310 Homes Bought for 2M - $6.5k/Home
I don't know how else to sum this up but was blown away when I just saw this 10 minute Vice - report on how Detroit is a heaven for investors buying off owner-occupied homes who fail to pay city-county taxes. Wayne county penalizes these residents and VOILA - its a heaven for investors scooping up entire neighborhoods for pennies.
Still don't believe me? Watch below.
www.youtube.com/watch?v=gHLaWw_PnQY
A quick realtor.com check doesn't show me much of these but i am sure folks on BP here would have bought from the state-auction website - anyone in here can please shed some light on how to go about scooping such cheap hell of a deal(s) through state auction websites?
Other than having the cash-reserves ready and battling it out in the auction, what else is required?