Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on .

User Stats

1
Posts
0
Votes
Erin Smith
0
Votes |
1
Posts

Need advice on potential rental home in Florida. Sinkhole concern

Erin Smith
Posted

Here is my story..... I sold a rental home in Chicago area last year.  (I am by no means a seasoned investor.)  I have an opportunity to buy out other half of a vacation home in Florida.  Here are the figures:  Original investment on my part was approx 33,000.  I would need to pay another 55,000 to buy it out.  The home would get approx 125,000 if sold.  It could rent for 1050 per month.  Not by the water, 2/2. 1115 SF.  My hesitation is it is in Hernando County, an area known for sinkholes.  If I buy it and rent it it is possible that a sinkhole could develop.  As you know that would mean a devaluing of the property.  So my quandery is do I rent it out or should I just take the money, sell it and look for a rental elsewhere?   What would YOU do and why?