Fixing up Fixer upper Funds
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 9% |
| Lender Rate: | 9% | Borrower: | vegibenz |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Independent Filmmakers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-03-07 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Mar 07, 2007 | Current |
| Nov 23, 2007 | Paid |
|
Purpose: I would like the finance the remainder of our remodeling costs for a building I own with my girlfriend and close friend that we purchased in 2004. My partners in the building are cash-rich and while I have an emergency fund, I am short on excess cash and do not want to borrow against my partners' credit with a HELOC. We have completed a variety of projects so far, but several remain, namely: fixing several leaks in our garage and near a door to a deck in our bedroom; making interior stairs code-compliant; drywalling the ceiling in our basement which will soon be converted to guest rooms and offices; and finally repainting several interior rooms. We are in the process of converting the two-unit building into condiminums and intend to eventually rent each of the units. The remainder of the loan funds will help me cover the various city permit costs and legal fees associated with the San Francisco condo-conversion process. Repayment: I am steadily employed as a software engineer and can easily meet the $200+ monthly payment. I incurred a good deal of credit card debt in college which is all repaid (except one student loan at 4.5%, which I will just nurse slowly) and know what it takes to knock out debt quickly. My plan is to repay this loan in the next 18 months. I am a lender and proud group leader at Prosper (Alternative Fuel Auto Financing). I previously borrowed $1,500 from Prosper in 2005 during the friends and family period and quickly repaid the loan; however, as I mentioned above, I would be paying over the next 18 months--so this will still make a great investment for lenders. Please send me any questions you have and I will promptly post and answer them. Thank you for your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 103 | Home Weatherproofing | AA | $5,500 @ 6% | Jan 26, 2006 | Expired |
| 447 | Tellin Sallie Mae to take a hike | AA | $23,500 @ 4% | Feb 17, 2006 | Withdrawn |
| 223100 | A new couch | AA | $3,000 @ 7% | Oct 30, 2007 | Withdrawn |
| 223102 | A new couch | AA | $3,000 @ 7% | Oct 30, 2007 | Withdrawn |
| 245200 | A new couch | AA | $3,000 @ 6% | Dec 05, 2007 | Withdrawn |
| 311443 | My personal loan for home improvement | AA | $3,000 @ 9% | Aug 13, 2008 | Withdrawn |
| 382415 | Solar panels | AA | $15,000 @ 10% | Aug 14, 2008 | Withdrawn |
| 403279 | Solar Panels | AA | $20,000 @ 17% | Sep 23, 2008 | Withdrawn |
| 414289 | Solar Panels | AA | $8,000 @ 8% | Oct 15, 2008 | Cancelled |
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