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Author Topic: Anybody want to buy a few house  (Read 620 times)

never_retreat

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Anybody want to buy a few house
« on: August 06, 2012, 11:10:14 PM »
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I needed a mod to change my signature because the concept of "family friendly" eludes me.
Just noticed that a mod changed my signature. How long ago was that?
A few months-mods

Tallpine

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Re: Anybody want to buy a few house
« Reply #1 on: August 06, 2012, 11:13:08 PM »
The Kingdom of McMachen  ???
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vaskidmark

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Re: Anybody want to buy a few house
« Reply #2 on: August 07, 2012, 05:19:08 AM »

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He says he plans to donate the properties he can't sell to needy organizations.

Read more: http://www.foxnews.com/us/2012/08/06/millionaire-buys-every-foreclosed-home-in-michigan-county-for-48-million/#ixzz22qlfq32I

So maybe he plans to sell them off and donate the ones he can't move to "needy" organizations?  Might there be some tax implications there?

And just what will the "needy" organizations do with residential property that's more than likely restricted by zoning from many of the activities regularly engaged in by "needy" organizations?  I'd really love to be there to watch when someone tries to open a group/congregate home in one of those properties.

stay safe.
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MechAg94

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Re: Anybody want to buy a few house
« Reply #3 on: August 07, 2012, 02:40:47 PM »
Quote from: vaskidmark on August 07, 2012, 05:19:08 AM
So maybe he plans to sell them off and donate the ones he can't move to "needy" organizations?  Might there be some tax implications there?

And just what will the "needy" organizations do with residential property that's more than likely restricted by zoning from many of the activities regularly engaged in by "needy" organizations?  I'd really love to be there to watch when someone tries to open a group/congregate home in one of those properties.

stay safe.
Since they are donated, I would assume they would sell them cheap to raise money.
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makattak

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Re: Anybody want to buy a few house
« Reply #4 on: August 07, 2012, 03:14:56 PM »
Quote from: MechAg94 on August 07, 2012, 02:40:47 PM
Since they are donated, I would assume they would sell them cheap to raise money.

Or, depending on the organization, fix them up to provide a house for a wounded vet or some other deserving poor. (Probably cheaper to fix a house than to build one like Habitat for Humanity does.)
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S. Williamson

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Re: Anybody want to buy a few house
« Reply #5 on: August 07, 2012, 06:50:50 PM »
Many of these houses lower the property value more than if it was an empty lot due to extreme disrepair.  It ain't pretty...  =(

http://www.trulia.com/MI/Detroit/#for_sale/Detroit,MI/price;a_sort
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