Purchasing a six unit apartment building
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 21% |
| Lender Rate: | 12% | Borrower: | pennywise79 |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-05-14 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| May 12, 2007 | Current |
| Oct 12, 2007 | Payoff in progress |
| Oct 17, 2007 | Paid |
|
Purpose of loan:
Thank you for considering my loan request. I am purchasing a six unit apartment house on June 1st 2007. I currently have the majority of the down payment and I am in need of additional funding to cover the full amount and any unforeseen expenses or minor repairs/upgrades. The building is made from concrete block and is in very good condition. All units are rented and will net $100 profit per month after purchase. My financial situation: My credit report should be able to speak louder than my word. I am self employed with multiple income sources, including long term investments, that are all verifiable. DTI appears higher than it is. My monthly budget: Mortgage/rent: $585 Insurance: $0 Car expenses: $200 (car is paid for and gets 50mpg, ins. is included at $90 per mo) Utilities: $60 Phone, cable, internet: $95 Food, entertainment: $300 Clothing, household expenses $150 Credit cards and other loan payments: $800 (includes above expenses, excluding rent. balance is paid in full EVERY month) Other expenses: $ --------------------------------------- Total monthly expenses: $1390 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 127728 | Purchasing a six unit apartment house | AA | $15,000 @ 12% | Apr 23, 2007 | Withdrawn |
| 127766 | Purchasing a six unit apartment house | AA | $25,000 @ 11% | Apr 23, 2007 | Withdrawn |
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