Benefits of a second position deed of trust?

[Arturo Borges]

Hey!

I am trying to come up with a short list of benefits or actual reason being of a second position deed of trust. We will be investing with private money loans and gap financing partners, so we will need to provide our gap partners with a second position lien, but for pitch purposes, I would like to know exactly what is the benefit for them or the peace of mind of that? Because in case something goes wrong, doesn't the 1st position lien (Private Lender), have all the control on the property?

Thank you in advance and excuse my ignorance!