When I bake my cakes, they come out with like folds on the sides...sort of like they rise and fall and rise again.. any suggestions??

idk for sure -- too mush grease? try not greasing your pans just use parchment on the bottom -- then just run a knife around it to release it from the pan -- another thought is that you might want to try a different recipe? maybe

Sounds like too much liquid in the batter

Tell everyone your recipe and they can probably tell you if there is too much liquid in it.

Overbaking?

I really do think that it's too much liquid.  I'm most definitely not an expert/pro baker, but because of that, I frequently have random issues like this that I have to trouble shoot myself.  I had the exact same issue with one of my cakes folding on the side and found this link after I scoured the internet for a while: http://www.nzbakels.co.nz/services/customer.cfm?content_id=362. Sounds like the "X" fault.

They sink on the sides because you did not cool them upside down whilst still in the pan and because as K8Memphis said you  have greased the sides and they slid back down.