For $4.8 million, a former yacht dealer snagged each and every foreclosed property available for sale at a Michigan county auction.
To the dismay of eager investors, Bill McMachen bought all 645 foreclosed properties at a tax foreclosure auction in Macomb County, the Detroit News reported Friday. Among the properties bought, 403 were residential, 235 vacant land, and seven were commercial. The Detroit News also reported some 300 other investors were at the auction hoping . . .
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