Quote:
Originally Posted by Hallsy's Toupee
Why the hell would anyone even want to sell a used jockstrap to this guy, never mind property? You'd have to reach a rock-bottom level of desperation to deal with him. And why is it that our laws don't freeze the assets of a convicted felon, or block any deals he's making?
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Distress, bank sales, foreclosures... Sellers don't care who buys it as long as they get their money
I spoke to several developers last year who are very active in small scale infill in the city, they were frustrated because this guy and others like him bid up prices on redevelopment properties. The properties are sold as redevelopment but not redeveloped though.. They are used as bottom of the scale rental housing. This stuff exists almost everywhere but it's a big problem when it's concentrated. Which may now be happening south of the river, we know of several sfh & duplex properties picked up but also one 11 unit apartment building. Those types of properties are particularly impactful and can bring a neighbourhood down quickly