How Many Shots Are Ya'll Taking?

by a searcher from University of Virginia-Darden - Darden School of Business

1 year ago

I personally believe in taking a bunch of shots (sending out a bunch of LOIs) but I'm curious to hear what others have done to make the process work for them. When I searched, I couldn't get a signed LOI to save my life for the first six or so months. Then I honed my search and only made offers on stuff that I felt was priced competitively and sent an offer over. I did that like 4-5 times a week and then had two accepted LOIs within a week of one another.  Has anyone else had a similar experience of just taking more shots to maximize the chance of landing one? Has anyone succeeded in acquiring sending only a few offers? I'm curious to hear your stories.

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searcher from Harvard University - Harvard Business School

I only sent out LOIs when I was pretty sure the owner was going to accept. I did that by sending IOIs first to ensure we were on the same page with price. On the business I acquired, we ended up skipping the LOI entirely and moving straight to the APA since we were on the same page.

1 year ago | like reply | 0 likes

searcher from Yeshiva University

I target high likely LOI's. By that I mean I try and spend a good amount of time with the Seller prior to submitting an LOI. Then again, no two processes are the same...

1 year ago | like reply | 0 likes

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