Buyers value your rent roll 30% lower than you do. Here’s what they see.

The multiplier is the last thing buyers calculate. It's also the first thing sellers obsess over. Four haircuts happen before the multiplier is ever applied.

The situation: "You think your roll is worth $3.20 per dollar. Buyers say $2.10."

Every principal knows the 'multiplier' number in their market. Very few understand how a serious buyer arrives at it. The gap between what you think your roll is worth and what a buyer will actually pay is almost always explained by four adjustments made before the multiplier is even applied.