When it comes to real estate, Milwaukee is being shilled by a group of real estate investors. They do not invest in high quality property. They invest in foreclosed properties that the sheriff puts up for sale every week. Usually the properties need work and sometimes the new owners do some minimal repairs. The properties are rented.
Often the renters complain about the conditions of the apartments and the building inspectors order repairs. Municipal judges may issue fines but often allow extended payment schedules. But the owner seldom pays the entire fine, he makes a minimum payment allowed by the court. The court can put a lien on the scofflaw's assets and issue an arrest warrant. But the warrant has little consequence and the lien has an impact only if the property is sold.
The owner does not pay property taxes and after three years the city seizes the property — which wipes out the tax debt. And the city must bulldoze, repair or sell the house.
A simple but effective money maker.
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