What I Need

Now that the holidays are over I can get back down to business. First off I have a lot of player haters on this blog that think this is all some joke but it's not. I seriously went out and bought properties because I was inspired by Casey Serin's story in USA Today.

Remember when I said I wanted to be just like Casey but better, well that's true and that's why I cant give too much personal info about myself or my situation, I do not want to go to jail so I cant be stupid like Casey. I already failed at the first attempt to be better then Casey, as I posted in this blog my sweet deals turned into sour deals and I am now facing foreclosure.

When I bought the properties I got $100k back when I closed the deal. Unfortunately I strayed away from the original plan and instead of just pocketing the money($100k) and turning around and selling each unit, I got greedy and started thinking about how much more money I could get for each unit if they were all fixed up.

I had a Friend who's dad was a contractor and he was telling me what things you can add to a house that really makes the value go up and makes the house sell fast. So I hired him to fix up the units so I could sell them for top dollar. I had him add all the important things like: Granite counter tops and Stainless Steel appliances in the kitchen, Travertine and Jacuzzi tubs in the bathroom, Duel Pane windows threw out, all of it was top of the line stuff.

Before I knew it months had past and most of the $100k was gone and only three of the four units were finished, the last unit is a nightmare it's striped down to the studs and is not livable. In retrospect It was stupid to try and remodel the units when all they really needed was some new paint, carpet cleaning, and some new appliances.

So here I am with foreclosure looming, I have one unit that's not ready for sale and three ready units that no one wants to buy. What I need is to sell the three condo units for enough money that I can pay off the loan and get out of foreclosure, then I will be out of debt and I will still have one condo unit left for myself, I can live in it free and clear.

I have already moved into the unfinished condo unit anyway. My mom and I got into a fight because of what I did, she is not big on fraud and harboring criminals so see kicked me out of her basement. Hopefully I can sell the other three units and just stay here and slowly fix up my unit as I go, it will be kinda hard living here because although I have running water I don't have any shower or sinks, thank god they did not demo the toilet.

So to summarize:

1) I need to avoid foreclosure

2) I need to sell the condo units for enough money so I can live in one free and clear

3) I need to buy a sleeping bag

P.S. I will be taking a week off to relax for the Martin Luther King Jr. federal holiday

Happy Holiday everyone!

How did this Happen?

Well it all started one day when I was waiting at the bus stop. There was a homeless man sleeping sound covered in news papers. I saw one section of the paper that he wasn't using and it had an interesting article entitled "10 mistakes that made flipping a flop" it was a fascinating story about a 24-year-old Real Estate investor named Casey Serin.

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.