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Comment by VoodooJuJu | Hacker News Reader

>I ended up buying about 75 more properties here

You have the kind of money to casually buy up all this real estate, but you still went bargain-hunting for a warehouse? This reads like some kind of LARP or joke.

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I bought the warehouse before I really had the money to do it. I was scraping by on ramen for a while.

Buying the others was honestly WAY, WAY, WAY cheaper than you'd expect. I almost didn't feel like I had a choice it was so cheap. Spent about $130k at a tax auction to get them all.

It almost feels like land is the only thing they can't steal around here.

Pine Bluff's population has declined by 50% over the last few decades, presumably the reason they were so cheap is that there's a huge supply surplus? And given the murder rate is 10x the national average I don't see demand for property increasing. In short, run for the hills!

That place needs to rename into Pine Hoax

130k at tax auction for double digit # of properties, what's the annual property tax for all that?

About $8k per year. Most were bought for just back taxes, so I basically paid 5 years taxes on them. A couple of them were bid up, so the taxes are less than 1/5 what I paid.

Ah I see that is pretty cool then. Wish you the best in your ventures there.

You bought the other ones because they're cheap... but what is the actual gain you expect to get from those properties? $130K is still money, is there a plan to recoup that investment or was this a FOMO purchase?

So now he has to buy/build a police station, fire brigade etc for his own little town of 75 properties he created.

Just put the police and fire stations inside a little square of industrial or commercial buildings.

And build one unit of transit next to them, it doesn't matter if the road or rail is connected.

Judging by the content on his Twitter account he seems legitimate

Isn't the bargain hunting mentality what got him to buy so many properties?

Perhaps there’s some logic in thinking that once your stake is big enough the local politicians will start cooperating with you … ?

(Clay Davis has entered the chat)

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