[Calc Review] Help me analyze this deal
Would you do this deal? Curious to hear if another investor would pull the trigger on this!
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Most Popular Reply
Tim Herman is correct just on the general principle; i.e., those taxes that you are using are way too low. I've been an investor in Columbus Metro over 30 years (hundreds of properties all over the area) and taxes in the county tend to be about 2.1% - 2.5% per year based on ARV in most areas. The taxes vary due to school and other levies that pass or fail in the various areas. Yes, I know, the county does not use my formula but as a quick, down and dirty, rough approximation it will get you much closer to the truth than you are using. It sometimes takes a few years for the county to make the adjustments from what the taxes were at the time of purchase but, bad luck, our triennial reassessment is coming shortly. I see at least $3900 - $4200 in your future. (Note, the Hilltop has changed pretty dramatically over the past 5 or 6 years so if my estimate is off, then I'm underestimating, but I'd still bet $50 I'm pretty close and a whole lot closer than the number you are using.)