All Forum Posts by: Tina Wells

Hey Folks!

Can you guys please offer me some expert guidance when it comes to evaluating finished basement square footage in my comp analysis in North Carolina? For example, I have a subject property that has 1682 SF on the main floor and 810 SF of finished basement (the majority of which is about 8 feet in height with the exception of some bulkheads to hide the mechanicals) and 271 of semi-finished basement that is a utility room basically (washer/dryer, freezer, hot water heater, furnace, some storage). How do I compare that to a comp that has 1840 SF on the main floor and 460 SF of finished basement space (and 1200 SF of unfinished space)? Both are walkout basements if that matters.

How do I value the basement square footage? Is the finished basement SF added to the main SF to get a total SF which I then use as I normally would to get a per SF price or do I value the basement and main floor differently? How do appraisers do it?

Any guidance is MUCH appreciated!

Tina

Thanks for the welcome everyone! Brandon Turner, Karen and her husband Jim head-up the Triad MasterMind real estate investor group that I belong to. They are great coaches and neat folks. I had no idea she was doing a podcast so imagine my surprise last week when I came to the site and saw she had done one!

Hey Folks!

I've been on the sidelines reading blog postings for a while here at Bigger Pockets trying to absorb every bit of knowledge I can and I just decided to jump in and join the fun. What a treat it is that experienced folks are kind enough to take time to share their knowledge with us all! For those of you who make the content on this site so awesome, thank you so much! After some hard work and persistence, I hope to be able to give back myself one day.

Although currently I have a W-2 job as a Product and Operations Manager at a software company, I am taking my interest in real estate from being a hobby to building a real business. I got a great coach and set up a business, Swift Property Group, in 2012. While my main goal is to buy and hold SFR's or small multi-units to set myself up for retirement, I plan on using other income generating techniques like flipping and wholesaling for multiple streams of income. When (not IF!) I get good enough, I look forward to working solely for myself and not someone else. Cheers to that day!

If you're in my area, I am definitely interested in networking to see how we can help each other out.

Wishing success to you all!

Tina