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Updated over 8 years ago,

User Stats

209
Posts
57
Votes
William Huston
  • Trinity, FL
57
Votes |
209
Posts

Sinkhole Property: Are they not worth investing in?

William Huston
  • Trinity, FL
Posted

I have been scouting out multi-family homes in my area and found one that is already 100% rented out, the rent is far more than the mortgage would be based on numbers, but it's been on the market for a good chunk of time. I called up the listing agent to get info on the property since it's located over an hour away from me and he stated that it had a sinkhole claim done on the property years back and the foundation had to be repaired. 

I am trying to understand why this property is not selling solely based on the info i know.. 

Numbers:

4 x 2/1 units @ $675

asking price $85k

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