Michigan millionaire buys all foreclosed homes at auction for $4.8 Million

MyFoxDetroit.com reports Bill McMachen, a businessman and former yacht dealer, paid about $4.8 million for all 650 tax foreclosed properties at Macomb County’s July 31 sale. He upset quite a few number of other investors that were willing to pay more for the homes. The Michigan County government settled on receiving the back taxes instead.… read more →