STEELMAN
For buyer's representatives

Your number is the honest one.
Show the arithmetic that proves it.

A buyer's offer usually arrives as an assertion with a spreadsheet attached. It lands very differently when the seller's own filed figures are doing the arguing, and when the person reading it can move the assumptions themselves and watch your number survive.

What you are up against

Your offer reads as an opening position

Without the reasoning attached, a number below asking is treated as a negotiating tactic rather than a valuation.

The seller controls the narrative

They picked the presentation, the period and the normalizations. Nothing in the package invites you to test any of it.

Everything hangs on one cap rate

A single rate buried in a cell is the easiest thing in the file to dismiss, and the hardest to defend out loud.

A look inside

What the price actually yields

Going-in yield on today's earnings, the yield once the fixable items land, and the gap between price and value — all on assumptions the reader sets. From The Harlow Hotel & Conference Centre.

Going-in yield at $8.0M
8.43%
on earnings as reported today
Yield once the plan lands
13.69%
same price, same asset
Normalized NOI
$674k → $1.10M
after a management fee and FF&E reserve charged in both cases
A live valuation, on any cap rate between 6.5% and 10.5%
A sensitivity grid across every rate you might argue for
The restatement that shows where the earnings gap actually sits
Normalizations charged in both columns, in the open
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Other situations

Five more we build for.

Send us a live file and we will tell you within a day.

If there is an edge worth communicating in your numbers, we will say what it is and how we would make it. If there is not, we will say that instead and charge you nothing.

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