It's my experience that there are more Bad than Good! That my friends will never change.
Property Investors: Solving or Contributing to Neighborhood Blight?
A report released by the Federal Reserve Bank of Cleveland says many cities are being hurt by irresponsible behavior of investors who purchase homes at a low cost and sell them quickly at a small markup without regard for back taxes on the property that need to be paid.
The report shows that 31 percent of foreclosure properties bought by large investors from 2007 to 2009 were still vacant in June 2010. Not only that, 44 percent of properties purchased by large investors in 2009 were delinquent when analyzed again later, despite having been current the previous year, meaning the large investors bought the properties with no intention of ever paying the taxes.
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