Real Estate Note Investing
FIXnotes | Non-Performing Note Investing
Welcome to FIXnotes — the go-to podcast for real estate investors ready to level up by becoming the bank. Hosted by Robert Hytha and industry experts, we dive deep into the world of mortgage note investing — especially non-performing seconds. Learn how to source, analyze, buy, and resolve distressed debt while helping homeowners and building lasting wealth. Whether you're scaling a fund or buying your first note, you'll get actionable strategies, real-world case studies, and insider insights to systematize and grow your note business. It's time to cash flow without tenants, toilets, or trash.
Real Estate Note Investing
Episode 5: Lien Position - 1st vs 2nd Explained
Not all mortgage notes are created equal — lien position makes all the difference.
In this episode, we break down the difference between 1st and 2nd lien mortgage notes, and how each position changes your strategy, your risk, and your potential return.
Learn how the lien stack works, what happens in foreclosure, and why smart investors don’t always chase the top position.
✅ What “lien position” actually means
✅ Risks and rewards of 1st vs. 2nd liens
✅ How equity protects (or hurts) your investment
✅ When seconds outperform firsts
Most investors ignore 2nds — until they see the upside. Ready to understand the capital stack like a pro?
*This program is for informational purposes only and should be independently verified before taking action.