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650 properties purchased for 4.8 billion in Detroit

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  • Description

    Millionaire enters real estate market

  • Duration 2:29
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-- home sold in a matter of minutes to the same person.

The -- complain that they didn't have a chance to even bid tonight the man who bought it all tells fox -- Alexis wiley what he plans to do with all those houses.

This is one of the properties that was up for auction -- -- -- county Tuesday.

It doesn't look like much but I guarantee you there were some people with their -- on it it went so one businessman and he tells me.

You're interested in buying this property -- still be yours.

Yeah I mean do they know it's been got to pay all the back taxes it was -- and that's with the kind of looking for.

Meet bill -- Mac and he's a well known McComb county businessman former -- dealer.

And former owner of Mac-Gray harbor but today he's -- another distinction to that list he is a man who for the first time McComb county history.

Purchased every piece of property at a county tax -- people like this Canadian investors spent weeks studying real estate preparing their -- And they were not too happy to see at all go to one guy.

The price we were willing to pay and it's like to be three to four times -- did ask him.

But at the start of the auction McComb county officials announced that all 650.

Properties could be brought together for the price of it delinquent taxes.

Which adds up to about four point eight million dollars of course most of the investors didn't have that kind of cash.

But -- Mac and did.

And he was the only -- enduring the backs he had to walk past the budget people as you're walking into the -- what was their reaction.

If we knew was gonna happen like this -- any of them spend any time -- waste -- -- People took this off from their -- and they were prepared for this.

-- -- -- Mac and plan to deal with all that real estate -- and what he can't sell he may just donated to -- parties in the end nick Matt -- and his business partner expect to make at least two million dollars off their investment.

Less than 24 hours after the auction big Mac -- been flooded with emails from investors who still want to make a deal.

They can still buy the property from me probably for about the same price -- at a -- -- at the auctions because there's no hype doesn't -- at a realistic price.

And they can within society for them to pay for it -- can't do that the counting.

-- if you weren't auctioning -- -- take a look at these properties.

They are still online will post a link on our website -- -- to try to dot com as well as information on how you can get in touch.

With mr.

-- Mac and in -- come county I'm Alexis -- fox T.

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