I’d realized it to be unrealistic to emulate in the actual market but, it got me very excited.I assumed my methodology would quickly lose effectiveness, due to the trade volumes becoming too large to realistically execute.

We bought it using BRRRR methodology, all cash at $90k.

Track down Dean Jackson (never on these boards) and study his methodology.

I do properties in all 50 states, and we/CSSI use the IRS's preferred methodology for our studies, engineering-based.

Here is a summary of the data for Alabama:Property tax as a share of total general tax revenue: 6.9%Annual property tax revenue (per capita): $620Annual property tax revenue (total): $3,041,285,000Annual general tax revenue (total): $43,860,663,000For reference, here are the statistics for the entire United States:Property tax as a share of total general tax revenue: 16.6%Annual property tax revenue (per capita): $1,758Annual property tax revenue (total): $577,007,937,000Annual general tax revenue (total): $3,468,043,700,000For more information, a detailed methodology, and complete results, you can find the original report on Porch’s website.

Internally it’s useful because I know how I underwrite each market and the methodology is constant.But if you’re using it as a general guide across markets, I second the CBRE report as probably the best publicly available source.

Two methodologies to look at it: 1.

I can see how our central bank (Federal Reserve) missed this, since it such ancient history.  

My theory/methodology has always been to either do it right or don't do it at all.

Before I go and apply that same methodology to your town, let me first get through lease up on this property (Winter 2019) to prove our math was correct.