letters of intent

“Between the LOI signing and the actual money being exchanged when the deal potentially closes, there's this big period of due diligence, and guys, this is like the graveyard. This is where deals fall apart.”

“Due diligence is a pain in the butt, but look, you have to keep leverage when you're doing these deals, and I had a hundred percent confidence that if it fell through, we could very easily go back to one of the other companies who made an offer in one of their…”

“I think the third and maybe the most important one is saying, hey, on this date, We're accepting LOIs, and beyond that, you're out, and we're moving forward with people who have crossed that threshold, right? And either submitted or signed up for ours, right? …”

“When I'm looking at buying companies, I know that once I issue an LOI, I'm significantly more invested. I've learned more about the CEO, the company financials, and the systems the team uses. I can still walk away, but it hurts more to walk away at that point.”

“And LOI and term sheets are nothing but just, whatever you think, just write it down. It's not that complicated. Just write down, like, okay, this is how much I'm gonna pay right now, this is how much I'll pay in the future, and so on and so forth.”

“Once you're in LOI, like, you know, if it takes 30 days, nah, say 60 days, who cares, really, it just goes through.”