Flint's land bank: cheap lots and fixer-uppers, with a catch

Flint has been hit hard by tax foreclosure and vacancy — at its peak the city had tens of thousands of empty or abandoned properties — and out of that grew the Genesee County Land Bank, one of the first and most-copied land banks in the country. Here’s why it matters to a buyer. When a property’s taxes go unpaid and it doesn’t sell at the county auction, it lands with the Land Bank, which has owned or handled a huge share of Flint’s vacant lots and houses. The Land Bank sells these, often very cheaply, to get them back into use and back on the tax rolls. Two programs are worth knowing about. If you buy a home in Flint and the Land Bank owns the empty lot right next door, you can usually buy that lot as a side yard for about $150 total — a cheap way to get a bigger yard or a buffer. And through its “Ready for Rehab” program, the Land Bank sells vacant fixer-upper houses for as little as $1,000 to $3,000. The catch is real: these homes are in rough shape and need serious work, you have to tour the property and show income before buying, and you’re expected to actually live in or restore them. So while you can buy a Flint house for the price of a used car, budget honestly for the rehab. It’s also worth remembering that all this vacant property is part of the landscape — many blocks still have empty lots and houses, which is something to weigh when you pick a neighborhood.