Millionaire Buys All Of Town’s Foreclosed Homes

Mon, Aug 6, 2012 7:10 PM EDT - 1:36

Bill McMachen, a Michigan businessman, bought all 645 tax foreclosed properties on auction in Macomb County. The bulk buyer paid $4.8 million for the property, getting each piece for around $7,500. McMachen should make $2,000,000 on the deal, but he also gained the hatred of 300 bidders in the process.