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Promissory notes are a powerful tool for raising funds, but it's important to understand a few key aspects. When we talk about a "Note," we're not referring to a mortgage. A promissory note is a contractual agreement, more akin to a loan without an actual mortgage, lien, or security tied to it. Your entity, whether it's an LLC or a corporation, is the borrower. These notes can be used for various purposes, such as earnest money deposits, down payments, renovations, carrying costs, and closing co
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