Capital Needed for Real Estate Purchase
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 11% |
| Lender Rate: | 10% | Borrower: | investorxp |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-04-19 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Apr 19, 2007 | Current |
| Oct 03, 2007 | Payoff in progress |
| Oct 05, 2007 | Paid |
|
Hello. Thank you for taking a moment to review my loan application. I am requesting $25,000 to purchase a rental property in Clearwater Beach, FL. It is a small unit that is selling for $62,000. I am putting $40k of my own money towards the purchase and am seeking an additional $25,000 to make the acquisition (and cover any outstanding closing costs). I could go to the banks for the additional capital, but I believe in Prosper (and am a lender here, myself). Here are the operating financials on the unit: INCOME Average Rental Income - Peak Season 2095.80 (Adjusted for Occupancy Rate) Average Rental Income - Off Season 978.2 (Adjusted for Occupancy Rate) OPERATING EXPENSES Management Commissions (135.07) Turn Costs (60.00) Association Dues (378.00) Utilities (60.00) Property Taxes (121.88) TOTAL OPERATING EXPENSES (754.95) NET OPERATING INCOME - (In Season) 1340.85 NET OPERATING INCOME - (Off Season) 223.25 Again, thanks for taking the time to review this application. Michael |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 333272 | Capital Needed for Boat Slip | AA | $25,000 @ 11% | May 15, 2008 | Loan created |
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