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In this video tutorial, real estate investor Jerry Norton explains the importance of the letter of intent (LOI) as a crucial tool for making offers to sellers and securing contracts. He details what an LOI is and provides guidance on when and how to use it effectively in real estate transactions. Viewers are encouraged to watch until the end for a free copy of his exact letter of intent. The video is sponsored by Flipster, a leading real estate software offering resources for finding funding and flipping houses. Jerry shares his extensive experience in the industry, emphasizing his track record of helping new investors achieve significant income through house flipping.