[Calc Review] - Just sharing a deal :)
This seems like a good BRRRR. Area is changing, and improving and is near Fort Bliss.
*This link comes directly from our calculators, based on information input by the member who posted.
@Humberto Valle taxes seem out of whack. Didn't know taxes were 6.5% of arv. My capex and maintenance reserves have $150 bare minimum. Out of area buyers would need to figure 10-12% for management.
Quote from @Tim Herman:
@Humberto Valle taxes seem out of whack. Didn't know taxes were 6.5% of arv. My capex and maintenance reserves have $150 bare minimum. Out of area buyers would need to figure 10-12% for management.
Hi Tim, taxes are not normally calculated off the property itself usually. A combination of city growth rate/cost with percentage attributed based on property factors (CMA-like) is what determines how much of the projected budget needed by the city is attributed to that particular property.. not always fairly, which is why we can dispute taxes with local assessors. But yes, taxes can get rather high in some Texas cities...
It was an ok deal, but barely - taxes weight this down but for someone who could reduce the rehab, it would of been well worth it. Right now, the property is pending - we'll see what was the final accepted offer, I suggested my group of investors to pass on it, unless it could be brought down to $80/$90k, but asking price is $125k .
