Why We Turn Down Some Deals 

One of the questions we hear most often is: “If property is such a good investment, why would you ever turn a deal down?” 

It’s a fair question. In a world where opportunities seem endless, surely more deals mean more growth, more returns, and more security — right? 

Not quite. At Akoya, our approach is intentionally selective. We don’t measure success by how many deals we complete in a month, but by the quality, sustainability, and long-term value of the projects we recommend. That means we say no far more often than we say yes. 

Below, we’ll explain why. 

1. Protecting Investor Capital Comes First 

Every opportunity we source carries a responsibility: the capital, trust, and long-term goals of our investors. Our clients rely on us not just to find “a property,” but to build them a pathway to wealth. That means every project must align with: 

• • Target returns: If the numbers don’t stack up — after factoring in finance, refurbishment, void periods, management, and realistic exit options — we simply won’t move forward. 

• • Risk profile: A deal may work for a cash-heavy investor willing to take short-term risk, but not for someone focused on steady, long-term growth. If we can’t match the deal to the right profile, it’s off the table. 

• • Capital preservation: Protecting downside risk is more important than chasing upside gains. 

That’s why we stress-test every assumption. From running conservative finance models to checking contractor quotes for refurbishment costs, our due diligence protects investors before they ever commit capital. 

2. Numbers on Paper Can Be Misleading 

When we identify a potential property, the first round of figures can look very attractive. High yields, strong refurb margins, or a seemingly perfect location. But once we dig deeper, cracks often appear: 

• • Hidden refurbishment costs: Outdated electrics, damp issues, or structural surprises can quickly erode profit margins if they’re not accounted for. 

• • Over-optimistic valuations: Initial end values may not hold up once we compare them against multiple true comparables and realistic lender criteria. 

• • Unrealistic demand forecasts: A location may look strong in peak months, but occupancy can collapse in off-seasons — we model those scenarios too. 

By layering in contractor input, surveying potential risks, and stress-testing against worst-case outcomes, we filter out opportunities that only work “on paper.” If a project doesn’t hold up once the numbers are fully interrogated, we walk away. 

3. Strategic Alignment Matters 

We don’t believe in a one-size-fits-all investment strategy. Rent-to-Rent, Buy-to-Let, BRR, flips, commercial conversions — each comes with its own dynamics, risks, and timelines. 

For example: 

• • A property may offer strong short-term rental income, but be in a location where long-term capital appreciation is unlikely. 

• • A flip project may look profitable, but market conditions could mean a slower sale or reduced resale value. 

• • A commercial conversion could generate excellent yield, but may involve planning hurdles that drag out timelines and add cost. 

That’s why we always run multiple exit strategies before committing. If the project doesn’t align with one of our proven models — or if the alternative exits look weak — we won’t put it in front of our investors. 

4. Integrity Over Volume 

In the property world, it’s tempting to push forward with every opportunity and let investors decide. But we don’t believe that’s fair. 

Our reputation is built on trust — and that trust only grows when clients know we will turn away from opportunities that don’t meet our standards. By being disciplined, we: 

• • Build confidence that when we do bring a deal forward, it’s been fully stress-tested. 

• • Ensure our pipeline reflects quality over quantity. 

• • Attract long-term investors who value reliability over hype. 

Every “no” is the result of thorough due diligence — checking costs, comparables, lender appetite, and even fallback positions. That discipline makes our “yes” so much more powerful. 

5. Case in Point 

Recently, we reviewed a property we had identified as a possible BRR. On first glance, the figures suggested an “all money out” refinance within six months — the holy grail for many investors. But once our team broke down the numbers properly, we uncovered: 

• • £40k of unaccounted refurbishment costs due to structural work. 

• • An inflated end valuation that wouldn’t stand up to lender scrutiny. 

• • A local rental market too shallow to support the projected refinance figures. 

At first glance, the deal looked like a perfect BRR. But by the time we had finished our analysis, it was clear this was not an opportunity we could stand behind. Walking away protected both our clients and our reputation. 

6. Why This Benefits You 

Turning down deals isn’t about being cautious for the sake of it. It’s about ensuring that: 

• • Every project we recommend stands up to scrutiny. 

• • Your capital is invested where it can grow sustainably. 

• • You can trust our yes, because you’ve seen our no. 

There’s also the opportunity cost to consider. The wrong deal doesn’t just risk poor returns — it ties up your capital, your borrowing power, and your time. By filtering out weaker projects, we keep you liquid and ready for the right opportunities. 

Final Thoughts 

At Akoya, we believe property investment should be exciting, but never reckless. Every project we reject is part of the process that ensures the ones we accept are truly worth your time, energy, and capital. 

Because in the end, it’s not about doing every deal. It’s about doing the right deals — the ones that align with your goals, deliver real value, and stand the test of time. 

That’s why we say no more often than we say yes. And it’s why, when we do bring you an opportunity, you’ll know it’s been chosen with care, discipline, and your success at heart.