Part II – Casey Serin : Learn from a real life story of what not to do in Real Estate

Casey Serin’s foreclosure scenarios are getting common nowadays not only in the US, but in other parts of the world hit by the real estate bubble. 

However, his optimism, calmness and ability to share his experience to everyone are not something you’ll  often see from a foreclosure victim.  He made serious mistakes and he is optimistic that he will recover.  I don’t know how he will manage to do it but a positive attitude is better than totally losing hope about his situation.  With all the publicity he’s been getting, he might get lucky with a book or movie deal to save him from his troubles.

However, wishful thinking got him in trouble in the first place.  He was very aggressive in investing that he bought too many houses too soon and quitting his job at the same time. There is nothing wrong in being aggressive in investment as long as you have the skills and the finances to do it.

Casey’s blog is interesting to read because the foreclosure cases are real.  There is so much to learn from his real life experiences, but read it with caution.  Make sure you learn from the factual information but do not heed his advice.  From what I’ve read in his blog, I could say that he is only partially facing reality.  He is transparent about his situation but he is still in denial in handling his finances and planning for the future.  He is so carefree for someone so young and with millions in debt. He also believes that he could turn things around in 8 months time to have a passive income of $5,000 from real estate.  He has a lot of crazy ideas that I’m asking myself why do I have to blog about him.

Just like the other media giants who took notice of  his blog, his story captured my interest.  His story is like a wild thought that  got out of hand.  A lot of us dreamt of owning several properties, but for some it remained a dream.  I admired Casey for pursuing his dream; however I pity him for  not waking up to reality. 

His blog is a good read if you want to learn about foreclosures and what not to do in real estate investment.  He has received countless advice regarding his situation that is worth looking at.  Here is one of the good ones. But, better yet it is a good reality check for those aspiring real estate moguls and new graduates of those get rich quick real estate seminars.

There is definitely lots of money that can be made in real estate, but just like any investment, there is also a risk of incurring losses just like what happened to Casey. You just have to plan your real estate investment carefully, put into practice what you have learned, set your emotions straight and make sure you’ve sort out your finances.