Real Estate Investment
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 26% |
| Lender Rate: | 13% | Borrower: | HelpProsper |
| Finished | State: | MI | |
| Funded: | 100% | Group: | No Bull Investors - We Invest In Good Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-05-25 | EricsCC ROI: | -52% |
| Status History | |
|---|---|
| May 25, 2007 | Current |
| Jan 09, 2008 | Late |
| Jan 23, 2008 | Current |
| Mar 11, 2008 | Late |
| Mar 28, 2008 | 1 month late |
| Apr 26, 2008 | 2 months late |
| May 03, 2008 | 1 month late |
| May 27, 2008 | 2 months late |
| Jun 18, 2008 | 1 month late |
| Jun 28, 2008 | 2 months late |
| Jul 26, 2008 | 3 months late |
| Aug 26, 2008 | 4+ months late |
|
Purpose of loan: This loan will be used for Real Estate improvements. I'm going to make this listing a bit shorter because this is my 2nd try. 1st one must of timed out I typed so much. Loan will be used on improvement to paid off 8 unit apartment building. Kitchens need to be updated in 8 units, which will allow me also to increase rent which is kind of low. Also thinking about Cond conversion. What you dont see in the picture is this apartment building is right on the river. River Lofts are going up all over the area. My financial situation: My financial situation is really good. I have a full time job as a Technical Project Manager on a very cool RFID/GPS project. I own a Tanning Salon and a couple paid off income properties. Just been feeling the pinch this year out of my savings and investments. I have paid 32k for a new 1500sqft retail space for the Salon that will let me include more machines and new services. 26k just spent on my SpaCapsule (www.spacapsule.com) a machine I hope will generate more summer income when tanning is in it's slow season. I have a little over 20k in my personal checking account ( I can verify). Around 15k in my business accounts. I feel comfortable with 40 or 50k cash in my accounts to handle any unforseen expenses of operating a business and income properties. I also have a stock and mutual fund portfolio that would pay this loan off with no problem. Markets are down and I'm looking not to take any additional money out, just ride out my investmets, I'm in for the long haul. I have recently started using prosper and loaned out $1000.00 in the last week. My target is 10k by the end of the year. All my personal credit cards are paid off, I'm not into paying 18% interest. If your wondering about the 1 Public record on my account, It was money that I owed to my University slipped through the cracks and I paid off promptly when I found out. Here is more info about the income propert that the money will be invested into: Financial Summary Actual Year: 2006 Scheduled Gross Income: $52,800 Vacancy (10%): $5,280 Garage Income: $2,000 Laundry Income: $1,800 Effective Gross Income: $51,320 Taxes: $9,670 Utilities & Insurance: $13,501 Repairs & Maintenance: $3,526 Other Expenses: $1,226 Net Operating Income: $27,923 I just want to tell you my credit is VERY IMPORTANT to me. I make sure to pay everything on time. Thank you very much for looking and bidding on my listing. Monthly net income: $ 8500 Salary 2500+ Avg Tanning Salon 3500 Income Properties Monthly expenses: $ Housing: $ 1214 (Insurance Included) Insurance: $ 199 (2 Cars ) Car expenses: $ 485.00 Utilities: $ 300 Phone, cable, internet: $ 100 Food, entertainment: $ 400 Clothing, household expenses $ 400 Credit cards and other loans: $ All personal cards are paid monthly Other expenses: $ 1000 Loan |
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Discussion For This Listing
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