Investor
From CaseyPedia
An investor is defined, quite simply, as person who makes investments. Traditionally, an investor does significant work at identifying lucrative investment opportunities, understanding the risks and consdering the total costs and benefits over time.
Casey Serin has defined himself as an investor despite the fact that he repeatedly purchased properties, all the while:
- never actually investing; i.e. putting his own personal capital at risk.
- knowing virtually nothing about their real value.
- not factoring in the costs of refurbishing the properties for resale.[1]
- attempting to act as an investor in an illegal manner by committing mortgage fraud eight times.
- with most property transactions, the primary consideration was the ability to generate "cash back at closing." Because the mortgage lenders were not notified about this cash back per Purchase and Sale Contract and/or addendum, this practice is also illegal.
Many of the Haterz™ have pointed out that Serin is not an investor; rather, they define Serin as a speculator hoping for a quick and effortless profit in a rising market. His insistence on continuing to define himself this way has been a major source of criticism.
To date, almost every investment Casey has made, including the as-of-yet unverified gold stock purchase, has been an unmitigated disaster resulting in a sharp financial loss for both Serin himself and Serin's creditors. The lone exception appears to be the sweet deal involving the dilapidated shack in Durham NC, which netted about $500.
