How to Write an LOI in 15 Minutes (And Why You Should Start There)

One of the biggest mistakes investors make isn’t analyzing the wrong deal.

It’s waiting too long to make an offer.

Too many people think they need to raise capital first. They think they need everything lined up, polished, and perfect before stepping into the arena.

But the smarter move?

Start with the LOI.

A Letter of Intent is one of the simplest tools in commercial real estate — and one of the most powerful. It shouldn’t take you more than 15 minutes to put together. More importantly, you should be sending them out consistently.

Let’s break it down.

Why You Should Start With the Deal — Not the Money

Here’s the reality:

You’re not going to find a deal immediately. Whether you’re buying apartments, retail, or industrial, it takes time.

If you spend six months raising money without a deal, you’re just sitting on idle capital and growing frustrated.

But if you get a deal accepted?

Now you have leverage.

It’s far easier to raise money when you can say:

“I have this property under contract. Here are the numbers. Here’s the opportunity.”

Capital follows opportunity. Not the other way around.

Start by making offers. The rest comes together when there’s something real on the table.

What Is an LOI?

A Letter of Intent (LOI) is a simple, non-binding document that outlines the major terms of a potential deal.

It is not the full contract.

It’s a starting point.

You’re essentially asking:

“Here’s what I’m willing to do. Are you interested?”

That’s it.

The 8 Essential Elements of Every LOI

Every LOI should include these core components:

1. Buyer

Who is purchasing the property?
List the individual name or entity.

2. Seller

Who is selling the property?

3. Property Address

Include the full address. If you know the legal description, add it. If not, don’t overcomplicate it.

4. Purchase Price

State your offer clearly.

No fluff. No ambiguity.

5. Earnest Money Deposit

How much are you putting down to secure the deal?

This shows seriousness without locking you into the full contract yet.

6. Inspection / Due Diligence Period

How long do you need to evaluate the property?

30 days?
60 days?

You can structure extensions as well. For example:

30 days initial inspection
30-day optional extension

Ask for the time you realistically need. Sometimes you’ll use it. Sometimes you won’t. But build in margin.

7. Financing Terms

Be upfront.

Are you:

Paying cash?
Getting a bank loan?
Requesting seller financing?

If you want seller financing, put the terms in writing. If you’re asking for 10% and they counter at 5%, that’s still progress.

Clarity avoids wasted time.

8. Closing Timeline

Instead of listing a fixed calendar date, you can structure it like this:

“Closing to occur 30 days after completion of the inspection period.”

This creates flexibility while staying professional.

9. Closing Company / Title

Specify your preferred title company or attorney.

Control matters in transactions. Using your closing company can help prevent unexpected fees and unnecessary friction.

If you’re a licensed broker earning commission, disclose it.
If not, leave that section out.

Always Make It Non-Binding

Every LOI should clearly state that it is non-binding.

You’re opening negotiation — not locking yourself into a final agreement.

This protects both sides and keeps the process fluid.

Volume Creates Deal Flow

Here’s where most investors hesitate.

They send one LOI.
Maybe two.
Then they wait.

This is a numbers game.

If you send 10 LOIs, you might get one response.
If you send 20, your odds improve.
If you send 50, you’re building momentum.

If your goal is to own 100 units and you’re buying 10 at a time, you should be making offers constantly.

Analyze quickly.
Submit quickly.
Move quickly.

Speed compounds.

The Bigger Lesson

The LOI is more than paperwork.

It’s a shift in mindset.

Instead of waiting until you feel ready…
Instead of trying to eliminate all uncertainty…
Instead of preparing endlessly…

You take action.

That’s what separates observers from operators.

Fifteen minutes.
Nine bullet points.
One offer sent.

Get out there and make some offers.

How to Write an LOI in 15 Minutes (And Why You Should Start There)