real estate investment
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 15% |
| Lender Rate: | 10% | Borrower: | flyguy11 |
| Finished | State: | OH | |
| Funded: | 100% | Group: | Investing with integrity! |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-07-10 | EricsCC ROI: | -40% |
| Status History | |
|---|---|
| Jul 07, 2007 | Current |
| Nov 27, 2007 | Late |
| Dec 11, 2007 | 1 month late |
| Jan 11, 2008 | 2 months late |
| Feb 11, 2008 | 3 months late |
| Mar 11, 2008 | 4+ months late |
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Purpose of loan: This loan is to fund the rehab cost on my most recent aquisition. My aquisition cost is $130K the rehab cost is $25K and the After Repaired Value is $235K (I already have the appraisal) My financial situation: I have been investing in real estate for over four years now. I currently own fourteen properties with combined equity positions of over $300K. Some of my aquisitions I sell for profit to reinvest and others I hold for long term. I own two businesses that are roughly three years old now. I have a business credit line from Key Bank, several personal trade lines, and substancial equity as my backup plans (I could always refi a property if I got in a pinch). I carry the equtiy positions because I own so many properties the banks are easier to work with if one has good equity. I am also a licensed loan officer. I have used hard money, financial partners, and short term private money and always paid my investors. Monthly net income: $ 18,000.00 Monthly expenses: $ 6960.00 Housing: $ 3500 Insurance: $ 325 Car expenses: $ 695 Utilities: $ 255 Phone, cable, internet: $ 165 Food, entertainment: $ 500 Clothing, household expenses $ 400 Credit cards and other loans: $ 860 Other expenses: $ 260 |
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Discussion For This Listing
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