…
If we can’t pay you back, you get a good property. We only put your money into a house that has at least twice the equity as the amount you’re investing. We only invest into nice properties in good neighborhoods. If something were to happen to our business you can normally just sell the house at a discount and get your money out. What stock or mutual fund is going to give you THAT kind of security?
Limited opportunity…
We can only take a certain number of private lenders. Get back to me soon so I can explain in more detail.
Also please forward this to anybody else who may want to get a high return on their money. We pay referral fees!
Anyway…
I would love to hear from you either way. Lets catch-up!
notgood: "Ubber Alles Kalifornia"
itsallgood: "Kalifornien über alles"
itsallsweet: domain grabbers, I spy a sweet .com domain up for grabs.
Amazingly getting back on topic, I have to ask what are the reporting and accounting rules for such a CA corporation? Presumably Casey has to file some sort of return at a date in the future but can put off the date for some time yet. Don't you have to declare what the business of the corporation is either?
Taking a page from MC Hammer, the rumor is that Casey has made Hammar's new motto:
Can't Touch This
It's beautifully apropos, more flouting of the law ;-)
Staying on topic!!
A new corporation called "Hammar"
Was run by an amateur scammer
It's goal -- to lend cash
That Casey can stash
Thus sending him straight to the slammer! :-)
Grilled up a fat steak, watching the NBA finals, done cleaning the house - SWEET
Agent for service of Process: CASEY SERIN
Doesn't CashCall have a process or two to serve?
I know a lot of Haterz have been wondering what will be in Casey's forthcoming book. The truth? Bwha, Ha, Ha, no chance of that.
Well for those who are wondering, I was able to find a copy of the book cover on Casey's private Flickr account before he took it down:
Book Cover
It looks like Elvis has left the building ... and is now sleeping in his car.
Nice one, Benoit. Another limerick to add to the collection.
Arthur Wankspittle, wrote:
”Don't you have to declare what the business of the corporation is either?”
Most, if not all, California (for profit) corporations are structured to allow performance of any lawful business. Of course there is a stated primary business interest, but that doesn’t mean a "for profit" corp MUST stick to that line. Essentially, a widget manufacturing corp can engage in selling or providing any other lawful product or service. It need not be limited to only manufacturing widgets, as stated in the corporate charter for example.
Although a key element to remember here, is the term “FOR PROFIT” (which can be a subjective thing).
The current picture posted at DHC is ripe for photo-shopping.
Hello all,
Long time lurker first time poster with an interesting article from the Sacramento Bee. Apparently there's a woman in Fair Oaks (a bit East of Sacto for those outside the area) who has become, according to the title of the article, a "foreclosure maven." In reading the article, it's clear to me that she is what Casey wants to be. She made her first RE money by brokering an apartment complex deal. She has seminars all over the left coast. She's been on daytime talk shows as a "foreclosure expert." She charges $19.95 for a 90 minute consultation. She has received lots of press as a credible source of foreclosure advice, and nowhere does it mention that she's lost six of eight (or however many our fearful leader has lost) homes to foreclosure. I guess Casey's kicking himself now...he thought he had to go thought the wringer to get his just desserts. The best parts for me:
1) She's in Snowflake's backyard. And I guarantee he has never heard of her even though she's in his (desired) field.
2) In the list of recommended foreclosure websites, there's no mention of Snowflake's site even though he's so proud of his top-six ranking in the Google. In fact, those sites listed all appear above him in the rankings. Guess he needs to massage his keywords a bit more...he was so close to being in the Bee again!
Just goes to show that Casey is and will always be an amateur in a professional field.
Let's see if my rusty HTML knowledge allows me to link this story:
Link to Bee article
If my skills happen to be as "leet" as Casey's I've also provided a link above.
Cheers,
Steve in Folsom
The current picture posted at DHC is ripe for photo-shopping.
OMFG Nigel examines the characteristics of Narrsicistic Personality Disorder and comes to the conclusion it is accurate. THe punchline is that he sees this in Casey but not himself! Too rich.
The Sacramento Bee is ripe with meaning today. The Business section has an article about a local foreclosure maven who runs a web site and pricey seminars and has a book coming out. And in Section A, a full page ad for 4 days of Robert Allen seminars in the area. The ad features a 12-year-old real estate investor who is "an unstoppable self-made millionaire in making" who claims "anyone can do it."
I'll bet Casey is wondering if he can find enough money to attend. :)
Steve in Folsom, wrote:
”She's in Snowflake's backyard. And I guarantee he has never heard of her even though she's in his (desired) field.”
Alexis McGee (subject of the Bee article) isn’t all that; first and foremost. Secondly Casey certainly knows who she is, because he’s no doubt frequented ForeclosureS.com (a website that puts down practically all RE training, except those which receive blessings from McGee). Even the most infantile RE Investor knows about the two “dot com foreclosure” sites (foreclosure/foreclsoureS).
Frankly, the only reason McGee is PERCEIVED an expert is because of her media exposure (which is respectable). But perceptions do not equate to reality, especially when promoting services such as those found through ForeclsoureS.com.
