PUBLISHED: 15:11 EST, 5 August 2012 | UPDATED: 00:40 EST, 6 August 2012 A wealthy former yacht dealer has snapped up every foreclosed home in Michigan's Macomb County, paying the cut price of $4.9million for a whopping 645 properties. Bill McMachen handed over a measly $7,500 on average for each of the properties, of which 403 are family homes, and he's now being bombarded with emails from prospective buyers. 'It's overwhelming,' McMachen told the Detroit News after Tuesday's transaction. 'I'm having a hard time keeping up with them all.' SCROLL DOWN FOR VIDEO Bargain: Former yacht dealer Bill McMachen, pictured, bought every foreclosed home in Michigan's Macomb County for $4.9 million
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Bill McMachen bout 645 properties in Macomb County for $4.9million
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Authorities allowed the transaction when he agreed to pay the backtaxes on all of the foreclosed homes
In an arrangement with the @placeholder, McMachen agreed to take all the foreclosed homes authorities didn't want off their hands in exchange for paying back all taxes owed.