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Simple English definitions for legal terms

gross-rent multiplier

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A quick definition of gross-rent multiplier:

Gross-Rent Multiplier: The gross-rent multiplier is a way to figure out how much a property is worth by comparing its market value to the amount of money it makes in rent each year. It's like a special calculator that helps people decide how much they should pay for a rental property. The gross-rent multiplier is also called the gross-income multiplier and is abbreviated as GRM.

A more thorough explanation:

Definition: The gross-rent multiplier (GRM) is a ratio that measures the relationship between the market value of a rental property and its annual gross rental income. It is used as a method to estimate a property's market value.

Example: If a rental property has an annual gross rental income of $50,000 and a market value of $500,000, the gross-rent multiplier would be 10 ($500,000 ÷ $50,000 = 10). This means that the property's market value is 10 times its annual gross rental income.

The gross-rent multiplier is a useful tool for real estate investors and appraisers to quickly estimate the value of a rental property. By comparing the GRM of similar properties in the same area, they can determine if a property is overpriced or a good investment opportunity.

gross-receipts tax | gross sales

General

General chat about the legal profession.

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snow

20:31

I agree with dk ^

madollyy

20:31

Got it, thank you. I don't think there is much I can do for my GPA now since I only have 1 semester left for ug but I definitely will be studying my butt off for the LSAT.

Dkk

20:32

Nice!

madollyy

20:32

I really appreciate your advice, guys <3 Wishing you luck on your endeavors!

JumpySubsequentDolphin

20:32

@madollyy: is that your CAS GPA?

madollyy

20:33

That's what's on my transcript! I haven't done that one yet tbh. I get mostly A's, some B's. Got dragged down a bit too much from one D in my first semester though ><

JumpySubsequentDolphin

20:34

do you have any A+’s? that could help your gpa!

JumpySubsequentDolphin

20:36

bc LSAC recalculates A+ to 4.3

madollyy

20:39

Noo :( Unfortunately. I'm surprised that I don't, there were definitely some classes that I remember scoring 98-100% but it doesn't show on my transcript

madollyy

20:41

Acutally

madollyy

20:41

My university does not list A+

JumpySubsequentDolphin

20:42

yeah my university’s the same way, so frustrating! still a great GPA and with a killer LSAT score you’ll be good to go :)

JumpySubsequentDolphin

20:42

if you have the means, I’ve heard private tutoring is the way to go

madollyy

20:44

Fingers crossed! I mean I'd be so so glad to go to law school period, but I am a bit of an overachiever. Dream is Berkeley rn, but I'm of course happy to go anywhere that lines up with my plans. And is kind enough with scholarships lol

madollyy

20:44

I'll have to see if my parents are willing to support that. I'm living on my own but ik if it'd help me they'd be willing to help

JumpySubsequentDolphin

20:47

who knows, you might not even need a tutor! Take a diagnostic and see where you stand :)

Dkk

21:03

@madollyy: yeah that happend to me too with my community college transcript. You can try calling to see if they can alter your transcript but like mine would not do it.

Dkk

21:04

Ask @babycat to tutor you @madollyy

KnowledgeableRitzyWasp

21:08

cat food is expensive tho

Eggan

21:09

I HOPW THAT ISNT REAL

[] texaslawhopefully

21:09

@JumpySubsequentDolphin: I would push back on this. I think for the vast majority of people LSAT tutoring is unnecessary.

Eggan

21:09

oh its from nov 12 phew

Eggan

21:09

i was about to have a heart attack

Eggan

21:09

at the berk decision lmao

[] texaslawhopefully

21:10

@madollyy: I focus on bringing your GPA up as much as possible in the last semester because once you graduate you cannot change that. So don't study for the LSAT next semester if you think that would impair your ability to get straight A's. As for LSAT studying, I would recommend LSAT Demon (ik controversial), the Loophole, and Reading Comp Hero.

[] texaslawhopefully

21:10

*I would focus

JumpySubsequentDolphin

21:11

@texaslawhopefully: oh I’m not sure hahaha im just basing off of my friend who got a tutor bc she was rly struggling and it seemed like it helped her!

[] texaslawhopefully

21:12

Yeah, that's fair! For some people it can help a lot. I'm just saying in general I don't think it is necessary unless you are trying to finetune a very specific area (or get to the high 170s because that is another thing in and of itself) OR are just terrible at the test. I tutor the test and I find that most people can improve just as much through self-study.

JumpySubsequentDolphin

21:13

that makes sense for sure

JumpySubsequentDolphin

21:13

i think for her it was a lack of discipline more than anything else tbh. she could not get herself to meaningfully study on her own

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