3 ms·
He bought 74 houses at an average price of $2000 each. I'd suspect many of not most of them were in uninhabitable condition, at least without additional investm
by ac29 3y ago
He bought 74 houses at an average price of $2000 each. I'd suspect many of not most of them were in uninhabitable condition, at least without additional investment and maintenance.
- lostlogin 3y agoI wonder what property tax is like - this would amount to more than the purchase price if it’s anything like as high as where I am.
- b112 3y agoProperty tax is often indexed to property value.
- b112 3y agoIt depends. Where I live, the city is legally bound to seize and then auction off houses for unpaid property tax. There are even interesting things, such a legally mandated grace periods, and the original owner can buy back up to one year after auction. And this sure sounds like a place where property taxes might default.