My New Letter of Intent | Awesome REI

My New Letter of Intent

478 comments

Hooray for you – we’re giving away another freebie today! Not only will you get to swipe a goodie from us, but I’ve also got an awesome video for you that comprehensively covers what we’re giving away.

Look, there are lots of letters of intent available out there. You could even create one for yourself and consult with your attorney before using it.

But why reinvent the wheel?

We’ve already done all the heavy lifting for you. (You’re welcome!) I still suggest you cover your butt and run this document by your attorney before using it, but it’s our letter of intent of choice – and it’s worked for us for years.

It’s simple, matter-of-fact and to the point. And, you’ll notice it’s only 1 page. That’s intentional. That way sellers can quickly understand exactly what we’re offering them.

The Body Consists of Only 2 Parts

As you’ll see, our letter – chock-full of benefits for the seller – is really just 2 main parts:

  1. Property Facts
  2. The Bottom Line

Think of the letter as a template. Most of the information will remain the same for every deal, but we customize it based on the details of each situation.

The first section – the property facts – is where we make the most changes. This is where you list your offer price, mention any repairs needed and include the closing and contingency details.

The bottom line section reiterates our interest, and reminds the seller that we’ll be there if and (hopefully) when they are ready to pull the trigger.

And that’s it.

Go ahead, investors, and press play to hear more about the letter of intent you can swipe today. I’ll go over the tone that your letter should reflect – we’re playing it cool here, kids, and we certainly don’t want to sound salesy. This letter simply states the facts, considers the seller’s situation and reminds them to contact you when the time is right.

Here’s how to download our New Letter of Intent:

Step 1. Leave a comment below with your thoughts. What you like about the letter, don’t like, or just tell us how awesome we are for giving this to you at no cost 🙂

Step 2. Once your comment is posted – Chuck Norris will award you with a free download link for the letter. For reals. 

Johnpaul Moses

JP Moses is a roughly-hewn man-child who jumped into REI back in Y2K and full time in '02. After many twisty turns over the years, from landlording to short sales to rehabs to Realtoring to lease options to REOs to notes to owner financing, blah, blah, blah… he finally stuck his flag deep into wholesaling. Today JP's Memphis-area operation's wholesaled somewhere north of 400+ transactions and actively turns 3-7 houses a month. He also really digs helping others and pours a ton of his heart and soul into helping his fellow real estate investors from his own REI and business-building experiences.

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478 comments
bryan

Good stuff – obvious you put a lot of time and energy into creating this great material. Many thanks for sharing.

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Jovany Rivera

This is GOLDEN ! Thanks so much for this helpful content

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William McMillan

Excellent letter that’s to the point without being a used car salesman. simple, professional, and direct with out being needy. Love it!

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Kristy Lord

I love how simple and clean this is.

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Hugh Morris

Does this still applies today? this is great I have never heard anyone talked about this before.

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    Johnpaul Moses

    Yes, hugh! You can totally rock this out today… just understand the difference between using this and an actual contract, as it’s explained here. But still works!

    Reply
Hugh Morris

Is the letter of intent just for properties that you’re unable to agree on? can I just send an offer?

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    Johnpaul Moses

    You can totally send an offer. The letter of intent is more of a soft-pass “float” of an idea of a possible offer…just to see if you get a nibble.

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Clemmie Palmer

The LOI is a soft approach that states our interest in buying. The offer is fair considering what the property is worth to us. Its an as-is sale without seller outlays for repairs, closing costs, or commissions. We are merely opening negotiations, noting benefits of selling to us.

Clem Palmer

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    Charity Akers

    Hi Glem, glad you liked it. Hope you are able to use it in your biz!

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WW

Great explanation of the thought process behind the nonbinding Letter of Intent. Keeps you on their radar for when they do need to finally move on from the property.

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Terry Bailey

I never knew that you needed a letter of intent first, Thank you for sharing.

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george

Cant get Enough! Appreciate your Sharing this Information!

Thanks!

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Frank

Dude you got some great stuff here.

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Bret Lumpkin

Great Tool! Thanks for sharing it!

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Camillia Alexander

Great letter, really like it, so professional and not intimating. Thanks
Camillia Alexander

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Newalow Weekes

Like the personal approach and giving them the opportunity to come back to you!

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Oswaldo

Wow! I jus found out your website and I’ve been learning so many things I didn’t think were important. LOVE it man!

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Jacobe Lopez

Awesome stuff man!

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Patricia Antalik

You are awesome. All your information is great and helpful for beginners like myself. Thank you!!

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Dale Antrim

love your heart and resources. THANK YOU

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Xiomara Dudley

good stuff!

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Lisa Aberman

great resource
thank you

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Merydith

I like the way you have approached this letter, not like pushy investors and matter of fact. I will use this intent letter and not include exclamation points!

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Sonya Hunt

This is Awesome!☺

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Mike Dixon

Which one would you use first, the Letter of Intent of an Option Agreement?

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    Johnpaul Moses

    Hi Michael—I’d use whichever felt more appropriate for the deal at hand. Honestly. Also, letters of intent are meant for “soft-pass” offers, whereas an option agreement is more of a contract, based on terms you’ve already discussed and agreed to. Does that make sense?

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Gregg Peters

Easy to read, scan and understand. GREAT additional tool! 🙂

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Darin

Thank you so much for your generosity in allowing newbs like myself just starting out the opportunity to acquire such useful tools. I love it! Keep doing you, guy!

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Justin Rayside

Very Professional Straight to the point, I have seen a few and this is above standard.

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Susan Childress

Great wording, thanks for sharing.

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Carmen Looney

Love it! Straight to the point and no fluff!

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Rose Wells

Rock on!!
Thank you for the awesome training

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Fred Wilson

Wow.. I never knew one could use this for sf properties?

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Cheryl Boyd

Awesome stuff!☺

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Frank Dircks

Awesome presentation

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Frank Dircks

I like this straight to the point

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