Updated almost 12 years ago on . Most recent reply
Macomb County Tax Auction - 1 Buyer bought all properties AGAIN
Hi all you fellow SE Michigan REI's. Well I got some very juicy inside news this morning. Thought it was going to put me into a sweet position of wholesaling and flipping some properties in Macomb County.
After getting my tip of who bought them, I contacted him directly. Was passed around to 2 other people just to find out that the company that was formed for the purchase will be rehabbing to some extent at least, ALL of the properties before reselling them. Some will be full rehabs others will be small renovations. None are planned to be sold at this point without some kind of work being done to them.
Properties will start to come on the market through Real Estate Agents Only in about 6 months!! I have been added to what is most likely an already mile long list of investors trying to buy the properties "as is".
How can little guys like me compete with this kind of competitor!!??
Something like $2.3 million dollars this time and ove 340 houses and lots were sold....
Most Popular Reply
I know there are differences between states/county, but what about buying from the owner, right before auction and paying off the back taxes? That would be an option for the single investor