Saturday, May 09, 2009

Black Swann

Surprise, it turns out Greg Swann is just Casey Serin with a Mac and a head start. From his newly revamped blog:
For the past three years, our outflow has exceeded our inflow. This is not an unusual story in the real estate business, and we have been lucky to have enough high-paying work to at least keep us within reach of profitability. During this same time, as you have seen here, we have completely reengineered everything we think about marketing, with the ultimate test of those ideas beginning only now.

But our debt load became severe enough last year that we had to make some hard choices. I elected to take a chance on our mortgage payments, since there was a plausible threat that we might lose the house anyway. Our choice was to keep the doors open at the risk of those doors themselves. I could see an upswing in our business activity, to the extent that I expected to catch up on the mortgage by the second quarter of 2009, and to catch up on everything by the fourth quarter.

I still expect this to be the case. My one mistake was that I didn’t think IndyMac would pull the trigger this soon.

Yup, foreclosure.

More, much more later. Oh, and an important blog note. Greg Swann has taken to editing absolutely anything on his blog the least bit negative, just like Casey. So just like then, anything you want to say to Greg, say it with no fear of censorship.


anonymous said...

Couldn't happen to a better guy.

At least Casey was the kind of guy you might have a beer with, out of curiosity. Swann is the type of guy you just want to punch in the nose.

Anonymous said...

I have eighty five cents in my pocket, hey, I'm richer than Gregg Swan. Oh happy days!

Anonymous said...

It sounds like he coughed up the back payments and the penalties at the last moment.

What a fucking tool. He's dedicated to cleaning up the real estate industry, but skips his mortgage payments when he could afford them.