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In this video, real estate investor Jerry Norton explains the importance of a letter of intent (LOI) as a crucial tool for making offers to sellers and securing contracts. He outlines what a letter of intent is and provides guidance on when and how to use it effectively. Norton emphasizes the importance of staying until the end of the video to receive a free copy of his exact letter of intent. The video is sponsored by Flipster, a leading real estate software that offers resources for finding, funding, and flipping houses. Jerry has over 17 years of experience in real estate investing, specializing in house flipping and helping new investors achieve significant income.