$3m in Foreclosures Bought 24

scandalSomeone is putting his money where his mouth is in Detroit. That’s an unlikely place for a $3.1 million bid for 6,000 foreclosed homes. But it happened and investors are shocked.

An anonymous investor paid the minimum $500 per property and snatched up a nice selection of homes. Is this a smart move? Is this going to cost him big in the long run?

Only time will tell. But I’m proud to see people giving hope to Detroit and investing in the economic recovery. More power to him!

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