I have been reading the blog of I Am Facing Foreclosure for the last few months now. The blog is about a 24 year old real estate investor from Sacramento, CA. He bought 8 houses in 8 months with no money down and is currently a million dollars in debt. He managed to sell all but 4 houses.
Many other bloggers have blogged about Casey this last month. But one more blog post to tell you how not to test something out wont hurt you will it?
Now I am a huge supporter of testing stuff out. Whether its testing a website, a niche, and new market, and in this case real estate, you should always start slow. Do not go and buy 8 houses without first learning how everything works and knowing the market like the back of your hand. Casey’s mistake cost him a huge amount of stress, debt, and possibly some time in jail.
What he should have probably done is bought A (1) house and tested it out to see what happens. Find the best way to sell the house, see how the market is in his area, and see what strategy works with him. What he shouldn’t have done is bought 8 houses with the only knowledge of some seminars. That is right, to learn about real estate this kid took seminars.
Now I am not going to say what he should have done right with the actual houses, I am just saying that this kid should have took things slow, done more research, and tested this shit out more. My point is… this is what happens.
Review Time!!
Ok, after staying up late one night and you stumble upon a “how to flip a house and get rich with no money down” commercial… what do you do?
A. Research, buy 1 or 2 houses and actually tested stuff out.
B. I don’t give a fuck… go and buy 8 houses with little to no knowledge about the market and no money.
If your answer was A then you would be on the right path to success and eternity of free stress.
If your answer was B then you would be in debt, tons of stress, and the possibilty of going to jail.
So in conclusion, take things slow and test, test, test!
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Lol good find. He thinks he has good credit score with a 600? thats not good I’m higher than at age 19.
1.8m in debt did he say? Is he screwed? for Temp, but he will make it in the future I’d bet almost for sure.
Or in other words, do the thing that sounds obvious.
I take back my previous comment, after looking at his story. He seems to have been very unethical, cheated, doesn’t pay people back, doesn’t listen to suggestions.
Sounds like an ignorant guy, and no i don’t necessarily think he will be successful in the future. He’s kinda a big fool, not to mention, his relationship supposively is now going down hill.
hehe, i am reading his blog also, also watched the 1 hour movie he made for a classroom..
hope for him he will sort things out and get out of debt!!
I’ve been reading this blog too. TBH I think it’s a scam to popularize his blog. There’s just no way somebody can be this stupid.
This is the internet. There are people even more stupid than that guy around every corner.
Im pretty sure its real. He only has 300 ppl on his feedburner feed. So he would be making less than 1k a month from his blog…
Ed Lau is true. There are tons of them people around here…
I enjoy how you erase my comments. It just shows that you filter out comments and this is truly not a blog. Just a good ol’ boys site.
Web Enterpriser - Dont jump to conclusions. I have never deleted a comment from you. I looked at my awaiting comments and noticed I missed a comment from a Mark person. But I have never deleted a comment from you.
Web Enterpriser: This is Jon’s website, even IF your accusation is true (which I doubt), he can do whatever he wants on his blog.
Word.
Man, that is way scary stuff. 4 houses left.. I hear the sound of bankruptcy
Wow interesting. Thanks for posting.