This past month we lost out on two potential deals. The first was a charming 33 unit building. Although our offer was stronger, the sellers ultimately went with another group having a larger presence in the SLC market. The second opportunity was at the heart of our comfort zone: a value add 11 unit building plus single family home project. Despite our strong offer at list price using a reputable and respectable agent, we find ourselves as the backup offer. This shows there is no single right answer when constructing offers, so attempt to understand what works best for the seller. This could mean providing an executive summary covering your plans for the building, providing a buyer letter telling your story, or simply meeting the sellers in person. Do it all. Each ‘no’ we face, although disappointing at times, only brings us a step closer to a ‘yes’.
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