Tale of $16 house Makes Man Money While Amtrak Sells $16 Burger
Amtrak's $16 burger and Kenneth Robinson's $16 House
FLOWER MOUND, TX - In February of this year, Nomaan Merchant reported for the Associated Press about a man - Kenneth Robinson - and how he had managed to move into a nice, modern home for only $16 with a weird, little known law.
Unlike the $16M for a Pacific Heights home that Zynga Founder Mark Pincus Shelled Out recently, Robinson found a little known law that allowed him to move into an abandoned home. The cost to file the paperwork? Only $16.
Before getting too excited, it is important to note that many are saying he is misusing and abusing laws that are currently in place.
"It's been a huge learning experience," Robinson said in a phone call with reporters at the Associated Press.
Under a new adverse possession law, he was able to file paperwork and move into a two-story 3,200-square-foot home with a backyard pool. When signing the paperwork, he agreed to pay taxes and home owner's association fees. However, he has since moved out right before the bank come to repossess the property.
He has been running a website - http://16dollarhouse.com - but has not disclosed how much money he is making on the website selling ebooks and other information about how he got his $16 house.
Meanwhile, Amtrak is losing millions a year by selling a $16 burger for $9 - which doesn't make a lot of sense either.