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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 tha

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?