Investing on Property at Tax Sale
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 24% |
| Lender Rate: | 15% | Borrower: | jmorse |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-08-03 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Aug 03, 2007 | Current |
| Oct 03, 2008 | Payoff in progress |
| Oct 08, 2008 | Paid |
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Purpose of loan: I found a property to bid on at an upcoming tax sale. The property has a minimum bid of $18k and must be paid for in full when the auction closes; there is a 3% surcharge if I have to use a credit card. I believe this property is significantly undervalued. I have not found a value-priced property in Texas since moving and selling my condo in Denver earlier this year. I have been actively scouring from the sidelines in an apartment and am ready to act. My financial situation: I have borrowed responsibly on this site before. My credit profile is good and my income is stable. My only debt payments are for my car ($300) and student loan ($77). I live in a modest apartment (~$1000 + bills). My monthly income is several times my expenses. Let me know if you have any questions. Thank you. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 85533 | $5k option on new home, $5k improvements | A | $10,000 @ 9% | Jan 16, 2007 | Loan created |
| 175590 | Bidding on Property at Tax Sale | A | $25,000 @ 8% | Jul 24, 2007 | Withdrawn |
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