Increase Asset Portfolio AA 000 Perf Credit High Net Worth
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 17% |
| Lender Rate: | 8% | Borrower: | InvestActiv |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-04-19 | EricsCC ROI: | 6% |
| Status History | |
|---|---|
| Apr 18, 2007 | Current |
|
Second attempt after my first one did not gather enough bids. I am going to put a more detailed description, a lower requested amount and to a higher initial interest (relatively to the market average). First of all let me say, I am not applying for loan to help me pay of credit cards, escape a temporary financial crisis or improve cash flow in business. I have plenty of liquid funds for my daily/monthly personal and business budget. A lot of it goes back in investing. I am simply seeing Prosper as a new way to get more access to working capital I work in the IT Consulting (computer business systems design and development) and have been for the last 16 years since graduation. My family income including the investment activities that I am going to describe, without going in to specifics is close to $200,000 but since I need tax return proof (which I have not yet filed) for the non W-2 type of income I only included in the profile the >$100k, (just mine not including spouse, teacher), which is much quicker/more convenient to prove. I have had spotless credit record for more than 10 years now. If you read further you will understand why it is important for me to keep excellent credit rating and always pay debts on time. I try to acquire assets - real estate, stocks of an extremely diversified set, equity in private projects and notes of loans (like lend in Prosper) ? that will bring me return. Since my own net worth is only about $185,000 but would like to have more assets, I take on more liabilities when I have an opportunity to take them on a rate that is lower than the expected return from assets that is going to offset them. Currently I have about $732,000 in assets and about $547,000 in liabilities. I use any opportunity to take on more liability if it cost me less than the return I am getting from new assets. Examples of the important parts of my assets and my liabilities. Assets: real estate, personal and rental; stock portfolio returning well above 20% annually ? very diversified and divinely including hard assets types of companies (it will take me pages to write about my stock investments, ask if interested); equity participation in different projects of other entrepreneurs; debt notes to other entrepreneurs (like Prosper lending) Liabilities: mortgages, business lines of credit, credit cards personal loans. All the credit card debt that you see on my credit screening is from low interest offers of the credit cards including 0% offers. It is all used for asset acquisition. I do have consumer loans (first mortgages, car) which are serviced perfectly. Loan - paid from my employment income and from investment returns but also when needed by selling liquid assets (like stocks). Why I need to borrow money from Prosper having in mind the above situation. Regular banks, unknown why, like better borrowers that barely tie the two ends. Banks explicitly tell you that they do not like to lend money for, what they call ?reinvesting?. They will sponsor an operational business (services, sales, retail) but not one that is of an investing/holding type that will buy equity that returns you passively. Borrowing from Prosper will let me increase assets. First listing was for $25k. No I do $5 wich is pretty insignificant re the size of my current bsiness but I need to start with Prosper. Well, lucky bidding for the interest rate and glad to be doing business with you. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 116394 | All my loans covered by earning assets. This one will be too | AA | $25,000 @ 10% | Mar 27, 2007 | Expired |
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