================================LETTER OF INTENT TO PURCHASEDate: April 22, 2007To: XXXXX XXXXXXFrom: XXXXX XXXXXX,XXXXX XXXXXX Inc.Re: residential property located at: XXXXX XXXXXXThe following sets out the basic terms upon which we would be prepared to purchase the Property.

I want to learn as much as I can about the various elements of REI and rehabbing, as I feel I should be as prepared as possible before getting myself into what could be a huge risk with big negative consequences if not handled correctly.

I have prepared myself for this situation..

I've made it my goal to learn, gain as much knowledge as possible, while I am getting myself financially prepared as well.

The CMA's, based on the comps, say the house can be sold for around 75K (except for one that came in way low, which I think was prepared wrong), but I don't think I can get more than 69K for it and may likely sell for 62K to make a fast sale

The stuff they teach in most college level business courses is "very generalized" knowledge that prepares a student toward getting a job.

Are you prepared for law suites?

Alot of banks will allow a 3x repair value for the home to be factored in the market analysis of a home in a pre-list stage.I deal with foreclosures on both sides, the agent preparing to sell, and the investor wanting to buy.

Hello Everyone,For the past 3 years I have been working in the Real Estate business as a Loan Officer and a Real Estate Agent helping buyers with the purchase of their homes.During this time, I have persistently been reading books, attending seminars and preparing to break into the Investing side of Real Estate.

In addition to the expenses he listed, you also have advertising, damage done by tenants (above the security deposit), utilities paid by owner (even if the tenant usually pays the utilities), office supplies, management, maintenance, tax preparation, etc, etc, etc (I could go on and on).