Although don’t get me wrong. While Alexis McGee is no schlock, she’s not half the “expert” the media makes her out to be. Yet in comparison to our golden boy Serin, it’s easy to see where you were coming from.
abso-fukin-lutely correct.
casey the professional seminar attender!
Don't get me wrong...I'm not calling her an "expert" at all. I can't stand the RE business and I don't understand why anyone would pay thousands upon thousands of dollars for these seminars. I'm just looking at her and seeing everything Casey wants to be. He wants to be that "perceived" expert...he wants to host $9000 seminars...he wants to be on Good Morning America. And he's losing out to someone who is a quick drive up Highway 50. While he's moping about cleaning pools and going through emails, she's making bank, and I bet that eats him up inside (if of course he knows about her).
I wanted to cross post this here too.
I know that most posters here don't like Nigel but his issues are rather minor compared to Casey "Snowflake" Serin.
I give you GOOD odds that Casey is scamming away about how to use this "Narrsicistic" angle. I can see it now
iamfacingfinancialmentalruin.com
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Comment posted on Nigel's non-award winning blog.
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Nigel,
frankly it just doesn't matter...
In my professional and investing career I have come across literaly dozens of Casey's. EVERY time there is a "handicap", "family drama", "mental issue", etc. that somehow explains the behavior. EVERY time like a monkey following a new tune the individual, once confronted with a "reason" for the behavior, will "run with it" and attempts to use this revelation to get further ahead.
Certain scam artists are blessed with the halo of innocence. People continue to believe that best of these scamsters despite all evidence that they are not innocent.
What I find facinating is the social dynamic of the Casey Apologist. It is hard for anyone to think that they have been "duped" to be sympathetic to a scam artist. And some of the smartest people find they are the easiest to decieve. No one wants to admit that Casey is an active agent in his schemes. We wish to blame it on "Gurus", "Haterz" and "bad luck". In the end there is Casey and the results of Casey's actions.
Nothing else matters... to paraphrase a great quote: How will we know good from evil?
You will know by their works.
Casey has a few quotes in a new San Francisco chronicle article about short sales: SF Chronicle - Surreal Estate
JJS-
Good find. I am absolutely certain that Casey did everything in his power to avoid making those short sales happen. He must have pissed off the lenders so badly that they threw his short sale offers to the bottom of the stack. An intelligent person faced with this situation would have gone out of his way to make sure that short sale packages were fedExed, faxed, freaking hand delivered with a box of chocolate, whatever. He went into lender avoidance mode. I'll bet the agents didn't bust their asses either because they knew full well who they were dealing with and what the end result would be. Ultimately, Casey is able to say it was the bank's fault. As far as I can tell, nobody has ever proven there was a short sale offer on any one of his properties. Because as far as I can tell, every property was absurdly overpriced even at the short offer price and each home was in horribly shitty condition, since we all kniow Casey took the money and ran (except on Texas which somehow cost him several hundred thou...yeah right!)
So a bank 'wishes' for a house to go into foreclosure. If the person who bought the house using fraudulent loans, maybe the bank wants that individual to suffer as much damage as he can, without having to chase him down for loan fraud.
On a sidenote, what do you think the public would feel if banks accepted the first or second offer made on every house in default? Property values would definitely drop.
It appears either (a) people aren't posting to IAFF or (b) all interest is lost.
His numbers are tanking - and tanking fast.
It appears the future of IAFF is set..... the blog is gasping a final breath.
My last session with my psychiatrist lacked drama...
Benoit:
Casey once bought him a firm
He's a parasite and a germ
He borrows the dough
When it's due, he's "no-show"
Casey the "money-tapeworm"
It has been a really slow weekend. Everywhere not just Caseyworld™ and its sattelites. On the homefront had a great First Communion. Low key buffet with relatives on the porch type stuff afterwards. The warm winds have died down and spa tonight will feel good under the stars. Sometimes lack of drama is a good thing. Bakersfield Bubble has some drama. Crisp & Cole has finally folded. There's a perp walk and mutually assured destruction drama to watch. MSM probably won't have it until Tuesday by which time it will be old news to those eil bubbleheaded bloggers responsible for crushing the American Dream.
Hey everyone,
I just wanted to drop in and see what was going on in Caseyland but I see things are still the same. You know for Casey wanting to monetize his blog so badly you would think he would spend some time on it!
I will be glad when we get moved into the house. Maybe then I can get back to checking in on EN several times a day again instead of just before I fall into bed from exhaustion. LOL
By the way is it a good thing or a bad thing when the opinion of family dropping by to take a look at the house all say, "it's got potential"? Granted some were like, "WOW this house has a LOT of potential" but a couple were like "Hmmm this house has potential"
It appears either (a) people aren't posting to IAFF or (b) all interest is lost.
A bit of both for me, unless there's some fun involved like finding IAFF google bombs.
But really IAFF is playing re-runs now. Seen it all before; and nothing that commenters say will make a damn bit of difference to how it plays. What's the point?
