Consumerist: Casey Serin

Casey Serin Shutters Foreclosure Blog

Ben Popken — Fri, 01 Jun 2007 09:25:12 EDT

IAmFacingForeclosure.com got foreclosed.

Casey Serin, the 24 year old who bought 8 homes in an attempt to fix n' flip, and then started a blog about his ridiculous schemes to get out of $170,000 in debt without having to do any real work, has stopped blogging.

A note on his site now reads:

IamFacingForeclosure.com is over. It will never return.

Advertisers: Feel free to cancel your PayPal subscription. I will be issuing pro-rated refunds this week.

Everybody: I'm very sorry to end like this.

Thanks to all the supporterz, haterz and everyone who wrote about me. You guys made the last 9 crazy months of blogging possible.

You may contact me or join my mailing list here.

—
Casey Serin
May 31, 2007

Perhaps being profiled by Cnet as "the world's most hated blogger" had something to do with it. Goodbye, Casey. Now it's time to get a job, you schmuck. If these two recent pictures from his Flickr account are to be believed, and connected, he already has... in the exciting field of real estate! — BEN POPKEN

Thousand Bucks Kitchen Table! and The Real Estate Investor Manbag [Casey's photostream]
IamFacingForeclosure.com [Official Site] (Thanks to Aaron!)

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When Will Casey Serin Pay For Embodying The Worst Of The Housing Bubble Burst?
Posterboy For The Housing Bust

When Will Casey Serin Pay For Embodying The Worst Of The Housing Bubble Burst?

Ben Popken — Tue, 15 May 2007 12:14:01 EDT

Casey-Serin is 24, but he's already $170,000 in debt, thanks to a bevy of hare-brained schemes that helped him buy 8 homes in 8 months in 4 states with no money down, looking to do the ol' "fix n' flip." None of them sold, and now he's strapped to the nines.

We first checked in on him in October '06, and he seems to have only gotten worse. Two of his properties sold, the other 6 foreclosed. He doesn't have a job, he recently borrowed $600 to buy a video camera to help with his blogging, and took a trip to Lake Tahoe for a "brainstorming session." He keeps reaching for more quick-rich schemes, like trying to find a buyer for a Las Vegas Casino, or referring students to a shady investment strategy school. Book deals are said to be in the works, he's received national and international press coverage, and appeared on Suze Orman's and Robert Kiyosaki's advice shows. Hundreds of comments are left on each post.

Let's not forget that he committed mortgage fraud, lied on his loan applications, and lied about owner intent, that is, said he was planning on living in the place when he really wasn't.

Why doesn't he get a job? Declare bankruptcy? Stop being a schmuck? We know why. He's addicted to blogging about his financial improprieties. The attention feeds continued bad behavior. If he actually fixed his problems, the source of his current notoriety might dissipate. In time, however, Casey will find his fame just as fleeting as his bank account. — BEN POPKEN

I Am Facing Foreclosure [Casey's Blog]
Casey Serin: The world's most hated blogger? [Cnet]

Posterboy For The Housing Bust

Ben Popken — Mon, 09 Oct 2006 18:48:25 EDT

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!)