Millionaire buys every foreclosed home in Michigan county for $4.8 million | Fox News

That's a lot of junk real estate at a cheap price. I bet he doubles his money on it, lots of work though to sort threw that many parcels.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Can't most of those houses be redeemed by paying the taxes within a certain period after the tax sale? I thought that was the process when I bought something at a county tax sale years ago. So if the people who wanted to bid on the property cut a deal with the owner to give them the money to redeem the property and then sell it to them afterwards, it seems like it could be done.

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1977 300d 70k--sold 08
1985 300TD 185k+
1984 307d 126k--sold 8/03
1985 409d 65k--sold 06
1984 300SD 315k--daughter's car
1979 300SD 122k--sold 2/11
1999 Fuso FG Expedition Camper
1993 GMC Sierra 6.5 TD 4x4
1982 Bluebird Wanderlodge CAT 3208--Sold 2/13

If the houses were up for tax sale, why would you assume that the owners have the money to buy them back, if they don't even have the money to pay off their R.E. taxes? $4.8MM/650 = an average $7,384 tax debt per house.

I don't know I don't deal in low value real estate like that.

In my city when the do foreclose, which is rare the city does take possession of the property. They pretty much after that keep it forever, once in awhile they auction something off but its rare.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

It depends if Michigan has right of redemption. In Texas, you WANT them to buy it back (homesteaders have 2 years) because there is an automatic 25% penalty paid to the guy that bought the tax lien at auction. Easy money.

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MB-less

Big money has successfully been into apartments for years. They are positioning into single family housing. Big moves with government intermediaries, familiar MO.

The richest are getting richer and the rest are slaves.

We have redemption here in Indiana.

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.

It is now almost impossible for an average guy to buy a large decent apartment building in Canada. The real estate arms of the grocery chains grab them as fast as they can get their hands on them. About your only option here is to build one now.

Our real estate prices locally continue to climb or at least hold up. Even though quite a few empty homes are in the surrounding area. The empty houses seem to be the result of part of the local population going west for high paying jobs. What I consider modest skills pay at least a hundred an hour out there.

A recruiter from out west approached me a few years back. The total package was good. Seventeen thousand a month to start with housing and food provided. Back then tim hortons staff were paid in excess of twenty five dollars an hour out west in superheated areas I was told. True or no I have no ideal. Yet certainly plausable. It probably took more than that just to survive there. I wonder what the coffee from those outlets cost. I decided not to go anyways with no regrets. You only live once and even then I was getting a little long in the tooth in my opinion so to speak.

A segment of our younger population are still leaving.. I often wonder what would occur if the boom with the oil sands stopped. Oil below a certain threshold price would do it. Calgary experienced a simular collapse many years ago for the same reason. That oil sands boom by the was probably responsable for Canada weathering the 2008 downturn better than the states. The ecological damage from strip mining the oil sands is signifigant. To me the air or satalite photos look like the surface of the moon.