Ah, more oogie in the wake of the recessing housing froth. Meet Casey Serin, a 24-year-old with $2.5 million in debt.
Serin’s trying to get out from under 6 money-losing properties. He’s not going to cut bait, file for bankruptcy and get a job.
Nope, he’s started a tell-all blog. SFGate’s Carol Llyod writes:
- “What Serin reveals about himself is that he’s a sucker for every real estate myth that the industry has been feeding us for the past 10 years: that the market will always go up, that if you buy at a discount you’re safe from financial risk, that gurus are doling out useful advice for the beginning real estate investor — and that if you make enough deals, you’re sure to come out ahead.”
Here’s a flyer he put up recently.
“A would-be real estate mogul follows boom tips straight to bust” [SFGate] (Thanks to Philip!)