I Am Not Facing Foreclosure

More lunacy/new age mumbo jumbo from IAFF.  My comments in bold. 

11. Casey Serin
February 22nd, 2007 at 11:09 am

Sheniqua… You’re right I didn’t follow some of the guru advice like to start small and do local deals at first. I’m not saying the gurus are the ones to blame at all. I am just saying that it’s not all that easy and many people who have gone through the “seminarland” will agree with me. Seminarland is a good place to learn but sometimes making mistakes and failing a few times is the best education and builds real life experience.

Seminarland, huh?  Why not try ‘Accredited University Land’?  I hear those are good places to learn stuff.  Failing is okay, but colossal failure to the tune of 2.2 million is not something that can just be chalked up to a learning experience, IMO.

I failed, so what? It’s not really a failure if I choose to not look at it that way. Its really an opportunity to learn. Controlling what I believe is a very important process of becoming successful.

It’s not really jail if you close your eyes and imagine you are on the beach.  It’s an opportunity to work out with weights, eat maggot infested gruel, and become close personal friends with Bubba.  Think of it that way.

The haters/critics here contribute to my experience because they’re quick to point out the flaws/concerns. A little bit of risk assessment is a good thing. I definitely need that.

No, what you need is a JOB.  Earned income.  You apparently do no risk assessment/research/due diligence prior to making these shady loans.

However if I listen too closely I will become paralyzed and will not be able to jump on opportunities when they present themselves.

You need to become paralyzed so you will stop doing asinine things.  You jumped off a cliff, basically.

I see opportunities everywhere. Most deals are not so sweet on the surface. One must learn how to analyze every deal and look for ways to structure it and make sure it’s win-win.

I see deluded people.  You seem to be the master of the loose-loose deal.  You need to work on structuring your mail piles before anything else.  Please quit with the silly clap trap guru speak that you know nothing about.  You are not a businessman.

It’s like putting the pieces of the puzzle together. There is a lot of work to be done in nurturing and massaging the deal until it’s ripe for juicing.

Barf-o-rama.  That’s about the only thing I can come up on this one.

So working opportunities takes a lot of time and effort and you wonder what I do all day???

What was the last opportunity you worked?  What did you do?  How long did it take?  Details, details, let’s hear it.  You do nothing but procrastinate.

Yes, execution of the deal is important and paying attention to details is important. I have a weakness with details and risk assessment. I see the opportunity in everything and overlook the flaws. I need to work on that or outsource that part of it out.

Weakness with details and risk assessment?  That is the whole shooting match with RE investing.  Number crunching, contracts, risk/reward.  How can you ever possibly be successful when you have no skills in any of the important area?  Stick to the mail (whoops, not very good at that either).

That’s where I failed. I had pretty good strategy: fix-n-flip. However, I failed in the fixing part. The repairs took much longer then I thought and much more money. I got taken advantage of by contractors. I underestimated the repair bill on some of the houses and bought too high. I ran out of money and am now facing foreclosure.

Your strategy sucked.  You overpaid and took cash back at closing.  Even if you had fixed your houses up like mansions with sweat equity at zero cost (what am I thinking?), the market was tanking.  You had no chance because you didn’t know your market. 

When I do fix-n-flip in the future I know exactly what to do differently.

No sir.  You are done.  Game over.  No more fix and flip.  No more loans.  No more fun and games or napping or trampoline bouncing.  It’s the cold steel door clanging shut for you.