Build on successful business
| Listing Information | |||
|---|---|---|---|
| Amount: | $19,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 24% |
| Lender Rate: | 10% | Borrower: | ShirtStock |
| Finished | State: | ID | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-04-18 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Apr 18, 2007 | Current |
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I am a 36 year old computer engineer for Hewlett Packard. I have worked for HP in Fort Collins and Boise for the past 6.5 years. Over the past two years, my wife and I have been developing two business. First, We are beginning our Real Estate investment career by buying and selling distressed real estate in Boise, ID. The first picture is of our first rehab. It has been on the market for two weeks. The second picture is of our next project home which we have under contract. This home is in Excellent condition and only needs a kitchen update and some work in one bathroom to be ready for re-sale. We have also found our third home which we will be making an offer on within the next week. I am seeking this loan to help finance the rehab requirements of this third home. It will require some major work, but will also net about $26k profit when it is sold. We estimate that the repairs will cost approximately $15,000. The additional $4,000 in this loan request will help cover closing costs for the property. Our other business is called ShirtStock.com you can see our site at www.shirtstock.com. we offer custom printed and embroidered apparel. We have been in this business for the past two years, and just recently leased our own embroidery equipment. We have also recently hired a business coach and see great potential for our Apparel business. Our business model emphasizes customer service concepts that nobody in the industry is implementing. When we explalined what we offer to our latest client, MainScape landscaping service, he insisted that we come to his office that day and sign him up. It is our hope that between the Real Estate and the Custom apparel businesses, we will soon be able to be self employed and pursue our dream of being full time entrepreneurs. We have excellent credit and a great job at HP to back up our investments and business development. Our business success is our highest priority and you can expect us to meet our dept obligations to protect our dream of business ownership. My Take Home Pay at HP is $5400 per month Tithing: $720 House payment: $1250 Embroidery Lease $560 Car Payment $400 Food $400 Utilities: $250 Miscelanious: $800 Discretionary: $1020 Our Custom Apparel business is now self funding through our client base. The Real Estate business is funded with a $30K 401k loan, so we have the funds to make maintenance payments on our properties while they are on the market. Thank you for helping us achieve the dream of successful business ownership!! |
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