That's up everybody.

Welcome back to this week's segment of the No Limit Minute.

We're going to blast through today because it's going to be really simple and really

easy.

Something I think a lot of people can confused on way too often.

They're really wanting to get into the commercial real estate investing business and they

know that commercial real estate is a little different with actually submitting offers as

opposed to with baseline single family where when you submit an offer, it's pretty much

your binding document like here, you're maybe verbally communicating with the seller or

the agent.

Try to figure out what works best for you and what works best for the ultimate seller.

But in commercial real estate, it's kind of the same way, but there's a pre document

that you'll actually submit that you'll use to finalize a lot of the preliminary negotiations

so that when you actually get to the purchase and sale agreement phase, the legitimate binding

document, hopefully things are a lot cheaper and you're not spending so much back and

forth with your attorneys, bleeding all over the documents and trying to firm up whether

not the deal can get done because at that point, there's usually built a lot of animosity

and deals just don't get done.

So the initial phase, the initial thing you're going to do is called an L.O.I. letter of intent.

I'm sure you guys have heard about it before, but you may not fully know, comprehend, understand

what actually an L.O.I. is or how to actually go about submitting one.

So I wanted to take today and I wanted to actually talk briefly about what are some of

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