Casey Serin is a 24 year old from Sacramento, California, who aspired to be a real estate mogul. He amazingly bought 8 houses in 8 months in 4 states without any downpayment. Along the way, he quit his job; his only source of income.
He intended to build his real estate empire by renovating and flipping his properties. His intention was good, but his means was fraudulent and his timing was bad. He obtained his financing by lying about his income and his purpose for buying the property. He also obtained "cash backs" from 5 out of his 8 properties which is deemed illegal. He bought his properties during the peak, thus it’s hard to resell them immediately for a profit.
Due to some serious mistakes from the start, instead of coming out wealthy from his real estate transactions, he accumulated millions in debt. It’s nice to hear if you have 8 properties under your name, but if it’s only giving you losses, then its not assets but liabilities.Â
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Basic Guidelines in buying a property…From: propertycrossroads.com
Post Date: 2006-11-28 16:04:29
It took us quite awhile before we decided to buy our own property. You can read on my previous post, on how we moved on from renting to buying our own property .
 For some people, it is an emotional exercise to buy your own property specially if its your first time.
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Here are some guidelines I used to balance my emotions with logic in buying our property.
1) Â Â Â Â Â Set a budget
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It is easier to buy a property if you have a set budge...
more Moving on from renting to buying a propertyFrom: propertycrossroads.com
Post Date: 2006-11-13 18:50:46
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I first moved from Manila, Philippines to Sydney Australia last October 2002.
Me and my husband, had been renting a two bedroom apartment in Sydney’s north shore before we moved to our current house.
Prior to our decision to buy a house,our circumstances was very challenging.
He did have an investment property before we got married. However, the structure of the partnership in that investment, makes it more fa...
more It pays to know the law and your rights when buying a property!From: propertycrossroads.com
Post Date: 2006-11-10 03:01:25
My husband and I had recently bought a house in one of New South Wales, Australia’s key development areas Rouse Hill . At a different blog, I will discuss how to check the key development areas and what to look out for in a development.
I will be sharing my personal experience in buying and renting a property here in Australia in a series of blogs. But first, I will discuss the importance of knowing your rights and the laws involved when buying a property based on my recent expe...
more Making Money in Real EstateFrom: propertycrossroads.com
Post Date: 2006-10-06 09:26:30
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There are several ways to make money in real estate. Â
As a real estate broker, I could say that I made money in real estate through the commissions I get from sales and rentals.
However, that money is not a consistent income stream.  The best way to make money in real estate is to save for a deposit and invest it i...
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