Be Wary Of Promissory Notes In Real Estate

At least in Canada, we definitely know that we've seen some real estate changes there. And so as the winds of change shift as interest rates go up, the different levers of economic factors are now putting a lot of pressure on deals where maybe they were a one, two, three year project and the time of acquisition versus the time of the rate change just didn't line up. And so people are sitting there holding their pockets out with no money coming into it, wondering when they're going to get it back. And the reality is a lot of people aren't going to get it back. Sometimes you're engaged with someone who's coaching you, maybe even from another country, and you might be doing deals or doing promissory notes. But if the coach's job is to help you understand how to protect your money and how to manage deals, if you're putting promissory notes with that person and that person isn't showing you how to take security on the property, that seems a little bit a mismatch of value to me there, right?