I didn't get a chance to read the whole article because my bus came and I didn't want to take the homeless mans paper, so when I got home I immediately ran to my mom's computer logged on and searched for "Casey Serin" the results came back with "IamFacingForeclosure.com" I clicked the link and that was it, the start of my nightmare.
On his website there was all this information on how to buy Real Estate. He showed how easy it was for someone to buy properties with out having anything just by lying on loan application. From his own submission it was clear even a monkey could buy Real Estate.
That was all it took and I was hooked Casey was my Idol, my Guru, he was the MAN! The main reason I ended up going down this dark lonely road fallowing after Casey was because of the sweet deals like getting money after you buy the house or "close" on the house. He talked about one deal and how he got $50,000 cash back at close, Imagine that actually buying a house and instead of paying $50K you get $50K. Only in America!
I had it in my head that this was going to work for me, my Master Casey made some mistakes and was a little unlucky. But I was going to learn from his mistakes and were he failed I would succeed.
The Sweet Deal!
I thought I had learned everything I need to know from Casey's blog and I was on my way. I looked in the Real Estate section of the news paper looking for some sweet deals. This was the first time in my life(I had just turned 18) I ever thought about buying Real Estate, I never even looked in the RE section before and can you believe I found the sweetest of deals my very first time.
Now that I had identified the property I wanted the next step was to get the loan, one Casey special coming up. The good old "liar loans" the things Casey's dreams are made of. With the tricks or should I say the techniques I learned from my Master's blog, I logged on to the Internet and went to some shady mortgage loan website and applied for a 100% financing - stated income - interest only loan.
To my surprise I got approved for a loan rather easily, they stuck it to me with a really high interest rate but I didn't care because I was going to get cash back and anyway I was going to turn around and sell the properties fast!
I say I bought 4 properties in one day and this is true, the place I bought was a fourplex that was just converted in to 4 single condo units. Although the condo conversion was completed the place still needed some upgrading witch I didn't mind because I was going to use this to help get even more money back at the end of the deal.
Well this was the beginning of the end for me, to recap so far:
- I saw Casey's story in USA Today
- I found his Blog: http://iamfacingforeclosure.com/
- I learned how he worked all his sweet deals
- I saw how easy it was and I wanted to be just like Casey but better
- I bought 4 condos with 100% stated income I/O loans
- I am NOW facing foreclosure just like Casey
I will keep blogging about my story and keep everyone up to date with whats happening.
Please feel free to leave me a comment below.
Encouragement, advice, tips are all welcome.
