Sinkhole Properties
Hi I am a newbie and was told to try my hand at investing in sink hole properties
has anyone ever done this? If so I am just curiouse as to how the whole process works. I have seen a few deals after they were done and the numbers looked awsome!!! I am just interested in hearing of any experiences with sinkhole properties..
do you mean "rehab properties"?
I think I remember that a sinkhole in Florida is a radical subsistence of the land because the limestone underneath has been disolved in the high water table. But I have no idea what a sinkhole property is unless it is the resulting lake or pond.
Help us poor yankees out and translate this question into english .
commercialking,
Everything you wanted to know about sink holes and things you didn't.
http://www.sinkhole.org/
There are plenty of bandit signs here in Florida "We Buy Sinkhole Properties", no stone is left unturned in the creative investing industry.
John $Cash$ Locke
PS: powerinvestments2004, Glad to meet you and you too.
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"If people like you they'll listen to you, but if they trust you they'll do business with you."[ Edited by JohnLocke on Date 04/12/2004 ]
The people I have come across who deal in sink hole properties do not fully disclose. Someone sells it to someone who sells it to someone who sells it to someone, and someone forgets to tell someone that it is a sinkhole property.
Sink hole is a soft spot in the ground which causes the house to sink. It can be profound of very slight. Usually notice it uneven floors or uneven doorways. Outside you can see cracks through the cement block or the cement block seperates or shifts.
Brenda
Sinkholes in Florida can mean anything from an open cavity to just minor cracking. Before buying any sinkhole home be sure to look at the engineering log to find out how bad the soils are. Most can be fixed but some are just not worth the headache.
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