IAFF is tanking. And it'll continue to tank unless Casey changes the tune -- either with some genuinely new outrage, or with some genuinely honest answers.
(Oh, and I like how Nigel has latched like a lamprey onto the "is Casey bipolar/narcissistic" question as if it's the first time it's ever been raised. Six months late, pal.)
#1 house flipping looser
Sweet!
#1 sweet cashback
Win-Win!
Shockingly, IAFF is on the bottom of the 4th page of results for organic modified vegan scum.
@ Sharky: nice :-)
@TK
I still don't understand why Casey pretended to do short sales in the first place. The only reason you might want to try to convince a bank to do that is to preserve your credit, but that ship sailed a long time ago with Casey. Otherwise, you're on the hook for the taxes on the income at the end of the year. The only reason I can figure out is that in Casey's deluded mind, he's really proud to say he's "making win-win deals", even when it's not to his own benefit.
#1 sweet cashback
Oh, that's awesome: I tried that search on Friday and IAFF was a lot lower. I think Sweet Cashback's comments at IAFF were enough to Googlebomb him up to #1 position.
Casey claims he attempted short sales in order to feel like he wasn't just shutting down and letting it happen - which is exaclty what he did. And now he feels he was marginally successful. Sort of like taking out the trash at Yulia's.
A few things:
A typical set of articles of incorporation will state something like: "The purpose of the Corporation is to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of California other than the banking business, the trust company business or the practice of a profession permitted to be incorporated by the California Corporations Code."
Essentially, most corporations can do anything except one of those "special" things which have special incorporation procedures.
When you apply for an EIN, you usually need to say a bit more about the primary business, but it can be extremely vague and usually is.
As for reporting, there's really not much. You need to file an annual SI-200, which costs $25 and lists your current officers and agent for service of process. You also must file a tax return by March 15 of every year. There is a minimum $800 payment for each calendar or fiscal year after incorporation.
-btc
JJS, wrote:
”I still don't understand why Casey pretended to do short sales in the first place.”
And you’re presupposing he didn’t have any short sales working. Maybe he did, maybe he didn’t; albeit there is no way of confirming either without written borrower authorization.
JJS, wrote:
”The only reason you might want to try to convince a bank to do that [sell short] is to preserve your credit, but that ship sailed a long time ago with Casey.”
That’s not accurate. There are several dozen reasons why a short sale could make sense to both lender and borrower, excluding preservation of one’s credit. In the case of Serin a short sale on Muncy, for example, would have been appropriate considering market factors (-7.58% market decline in Modesto, source: DataQuick) and the severe property disrepair we’ve all seen (the green pool, and who knows what else).
JJS, wrote:
”Otherwise, you're on the hook for the taxes on the income at the end of the year...”
Issuance of a 1099c (apparently what you’re referring to) isn’t always a foregone conclusion with most lenders, in fact; few actually follow prerequisite protocols enabling them to claim the loss. Moreover, lenders typically have up to three years to issue 1099c; it is not required immediately after the loss.
Believe me, a lender would much rather pursue a deficiency than lose out to 1099c; as they cannot (legally) do both -- collect and issue 1099c -- even in cases where the debt is later assigned to a collection agent.
Lending recovery aspects aren’t as cut-n-dry as many here seem to believe. Much the same holds true for prosecution of mortgage fraud, but that’s another topic altogether. :)
Thanks to replies about how CA corporations file. Looks like Casey doesn't need to do anything for about 10 months which might explain the timing (assuming he's clever enough to have worked that out)
Alexis McBee foreclosure woman. Looks like a lot of selling advice and only a little action. Surely you have to be really (and I mean really, acutely ) astute to be able to buy a foreclosure in the current market and make money on it. The number of cases where you could do that IMHO would be single figure % of all the property in foreclosure. Anyway, why try to catch a falling knife? I suspect anyone trying it will lose 9 times out of 10.
Casey and short sales. I can imagine that he might get some interest in a short sale off some contact somewhere but then Casey would "big" it up and think he'd got a deal. Then, being Casey, he'd contact the lender saying he's got a short sale buyer and do nothing more about it. i.e. no follow up. Weeks later he then whines that he had a buyer but the lender still foreclosed.
#1 google ranking casey sucks ass "i am facing foreclosure"
@Anon 9:43
And you’re presupposing he didn’t have any short sales working. Maybe he did, maybe he didn’t; albeit there is no way of confirming either without written borrower authorization.
He may very well have had a buyer lined up. I said he was "prentending" because we all know he wasn't going to do the legwork to make sure the deals go through.
There are several dozen reasons why a short sale could make sense to both lender and borrower, excluding preservation of one’s credit.
Can you name one? I can't think of any reason why it would help the borrower unless they were worried about the bank pursuing a judgement after forclosure (highly unlikely in most states).
Issuance of a 1099c (apparently what you’re referring to) isn’t always a foregone conclusion with most lenders
Even if the lender fails to issue a 1099c, you are still subject to tax on forgiven debt. Failure to report it on your return is tax evasion.
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