Yes, but it was a modest house (IIRC the second mortgage only netted me about $25k) and not that big of a 401k for my age at the time.
Here's an example of how fast it can be done from virtually nothing.... A friend at work and I used to do lunch at a local eatery and I'd hear him lament about not having enough money to get by. He'd filed bankruptcy a couple of years before but "some special government program" enabled him to afford a doublewide on 25 acres for cheap money at a higher interest. He made good money, had a wife and kids and terrible credit. So he's wishing he could do something like I was in the process of doing with my subdivision. Being a good friend trying to help a friend I said what about developing the land you already own? "Oh no! I couldn't do that!". Lol!. "I love the isolation, I couldn't develop this!"
About a month later he had warmed up to the idea. I walked him through the process over the next ~6 months and I think he had a total of $30k wrapped up in survey, test pits, town approval, dirt road infrastructure. He was able to create a low priced subdivision of 7 lots plus his existing home. He subcontracted the homes and sold home package on 6 lots. He built himself a 4600sqft colonial on the 7th lot, then sold his doublewide for more than he originally paid including the land! He did well overall, I'd guess close to $500k profit, and that was passively over a 5 year period. He still had his day job too.
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