I know someone who will sell you Florida swampland...by Geniusofdespair

Okay what is going on here?
Bullet Cement bought this 5 acre parcel in the photo for $15,000 in 1/2007. It looks to be underwater. The large 636 Acre parcel above it was an endangered land purchase (EEL) by the county and below Bullet's piece is another EEL land purchase. I would suppose the county will pay Bullet at least $30,000 for its 5 acres — at a later date. When they realize what is going on with Bullet.

I found an underwater parcel, tax number 30-8915-000-0120, way South on the way to the Keys. It is 5 acres and it sold 2/10/06 from a dissolved corporation (Waterbury Holding). Computing from the Deed Document tax it sold for $100 to Bullet Cement. Don’t think the selling price is accurate because it was a quit claim deed transfer between companies with the same owner.

Then Bullet sold the property to a couple in Pembroke Pines on the same day for $55,000 holding a $44,000 thousand dollar mortgage for them (7%). In January ‘07 the couple were served with a foreclosure notice. In March '07 the couple served civil papers on the Bullet Cement Company in Coral Gables. The Pembroke Pines couple are in Bankruptcy.

Bullet sold a 5 acre parcel 30-8913-000-0420 to a Miramar couple for $50,000 in February 2006 with a $37,500 mortgage. Bullet owns the parcel next to theirs which Bullet bought at a tax sale in 2003 for $832.93 from the County. March 2006 Bullet sold another very small piece to a couple from Miami for $39,000. He gave them a balloon mortgage of $23,166.44. And the list goes on. There are 249 property transfer records for Bullet on the Clerk's website.

Bullet bought property 30-4903-004-0050 for $1,627 in 2003 again for taxes. They bought many other parcels from the county. Waterbury also bought many of these soggy parcels from the county for taxes. The incredible thing is: This land went for pennies and the County and Army Corps should have gotten there before Bullet/Waterbury. The County has been buying land all around these parcels so how could they let these go? I think it is a matter of the right hand not knowing what the left hand is doing. Back to our story...

Bullet is selling some of its underwater land back to the government for the Everglades restoration project: parcel 30-5816-000-0507 for $60,000 (for the Modified Water Delivery Project). The Feds also bought 30-5816-000-0001 for $111,700 and a third...and a fourth -- the Army Corps bought 6 total from Bullet. You get the idea by now. This underwater land is good for nothing, except selling it back to the government. So we have a situation here where a person is jacking up the price of this swampland with these sales. And why are we selling land in tax sales so then we have to pay more to buy it back? This is too much wasted research on my part.

All you have to remember is - a company is buying land in 2007 (Photo above) during the bust and the land is underwater and they are still making money! In the end, however, the dollars are coming out of our pockets.