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In this video tutorial, real estate investor Jerry Norton explains the importance of a letter of intent (LOI) 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 stay until the end for a free template of his exact letter of intent. Norton, who has over 17 years of experience in the industry and specializes in house flipping, highlights that he has assisted many new investors in achieving significant incomes. The video is sponsored by Flipster, a platform offering tools for finding funding and flipping houses.