Tuesday, October 10, 2006

iamfacingforeclosure.com

"I'm a 24-year-old aspiring real estate investor from Sacramento CA. After going to few seminars I bought 8 houses in 8 months across 4 states with no money down. I fixed and sold 2 and then ran out of cash. I am now facing foreclosure on 5 houses. I'm learning my lessons, finding solutions and blogging about it. Comments appreciated!"

This guy and the mess he finds himself in is attracting a lot of attention in the blogosphere.
He’s stopped taking calls from the banks he owes money because he doesn’t like their bad attitude. He is presently hatching a dastardly and highly convoluted scheme to dump the properties he bought on unsuspecting ‘credit challenged buyers’. Oh and how did he find himself with all this property in the first place? He committed several criminal frauds in obtaining mortgages. And faces the unsavory possibility of some hard time (several years) in what the Americans call the ‘Big House’.



http://iamfacingforeclosure.com/

3 comments:

gearoidmm said...

Hi Duplex,

Just to suggest that you add
http://globaleconomicanalysis.blogspot.com/
to your links list - good analysis of the US housing market going back a few months

Anonymous said...

I saw your post on iamfacingforeclosure.com.

Earlier today, Casey posted a message with a picture of his “Rich Dad” business address. I _found_ the business (he had blurred out the phone number and vehicle licence plate) but I made use of some interesting information he _forgot_ to delete.

I found the business to be:

Secure Tomorrow-Asset Protctn
(916) 978-4880 3636 Auburn Blvd
Sacramento, CA

The person who runs the business is: Paul Prestwich.

I believe his blog is garbage. A few hours after I posted my comment
“What does Secure Tomorrow - Paul Prestwich have to do with a Rich Dad and real estate?”

He did not post my comment and deleted the picture of his Rich Dads business.

Info about the Rich Dad:

Year Started:
2004

State of Incorporation:
N/A

Location type:
Single Location

Stock Symbol:
N/A

Stock Exchange:
N/A

Trade Style Names:
N/A

SIC Code:
8322-Individual and Family Social Services

Business Description:
Individual/Family Services

Estimated Annual Sales:
$61,000

Estimated Employees:
2

Estimated Employees at Location:
2

Contact Name:
Paul Prestwich

Contact Title:
Principal

Duplex said...

Thanks