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>I ended up buying about 75 more properties here You have the kind of money to casually buy up all this real estate, but you still went bargain-hunting for a w

>I ended up buying about 75 more properties here You have the kind of money to casually buy up all this real estate, but you still went bargain-hunting for a warehouse? This reads like some kind of LARP or joke.

missedthecue 4y ago
Judging by the content on his Twitter account he seems legitimate
jbverschoor 4y ago
So now he has to buy/build a police station, fire brigade etc for his own little town of 75 properties he created.
- paulcole 4y ago
  Just put the police and fire stations inside a little square of industrial or commercial buildings.
  - GLGirty 4y ago
    And build one unit of transit next to them, it doesn't matter if the road or rail is connected.
navane 4y ago
Isn't the bargain hunting mentality what got him to buy so many properties?
- implements 4y ago
  Perhaps there’s some logic in thinking that once your stake is big enough the local politicians will start cooperating with you … ? (Clay Davis has entered the chat)
  - andrepd 4y ago
- deleted 4y ago
  [deleted]
pontifier 4y ago
I bought the warehouse before I really had the money to do it. I was scraping by on ramen for a while. Buying the others was honestly WAY, WAY, WAY cheaper than you'd expect. I almost didn't feel like I had a choice it was so cheap. Spent about $130k at a tax auction to get them all. It almost feels like land is the only thing they can't steal around here.
- phpnode 4y ago
  Pine Bluff's population has declined by 50% over the last few decades, presumably the reason they were so cheap is that there's a huge supply surplus? And given the murder rate is 10x the national average I don't see demand for property increasing. In short, run for the hills!
  - type0 4y ago
    That place needs to rename into Pine Hoax
- rngname22 4y ago
  130k at tax auction for double digit # of properties, what's the annual property tax for all that?
  - pontifier 4y ago
    About $8k per year. Most were bought for just back taxes, so I basically paid 5 years taxes on them. A couple of them were bid up, so the taxes are less than 1/5 what I paid.
    - rngname22 4y ago
      Ah I see that is pretty cool then. Wish you the best in your ventures there.
- azernik 4y ago
  You bought the other ones because they're cheap... but what is the actual gain you expect to get from those properties? $130K is still money, is there a plan to recoup that investment or was this a FOMO purchase?

missedthecue 4y ago

Judging by the content on his Twitter account he seems legitimate

jbverschoor 4y ago

So now he has to buy/build a police station, fire brigade etc for his own little town of 75 properties he created.

paulcole 4y ago
Just put the police and fire stations inside a little square of industrial or commercial buildings.
- GLGirty 4y ago
  And build one unit of transit next to them, it doesn't matter if the road or rail is connected.

navane 4y ago

Isn't the bargain hunting mentality what got him to buy so many properties?

implements 4y ago
Perhaps there’s some logic in thinking that once your stake is big enough the local politicians will start cooperating with you … ? (Clay Davis has entered the chat)
- andrepd 4y ago
deleted 4y ago
[deleted]

pontifier 4y ago

I bought the warehouse before I really had the money to do it. I was scraping by on ramen for a while. Buying the others was honestly WAY, WAY, WAY cheaper than you'd expect. I almost didn't feel like I had a choice it was so cheap. Spent about $130k at a tax auction to get them all. It almost feels like land is the only thing they can't steal around here.

phpnode 4y ago
Pine Bluff's population has declined by 50% over the last few decades, presumably the reason they were so cheap is that there's a huge supply surplus? And given the murder rate is 10x the national average I don't see demand for property increasing. In short, run for the hills!
- type0 4y ago
  That place needs to rename into Pine Hoax
rngname22 4y ago
130k at tax auction for double digit # of properties, what's the annual property tax for all that?
- pontifier 4y ago
  About $8k per year. Most were bought for just back taxes, so I basically paid 5 years taxes on them. A couple of them were bid up, so the taxes are less than 1/5 what I paid.
  - rngname22 4y ago
    Ah I see that is pretty cool then. Wish you the best in your ventures there.
azernik 4y ago
You bought the other ones because they're cheap... but what is the actual gain you expect to get from those properties? $130K is still money, is there a plan to recoup that investment or was this a FOMO purchase?