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Chris from 70 Investments discusses converting a contract for deed into a note in his video. He mentions that this process might become more common and shares that he is currently working on two conversions in Michigan. He emphasizes that the transaction resembles a traditional property sale, but involves specific steps. The first step is to cancel the existing land contract by filing a cancellation document. Following this, a new note must be created to reflect the terms of the transaction. Chris highlights the importance of understanding these intricacies for successful conversion.