To figure this out, you multiply the number of square feet by the rental rate per square foot. If the property is vacated, you must know the projected rent.
Once you’ve determined the gross annual rental income and the property price, you are ready to calculate the GIM. The formula for the gross income multiplier is simple.
If you don’t want to have to pay to file taxes but want to do them on your computer, you can use fillable forms on the IRS website. The forms have instructions to help you fill out the forms correctly.
Now that you know more about the benefits of the gross income multiplier, you have a great way to make first glance assessments of potential rental properties.