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Millionaire scoops up all 650 homes in Michigan county's foreclosure auction
2012 Aug 6, 11:49pm 6,886 views 13 comments
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DinkinsBay
2012 Sep 23, 6:23am
If this guy is buying homes in Detroit or Wayne County, he is a fool. If on the otherhand he is buying waterfront properties, he is a very wise man. The lakes and rivers in Michigan are absolutely gorgeous and it's a boater's paradise. And.....they are not giving them away!
Cautious1
2012 Sep 23, 6:51am
they are not giving them away!
That would mean a price less than 1 cent.
They "gave" these away for the cost of back taxes, an average of $7385 per property. Mr. Mogul says he'll cull the unsaleable ones by giving them to charity, which will give him a nice tax write-off.
A can't-lose in a rigged game.
Cautious1
2012 Sep 23, 6:53am
The millionaire buying the homes is just doing it to show off (get chicks).
You did click through to see his picture, right?
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http://nalert.blogspot.com/2012/08/millionaire-scoops-up-all-650-homes-in.html
#housing