closing in on my slice of heaven
Click Here to view this listing on Prosper
|Loan Status:||Paid||Origination Date:||2007-08-07||EricsCC ROI:||11%|
|Aug 07, 2007||Current|
|Aug 09, 2010||Payoff in progress|
|Aug 15, 2010||Paid|
Recently my best friend and myself made a $67,500 offer on a beautiful lot in Virginia Lakes Ca. Our offer was accepted and we are currently in escrow. Since escrow began in June the lot appraised at $75,000 and we are pretty excited about that. We plan to build a simple ski/summer lodge on the lot and enjoy it for years to come as a vacation retreat for us and our families. I plan on using the $9000 loan to cover my half of the down payment. Unfortunately i was not able to upload an image of the property because it was too large.
Back in April I purchased my first home(a condo actualy) here in Mammoth Lakes Ca and i tapped out my cash reserves on that down.It would be a shame to miss out on this lot just because i'm cash poor right now!
Fortunately my debt on the condo is a mere $77,000 or about $450 a month. Combine my condo debt with my new lot debt and we are still talking about less than $100,000. Not bad for a mortgage and a half in California.
Here is a list of my income and current monthly debts:
Monthly net income:
$2800 from my seasonal(5 months) chef position
$500 to $4000 from my catering business
$450 from my tenant
$4000 monthly average
$125 health insurance
$300 total car expenses
$300 food, entertainment
$250 other expenses
Thats about it, about $2000 a month. I have no credit card debt or any other outstanding loans. I live a simple life and am hardly your average consumer. I will be able to quickly get back on my feet again thanks to this cash boost. I will be happy to answer any more questions regarding this loan. thanks for your time!