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View Full Version : Note to Self; no more get rich schemes



C-2
02-20-2007, 11:33 PM
Anybody else seen this blog about the 24year old RE investor? It's sadly entertaining, but sad and entertaining nonetheless.:(
HSBC, New Century, ResMae, OptionOne and today, Nova Star. All in full meltdown, you think guys like this contributed?
http://iamfacingforeclosure.com/

Sportin' Wood
02-21-2007, 06:46 AM
leverage is a beautiful thing:D

catman-do
02-21-2007, 07:57 AM
Of course these guys have a bit to do with the changes going on in the industry. On the level that he was doing it i would say is more on the uncommon side, but all the individual speculators that jumped in and tried to make a buck on a single property, or even their o/o property. Im with BNC and even though we havent seen as much as some of the other lenders, we are still getting hit pertty hard. Thank god for Lehman Bros

HocusPocus
02-21-2007, 07:59 AM
thats just one guys story.... wonder how many like him are out there?