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.
Starting Out
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 . Most recent reply

User Stats

3
Posts
0
Votes
Chad A Burge
0
Votes |
3
Posts

UNDERWRITING DEALS/FIGURING OUT PROPERTY TAXES HELPP!!!!

Chad A Burge
Posted

I am looking to purchase my first property here soon and started underwriting deals a couple days ago and thought I was doing it correctly based on asking price and everything was coming back with big cash on cash returns. Then when I was trying to calculate property tax I realized I needed to figure that out based on assessed value of the property. So now I have two issues, when I use the taxes provided by many of the PnL statements I find attached to the deals I am looking at like 3-6% cash on cash returns which I feel like is stupid low considering before that I was looking at 15-20% based off of asking prices. Second issue is I have only found one property with it's assessed value posted on the county's auditor website, all of the other properties I have looked at I can not find assessed value anywhere. 

Please help! I know I am doing something wrong when it comes to the math of the property taxes and I need help finding assessed values. 

Thanks!

Most Popular Reply

User Stats

2,092
Posts
2,359
Votes
Lee Ripma
  • Rental Property Investor
  • Prairie Village, KS
2,359
Votes |
2,092
Posts
Lee Ripma
  • Rental Property Investor
  • Prairie Village, KS
Replied
@Chad A Burge It depends on where you are but usually you can just look up the current property on the county website. The taxes may be based on assessed value but the taxes themselves are usually posted. Do some digging and you should be able to find this info!

Loading replies...