A 2nd mortgage foreclosing is a big red flag for me and strange that someone will be paying a 1st position and allowing the property to be foreclosed on.I would dig deeper to make sure there are no other liens attached to the property that when adding all those liens, the 1st position and your inverstment amount does not surpass the property value.If they don't a quick exit is to sell it where there's still money left to get a return.If they do add to more then hurry and rent it get some of your investment back and with luck get some ROI.I stay away from 2nd positions unless you know with perfect accuracy the financial details of what can be attached to that property, it just doesn't make sense that someone with only 2 mortgages will default on the smaller amount and not the first SPECIALLY if theres equity.Good luck!

Set your own standards/goals and surpass them!

Regarding our primary residence, our equity gain would not surpass the $500K, so I understand no tax on that.

Most markets have not surpassed the peaks, although some have.

I believe that each and every person who posted here will not only achieve those dreams but surpass them far beyond your imaginations.

It sounds like you've surpassed where we were with the number of houses, etc. you own.

Its the rare ones that surpass me by far, they usually have investments or real estate.

Although, I would certainly hope you could surpass a current paltry CD rate.( You could pay off a bill early for a 10% discount for example).Great quote by Dion Depaoli "The asset returns 14.57% to maturity, what is done with those proceeds once received is up to the investor.

On a side note, the 401k balance is sure making it easy to get approved for financing and will also come in handy when I have to show 6 months of PITI reserves on all my properties when I surpass 4 mortgages.

And with such a helpful bunch of people that I've already found on BP, I know that my goals will be reached and surpassed far beyond my wildest dreams.At the moment I am learning how the wholesaling business works, and fully intend to start marketing and finding/evaluating deals within the next month.