Fancy Pants Foreclosure Investor Loses $82000

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St. Louis short sale investor Shaun McCloskey tells of a recent investment eal in which he lost a heartbreaking $82000 — and the lessons he learned from it.

25 Comments For This Post

  1. mrhowardb Says:

    Wow…..Thank you for your brutal honesty… Its unheard of really.

  2. peilthetraveler Says:

    @brnoamik Isnt that nice that YOU will NEVER have to worry about losing that much money in your life. You will never have to worry about losing more than that gummint check they send you on the first! 🙂

  3. babymaradona1 Says:

    @brnoamik nigger shit

  4. buyhousesinkc Says:

    GOOD POST

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  7. brnoamik Says:

    hahaha dat white boy stupid haha

  8. DanTheRealEstateGuy Says:

    Excellent Video/Story for the new guy in the business. After 25 years of buying and selling Real Estate, I know how important Training is for the New Guys so they can Avoid this type of loss. I did over 1,000 deals before lossong money on one but only lost a little NOT Big money like this “lesson”. Good Reason to Do “bread and butter” deals NOT Big houes. Buy and Sell the price range that Most of your market wants for less Risk. DanTheRealEstateGuy

  9. vista59 Says:

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  10. the1andonlytravis Says:

    I have a few homes I need to get rid of for ASAP for only 20k they are already rented out for 500 a month. Add me on facebook and send me a message Travis Garlick

  11. the1andonlytravis Says:

    I have a few homes I need to get rid of for ASAP for only 20k they are already rented out for 500 a month. Add me on facebook and send me a message Travis Garlick

  12. CardinalSinga Says:

    I attended a Robert Allen seminar and he cautioned people not to go into a real estate deal without checking things out, particularly if you are investing in a locality where you or members of your investing circle have no in depth and comprehensive knowledge and info.

  13. 407buddy Says:

    STOP paying your debt, (we) the people do have the power: just stop paying (and playing their game). It would be interesting to see who’s got who by the balls, it’s all just a little scammed poker game,…isn’t it?

  14. themagicofcoupons Says:

    Shaun McCloskey didn’t finished his statement about the bank?

  15. themagicofcoupons Says:

    Thanks for sharing?

  16. 7129098 Says:

    foreclosing?.Get all the paperwork and knowledge you need to use the produce the note and even more power to stay in your home, for just 198. Dont pay several hundreds or even thousands, go to stop or delay foreclosure online, and use the discount code 7128098. This washington dc agency gave me everything I needed to have the needed leverage to get my lender to deal fairly with me. you can also find them online at homeowners assistance info, and remember to use your discount code 7128098,

  17. luna752008 Says:

    I’m very proud of him sharing his experience. He’s right…no one wants to admit they failed. But you are such a trooper and a true success!

  18. GypsyKing7 Says:

    Why would you start at the High end?!!! Unbelievable!

  19. TomVu99 Says:

    put your money in gold and silver

  20. bballcardcollector09 Says:

    ouch!!!!

  21. maximusbiz Says:

    thanks for the honest post. This was the best post i have seen on youtube. no hpye, no lies, nobullshit, just uncut truth. thank you thank you

  22. rynoskin Says:

    I’m curious how you were able to recover from such a huge mistake? Could you tell us a little about the deal you did immediately after this one? What was your next step? I mean how were you financially able to go buy something else while having such a huge loan on the first one and losing $500 every month on it?

  23. arytonjames Says:

    whatever……crook.

  24. hucky22 Says:

    LOL U can say that again.

  25. DontPanic6X7 Says:

    Thanks for the useful info.
    I am looking into REI…don’t need a “no money”
    scheme or to get rich overnight. Flipping=scary.
    – Where do I learn nuts/bolts of basic
    rental prop. purchasing/pricing/rent setting guidelines???, Thanks

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