Buying tax foreclosed homes

Sounds like the guy buying this foreclosed home could also get screwed if the property prices go up as well.

I think his end game is selling the land onto property developers.

People in other countries don't have property taxes? What happens if they don't pay?
FWIW, you can always live on a houseboat. No "property" to pay taxes on. I used to know a guy that lived on one anchored in the middle of the river for years in the middle of a medium sized city. Never had a single problem.

Just like this, dumb nogs fooled into bail-bonds

youtu.be/TGomdoO368g

These guys are master capitalists, making money off black criminals.

If somebody could explain if I'm wrong I'd be really interested, since it does sound ideal if these are just misconceptions my folks had.

>property taxes
I'm from the UK. We pay taxes on property at the point of sale or if its inherited. At the current property price. We also pay council tax which is like 2/3k a year but its not as volatile enough to price you out of your home if the value increases.

Neets use the jews as an excuse to never do anything with their lives. Its the equivalent of a nigger arguing that the white man keeps them down so they never aspire to work hard and make something of themselves. You have a pathetic world view and will most likely never contribute anything significant to anyone's lives. I'd feel bad for you parents but they obviously did a shit job of raising you so they deserve it.

>when you realize your are the problem that you complain about.

same system here in NZ. But houses here cost min.200k . Not like 5-30k in detroit lol.

Detroit sucks

property taxes are extremely high and the economy is shit

people cant afford it and the homes go to waste

>for profit bail system
OH NO HOW HORRIBLE
PEOPLE ARE MAKING MONEY HELPING PEOPLE

fuck VICE

>buy house in shithole detroit
>owe back taxes
>probably have to condemn and demolish the house because of structural issues and meth labs

Thats why you buy your land and your home and then never make more than like 20k a year so you can collect food stamps and get your money back.

Only a kike can kavetch like this. The reality is that kikes are running a bank cartel in this country. And if you own land in the US, you are in the direct dominion of this banking cartel.

I'm pretty sure this is not a thing. Think about it, people would scam others into renovating their houses all the time.

The banks aren't dumb. Foreclosed homes get priced to the market. If the neighborhood if full of niggers, the value goes down. Plus good luck keeping the property in shape without investing all your profits just to stay afloat.

If its in a good neighborhood, bidding wars happen and it gets picked up by normal couples.

If you rent, the people have no stake in ownership and will trash the place. Then move out when it's unlivable/condemned by the city. You get a 20k bill to remodel, just so you can earn $100 a month above mortgage/taxes.

pay who?
how do you treat succession?
how isnt that turning into a living hell once power is fully concentrated?

The free market would determine the cost of the natural resources. The government puts up pollution rights (for example) at auction and people can bid on them. The money funds government.

It's possible but not likely. Bank are pretty good at due diligence and most buyers are advised to get "Title Insurance" to cover things just in case.

I have a rental, my brother has a rental. Mine happens to be in a shitty/ghetto neighborhood. I wish I had never bought it. It's a headache and the income never exceeds the costs. One visit they had plugged up the toilet. I go over to look, there is chicken fat, q-tips, etc in the toilet. Apparently they just like to flush shit down the toilet cause their niggers. Sure way to clog up a drain. They cooked with grease every fucking day. Big old pot sitting on the stove, spatter on the wall behind it, all the way up to the ceiling (10ft). Again, why would they care. Niggers are about as conscientious as sand niggers living in Calais. Once it becomes a shithole, they move without notice and don't pay final rent. Hell I had one tenant leave the house unlocked, windows up and come to find all the kitchen cabinets stolen.

After two back to back bad renters, my BS and sob story had its limit. I tell them to fuck off if they can't meet the terms. Anyone who starts making excuses. Take the application, they pay the app fee and just deny them.

On the flip side, my brother's duplex is in a nicer place. Which means nicer tenants but more city meddling. His city recently add more rules to the books about maintaining a property. Like a roof has to be replaced every 8 years or some fucking joke along with other things. Of course none of the other neighbors have to adhere, just landlords. Less shitty tenants but pay out the ass for unwarranted items.

And since it's a very tight market, you won't be making more than a hundred or two per month. Which get's eaten up by anything pretty quickly.

Buy house in detroit.
Day #1 clear shit out. realize all copper plumbing is gone.
Day #2 plumber comes and starts installing copper plumbing.
Day #3 Plumber is back to finish. Everything installed was already stolen. More nogs come and murder you and the plumber. Steal all your shit and all the copper he brought. Scrap the copper pawn your tools and shit. Use your vehicles for joy rides and robberies dump them in alley.
Demo all these shitbag houses and deport all the nogs to mexico.

>>free land + passive income
You don't get the land, you still have to pay lease for it. You just get the house which will have to be torn down in 20 years.