Why did nobody tell me about Casey Serin before? Here’s a 22 year old college dropout who’s managed to bury himself in $2.2 million of mortgage debt and upwards of a quarter mil of unsecured credit card debt via admitted fraud… and blogs about it!!!
I particularly love how he calls all the people offering him free advice “haters”! How bad is it? In my estimation, if he wants to keep his ass out of a federal prison, he needs to declare bankruptcy, hire a lawyer, and get a real job yesterday.
Kids, this is the kind of stuff that happens when you read too much Robert Kiyosaki and other real-estate shysters instead of John Ross or John T Reed.
My favorite source for Casey updates apart from the crook himself is Twelve Years of Being Annoyed by Chloe Sevigny. Also check out the highly accurate and biting recap over here.
I love a good trainwreck. And this one should be awesome.
Unix-Jedi | 08-May-07 at 3:01 pm | Permalink
I did. You weren’t paying attention. :)
Unix-Jedi | 08-May-07 at 3:03 pm | Permalink
(I also am not sure the while webpage/drama isn’t hoaxed, or stage-managed. I’m sure there *were* buyings and foreclosures, but CS’s own website chronicles pathetically bad and at-the-worst-time, the worst-possible-decision - at a “lull”….)
Rabbit | 08-May-07 at 11:59 pm | Permalink
AHHAHAHAHAHAHAHAHAH!
Jeebus, but I love a good tale of self-indulgence, bipolar disorder, mail and wire fraud, tax evasion and mockery.
I also read Casey was picked up at the airport this evening on a federal warrant.
This is your brain on living within your means —> .
This is your brain on Kyosaki —> O
Got a new one for him.
This is his bung in Club Fed —> {O}
It’s no hoax. I looked up his Dallas property in the Dallas records. The tool bought a 135k house with foundation problems for 269k. I live about 8 miles from the house and I’ll just say the neighborhood ‘transitions’ toward sundown. Not that it’s that great during the day.
Regards,
Rabbit.
Ernunnos | 09-May-07 at 2:28 am | Permalink
I just thought everybody read Housing Panic.
Dan Patterson | 09-May-07 at 1:46 pm | Permalink
Exactly on point about Kiyosaki: ANY Kiyosaki is TOO MUCH Kiyosaki. Real estate advice from Shelton is accurate and realistic, but he is among the very few who will tell the truth instead of shouting like a carnival barker about “FLIPPING” and “NOOO MONEY DOOOWWWN!”.
I see property every day that is over-priced and on the market hoping (pleasepleaseplease) that some naive buyer with a corrupt agent will make an offer–the agent is often there just to get the sale and not to represent the clients’ interests, sad to say. Makes the rest of us look bad.
Real estate is a big deal and it should be treated like that. Too bad about Serin and his troubles, but it sounds like he made the bed he lies in.
Dan
pdb | 09-May-07 at 2:01 pm | Permalink
I’ve found Housing Panic rather British-ish: lots of bluster and hyperbole, and not a lot of hard numbers. I’m not saying that he’s completely wrong, but I think calling it a crash is putting it rather strongly. I think a correction is way overdue, but we seem to have weathered the S&L crash, the Dotcom crash, the tulip crash and any other number of economic apocalypses before.
Plus, the Mrs and I have a small, sensible, fixed rate mortgage on about half our home’s tax value, and we’ve left the equity unmolested, so we can afford to be smug. :)
Kiyosaki is a fucking snake oil salesman and feel-good quack rolled into one. I cannot get negative enough on his BS.
Aspeth | 09-May-07 at 2:10 pm | Permalink
Thanks for pointing folks to the “Twelve Years” blog.
Serin’s story is crazy…but it turns out, so is he. I just did a multi-part post that shows his muy loco tendencies, dating back to 2005.
I tell ya, if you’re going to be a multi-state felon, you really shouldn’t live so much of your life on the internets.
Personally, I can’t wait for the perp walks. I want to see both him and wifey on my 5:00 news, being led away from a federal building in cuffs. I’ve already created a special drink just for the occasion :)
Rabbit | 09-May-07 at 6:46 pm | Permalink
More rich, creamy goodness….
http://iamfacingforeclosure.com/
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Obviously, word gets around.
Regards,
Rabbit.
Ernunnos | 10-May-07 at 2:51 am | Permalink
We only weathered the dot-com crash by lowering interest rates and massively inflating the money supply. That just compounded the problem, creating an echo bubble in housing. The money supply is still being inflated, and now that the housing market is crashing - and given the unprecedented lows the market is reaching, there’s no other word for it - the stock market is going up again. All that cheap money has to go somewhere.
But it is cheap money, in every sense. It’s no coincidence that the dollar is 1:2 with the pound.