Making Offers BEFORE seeing Property??

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Good morning all,

I was reading a post by one of the Guru's on this site. He was explaining how to get started in REI and the steps to take to achieve a financially stable goal. One of the points he mentioned was in order to open the possiblity in getting properties under contract, it is important to be making tons and tons of offers every week by way of a Letter of Intent (which he included at the end of his post). He said to just fax the LOI over to the Realtor or brokers office and they would receive it and respond yes or no or counter. My question is, are the LOI's sent before actually seeing the property? I mean, would doing due diligence on the property first, and then making an offer suffice? or should you actually go out and view the property and THEN make an offer?

I usually get the listings from my Realtor and then I set up a time and day to go out and view the property with my Realtor. I then run my numbers the same night and get back with my Realtor the next day as to whether or not I want to make an offer. My Realtor will then fax over the Letter of Intent for me and he will then wait to hear back from the Seller's Realtor and then will respond to me.

I don't know....this is usually how the process goes for me. Maybe it should be the other way around like the Guru said, and I should not wait for my Realtor, but just send out LOI's on properties (offering 20-30% below MV) that I see, and go from there?? Maybe this is the reason it seems like it's taking me sooooooooooooo long to get another property under contract???? because I'm not making enough offers.

I look forward to hearing your comments!

Thanks