Cashflow on Wholesale Deals

[Duncan Hayes]

I am almost finished reading, “If You Can’t Cashflow After This...” and in the book he’s speaking of receiving promissory notes to receive monthly payments versus one lump sum payment.

I’m curious is anyone doing this? Anyone doing this in CA?

TIA!

[Account Closed]

Originally posted by @Duncan Hayes:

@Mike M. Most definitely. I’m just trying to see if anyone’s doing promissory notes on assignment fees rather than taking the one time payment.

 I just noticed that your question pertained to "assignment fees". Well, in theory it might work, but I'd be concerned how you would enforce it. A promissory note needs to be backed up by something like real estate, a car, or something tangible to be of any value to you. If the guy doesn't have the money to pay you and you sue him, and you win (which it isn't clear that you would win) he still doesn't have the money to pay you. You need something "to take" that he values to entice him to work hard to pay you or you get whatever backs up the promissory note.