Millionaire Buys All Of Town’s Foreclosed Homes

Broken News Daily
September 16, 2013 AT 1:15 AM
Bill McMachen, a Michigan businessman, bought all 645 tax foreclosed properties on auction in Macomb County. The bulk buyer paid $4.8 million for the property, getting each piece for around $7,500. McMachen should make $2,000,000 on the deal, but he also gained the hatred of 300 bidders in the process.