This Man Bought 200 Foreclosed Homes To Save His Hometown From RuinSubmitted by meekandmild on Tue, 04/02/2013 - 14:02
Forty miles outside Chicago, Tom Roeser is participating in a large-scale version of "Flip This House."
As CNN Money's Les Christie reports, Roeser, president of the town's largest employer, OTTO Engineering, has been scooping up dozens of foreclosed properties for the last several years.
But instead of following the typical real estate investor path –– first renovating and then flipping the homes for a massive profit – Roeser's only mission is to make sure his hometown of Carpentersville, Ill., stays afloat.
"I couldn't afford for Carpentersville to become Detroit," he told CNN Money.