All Forum Posts by: David A Love

Ahhh, 8/27....I see it now

7/30 was two and a half weeks ago

I am currently reading a book written in 2006 about investing in duplexes, triplexes, and quads. He mentions "Gross Rent Multiplier", a method of determining the value of a small multi family property based on the income generated by the property, similar to valuation of larger commercial property. I have read ALL the books and listened to ALL the podcast for years, and nobody has ever mentioned GRM. So, why have I never heard of this until now? Do brokers, appraisers, landlords, and investors still apply this method to small multi family? Or is comparable sales the preferred method for this niche?

@Casey Conner I'm a carpenter handyman, not licensed though, yet. Let me know if I can help you.

Thanks. I put it in my calendar.

@Derek Tellier

I would like to attend to meet like minded folks.

Date and time please?

Driving for dollar$, I located a property. Research revealed that the homeowner hasn't paid property taxes since 2012. Digging deeper, I discovered the homeowner deceased living in 2012. Where do I go from here? How can I pay the taxes and foreclose on the property? Is this a realistic acquisition?

Estimating Rehab Costs in Knoxville Tennessee

What's the rule of thumb price for rehab costs per square foot you might be using?

Example: $15/sqft? For light cosmetic work - $30/sqft for full gut job?

Let me know in the comments what price range you use to estimate rehab costs.

Thanks.

@Cassidy Melhorn looks like you're crushing it with these 3 deals.

@Marland Richardson I've been studying this zipcode for about a year now. Although, my focus has been on SFRs, so I don't know about the numbers on multi family in that area. I can tell you that single family homes that meet the 1% rule are difficult. Typically, a house for $150k might rent for $1200/month. .08% deal using the 1% rule, or 9.6% cap rate.