The Importance of Second Position Mortgages

In deal number two, we borrowed $37,000 from Dr. Stone who had a second mortgage on his home. He was able to make us a loan from his retirement account and earn interest without having to do any of the work on the property. The strategy is something we replicated over and over again for the next 20 years. We still went back to banks here and there, but our private lenders were the game-changer.

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