Discounted Deed's of Trust or Second Mortgages

[bookie71]

Seeing the thread about discounted bonds, made me wonder if any of you had invested in discounted deeds of trust or second mortgages (actually a misnomer as many are first mortgages).  We have been doing this in our profit sharing plan for many years (since the early 1980's) and found them very attractive IF you don't get greedy. Our over all yield has averaged about 11% (some higher and some less).

[benchmark]

Seeing the thread about discounted bonds, made me wonder if any of you had invested in discounted deeds of trust or second mortgages (actually a misnomer as many are first mortgages).  We have been doing this in our profit sharing plan for many years (since the early 1980's) and found them very attractive IF you don't get greedy. Our over all yield has averaged about 11% (some higher and some less).

 

Is there a link or book that I can read up on this? thanks.