Are you an investor? Or are you a homebuyer looking to save a few bucks?
If you are, then we hope you don’t show up at a tax auction with Bill McMachen. He’s the Michigan millionaire who showed up at the Macomb County auction and bought all 650 tax-foreclosed homes for $4.8 million. That’s $7,384.62 per home!
Hundreds of investors and prospective homebuyers expressed anger about being shut out of the bidding. Mr. McMachen is still allowing the other buyers to purchase the homes.
It is estimated Mr. McMachen will make in excess of $2.0 million. Can you say: Flip this county?