Real Estate Veteran and Responsible AA Borrower
| Listing Information |
| Amount: | $15,000.00 |
Status: | Loan created |
| Grade: | AA |
DTI: | 17% |
| Lender Rate: | 9% |
Borrower: |
Javidor
|
| Time Left: | Finished |
State: | CA |
| Funded: | 100% |
Group: |
(No Group) |
| Loan Information |
| Loan Status:
| Paid |
Origination Date:
| 2007-05-04 |
EricsCC ROI:
| 9% |
| Status History |
| May 04, 2007 |
Current |
| Dec 02, 2007 |
Payoff in progress |
| Dec 07, 2007 |
Paid |
This loan will be used to purchase residential real estate from victims of impending foreclosure. My strategy over the last several years has been to identify distressed homeowners, negotiate with the bank for a discounted price to prevent foreclosure, and subsequently sell the property for a gain. I have been very successful over the past few years - including 2 deals in the last 6 months.
My personal financial situation is such that I earn $50,000 base salary + a significant bonus as a financial analyst. My expenses are minimal, and I rarely carry debt on my credit card past the grace period. On the side, I currently own 3 long term investment properties with avg equity of $40,000 each. They all have responsible tenants, cash flowing $200-$300 per month each. I have a degree from the University of California and I live a simple life in San Francisco. I spend my free time investing in real estate and learning new languages.
My high credit rating is a reflection of my commitment to responsible borrowing. This loan will be paid back over 1-3 years, depending on the nature of the real estate deal. There will likely be excess funds which I will use to pay down the principal in 6 months or reinvest in prosper to cover cash flow. I could pay back the full amount of this loan at any time by liquidating my stock holdings, but I am confident that my diversified stock portfolio will give me double-digit annual returns on average over time. I am also curious to see how Prosper works from the borrower side.
|
| Borrower's Other Listings |
| 124972 |
Sound Real Estate Investment |
AA |
$25,000 @ 8% |
Apr 17, 2007 |
Withdrawn |
| 125323 |
Real Estate Veteran and Responsible Borrower |
AA |
$19,000 @ 9% |
Apr 18, 2007 |
Withdrawn |
|
Discussion For This Listing
|
|
No Comments Found For This Listing
| Post A Comment
|
| You must be logged in to post comments on listings. Not yet a member? register here |
|
